How much of a pension should you save up to at least?

[Grant]

What is the least you should have saved up on your pension before retirement? Should it be a ton? Or should it just be enough to live comfortably?

What are your suggestions?

 

[Alexandoy]

There is a government pension for the private company workers and another for the government workers. But the monthly pension is meager, just $200 maximum. If you live alone and you have your own house then you can live comfortably with that amount unless you get sick and be hospitalized. For emergency expenses it is good to have at least $10,000 for peace of mind.

 

[Setfragil]

There are many things that determines the amounts of money that you will save before you retired. Your salary is number determinant, if your salary is meagre it will be difficult to save something reasonable before you retired especially if you do not start saving on time or if your responsibilities at home is much.

 

[Shigobad20201]

Pension savings depend on the organisation you are working for, lets say for example if you are a government worker, your pension is being saved automatically for you but you only need to save a certain percentage if you are a private organisation worker.

 

[eLdavis]

I would advice, if you are following a system that has a maximum limit, then make sure you get to the limit. If there is no limit, then keep saving. Cause no one can predict life or the events that would take place. And i think its best not too rely just on pension only. You can also have investments as well.

 

[Eodine]

Try to imagine what kind of lifestyle you want to live as a pensioneer, how much you wish to spend, if you want to travel, calculate how much money would be enough and save up for it.

 

[Richard92]

this all depends on the amount of salary that you are receiving and what is being left aside for pension but it is wise for a worker to save enough pension for future purpose.

 

[BrolySSJ]

What is the least you should have saved up on your pension before retirement? Should it be a ton? Or should it just be enough to live comfortably?

What are your suggestions?

I think that when it comes to the later stages in your life then you are more pone to appreciate the smaller thing sin life and i think that having just enough for you to be able to live comfortably is good enough as a pension.

 

[Eodine]

I think that when it comes to the later stages in your life then you are more pone to appreciate the smaller thing sin life and i think that having just enough for you to be able to live comfortably is good enough as a pension.

True, the more older one gets, one realizes that there are more important things like family, love, relationships etc all these should be planned for to in advance before retirement.

 

[Trexxxy]

I think you should save enough, there isn't an exact figure on it. Money can never be enough. If you have the chance save well enough to enjoy your retirement.

 

[Kingsley]

This will depend on alot of factors and how much you were earning in active service again your country of residence will also play a major role in all this concepts. But generally speaking one should consider saving something that can be worthwhile when you reinvest it.

 

[GIFTMICHAEL]

I can't tell, cos I'm not a pensioner. A person of a pensioner should know how much he or she will get if it embarks on saving spree and investment that will take him or her to retirement time, much better will be saved and it will help them earn passive during that time.

 

[Kane]

How much you should save for your pension depends on the cost of living in your area and your health conditions. If cost of living is very high, you need a large fund

 

[BrolySSJ]

True, the more older one gets, one realizes that there are more important things like family, love, relationships etc all these should be planned for to in advance before retirement.

Yes, it is important to have a plan. There are some people that live from a day to day basis on what they earn however this is dangerous and you have to plan for unforeseen circumstances, especially when you are elderly and are prone to sickness.

 

[Senator]

That depends on the Individual in question. That is because everyone have their different spending budgets monthly based on responsibility levels at hand

 

[BrolySSJ]

That depends on the Individual in question. That is because everyone have their different spending budgets monthly based on responsibility levels at hand

This is a good point and while some only have to consider themselves there are others that are the sole provider for an entire family and therefore would need much more to run a household successfully.

 

[Eodine]

Yes, it is important to have a plan. There are some people that live from a day to day basis on what they earn however this is dangerous and you have to plan for unforeseen circumstances, especially when you are elderly and are prone to sickness.

And one of the characteristics of planning is timing, you don't plan for retirement a day to retiring it should be something that should have been done before and planned for appropriately.

 

[Mostee501]

For a pensioner to save much before retirement, it depends on how things turnout to be due to some financial situations.

 

[Sariana23]

You do not have to save a specific amount, on the contrary, you should save as much as you can thinking about the future of your old age. You should save as much money as possible, since many things can affect you throughout your life, such as illness, death of a family member, studies, etc., which decreases the capital saved.

 

[tyrim88]

To save for your pension is saving for the rainny day,and when this thing get into your head,knowing that there will come a time where your strenght will no longer carry you again.You need to save substantial amount,and cut less of unessary spending and keep it for your later years.