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Instead of letting your money sit in a regular savings account, one good way to grow it would be to open a personal equity retirement account (PERA). Having a PERA account is extremely beneficial since it entitles you to numerous tax benefits.
22 kwi 2024 · 8 Ways to Build a Retirement Fund in the Philippines. What’s the best way to save money for retirement? Certainly, it isn’t letting your money sit in the bank. Traditional savings accounts in the Philippines earn measly interest rates of less than 1%. Neither is relying just on pension from the SSS or GSIS and retirement benefits from your ...
11 cze 2024 · Early retirement, a dream for many, requires a strategic approach to savings, investments, and financial planning. The goal is to build a diversified portfolio that ensures a steady income stream even after retirement.
10 mar 2023 · The Philippine government provides various pension plans that can help Filipinos save for retirement. These plans include the Social Security System (SSS), Government Service Insurance System (GSIS), and Pag-IBIG regular savings program.
10 maj 2024 · Diversify your financial portfolio. A common mistake among those planning for retirement is focusing solely on savings rather than choosing other investment options. The best way to prepare for your retirement is to make your money earn for you.
current life expectancy of Filipinos is 72 and the standard retirement age is 60, retirement savings could be short by up to 10 years, maybe more. The lack of retirement planning is exacerbated by the general gaps in financial knowledge among Filipinos to manage their retirement finance.
How to invest for retirement for Filipinos. You work hard to save up for retirement. But if your retirement planning revolves entirely around saving money, your strategy needs work. Money loses power over time due to inflation.
