Blog Post --- Published on July 23, 2021 | Last Updated on February 03, 2024

Zero Retirement Savings? Let’s Start Saving in a Locked Pocket for Its Many Benefits

Tabungan Dana Pensiun Masih Nol? Yuk, Mulai Nabung di Kantong Terkunci Karena Banyak Keuntungannya Don’t Have Retirement Savings at All? Locked Pocket Helps You Secure Retirement

In this article, Jago wants to talk about retirement. Many of you reading this article may not have thought about retirement at all, because it will only happen years from now. Some others want to focus on living their lives in the present moment first. Save retirement for later, they might say. That’s why they don’t have any retirement savings at all.

Actually, there’s nothing wrong with focusing on life in the present moment. Having fun is important and dreams need to be fulfilled now while you can and when the opportunities present themselves. It’s not a good idea to just work all the time.

However, planning for retirement is no less important. With early planning, later you can enjoy what is called self-sufficient. Dependence on others can be minimized.

One way to be able to enjoy retirement with peace of mind and comfort is by having sufficient retirement savings to at least support daily needs and urgent situations.

Regarding retirement savings, a question may pop up in your mind. I agree that retirement savings are a necessity, but talking about age, ideally, when should I start saving?

Although there is no age benchmark for starting to save for retirement, you can start setting aside money as early as possible. The reason is simple. The earlier you save, the longer the time your savings have to grow.

In the following year, the amount of savings and interest you earn from the current year will generate an even larger amount, assuming a stable interest rate every year. This does not include the amount of money you set aside each month in the following year. The pattern continues until it’s time for you to enjoy retirement.

The Importance of Setting Aside Money from a Young Age for Retirement Savings

In addition to the reason above, there are two other important reasons for you to start saving for retirement as early as possible:

1. Not to burden your children and family

Retirement means your main income is no longer there. If you were used to receiving a salary every month from the office, when you retire you have to pay for yourself. There is no salary to depend on.

As briefly stated above, by saving from a young age, you reduce your dependence on others. If you have sufficient retirement savings, you will not be a burden to your children and other family members.

2. It’s more than just getting by retirement

Some dreams or desires might have not been fulfilled before retirement. But once you retire, you’ll have plenty of free time to start making things happen.

Some of you want to fill their old days by traveling or pursuing other hobbies. There are also those who want to help pay for their grandchildren’s tuition, for example.

So that later you can comfortably retire and make your unfulfilled dreams come true, you can start planning by saving from an early age. This way, you will be able to achieve your financial goals.

3. Setting a good example

Those who care about their friends must set a good example. Once you start saving and enjoy the benefits, you can share it with all your friends. They will also be inspired and start saving for a worry-free retirement.

For those of you who are married and have children, as parents you can be a good example and teach your children not to waste money and save for important things. They will get used to having savings and later become skilled at managing personal finances.

Secure Your Retirement with Locked Pocket

Now, you already intend to save, but are confused about where to save or grow your money. In general, the minimum limit of term deposits can make your intention to save evaporate instantly. If you invest in other instruments, there are market risks to consider. If you just leave it in the bank, the interest is not high and it will just make you sad.

Pause right there. If the bank is Bank Jago, you will not be sad, but instead will jump for joy. Why? Because the interest given is competitive.

It’s very simple and hassle-free. As soon as you download the Jago application and have a Jago account, you can immediately create a Pocket. To make it sound cool and encourage you to save more, you can change the Pocket’s name to Pocket for a Secure Retirement.

After that, you can start putting in some money. For a Locked Pocket, the minimum deposit amount is only IDR 100k. It does sound small, but if you start saving IDR 100k per month after receiving your first salary, for example, that amount, when accumulated, will be very helpful once you reach retirement age.

Now it’s time to lock your Pocket. Because the purpose of saving in this Locked Pocket is for retirement, it is best to continue locking for a very long time. This way, you won’t be easily tempted to spend it on unimportant things.

Enjoy a secure retirement as you become a Jagoan in saving money and being disciplined.

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