Puddle boots - what do you call yours ?

I love my children and I love how they make up their own names for things, just like this. We were going for a family walk and were halfway out of the door, when my daughter calls out, "where's my puddle boots? ' Puddle boots ? Of course, that's what she means, genius, what a brilliant choice of name. It denotes what she wants them to do, jump in puddles and keep her her feet dry, it create great purpose ... and that got me thinking.

Hello I'm Jill and I work hard to engage people with financial planning, to help create the life they want with the money that they have.

The majority of my work is encouraging people to save and invest for their future life. Pensions, Investments, Bonds but what does that really mean to you. If a wellington is now a puddle boot how can this renaming and purposing be applied to something like a pension ? So many people I meet don't know what pensions they have, where they are invested and how much they will have in retirement and its probably because of the dull association with the word pension.

Pension : a regular payment made by the state to people of or above the official retirement age and to some widows and disabled people.

There is the association with being "pensioned off, somehow being past your prime and excluded from the workplace because you reach a certain age. Being dismissed as no longer of value, is hardly going to encourage someone to nuture their pension fund and make regular additions. In fact its down right unmotivational.

Perhaps a more historical definition is getting closer.

Pension definition two : A regular payment made to a royal favourite or to an artist or scholar to enable them to carry on work of public interest or value.

The above explanation has a simplistic beauty but for me and I suspect many others, the word pension has become entangled with complex tax legislation, serial government interventions, rule changes which quite frankly make it a turn off. ,

I return to Puddle Boots - how can we reframe the word pension with purpose. What would you call yours ?

Here's some suggestions:

• Escape Plan
• Financial Freedom plan
• Tax advantaged legacy plan
• Impact investment plan
• Return on life plan

Enjoy your puddle boots, splash in all those puddles knowing your feet will be dry and let me know how best to reframe pensions.

Jill Turner is principal adviser at Jill Turner Associates, Holistic Financial Planning and Wealth Management. A finalist in the Money Management Financial Planning Awards 2016 in the Protection Category, a member of the Personal Finance Society, the London Institute of Banking and Finance, the European Financial Planning Association and a member of the UK Sustainable Investment and Finance Association.

As with all investments your capital is at risk and can go down as well up in value as can the income generated from your investments. Jill Turner Associates are an appointed representative of Quilter Financial Planning who are authorised and regulated by the Financial Conduct Authority. This article is for information only and to stimulate interest on various topics of financial planning and does not, in itself, constitute advice.