The desire to accumulate wealth is a natural instinct shared by people across the world. Whether the aim is to save for a more secure future for you and your loved ones, or for a speciﬁc purpose such as the funding of your children’s or grandchildren’s education, or perhaps that well earned retirement villa. For most people the only way to achieve this is to save for it, and a convenient way to do that is on a regular basis. Time ﬂies, so saving regularly can soon become a habit. Therefore it’s often surprising how quickly savings can grow, giving you the ﬁnancial security and the ability to afford the things in life you really deserve.
At Asia Pacific Pensions we can offer regular savings contracts from as little as £200 p/month ($300). Today’s global environment demands a savings product which is tax efficient and capable of maximising returns, while also allowing the widest possible ﬂexibility so that, as your circumstances or objectives change, your investments are free to adapt with you so that you can plan for a better future.
So when should we start saving?
The following table shows the percentage of salary required to achieve a retirement fund of $1 million at age 65, based on the assumption that the client’s annual salary is $150,000
Age Monthly premium Annual premium % of salary Total premiums paid
35 $1,073 $12,876 8.58% $386,280
40 $1,553 $18,636 12.42% $465,900
45 $2,289 $27,468 18.31% $549,360
50 $3,615 $43,380 28.92% $650,700
55 $6,450 $77,400 51.60% $774,000
So the message is very simple……the sooner you start saving for your retirement, the better!
The above article is reproduced by Asia Pacific Pensions
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who can be contacted either by email at [email protected] or alternatively by telephone on either: 038 074644 or 0800 178 269.