Home Bank: the best time to save for retirement is 37 years old
Analysts from the Home Bank Consumer Research Center surveyed respondents aged 30 to 65 years and found out how different audiences are preparing for retirement. Those surveyed also named the age that is best to start planning for income in old age. Lenta.ru reviewed the results of the study.
It turned out that among Russians over 30 years old, only 27 percent are saving for retirement. 53 percent are not yet doing so, but are planning to. 3 – have already saved for retirement as much as, in their opinion, will be enough to maintain their usual lifestyle. Another 17 are not postponing and do not plan to do so.
The most popular method of savings is bank deposits – they are chosen by 60 percent of respondents. In second place are bank cards – they are preferred by 36 percent of respondents. Another 26 leave their savings at home. Fourth place is shared by investments in securities and transfer of pensions to the Pension Fund (21 percent). In fifth place were investments in real estate (18 percent).
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According to respondents who have not yet retired, it is time to start preparing for retirement at age 41. Those Russians who have already retired noted that they actually began preparing for retirement at 45 years old, and called 37 years old the optimal age for starting preparation.
“Data show that most often a person begins preparing for retirement later than planned. It is worth taking into account the experience of older generations and not putting off this issue. We consider 37 years of age to be a good time because this is when a person most often approaches the peak of his or her economic activity. Also, at this age, we are more open to learning different savings tools and increasing our level of financial literacy, which in the future will allow us to better prepare for the retirement period,” commented the Home Bank press service.
Earlier, State Duma deputy Svetlana Bessarab warned Russians who receive salaries in envelopes about low pensions.
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