How do I invest in my AFORE if I work as a freelancer?

Unlike decades ago, young adults today have found alternative ways to work without having to answer to an employer or company. This can be a double-edged sword, but if played with the right cards, it can reap significant benefits.

The generations known as Millennials and Centennials have adopted the ' freelancer ' work modality for years, that is, a person who works independently offering their professional services to clients or companies without a permanent employment contract.

Of course, this modality has both its pros and cons, since although freelancers have the freedom to " work whenever they want ," they are not entitled to a fixed base salary like those employed by a boss or company.

One of the most common concerns among those who want to work as freelancers is how they can contribute to their retirement . Since they are not employed under a contract, they often lack access to benefits like Social Security , which leads many to believe they won't have the opportunity to enjoy a sufficient pension when they decide to retire.

First of all, it is necessary to clarify that many modalities have changed and, The Mexican Social Security Institute (IMSS) pensions granted to retired workers will no longer be available to Millennials, Centennials, or Alphas.

That is, all those who began contributing after July 1, 1997 , will no longer have access to the IMSS pension.

SEE MORE Are you on the list? These generations will no longer receive IMSS pensions.

Many will have to look for other alternatives for their retirement, since they will no longer be able to access the IMSS pension.

Taking the above into account, the question arises as to what to do to obtain contributions for our retirement. The answer is an AFORE (Income and Retirement Fund).

A Retirement Fund Administrator , better known as AFORE , is an institution responsible for Mexicans' savings for their future pensions.

If you work independently as a freelancer, we'll tell you how you can invest in an AFORE:

1. Register with an AFORE: First, you need to register with an AFORE service. You can search for several options and see which one suits you best. You can check the AforeMóvil app for advice and help you choose one.
2. Make voluntary contributions: After registering with an AFORE (Retirement Fund System), you can start making your own monetary contributions. You can choose how much money to invest for your retirement.
3. Choose how you'll contribute to your AFORE: Review the payment options of the AFORE you've selected, and based on these, you can choose whether to make direct debits from your debit account, at convenience stores, or directly to the AFORE.