This is What You Can do to Make Your Retirement Better

Article / 28 November 2018

Share

Preparing for the old age actually can be done anytime, even from today. It does not matter if you are still in the 25-35 year age range and have started thinking about it, preparing for the old days is a complex thing that can not be completed in just 1-2 days. In fact, realizing the importance of this at an early age is probably a very good prefix because many people just put it off. 

As the start, you do not have to begin with things that are too complicated. Here are three things you can do right now to prepare for your brighter old days:

Provide Retirement Savings Fund

Assuming the exact amount of funds that must be saved to ensure your life is safe within the next 30 years (or more) is impossible. There are too many uncertainties that you must experience, such as how the market conditions run, how much income you will receive in the old days, to how long you will live. Therefore, you only need to set realistic saving targets (and try to increase the number as time goes by).

According to the CNNMoney website, a study conducted by Boston College Center For Retirement Research explains that you should set aside at least 15% of your salary to enter your old-age savings account. The 15% figure may look great, especially if you're not the type of person who saves regularly. For that, you can start by setting aside 5% first and increasing that number gradually. You do the best you can.

Read More: 7 Family tourist destination in Bali

Get Business Start Now

Finding additional income apart from the main job certainly does not hurt, it also helps you to strengthen the financial future. Therefore, many people try to start their own side business. If you are interested, there are many business options that you can try, ranging from business in agriculture, livestock, to transportation. 

In the plantation and livestock sector, you can start a business of ornamental plant cultivation to chicken or catfish. These three businesses never lost its popularity. Moreover, the market demand for these three commodities is still quite large. In other sectors, transportation, for example, you can open a school shuttle service. Or if the location where you live not far from the tourist location, you can use to open a car/motorcycle rental services

Read More: 5 Hotel restaurant in Jakarta for family dine-in

Mortgage

The property business (home) is also one of those businesses that never cease. If you have not been able to buy a house in cash, you can use the Housing Loan facility (KPR) provided by banks in Indonesia. Through Danamon KPR, you can buy a house that's ready stock or with indent conditions with a maximum loan of Rp15 billion and a period of 1-20 years. But before you apply for a mortgage, it is also important to know the amount of the credit ceiling, how the interest rate is applied, the length of the filing, the administration fee, and additional features that are available.

But on the way to preparing for the old days, there will be many unpredictable things happening, such as unstable market conditions, corporate decisions to premature retirement so that your old-age savings plans are dormant, to health problems that inevitably make your priorities changed. That is why a review of the old age preparation plan becomes important. You should periodically assess whether or not your plan is progressing. That way, the old days that you desire is no longer just a dream.