Although saving for retirement should be a priority for us, as a rule, it is pushed into the background by everyday expenses. Numerous studies show that, despite being aware of the low level of our services, few take the right steps when it still makes sense. Meanwhile, saving, contrary to popular belief, is not reserved only for the more affluent.
If we start thinking about this process in the long term, we will manage to secure our future. We can only decide how to do it: whether to save money on our own or take advantage of the opportunities offered, among others, by the Individual Retirement Account. Read – we will help you to take it.
Why is it worth saving for retirement?
The data available to the Central Statistical Office indicate that after paying all monthly receivables, the average Pole stays in the portfolio with only 10% of his income. Theoretically, it is not much, but only if we think in the short term. In the long run, this amount can provide financial security. Let’s try to count it. Let’s assume that we earn 3000 PLN net. The tenth part of this sum is PLN 300.
Therefore, we are able to accumulate 3600 PLN annually, after 10 years we will have savings of 36000 PLN. And with the option that we will not put them on any deposit, savings account or investment fund. Then, thanks to the interest rate, this amount would be even higher. We understand that we have convinced you with these sums and are you ready to take up the challenge today?
Ways to save for retirement
The method of saving for retirement should be tailored to the person who decides to do so and to the current economic situation. The family situation, career stage and form of employment are also significant here. Those who work on civil contracts (mandate contract, contract for specific work) and do not pay ZUS contributions should retire at least 25% of their salary. Self-employed people are advised to save approximately 20% of the company’s income. You don’t need to be an expert economist to know that our Polish pension system is inefficient enough to not provide us with the benefits we deserve.
At the moment it looks lE-Money we are financing the pensions of our grandparents and parents, the younger generation will work for us. There is no change in this pattern, so we can safely assume that if we postpone 20% of the payment for retirement, and we work 3 times longer than it will last, we will receive a benefit at the level of 60% of the earnings we received. That is why it is not worth delaying thinking about increasing this amount for later.
The general rule is that younger people should postpone more for their retirement and invest more, older people are advised to invest in bonds or bank deposits. This is a much safer option because the risk of it suddenly depreciating is small. At this point, we point out that it is worth having at least minimal economic knowledge. This will allow us to move more consciously in the area of finance and choose the right tools. Exploring this topic, sooner or later we will come across those that will enable us to save safely for retirement – on E-Money and IZKE.
Is saving on E-Money safe?
Using an Individual Retirement Account gives you a sense of freedom, because it is not the state that decides how we invest our money and how much of it is put aside for the future. It also does not affect whether or when we pay them. It is only for him to determine whether we must pay capital gains tax if we meet the age requirement.
This is a limit of 60 years or 55 years and pension rights, as well as an internship during which payments were made for 5 years. Let us emphasize – it is not possible that the state will take the savings accumulated on E-Money from us.