So having spent a significant time researching personal finance my main recommendation would be to read Money Master the Game by Tony Robbins. The book is 600 pages and there is no way I can do it justice with this short article! A very high level summary would be the following:
1, Stop being purely a consumer and become an owner - as Tony says build a money machine that makes you money even when you sleep. If you have to work for all your income you'll never achieve financial freedom! This starts with living within your means and saving at least 10% of what you earn.
2, Learn the rules of the game - basically Wall St makes most of it's money on charging you hidden fees on your investments and getting you into actively managed funds that don't beat the market that are loaded with fees. I bet your pension is in these right now! Mine was!
3, Become an insider and invest like the titans. Ray Dalio the most successful hedge fund manager of all time gives Tony a passive asset allocation that is balanced for all economic seasons and returns 90% of the stock market upside without the downside. The portfolio has been extensively back tested by a team Tony employed and does amazingly well. It smooths out the large up and downs of the stock market removing the market timing aspect that ruins many investors.
I believe just changing your pensions from the under performing high fee mutual funds they are no doubt in to this low fee balanced portfolio will be a huge improvement for your retirement. In my next post I'll go into more detail on the portfolio, it's performance and compare it to another similar portfolio I would also consider.
Tony Robbins interviewing Ray Dalio:
Another great resource for learning about personal finance would have to be Rich Dad Poor Dad:
A great 15 min video breaking down personal finance and mistakes people make: