We were recently invited to do a presentation for a group of Nuclear Graduates at Energus to talk all things pensions and Financial Planning in general.
We were invited along so that the graduates could get a better understanding of pensions before they start their careers in the nuclear industry and to highlight the importance of saving for their long-term future as well as the present.
The graduates had just finished their first two weeks training, before going off to their various work placements around the country, with some even heading off abroad.
Nathan and I prepared a talk that focussed on areas of importance for this particular stage of life. Before going we had asked the students what they were expecting to learn about, and this helped to guide us in delivering not only what they thought they needed to know but also allowed us to cover other areas which were relevant, but perhaps not quite on their radar yet.
We talked about the tax advantages of pensions as well the impact of investing earlier in life and Albert Einstein’s ‘8th wonder of the world’, compound interest. We also touched on medium term savings by investing in Lifetime and Help to Buy ISA’s, as well as investing in cash versus stocks and shares. Finally, we discussed protecting their income in case they were unable to work due to sickness.
All of the graduates seemed very eager to learn and there were some really engaging and thought-provoking questions at the end. Hopefully they all left with a much clearer idea of not only the importance of saving for their future but also the importance of trying to plan for it too.