In most developed countries, citizens live not only on the state pension but also on income from their own savings.
1. Account in the bank
Bank deposit is the simplest and most reliable way of saving. Do not underestimate it. If you open a deposit at 7% per annum and top it up with at least five thousand rubles every month, then in 15 years from then you will receive a capital of 1.7 million rubles (or less if the rates on deposits fall). In any case, this money will be saved from inflation (unlike those stored at home).
But there is another danger. The ruble exchange rate is still unstable. And no analyst will try to predict it for 15 years ahead. To reduce the risks, it is better to save money in different currencies. You keep at least 30% of your bank savings in dollars and euro.
By the way, when opening deposits, there is an important detail: keep no more than 1.4 million rubles (this is the maximum amount subject to the deposit insurance system) in one bank.
It is worth keeping only a reserve fund in banks; the amount that is equal to your expenses for six months. The rest of the savings is better to keep in more profitable financial instruments. The most accessible is shares and bonds. It is already possible to buy federal loan bonds (FLB) in large banks, and also open a broker’s account and trade on the stock exchange.
But if your goal is to save up for a comfortable old age, there is no sense to speculate. It is fairly easy to buy securities and create an investment portfolio. The government offers a very convenient way for beginners. If you open an individual investment account (IIA), then you can get a tax deduction (13% from the amount, but not more than 52 thousand rubles a year) from the invested money.
Universal life insurance is a double-action product: you save money and have life insurance. The system works as follows: you place a certain amount to account every month. And when you retire, you get the whole amount plus accrued interest. Or you sign a lifelong payment contract. If anything happens to you before the policy expiry, the heirs will receive the full amount specified in the contract. The amount of contributions, term, insurance cases and other conditions are specified in details.
There is a nuance: you can take the money before the policy expiry, but the company will charge a commission for it. The income on universal life insurance is minimal, besides you are insured for a large sum from the very first day, and no need to buy a separate life insurance.
4. Buy and rent out
This option is not available to everyone. But it is worth to strive for. The algorithm can be as follows: first you solve your own housing problem, and then buy an apartment to rent out. You can even take a mortgage for that. Your task is to accumulate such an initial installment, with which the monthly payments for the loan will be fully covered by a payment from the inhabited tenants. By the time of retirement, it is desirable to close the mortgage. Then you will have an additional passive income.
P. S. The main rule of any investment is diversification (i.e. keeping the money in different financial baskets) and consistency. Money should be saved once a month/quarter and in a few pouches simultaneously. Such a strategy reduces the risk of losing all capital significantly. Ideally, by the time you retire, you must have several sources of passive income: a state pension and your own savings in various forms.
Take an example from business
In general, saving for old age and just saving it is basically the same thing, the same money, side view. The main rule of financiers should be followed here. You should ALWAYS earn more than you spend.
Take an example from an existing business. When an entrepreneur makes a profit, he spends part of the money on himself, part of it goes to reserve, and part is invested in business development. This is the balance that keeps the business owner happy, and his company grows.
The same story is with the personal finance. In addition to life expenditures, you have to have a stash of cash and make investments for the future.
- In the terminology of Fazil Iskander, people in relation to the personal budget can be divided into "rabbits thoughtful" and "thoughtless", says Sergei Pyatenko, head of the FBK Economic and Law School. "Why think about your own money?" Indeed, you can just be a rabbit. Live fast, poorly, without thinking. But you can reflect on how to become more independent and reduce the risks in your life.
Photos per websites: 1obl.ru, yeshealth.com