Meanwhile, one of the global trends in the world of work these days is more and more individuals choose to work as a freelance (part time) rather than full time working. At least this phenomenon has occurred in developed countries.

But there is one more factor that is very important, financial markets are now very modern. Creation of modern investment instruments can reduce the negative impact of fluctuating incomes and pensions in the absence of freelance work. Family financial management with the use of modern investment instruments can make as safe a freelance job with a steady job.

In terms of retirement planning for freelancers, the first thing that must be taken into account is how spending per month currently. If we assume we will run the same lifestyle when we retire later, then this expenditure will be adjusted for inflation 20 or 25 years from now when we retire. After that we will know the needs of pension funds and can count the number of monthly investments to be done.

It should be remembered also that the illustration above has assumed that the need for an emergency fund and insurance are met. If both these requirements are not met then the financial planning is more comprehensive and detailed to be done.

The compensation is divided into components of monetary and non monetary. In monetary compensation, there is a direct reward in the form of salaries, commissions, bonuses, and incentives and rewards such indirect benefits of transport, health or housing.

If you are working in the field of sales, so naturally when you get a small salary or even not at all. But when you reach or even exceed the target, you probably will get a huge commission. There are many people who have managed to become rich from the commission, for example insurance agent or real estate agent. Next important is the incentive or bonus. Many companies give their employees bonuses, even two or three times a year and each time bonuses can amount to at least buy a new motorcycle or cash advance for car payments.

Some companies provide transportation allowances, whether in the form of money or vehicles service. There was also a facility that provides housing. Others provide income tax benefits. One more thing that seems to be observed is compulsory health insurance. In the middle of the growing health costs expensive, very important if you have health protection, either directly by the company or any third party through insurance companies.

On the other hand non-monetary compensation should also being calculated. Are you going to have challenges and responsibilities that enough? Do you have flexible working hours? Is your work environment attractive? Is there you can provide benefits to many people? Could you get a chance to learn as entrepreneurship capital in future?

Well, is now your time for choosing a new job? Review all components of compensation before you decide. In the perspective of personal finance, monetary compensation is a big contribution to support your financial goals, but remember to also calculate non-monetary compensation equal importance.