"I don't know if I have enough money to retire," I believe this is the most worrying issue for most retired people of Taiwan. The world has entered the peak of post-war baby boom retirement, and Taiwan has also entered the stage of aging and low birth rate. Many people may not realize that they have thought about how big a funding gap they will face in the future because of the extended life span?
To answer this question, you must first look back at each person's asset scale; different scales will also face different financial management problems.
(Picture source: shutterstock)
High, medium and low-income people have their own financial management problems when facing retirement
If people with high assets are for example, Yang Shuhui, director of the General Office of the 10 Financial Operations Department of China Trust Bank, analyzed that the most common problems of such people are such as tax issues remittances of overseas funds, asset allocation, real estate inheritance or enterprise inheritance.
As for the customers of China Assets, when their children become adults, facing the arrival of an elderly society and the government has promoted the reform of the annuity system in recent years, issues such as "how much should I prepare to retire to be enough", "Can my current savings meet the needs of retirement?" are often the most urgent concerns about.
Low-asset customers are usually young people who have just entered the social workplace. Due to their young age and relatively insufficient qualifications, their most common troubles include their willingness to learn to invest, but they do not know which financial tools or investment strategies are best for them.
However, regardless of the assets, Yang Shuhui pointed out that people often have three common financial pain points when facing retirement issues: 1. Inadequate wealth preparation. 2. Worrying that after aging, I will not be able to take good care of my medical care problems, which will affect my children. 3. Don’t know how to plan effectively and support a life that will be longer and longer. How to solve these pain points in
? Yang Shuhui pointed out: "No matter what financial goals or problems it is, there is actually not much difference in financial management methods." After sorting out Yang Shuhui's retirement planning suggestions, you can draw the following two key points:
Step 1: How much money is needed and how much time is there?
No matter which ethnic group it is, the first step that must be done is to evaluate the feasibility of various financial goals, and then quantify each project target, including "how long is the preparation time", "how much money is needed", and "how much investment volatility can be accepted".
Taking the estimated retirement living standard as an example, the CITIC Bank team provides three reference levels, including 40,000 yuan in simple life (necessary expenses such as food, clothing, housing and transportation), 70,000 yuan in happy life (in addition to necessary expenses, travel abroad at least once a year), and 100,000 yuan in wealthy life (in addition to necessary expenses, travel abroad at least 2 to 3 times a year).
Through this classification method, ordinary people can have a clearer imagination of retirement life and better understand how to set goals. They can also examine how big their financial gap is.
Therefore, when planning retirement and financial management, you should pay at least 40,000 yuan per month to spend. Yang Shuhui said that if you retire at the age of 65 and live to 100, you will spend 45,000 yuan a month after retirement, and you will need to prepare a total of 19.06 million yuan in retirement. "This amount has not been included in inflation ." If
is deducted from the labor insurance, public insurance, and new labor withdrawal system, and calculate it at return rate 105%, if you start saving at the age of 30, you only need to invest 7,100 yuan per month; if you start saving at the age of 40, the monthly investment amount will exceed 13,500 yuan; if you start at the age of 50, you will have to deposit more than 30,000 yuan per month.
(Picture source: shutterstock)
Step 2: Establish asset allocation according to the goal, and discipline investment
. Once you have a goal and know how much money you should save in a month, you must start planning how to invest the best. Generally speaking, the "Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hundred-Hund No matter which asset level it is, the "Hundred-Elder Method" can be used as a reference.
Yang Shuhui also specifically reminded that all retirement plans must be based on the premise of "disciplined investment". If there is no monthly execution or regular inspection in the market, if unexpected situations occur in the market (for example, since the Sino-US trade war, US President Trump , Trump 's speeches are often unexpected, resulting in the expansion of market fluctuations), investors may have the idea of giving up, causing the entire financial management plan to fail, and make themselves far away from enjoying their retirement life with peace of mind.
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