Pension Documents Arrived Which Allows For More Planning

I finally received the pension documents recently explaining how the pension works. I have had more questions with no answers so I am grateful to finally receive a detailed policy document which has now answered all of those questions. I was not 100% sure where I stood and at least now I do which is great even though there are a number of years left before retirement or more so pensionable age as I have no thought of retirement. Staying busy is what I enjoy and there are no thoughts of putting the feet up.

When we are busy with our careers it is a comfort to know you have a pension in place that is not the bog standard government pension. This is the one benefit when working for a blue chip even though there are a few regrets not having started my own business when I was much younger. I think if your parents had their own business then you would think similarly and not play it safe joining the rat race as an employee.

Working for a blue chip gives you the security we all desire yet unless you are in the upper echelons of management not much else and you are just a number. The time spent with this company served a purpose and on the SA side of the company the training provided was world class. Sadly this was not replicated on the UK side and felt the standard of employees present was not as strong. I do not like corporate mentality as everyone is trying to protect their backsides instead of just doing their work. The feeling I got from the time spent here was that everyone was looking to jump boat using the company as a stepping stone even when they were not ready. A bit like trying to run before you can even walk.

I am grateful for the pension which is more than decent yet we all know we cannot rely on this covering life's needs with the rate of inflation. Things can change quickly so thinking you are comfortable can quickly change in 5 or 10 years so a very good reason why you need to continue working towards a decent nest egg.

Having a few passive incomes over and above a pension is what I am striving to create and will continue to target and achieve these goals. This is not just about myself but my entire family who I need to make sure are being looked after when I am not around. Having grand kids has just created even more pressure and what drives me each day as having a trust fund for them is on the wish list and will do my best to make this a reality.

Over time your thinking changes and I think the health scare I had about 10 years ago triggered a different type of thinking. You tend to take a closer look at life and what is more important to your needs and others you care about removing all the white noise. When reflecting you realize how much time is wasted dealing with projects that add no value and hence are worth ditching. The focus the health scare offered was the upside to all of this and would have rather not had the health issues even though it was life changing on many levels.

The good news with now having the policy details is this allows for more planning to take place with timelines along with the financial goals.