“I saved every penny I could and invested it, instead of enjoying it”

Life circumstances led Valera to raise her daughter alone, pay off her house, and manage everything by herself. She retired at 59, with solid financial know-how gathered along the way.

How did you come to retire?

When my husband died, I became entitled to a widow's pension, and I chose to stop working to take care of our daughter. I wanted to be there when she came home from school, and to support her through her studies. At the time, I worked a lot as a marketing manager, and I was rarely around.

Once I stopped working, I could finally be there for my daughter. She always dreamed of becoming a fashion designer, and I was able to help her get there. It took a significant personal and financial investment, but I have no regrets. Supporting your children matters.

I managed everything on my own, and I could not afford to make mistakes. For a large part of my youth and adult life, I did not spend freely. I covered my own needs, saved as much as I could, and invested.

As a result, I became a homeowner, supported my daughter, and built up a financial safety net. Meanwhile, I have seen people with much higher incomes than mine burn through everything, without planning ahead at all.

How did you learn about finances?

I learned on the job. Life left me no choice: at a young age, I had to manage a child in school, save money, and live within my means. Fortunately, some of my investments paid off well. I also used term deposits, savings locked in for a fixed period, staggering the maturity dates across each month of the year so I would never be short of cash if I needed it.

My bank manager, at the CGER at the time, advised me well. I kept going to the bank, staying engaged, and talking things through with him. I did not really have a choice.

When I was younger, my mother taught me how to calculate costs, avoid spending automatically, compare prices when shopping, and set money aside, stockpiling if needed. She knew nothing about banking herself, but I studied executive secretarial work, which gave me a grounding in law and economics.

What did you do with your first salary?

I started working young, at twenty, while still living with my parents. I probably bought a few clothes, nothing extravagant. Above all, I set aside 5.000 Belgian francs a month, at least 25% of what I earned. When I later moved into a small flat, I was able to buy furniture, linen and everything else I needed.