Best way to plan for retirement

Planning retirement remains one of the pending subjects of our country. In the absence of a culture of having complementary savings products, the remoteness with which the moment is seen and the daily worries that distract from that objective are joined. Young people tend to devote their full attention to saving in order to become independent or, at best, to make a trip to a distant destination. And that, those who have a job or a sufficient salary that allows them to think of "whims." Below we can know the best way to plan for retirement.

With the current panorama of job uncertainty, it is not surprising that people put other needs before planning their retirement. However, experts recommend starting to raise this issue, if not at the right time to enter the first salary, at least as soon as possible. This recommendation responds to pure logic, since the more years you invest in saving, the more money you will have accumulated when the time comes to retire from working life. In this way, you get to take advantage of the multiplier effect that long-term savings achieve and you also turn the savings objective into a more bearable goal by having more time to accomplish it. In many cases, it is only necessary to change the mentality a little and understand planning as an additional expense, even if it is minimal, then attending month to month.

Planning for retirement can be complicated if you have never had in mind the possibility of doing so. However, there are some steps to take and a wide range of banking products that will make the savings process very simple. You just have to know them and opt for the measure or measures that best fit our needs.

Calculate the retirement that would apply to you

Before deciding on a savings product that allows you to plan your retirement, it is important that you make an estimate of the state pension that would correspond to you. This will allow you to make an approximate calculation of what you will receive when you no longer work and see in a simple way how much additional money a month or year you would need to maintain the standard of living that you currently lead or the one you aspire to lead. Depending on the money you calculate you need to save, you can better choose what type of product you want and how much monthly money you should invest in it.

To calculate the retirement pension, the first thing to do is to know our regulatory base. For this, in accordance with what is in force for the year 2018, the contribution bases of the 252 computable months (21 years) must be divided by 294, in which the contribution base of the month of the causative event and that of the previous month is excluded the same.

No matter how old you are, if you are already incorporated into the world of work, it is time that you seriously think about planning your retirement. If you want to simplify the process of comparing and contracting savings products, find out about BBVA's extensive catalog. In addition to knowing quickly and easily the wide range of easy savings possibilities that are within your reach, you can also calculate your future retirement pension.