Call Richard Cook: 07770 575 122

email: richard@theinvestmentandretirementcoach.co.uk

Are you one of the 45% of the self-employed with no pensions savings?

How sad is that? Millions of hard working, creative people heading towards retirement with the prospect of having to work forever. Are you one of them?

This not scaremongering from a pension provider but hard fact from The Office of National Statistics Feb 2018.

Statistics for small business owners are not available but I would expect them to be much the same.

Contrast that with the improving pension prospects for the employed. They are now automatically enrolled in a pension scheme by law with total contributions of 8% of pay by April 2019.

Did you really decide to start your own business expecting to finish up worse off in retirement than the average employee?

I don’t expect or recommend this problem to be solved by compulsion so it will need a significant change in attitude. Looking after your future should be at the top of your list of objectives. “My business will be my pension” is pie in the sky thinking unless you really do expect to work forever.

Larger businesses are providing pensions for their employees whether or not they are making profits and you should be doing the same. A reasonable level of pension contribution should be a business overhead not something which comes out of profits.

If so many are doing nothing I suspect most of the rest are not doing enough.

Don’t put it off. Every day counts.

You don’t need to pay fat fees to a financial adviser to get started. The on-line platforms such as Hargreaves Lansdown are cost effective and very user friendly. Just log in, go to Pensions and then SIPP – all the information you need is there. If you are not confident that you will make the right decisions on your own and would like some guidance just phone me, Richard, on 07770 757122, or get in touch.

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PS. My new book “Fearless Retirement” is due to be published in the Autumn. I will have a limited number of complimentary copies for my blog readers – look out for a registration form in a future blog.


This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122

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