It’s too late. The post-90s are already saving for a pension

2022-06-11 0 By

Not to sell anxiety irresponsibly, the retirement delay has already started. Anyway, if you were born in the 1990s, men should retire at 65 and women at 60.A lot of people are thinking, isn’t that great?That’s five more years of pay.Don’t panic, don’t be so happy.Think about the people around you now, are they all clamoring for a retirement pension life?So, delaying retirement is actually delaying the day when we get our pension.And since most people have a midlife job crisis by the time they reach 35, are you sure you’ll be financially secure until you’re 65?So, saving money for your pension in advance is just a precaution against having no income and no pension.How much money do you have to save to live your old age without panic?In economics, there is a 4% rule that can be used to figure out the minimum retirement pension you need.If you spend $6000 per month, you need $6000*12/4%= $1.8 million.As long as you don’t withdraw more than 4% of your assets each year.Then put the rest of your money into your savings account and make sure it grows at 4% or more, so you’ll never run out of money in theory.At that time, everyday details could not be ignored.First of all, must hand in social security, the fixed number of year that endowment insurance hands over is more cost-effective, when retiring, the pension that you get will be more;Secondly, when you are young, you must learn how to manage your money while working. Otherwise, if you put your hard-earned money in your current account in the bank, you will not even be able to beat inflation, let alone save money.If the investment is small, it is suggested to start from prudent financial management, buy money funds, bond funds, reverse repurchase of Treasury bonds, structured deposits and other low-risk products, slowly establish their own asset allocation.Anyway, must not follow wind investment, buy what of stock, fund in disorder, don’t say save money otherwise, investment can become your biggest consumption.