Eoin McGee answers: 'I'm in my 20s and at the start of my career. Is it true that high-risk pensions are better suited to young people like me?'

In the article, financial planner Eoin McGee advises a young woman in her mid-20s on how to effectively manage her pension scheme. Despite having a pension through her employer and contributing 5%, McGee stresses the significance of taking an active role in her financial planning. He highlights that understanding the dynamics of risk and return is vital for securing a stable financial future, especially as her income grows over time. The guidance urges young professionals to engage with their pension strategy rather than adopt a passive approach.

Eoin McGee emphasizes the importance of actively managing your pension rather than passively following employer-set contributions to optimize returns and balance risks.

Understanding the balance of risk and return in your pension is crucial, especially as you have the potential to significantly increase your earnings over time.

Read at Independent