Most people who are in the workforce think they are too young to worry about retirement. Traveling, enjoying a good meal and going out with friends have become the primary expense, leaving aside the retirement savings or retirement.
According to a study carried out by the National Commission for the Protection and Defense of Users of Financial Services (Condusef), only 36% of the current population has set aside part of their retirement money.
Although the AFORES they have been in existence for more than 20 years, few really know how they work or do not know other ways of saving and investing for retirement and for the above, they continue to save their money from under the mattress.
According to figures from World Population Aging Report of the UN, by 2050 more than 25% of the population of Mexico will exceed 60 years of age. Does it seem little? The same report mentions that from 1980 to 2017 the population of this age increased almost threefold worldwide, going from 382 million to 962 million people, therefore to prevent older adults from living in situations of vulnerability or economic dependence on their children, it is necessary to invest in a savings system that allows them to maintain the quality of life they have led up to now.
5 myths about saving for retirement
There are several myths about retirement that people should dispel to get the most out of their life project. In this way, when the time comes to retire, they will be able to enjoy the benefits of investing in their future and maintaining a decent lifestyle.
Next, I explain some myths that surround the subject of retirement and how to overcome them.
1. Saving in an AFORE is very complicated
Today it is easier than it seems, since there are channels to make voluntary savings easier. There are some institutions that deduct a certain amount from your bank account without having to suffer the loss.
2. I’m still young to think about that
It is the most innocent thing you can think of, look at it this way, if you save from today, when the time comes to retire you will have more capital than if you started at a later age, in the same way, if what you are looking for is to generate more money, you I recommend my free ebook 5 strategies to earn extra money to reach your financial goal in a shorter time.
3. That’s why I have children
Thinking that your children are going to cover all your expenses is the biggest mistake you can make. You will always have support, but keep in mind that they also have expenses. So avoid becoming a dependent being and better invest your money.
4. I already have a lot saved, I won’t need as much
Unforeseen events can always arise and if you have not contemplated them, they can bring you headaches. If you already have an amount saved, invest it so that you can enjoy the returns generated when the time comes for your retirement.
5. My savings are well in the bank
Banks are usually controlled by inflation and depreciation of the peso, so your money is not completely safe, remember that money that falls asleep is taken away by inflation.
You probably felt identified with any of the previous statements, if so, see the opportunities you have to grow your money and convince yourself that it is never too early to invest in a retirement savings system, either with your Afore or with some other investment tool, which will help you maintain your lifestyle for when the time comes to retire and enjoy a full and carefree old age.