Have you every stopped to think about the money that you might, or might not have for your future? Follow my simple and effective life hacks to help you get the most from your future.
Through the Aviva Shape my Future tool, I’ve been able to take a holistic view at how the choices I make now might impact me later in life.
Follow these 4 hacks to keep yourself on track for the future.
1. Mental strategy
Don’t get overwhelmed by the big idea and your long term ambitions.
Have your ultimate objective and then work back from it. Break it down into smaller, more achievable tasks. The result of all these small achievements will get you even closer to your ultimate goal.
For me, my ultimate goal is to have my own production company, something bigger than me. I’m now working this into more achievable tasks to help me get there!
2. Plan for your future financially
The Aviva Shape my Future tool has allowed me to see how the decisions I make now can impact on my future once I’ve retired.
The tool compares how much income you may have in retirement with the outgoings you may have for the lifestyle you desire.
For me, I want to live a comfortable life when I’m older – go on lots of holidays, own my own house, have a martini every night… all the good stuff.
A pension can be a great way to secure money for after you retire. It is just a tax-free pot of cash you can pay into. Personal pension payments can be altered as your income changes throughout your working life.
The Aviva Shape my Future tool has, however, shown that I’ll need to think about putting some more money away into a pension if I really want my life of luxury.
3. Consult mentors
I’m a great believer in working with mentors.
Speak to people who have been there and done it – you’d be surprised who is willing to help you if you have the right attitude.
My dad started his own business when he was 40 and has been a great source of advice and inspiration for me. Through his own experience of business, he’s been able to provide a fresh insight into the decisions that I am making in my own life.
4. Evaluate and review
People change as they get older and the goal posts move. It’s important to be flexible, to keep yourself moving on and up!
If you’re unprepared to be flexible, you’re likely to fail. Keep the ultimate goal in mind, but be prepared to adapt your plans.
I have recently started freelance work back in TV. For me, it’s a way to keep my hand in and continue to build my own skill-set. It keeps me current and helps to safeguard for the future – whatever I end up doing.
The Aviva Shape my Future tool uses simple inputs to give a basic idea of retirement income. Details of assumptions are available at Aviva.co.uk.