Retirement Planning

Last year, my company invited an officer from the Stock Exchange of Thailand to give a lecture on Retirement Planning. Now I'm gonna tell you briefly about his lecture that I think is useful to your guys.

Have you start saving for your retirement yet? Some of you might think that I'm only 30 year old, there is still plenty of time to save the money. This idea is not good. You should start thinking about how to live your life after your retirement. Don't wait until you are 40 or 50 cause it will be too late. After you retire, you will have no job and no income so how will you pay for food and other expenses such as personnel expenses, health expenses and travelling expenses.

Now, you might wonder how much money do you have to save for your retirement. There is a formula for calculating the money you should have before you retire.

the money you should have at your retirement =
70% of your annual current expenses x the numbers of years you expect to live after retirement

If you plan to live until you are hundred year old, you will need to save more money.

Anyway, when you retire, some of you may get the money from pension fund or coporate welfare fund but the money you get from your company isn't enough for you to live your life conveniently after your retirement. So you should save the money by yourself too.

Please remember, the earlier you save, the more money you will have.