Set retirement savings from freelance income.
Without an employer scheme, retirement saving is a percentage of income you have to decide and automate. Treating contributions as a yearly annuity and compounding them at a real return — one already net of inflation — projects a pot in today's purchasing power. Splitting the result into what you contributed and what growth added shows why the years-to-retirement figure matters more than the contribution rate.
Contribution growth
Projected pot = yearly contribution x ((1 + real return)^years - 1) / real return
Investment projections are illustrative, not guarantees: real returns vary and can be negative. Contribution limits and tax treatment depend on your jurisdiction and scheme. This is not financial advice.
Without employer contributions, 15-20% of net income is a common target. The shorter the runway, the higher that percentage has to be.
Because it keeps the projected pot in today's money, which is the only way to judge whether it would actually support you.
Not explicitly. Self-employed schemes often allow far larger contributions than standard personal accounts, which can materially raise the effective contribution.