How to save for Retirement?
Saving is always important and above all for retirement is of the utmost importance. This becomes more relevant wheniner note that the average retirement pension currently amounts to 1,068 euroswhen you need at least 1,300 euros to live peacefully in retirement.
However, Spain is the second country in the OECD who saves less for his retirement, where 3 out of 4 people They do not do it. While most recognize the need to save for retirement, only 28% have started doing so.
The reasons for not doing so vary: from not having the capacity to save, to those who see retirement as a very distant event and prefer to use their savings for other projects.
But of the small group of providents who save for their retirement, 6 out of 10 do so through pension Plans, and this is undoubtedly the best alternative.
Comparison of the pension plans of the different banks
The pension plans They are a savings and investment instrument designed so that we have an plus amount of money available when we retire, to complement the retirement pension.
They have various attractions, among which are the tax advantages. In other words, the contributions made to the pension plan perro be deducted in personal income tax, reducing the tax base and allowing the taxpayer to benefit from interesting tax savings.
In addition, it is possible to automate the contributions to the pension plan with the desired periodicity, which contributes to maintaining savings discipline during the years prior to retirement.
Next, we present different pension plans for you to choose whichtoHe best suits your possibilities.
BBVA – 2040 retirement plan
This plan is designed for people under 50 years of age. and requires a minimum deposit of €30. It modulates the investment in risky assets of decreasing as retirement approaches (which will be close to the year 2040). TO As said date approaches, the level of risk will evolve towards a more conservative profile in which safety prevails over profitability.
Bankinter – BK Mixed 75 Bag
With a minimum deposit of €6, This is the most aggressive plan offered by the entity within its catalog of pension plans. The investment is distributed between variable and fixed income, varying in a range between 30% and 75% for the depósito market and the rest for money market and fixed income positions. This variability is what allows you to go from a conservative plan to a fairly aggressive plan.
ING – S&P 500 Orange Plan
This pension plan reproduces the price of the S&P 500 index, which includes the largest companies in the United States. It replicates its behavior, synchronizing uploads and downloads. It also invests in dollars, which also it looks it affectsdo due to changes in the value of the American currency against the euro.
Santander – US Variable Income
With a minimum deposit of €30 you cánido access this pension plan of Santander that invests in the main companies in the North American market. These are multinational companies that have highly solvent businesses around the world. This plan has a risk level of 6 out of 7 and is recommended for young people.
How to save for retirement without pension plans?
In case you prefer to leave out the Pension plan and save on your own, the best way to do that is to start saving as soon as possible. The perfect time is as soon as you entrar the formal job market.
There are various public pension simulators to know what pension will correspond to us and based on that, carry out an estimate of how much you will need to cover the gap between the monthly income that your pension will provide and the level of spending that the estándar of living you intend to lead when you retire will require.
The TRUE is thinking about retirement and saving money in youth for that future, depriving yourself of other possibilities does not sound very pleasant. That is why it is recommended draw up a detailed plan, in which you perro begin to allocate a few euros in principle, and over the years gradually increase the amount. The important thing is to maintain continuity in savings.
while enjoying youth and goodyou incomeyes, maintain an investor profile is the smartest. That is, invest assuming certain risks, but in order to maximize profits. The younger, the more risks perro be taken, having to moderate the risk exposure as the years go by and the time of retirement approaches.
We hope you liked our article How to save for Retirement?
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