Everyone's monthly budget is different, but putting money aside and deciding how to make it work harder for you is what really counts.
Whether you're in your 20s, your 60s, or anywhere in between, here's a checklist of what you could be doing now to set you up for the future you want.
Your 20s may be all about getting your career started and enjoying the here and now.
And while life after work probably feels like a lifetime away, taking some simple steps now can give you a head start to financial freedom later on. Call it a little gift to your future self.
What you could be doing in your 20s:
Your 30s are all about building on what you started in your 20s - if you haven't started saving for retirement, now's the time to get going.
Hopefully your salary will have increased with your experience, but whatever you're earning, put aside what you can.
What you could be doing in your 30s:
All being well, your 40s could be a decade of big earning and spending potential.
If you're not where you want to be with your retirement planning, it's not too late to start. Look at how you manage your money, including any debts you may have, and update your financial action plan to help you reach your goals.
What you could be doing in your 40s:
Investing can be a great way to enhance your retirement pot and a ready-made portfolio can make it simple to get started. Bear in mind, the value of investments can fall as well as rise.
Explore: Investing for beginners
Make time to have follow up meetings with your financial advisor to review your ongoing needs and retirement plans.
If you've not sought financial advice previously, now could be a good time to consider it if you need help exploring your options.[@pensionadvice]
Moving and living abroad can potentially make your tax obligations more complicated. You should check with a qualified tax professional if you're unsure about the tax implications on your pension and wider retirement planning.
You can use our tools and resources to help you to navigate the complexities of international tax.
Your 50s is when your retirement goals start coming into sight. This is when you need to focus on boosting your savings.
What you could be doing in your 50s:
Regularly reviewing your finances with your financial advisor can help you monitor your plans and potentially make changes to help you achieve your retirement goals.
For example, now may be the time to allocate more money to your retirement pot, or to re-assess how much risk you are comfortable taking with your finances, as you get closer to retirement age.
If you have multiple pensions from your previous employment, take time to consider how you'll access any funds, and whether you may want to combine your pensions into one pot.
There are several good reasons to consider this, but you need to be sure it's the right thing to do for you. Before taking action, it's worth talking to someone who specialises in consolidation advice.
Ideally, your 60s can be a time of gradual transition that you're in control of.
With careful planning, this can be a time of freedom and adventure.
What you could be doing in your 60s:
