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I am one of these people that have lost of dreams and aspirations. The problem is, I want to achieve them all at the same time and I struggle to decide in my head what I want to accomplish the most. In my head what I want the most, seems to change on a daily if not hourly basis.
I work in media and I love media but media is such a huge industry with thousands upon thousands of job types and sectors. So just having something I love hasn’t made it any easier. There are so many cool jobs in media and so many would be fun to do. Creating TV, Radio, Films, videos etc is just great fun and it takes so many different skills, talents and people to create all these things, each as vital as the other.
The journey tests the passion
Some times to get to your passion, you have to do things you aren’t as passionate about. A lot of the times there are no short cuts to the top and there are paths you need to go down first. These journeys really test how passionate you are about the end goal.
To get to your passion you have to be prepared to let things go and remove the stuff in your life, that is taking your time but not getting you closer to whatever you are passionate about. A difficult balance to find is helping others whilst not slowing down your journey towards your passion. So many people in life will want your time, your thoughts and your energy and it is only fair to give it to them but at times it can also be draining.
I am always in awe of people who have found what their number 1 passion is and have made it a reality. Some people have made incredible things a reality, some people haven’t made it but know where they want to go. Life has so many people that have made it, some that haven’t made it and some that don’t know they have made it. I want to be someone in life that did the thing that made them the happiest and someone that has no regrets to look back on later in life. I can’t wait until the day I can come on here and share with you all that I found my biggest passion and I achieved the thing in my career that was my biggest passion.
This week in the UK as part of George Osborne’s Budget, a new ISA called a “Lifetime ISA” was launched. The new ISA would enable you to get a 25% bonus on everything you saved up to £4000 a year. So you can get an extra £1000 per year in your account plus interest, from next April until you are 50. There are of course a few bits of small print, the big bits of which being that you only get these bonuses if you use the money towards a house purchase or your retirement.
My wife went through the numbers and projections last night and if we changed the way we saved and kept to the plan she made, we would have a very nice nest egg for retirement through this scheme. The thing about this new ISA is that I can’t think of any other savings method that is completely risk free that would give you a thousand pounds plus interest for a £4000 contribution.
What you save not what you earn
I am a big believer that life isn’t about how much you earn it is about what you spend and what you save. The amount of money you earn only makes you rich if you use it wisely. My wife and I make a great team for many reasons but one of them is because I am good at getting good deals and finding things for very cheap prices and she is great at saving, planning and budgeting. The combination between spending and saving is so important; if you do both well, you will have a great financial future.
I think when looking at savings, the important thing to do is to not look at the amount you are saving this month and how much money you make on your savings this month. You need to look at what the numbers look like if you keep saving that amount per month for 10 years, 20 years and so on. It is the numbers you will see then that will give you the incentive to keep on investing your small amounts every month. It’s like looking at your monthly direct debits, if you manage to get a new phone contract that is say £10 less a month than your current one it may not seem much, but if you look it over the two years of the contract that’s £240!
Working for you
Always make your money work the hardest it can for you – I hate this terminology but it is very true. Look at what savings options are open to you and pick the best ones for your needs. We are always being encouraged to shop around for best deals on insurances, energy and so on but it is also important that you shop around to find the best savings avenue for you.
Before this week I thought saving for retirement was impossible and that we would have very little but now with this new ISA and a plan I know in later life we will live a nice comfortable life.