Are Your Savings Sufficient for the Future?

Are Your Savings Sufficient for the Future?

A few years ago, Dina desperately tried to lose weight and she did not know where to start!
After much thought, Dina realized that her biggest problem was that she was constantly pegged to her ultimate goal - losing 15kg - and thinking to herself, "That's too much. I will never make it. "
Then he tried different things.
First of all, Dina tried to cut two pounds. Once he had done it, he tried to cut five pounds.
Then another 5 pounds.
Believe it not? Within a year, Dina managed to reduce the weight of 15 kg!
The key is to make small targets and feel good about yourself. This is what keeps Dina motivated and on the right track. The same principle can be applied to saving habits.If You Start Working Age 22 ...
So, how much does a person have to have big savings targets at 25, 35, 45, and 55?

                                    Target Savings
At the age of 25 worth 11 months of salary
At the age of 30 worth 2.5 years of salary
At the age of 35 is worth 5 years salary
At the age of 45 worth 12 years of salary
At the age of 55 worth 27 years of salary
Here's how a person can reach this level:

    Set aside at least 20% of salary or income each month. Yes, initially it must be difficult, but at least try to continue to achieve this target
    From your annual bonus, set aside at least 50% and the rest you can use to give "appreciation" for yourself
    Have an investment with a yield of 15% per year
Here are some benchmarks for consideration:

    At the age of 25 years - or when you have saved about 6 months of income, you should consider investing in the stock market, either directly or through other instruments such as mutual funds or unit link. Focus on blue chip stocks you buy and keep for 10 years or more.
    
    At the age of 30, consider buying property. It may not be your dream dwelling, but rather serves as an investment to protect you from inflation. Use some of the money you invest in stocks as a down payment (DP), then borrow the rest. Find an apartment or house in an area with great potential in the future-because the property in the downtown area may not be bought at this time.
    
    At the age of 35, you can upgrade by selling the property you own, or buy another one-to stay, or to rent. Keep investing in blue chip shares, either directly or through mutual funds or unit link.
     
    At the age of 45, start investing into instruments that will provide you with cash flows for retirement, for example bonds, property, stocks and holdings that provide dividends.
    
    At the age of 55 years, you can leave your work quietly and not have to worry about money. Your savings over the last 25 years will fund your life.
"I'm 35 years old and have not got any of this!" Do not worry. There is still a way to catch up:

    Increase the amount of savings per month. Not only 20% for savings, you need to set aside 30% or more.
    Saving more bonuses. Instead of spending 50% or more, you may need to resist the urge to indulge and save / invest with your 70% bonus.
    Keep motivating yourself. Take your view to a smaller target and do not worry too much if you do not reach the target. You must also keep an emergency fund and insurance, so that if something unexpected happens, your cash flow and savings will not be affected.