Having savings is very important, not only for now but also for old age. Did you know that you can live off your future savings so that you can live your old age worry-free and without financial burdens or worries? If this is a financial goal (Moneyfesting) that you want to achieve, start doing this now.
Save Regularly Without Hassle with Jago the Way You Want
In order to be able to live off your savings when you no longer work or have an active income, you must have enough money and start saving regularly from now on.
Benefits of old age savings or future savings
Money in savings has many benefits. Apart from being able to fulfill daily living needs without having to rely on or burden children or other family members (reference: Investopedia), you can also use savings to deal with emergencies or unexpected events.
If you have more savings, you can also use them to realize any financial goals for the future or in old age.
Save disciplinedly through regular budgeting using the Jago Pocket and automatic saving feature
While you still have an active income, you can start getting into the habit of saving regularly. The way to do this is by budgeting with discipline. Allocate the income or salary you receive for savings. Create 1 Jago Pocket for future savings. No need to worry, through the Jago application you can have lots of Jago Pockets for many needs.
Through the Jago application, you can also choose the budgeting method that suits you, whether manually or automatically. You decide it yourself according to your needs.
Furthermore, not only does it allow you to budget automatically to save time and energy, the Jago application also makes it easy for you to save automatically. For every Saving Pocket that has been created, including the Savings Pocket for future savings or retirement savings, you can use the automatic saving feature available in it. Set the amount and time of saving the way you want.
Where is Best to Have Savings for the Future or Old Age?
To be able to live off your savings in the future, you can start saving money in the form of deposits and mutual funds. After having enough savings in the Jago Pocket, you can move the funds to deposits and mutual funds. Why? Continue reading until the end to find out why.
Live off Deposit Money for the Future the Way You Want
Many people say that old age is best if you can live off money or interest on deposits. Is it true?
What is the difference between deposits and savings?
Deposits are different from regular savings. Regular savings, such as in the Saving Pocket, are savings that can be withdrawn whenever needed. Therefore, saving in the Savings Pocket is suitable for financial goals that will be achieved in a shorter period of time.
Meanwhile, for deposits, the money will be saved for a certain period, which you can choose at the beginning before opening or creating a deposit. Thus, deposits are more suitable as a place to save for financial goals that will be achieved over a longer period of time than regular savings. In general, saving in deposits also gives you greater interest than saving in regular savings.
Will saving money in a deposit benefit you?
There are many benefits you can get by saving money in a deposit. If you save in a Jago Term Deposit, you can choose a saving period from as short as 1 month.
This way, you will get interest every month when your Term Deposit matures and can live off the deposit interest. The more savings you have in the Term Deposit, the greater the interest you can receive every month.
Apart from the interest, of course you can also live off your deposit savings if you decide to cash it in or close it when it matures.
By saving regularly from now on, you can also enjoy the power of compound interest. Read more about compound interest in this article.
Another benefit of saving in the Term Deposit is the flexibility of withdrawal. This benefit can be utilized if something unexpected happens in the future. In an emergency, you can withdraw your Term Deposit at any time without penalty fees. Withdrawal is made directly from the Jago application and the deposit balance is processed into the Main Pocket immediately.
How much is the interest on a 100 million deposit?
Are you curious about how much interest you can earn by investing Rp100 million? Currently, the Jago Term Deposit provides interest of 5,25% per year if you have savings worth Rp100 million or more. You can see a simulation of Jago Term Deposit interest calculation in the image below.
What if you save under Rp100 million? You will still get competitive interest from Jago Term Deposit. Check details of the latest interest rates on this page.
Benefiting from Mutual Funds: How to Invest Regularly Using Jago the Way You Want
Apart from having savings in the form of deposits, another option that can be considered is investing in the form of mutual funds. Once you have a Jago account, you can take advantage of the Jago digital ecosystem with Bibit for practical and easy mutual fund investments.
Purchasing mutual fund products at Bibit is free of top-up fees if you choose Jago as your payment method. To be able to use Jago as a payment method, first link your Jago account and Bibit account. If you don't have a Jago account, you can download the Jago application and then complete the Jago account registration. Or, you can also register Jago from Bibit.
Apart from no top-up fees, another benefit you can enjoy is that you can invest or save regularly to ensure future savings continue to grow over time. Use the Jago Autodebit feature available in the Bibit application. Once active, you can immediately save in mutual funds automatically with the frequency you want. Available frequencies are daily, weekly and monthly.
Apart from that, you can also monitor your investment portfolio and disburse your mutual funds in Bibit via the Jago application. This way, you are free from the hassle of switching applications. When mutual funds are disbursed, the money will go into your Jago Pocket.
So, in the future you can live from your current savings and live your life with peace of mind. Choose a way and place to save or invest that suits you, the way you want.
