This is the money you must have saved at the bank when it comes to retirement: “You have to think how much you are going to collect from the State”

Spain faces in these times a debate on the sustainability of the pension system. It is now when the Baby Boom Generation And, in this sense, various system reforms have been raised to try to guarantee income compared to the number of people who begin from this moment their withdrawal from the labor market.

In addition, the result of the above, there are many who wonder if the pension that is left in the future will be sufficient to maintain their standard of living. That is why many people wonder how much they must have saved at the time of retirement.

In Spain, in 2025, the legal retirement age is 66 years and eight months. Those with long work careers with more than 38 years quoted can retire with 65. Likewise, Spain is one of the countries that lead life expectancy in the EU with 84 years. This opens a long period in which a pension.

There are several methods to know how much you have to save for retirement

There are various methods to calculate How much we should have savedalso taking into account that life expectancy can continue to grow or the increase in the standard of living. According to the initiative ‘Finance for all’ of the National Securities Market Commission (CNMV), the Bank of Spain and the Ministry of Economy, Commerce and Business, in general during labor withdrawal “Between 70% and 90% of revenue prior to retirement”.

With an example, they establish that with a salary of 2,000 euros a month they will be needed between 1,800 and 1,400 euros to maintain the same standard of living later.

There is another practice, known as the ‘Greene method’ that establishes that the ideal is to spend 75% of the salary and save the remaining 25% as a measure of getting used to saving. For each age, a level of savings should be met with the aim of reaching 65 with savings equivalent to eight gross annual salaries and establish the total of 200,000 euros.

The money you should have when you retire

In Spain, Professor Javier Díaz-Giménez, of the IESE Business School, conducted a study in charge of Trade Repúblic in 2024. According to the expert, investing 50 euros per month for 40 years in an investment plan with an expected real profitability of 7%, the accumulated savings for retirement will be 128,166 euros. However, he explains that you have to be attentive to the commissions of some products.

Therefore, he concludes that for The retirement age must have saved an amount equal to the purchasing value of 120,000 euros In order to complement the public pension with additional 1,000 euros per month for 10 years.

Díaz-Giménez explained in ‘Ana Rosa’s program’ that the best day to start saving is “the day you are born” and has warned that in 2044 the Spaniards born in 1977 will begin to retire in 1977, the most large generation. «You have to think The years you calculate that you are going to live, how much are you going to collect from the State and how much do you want to complete the pension. The Spaniards have a lot of savings in homes and that must be taken into account, ”he explained to the program.

In his study, the professor warns that the pension system deficit forces “forced” adjustments, although he has also reassured the program by saying in the future the generations will be smaller and will allow us to unlock the system.