How to Prepare Old Age Savings?

[Suba]

Many young people think that old age or retirement is still a long time away, so they don't need to rush to prepare funds/savings for old age or retirement. However, experts often recommend starting to prepare retirement funds as early as possible, especially when we start to make money. If we continue to delay starting to prepare savings for old age, the chances of reaching old age will be smaller with a calm and prosperous life. So in your opinion, how do we prepare for retirement savings?

 

[Starmix]

There's automatic deduction of our salary for retirement, mine $100 a month up to age 60, but that amount might not be enough when the time to retire comes. I save the earning of my inherited property 1 hectare coco farm.

 

[eLdavis]

To be honest I don't have any specific way or special way to do this. I will simply open a separate account where I can keep funds from time to time, then have an investment that would be generating passive income for me.

 

[Stardom22]

For me l can achieve this by starting saving little by little during my young age and with consistency that little becomes very huge and with time for the retirement

 

[Starmix]

To be honest I don't have any specific way or special way to do this. I will simply open a separate account where I can keep funds from time to time, then have an investment that would be generating passive income for me.

Open an account in your SSS as a volunteer payor for retirement. It's what the people here without jobs doing to pay monthly until age 60 or upon completion of 120 months payment.

 

[freelancermaria]

Every payday, I make it a point to set aside some of my earnings as savings. Though it may not seem like a substantial amount, I believe that it is better to save a little than not at all. Additionally, I will invest some of my money to prepare for my retirement, and I am sure that my illness will get worse over time, so I must be prepared. As an online freelancer, I am planning to open a Social Security System account and apply for voluntary contributions to maximize the benefits that I can get from the system.

 

[Starmix]

Every payday, I make it a point to set aside some of my earnings as savings. Though it may not seem like a substantial amount, I believe that it is better to save a little than not at all. Additionally, I will invest some of my money to prepare for my retirement, and I am sure that my illness will get worse over time, so I must be prepared. As an online freelancer, I am planning to open a Social Security System account and apply for voluntary contributions to maximize the benefits that I can get from the system.

I thought you already have an account ob SSS? Better do it ASAP and if possible chose the higher monthly premium to make sure you won't run out of pension during your retirement. You can have a better retirement money when prefer to pay a monthly premium of 2000 pesos.

 

[neku]

In some countries, self employed citizens find it extremely difficult to make any money after the age of 40, they do not get paid work, despite their best efforts. So it is important to save money when young for old age.

 

[Sanjeev]

We have a provident fund system here. Also I have taken few investment plans which will give us some monthly amount of money. But I don't think that would be enough , I will have to do something else to earn.

 

[SilverLance]

Time is a powerful ally when it comes to saving for retirement. The earlier you begin setting aside funds, the more time your money has to grow through compound interest.

 

[Starmix]

No matter how hard life is this time,but we must set aside some amount for our savings for old age. When one gets old he or she will have no chances to make the savings right.

 

[Augusta]

For me l can achieve this by starting saving little by little during my young age and with consistency that little becomes very huge and with time for the retirement

That's right the best bet is to continue saving money no matter how little you can. Save on till old age