By having sufficient retirement savings, insyaAllah, you can retire comfortably. There are many sources of funds that can help you get through your golden age when you no longer work comfortably, such as funds at BPJS Employment and retirement funds from your company. However, depending on each person's lifestyle and needs, relying on both is not necessarily enough.
How to Prepare to Save for Retirement Funds
There are several factors that need to be considered to find out how much savings you need to have to be able to retire happily and not burden family members or relatives.
1. Estimate what your needs will be when you retire
To know how much money you need to prepare, you can make a list of your needs during retirement. Don't peek at other people's needs lists. Everyone's needs are different. Your needs don't have to be the same as other people's needs.
For example, when you retire, you want to live a relaxed and simple life and want to spend more time with your children and grandchildren. Or, you want to start exploring the world, something you didn't have time for or rarely did when you were working. Of course, traveling costs much more than spending time with family.
2. Take age and health factors into account
It cannot be denied that increasing age is generally accompanied by increasing health problems. Therefore, do not ignore them. Apart from retirement funds to meet your daily needs and lifestyle, you also need to prepare savings for health matters.
3. Don't forget about inflation
The next important thing you need to take into account is inflation per year. It's true that the percentage isn't certain, but you can take the average. As you live your life year after year, you have certainly experienced something called inflation.
4. Decide when you want to retire
No less important, and perhaps more important than all the factors above, is deciding when you want to retire. The timing of retirement has a big impact on the amount of savings that must be prepared. The sooner you want to retire, the greater the amount of savings you need to prepare. Retiring earlier means that you will no longer be working for longer and will only be relying on your savings or assets.
How Much Money Need to Be Prepared for Retirement?
As a rule of thumb, you need to have at least 80% of your pre-retirement income (source: Fortune.com).
So, for example, if your income when you were still working was Rp600,000,000 per year, then your target to achieve is to have a minimum of Rp480,000,000 per year once you retire to live comfortably.
However, the number needs to be adjusted to the changes in needs and lifestyle before and after retirement as well as the various factors stated above.
Best Retirement Savings Options at Jago Syariah: Sharia Deposit and Bibit Mutual Funds
Whenever you want to retire and whatever lifestyle you want to live after retirement, the best step you can take is to prepare retirement funds by starting to save early on regularly. The way to do this is by allocating a portion of your income to be saved as a retirement fund.
There are many reasons to choose to build your retirement funds with Jago Syariah. The best options for you to consider are the Sharia Deposit and Bibit mutual funds.
1. You can live your retirement happily, thanks to your retirement savings in the Sharia Deposit
By saving money in the Sharia Deposit, you can get a profit sharing as this Jago Syariah product uses Mudharabah Muthlaqah akad in accordance with sharia principles.
Apart from that, the more your retirement funds are saved in the Sharia Deposit, the greater the profit sharing you can enjoy. When opening a Sharia Deposit via the Jago application, make sure you select the automatic renewal of principal funds and profit sharing mode at maturity.
By choosing to auto renew, you ensure that your retirement funds are safe until the time comes for you to retire because they will not be used for other purposes. It's best not to touch your retirement savings at all.
2. You can live your retirement comfortably, thanks to your sharia mutual fund investments in Bibit
By having a Jago Syariah account, there is another option for preparing retirement savings besides the Sharia Deposit. Considering that saving for retirement is a long-term financial goal, you can also invest the money you have now in mutual funds.
Investing in mutual funds becomes easier and more practical with the Jago Syariah digital ecosystem with Bibit. Link your Jago Syariah account with your Bibit account to start investing. Don't forget to activate the sharia mutual fund product preference in Bibit for greater peace of mind and blessings.
With Jago Syariah and Bibit, you can enjoy free top-up fees for sharia mutual fund investments and the ease of monitoring your investment progress directly from the Jago application. Purchase and disbursement of Bibit mutual funds can also be done quickly via the Jago application.
So, are you ready to live a happy retirement blissfully and with peace of mind? Time to start consistently saving for a comfortable retirement from now on. Don't delay.
