So you want to become financially savvy, make smart decisions with your money and invest in yourself to feel confident, in control and financially secure but don't know where to start?!
For young women it can be overwhelming looking for financial advice and trying to figure out where to start, after all the finance industry has been male dominated for so many years!
You may want to start investing to grow your money over time and keep up with inflation or set up a pension to avail of the tax relief while saving for your future.
We are delighted to be taking part in #PAW20 Pensions Awareness Week which is running virtually this year brought to you by Moneycube.ie. On September 24th Day 4 will be dedicated to Women & Pensions, I will be taking part and asking any questions that you might have from a customers viewpoint and the experts will be there to answer and provide all the relevant information. There is also a great competition and I will be sharing more on this soon so keep an eye out.
We get so many questions asking how to go about setting up a pension? Where to go? I have an old pension, how do I transfer? I am self employed and want to set up a pension? You may have worked abroad for a number of years and want to know your options on transferring your pension and so much more so that's why we have decided to take part in the #PAW20 at the end of the month as I know it will be a great help to so many young women that don't have the option to sign up with their employers pension, are self employed or just want to find out more and a way we can help.
Every day you wait you could be losing money. According to American Robo Advisor platform Ellevest every day you wait could be costing you about $100. The sooner you start the better and here's why:
The more time you save into a pension the more you can benefit from compound interest. If you can get an employer's contribution in addition then all the better. You are also keeping up inflation and the cost of living. €1,000 today will not be worth €1,000 in 10-20 years time.
Example 1: Sarah age 25 invests $250 a month, total invested $120,000 will have $639,520 at age 65.
Example 2: Laura age 45 invests $500 a month, total invested $120,000 will have $214,418 at age 65.
This is a great example that shows the value of investing long term really does make a big difference and the sooner you start the better! So if you are interested get in touch with the guys at Moneycube.ie online pensions and investment services where you can see for yourself the potential returns and projected calculations from your contributions over time taking into consideration your risk tolerance. I really think it is so easy to use and see how your money can really work for you. They also have a great diversified selection of funds and providers to choose from which I really like.
I will be sharing further information on this month's virtual PAW event running from September 21st - 25th and you can find out more here at Pensionsawarenessweek.ie. You can also sign up to register for the women & pensions day 4 webinar here.
I hope you find this helpful and I am so excited to be involved in this great initiative!