My Knowledge Directory

One of my favourite topics to discuss is financial planning. I expect that the more I blog about that, the lower my readership will be. 🙂

Last night, my sister and I reviewed her workplace pension and her stocks and shares ISA. We concluded:

1. It’s important to regularly review how much we can contribute to our workplace pensions. For now, my sister thinks she can deposit an extra $100* per month so she’ll adjust her employee contribution immediately. By using calculators such as this one, you can easily see the difference that an extra $ per week/month/quarter, can make to your pension by the time you retire. A small amount each month can make a significant difference in 20 years from now. The sooner you start, the better, and it’s not to late to start.
2. She won’t yet increase the monthly deposits to her stocks and shares ISA. However, at the end of each month, she’ll commit to transferring any leftover cash to her ISA. This is super easy to do with her ISA app and it’s free. An extra $20 one month, an extra $5 another, will all add up.

*I have used $ when I in fact mean British pounds. My keyboard doesn’t have the pound sign.