Amount to save while collecting pension depends on the pension amount before one can plan on how much he or she will save during the pension period.
How much should we save to our pension?
- Thread starter Grant
- Start date
The amount of money that you should save in preparation for your pension is dependent on how much you are making and also the years you have to your retirement. As somebody who is just newly employed I think anything from 6 to 10% of your monthly income is ok.
Notwithstanding real estate is a good form of investment which could yield good profit if done properly. But it would still suffice that you have some savings stashed somewhere that you could fall back on in the rainy days.
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I think it very depends some people don't have money so they take away big amounts of money from their pensions just because they must have this money.
if you cannot live to the future then why bother have money for the future?. And anyway when you are receiving the pension you are very old so life worths less it is not as simple as we might think a pension is a huge subject that is might effect other things in our lives. I personally will try to make myself a good pension but not a very wealthy ones just a regular ones.
if you cannot live to the future then why bother have money for the future?. And anyway when you are receiving the pension you are very old so life worths less it is not as simple as we might think a pension is a huge subject that is might effect other things in our lives. I personally will try to make myself a good pension but not a very wealthy ones just a regular ones.
The way things are going on, where money is not stable and the value of things are increasing, I will advice one to save as early as possible before you will be called unaware of your retirement.
I quite agree with you on this one,because the amount of money you actually set out for saving into your pension which is your retirement plan,is mainly determine on how much you can spare for your daily welfare needs.
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Saving 30% of your monthly income to your pension is actually not bad because after sometime you will realise that you have saved a lot. This is a strategy you can use.
In order to save money for your pension, you must calculate the right percentage of your overall income daily. This is what I do. I have a fixed portion of money that I spend and save the rest.
It is not about calculating the right percentage , it is about you being able to save the percentage you have been able to calculate . In most cases having a reasonable employment or a booming business is one of the best ways that can help you save reasonably for pension.
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It's hard to tell because it depends on how much you make every day. I think you should invest in your pension because these days no one cares about old people, so the pension is low. Try to save some money. You don't need that much. Even 1 dollar could help out
Well, the reason why I stated that is due to the fact that you may need to calculate your income in order to save money. You must keep and check and balance of your money. This is something which is very important to do.
Sometimes we are always ask to save between 30 to 40% of our monthly saving that with this the possibility of having reasonable savings will be high. But you can't possibly make anything reasonable even if you have to calculate your income when you are not earning enough.
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The main issue is that I am not able to save money because I am addicted to junk food and eating sugary products. This is why I spend a lots of money on cakes and chocolates.
You just have to know the right amount of cake and chocolate you have to eat that it does not have any bad side effects in you. You have to discipline yourself if you are interested to stop . Me I like chocolate but I control how I take it
I have noticed that I have been spending a lots of money on such useless and unhealthy items. In fact, I have noticed that the amount I spend on cakes and chocolates is so high that I could purchase fruits for that amount. I have sugar addiction and I am taking some medicines to combat this addiction now.
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Ops, sorry about this. If there is a way you can limit how you are taking most of these things it will be very much better.. you just have to follow up your medication religiously. You have to try So much to limit it.
that will probably depend on the amount of money you make. And think saving about 10% of your salary is not a bad idea for your pension. Some people even save more.
There are some factors that determine the amount to save for your pension. it is largely dependent on your monthly income and also determined by the numbers of dependants you have.
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The percentage of your income to save for pension is not fixed for everyone . It all depends on your responsibilities, but I would strongly recommend that everyone should save at least 5% of their income for the future .
A lot of things is going to be put into consideration like the year in which you plan to retire from active service and how much is going to enough for you to live the life in with you want.
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