You aren't saving enough for retirement

[itsmejob]

That's good, retrain from loaning, let alone the interest, it's better if save it rather than washing it for the loan interest that may seem forever.

Yup. I will keep that in mind. I checked some apps, I was surprised to know that the interest is too high. I cannot believe that people are riffing off their own kind.

 

[Hate2Wait]

It's hard to determine the approximate amount we need as there are so many years left and we are not even sure about the inflation rate but still these calculators can help us determine the approximate amount we need to save

 

[Starmix]

I think for that we need to have some sort of figure that can help us the expected approximate amount that we need to save for our retirement taking into account the inflation rate

The deduction from our salary for our retirement will not be enough once we retire. The prices that time might be insanely high compared to the present.

 

[King Belieal]

As for me, I don't believe in saving for retirement. I would rather build a business that is so big and that would serve my retirement living expenses.

 

[Starmix]

It's an automatic saving of our retirement being employed We're deducted monthly up to age 60 to 65. It's still not enough which is why investing or managing a business is necessary.

 

[Augusta]

Retirement is time to rest so it is good to gather more when we are not too weak. it should be done during working days.

 

[Starmix]

That's right while still young build your savings for your retirement for our energy isn't the same when we're young.

 

[itsmejob]

And in fact, we have government benefit that will give us pension when we reach 60 or 65 years old, provided that we are a member of this institution and have the sufficient amount of contributions. @Starmix

 

[Starmix]

And in fact, we have government benefit that will give us pension when we reach 60 or 65 years old, provided that we are a member of this institution and have the sufficient amount of contributions. @Starmix

We are automatically deducted from our salary monthly for our retirement through SSS or GSIS. I have two, SSS and GSIS.

 

[Xtynehappy]

Of course l am not a good at saving money for the truth of the matter. I try as hard as possible in vain

 

[itsmejob]

Good that you have two, SSS and GSIS. In the private sector, we have SSS automatically deducted from the salary. Aside from that we have Philhealth and Pagibig being deducted as government mandated payments aside from the monthly tax.

 

[Springtime]

The earlier you started saving for retirement, the better. I started saving for retirement in my mid-30s. I have accumulated a certain amount of money in my retirement fund. But I still need to work hard if I want to live a quality life after retirement.

 

[Hate2Wait]

It's tough to calculate the amount that we need for our retirement but we can try to calculate it with the help of different free-to-use retirement calculation calculators available online

 

[Starmix]

Good that you have two, SSS and GSIS. In the private sector, we have SSS automatically deducted from the salary. Aside from that we have Philhealth and Pagibig being deducted as government mandated payments aside from the monthly tax.

I was teaching before in a private college which is why I have an SSS account which I continued to pay voluntary after I was hired to teach in a government owned in university, the University of Science and Technology of Southern Philippines in Cagayan de Oro City and we're auto required to apply for GSIS. PAGIBIG is automatic and PHILHEALTH.

 

[Hate2Wait]

Its really important for us in Asia and India to start earning enough for our retirement because we don't get any medical help from the Governemnt so we need to take care of ourselves and our family

 

[Starmix]

Foremost, let us take care of our retirement. Let us not wait for the time that we are already in that age and have no money to be called pension. It will be the most crucial image of our old age.

 

[Hate2Wait]

That's my point of view too because at that time we won't be able to earn money with the same enthusiasm and confidence so we need to have some extra money to cover any extra expenses post retirement

 

[Starmix]

That's right and you have a job, I think there is a payroll deduction of your salary intended for your retirement. Am I right?