Insurance company: About saving money for retirement in Vietnam

Insurance company: As the result of HSBC recent survey, more than 18 thousand people in 17 countries (Europe, Asia, Australia, Brazil ...) in working age is under pressure to save for retirement than before. If previous generations just need 23 years to accumulate enough to retire, the workers of today must take up to 30 years.

The survey also showed that the majority of working-age people now believe that they are not saving enough, with nearly 40% of respondents said that as if they began accumulating earlier. Nearly 30% said they should be saving more.

An alarming figures out that 1/4 of people who are working do not start saving for retirement.

Insurance company: The report also said that plans to prepare for the retirement of Vietnam workers have not been paid attention to. According to the investigation by the General Department of Population and Family Planning in 2015, more than 70% of the elderly to continue living, besides getting support from family; only 30% of elderly people have pensions or subsidies from the state budget.

Insurance company: The Ministry of Health research in 2015 also showed that health care costs for the elderly is higher than 7-10 times than the young people and they use 50% of the dose. This further underscores the necessity of planning for a quality retirement.

To have a life of leisure proactive retirement, the bank's experts recommend that everyone should take the following actions:

1. When planning for retirement, first need to list all your spending needs in retirement.

2. Planning for retirement savings earlier to help you build greater financial funds and have more time to source funds profitably.

3. You can find information, tips on saving for retirement from multiple sources, but necessary to ensure that the professional consultants and reliable.

4. Be prepared for the unexpected financial changes. When saving for retirement in trouble, please review the financial condition of the patient and seek alternative savings methods, to help you continue to plan towards a fulfilling retirement life .