Despite me writing about self employed pensions here on the UC blog many times…the message is not getting across it seems.
Why do I even bother? Maybe I shouldn’t. Maybe I should just ignore the self employed pension crisis and let most of you sleep walk into a retirement of flipping burgers at McDonalds and rubbing pennies together to make ends meet.
Would you like that…would you? Well, you might just get your wish, but for now I am going to keep on tooting the self employed pension horn until a few more of you get the message.
Apparently two thirds of the 5 million self employed in Britain do not have a pension.
Do you know what? It has just occurred to me that two thirds of those 5 million probably DO own an umbrella…which means self employed Brits care more about umbrellas than pensions.
“Oh here he goes again, banging on about umbrellas. Why don’t you just sell them already?” you are probably saying.
My response: – “It isn’t by choice, to talk about umbrellas, I can assure you of that…but we get so many people enquiring about buying umbrellas that I’m starting to wonder if we are missing a trick here? Perhaps we could add a link to the Amazon/Umbrella Section, and if the stats look good then start our own range of umbrellas?”
Only…it seems like the WORST possible time to start a side umbrella business. April is gone and June is just around the corner. Next year maybe…next year.
Back to self employed pensions and a new report has revealed that all self employed professions are guilty of not saving for retirement. From barbers to taxi drivers and builders to office workers, there are just too many people who are not taking this self employed pension thing seriously.
Bizarrely, the report went on to find out that 2 our of 5 self employed people have never even heard of a self employed pension. It makes you wonder what planet they are living on, doesn’t it?
Not only that, but 3 in 5 self employed women are concerned about running out of cash by the time they retire, leaving many to wonder what comes next?
I will tell you what comes next…
You have to get your self employed pension sorted out, and fast.
Don’t make it complicated and don’t do anything fancy. But make sure you are putting enough away every month to live the life of riley by the time you get to 65.
Don’t make the mistake of relying on a State Pension, because quite frankly that isn’t going to be enough and it might not even be there by the time you are retired.
Can you honestly and truthfully say that you trust the government? I don’t, and I don’t think you should either…so don’t count on a State Pension as a source of income by the time you are 65.
The message here is clear – sort your self employed pension and do it today.