The income that you have gained since the young age not only needed to fulfill the present nessecities. However, we also need to think about long term finance.
The pension fund also very essential to prepare the old age until we do not experienced the financial trouble. Up to this time, the pension fund are frequently be financial goal, but it is not well-prepared.
Before you regret for not preparing the use of pension fund well, here are the steps to make utilize the pension fund cited from various sources.
1. Save the money for pension fund since the young age
The Head of Sales and Distribution Ashmore Asset Management Indonesia, Seteven Satya Yudha assessed that Indonesian people should be hurry to prepare for the pension fund. At least, they should payy in installments 30 years before the pension period.
2. The 20-30-50 Rules.
In the managing the finance, follow the 20-30-50 rules. Use the 50% of the income for food, residence, and transportation necessities, the 20% for the save including the long term payments and pension fund.
3. Controlling the outcome
Before quitting from the work, you should prepare for your pension time earlier. You can learn to control your outcome by cutting the fund for vacation or any entertainment like watching movies in the cinema and hanging out. In addition, you may change your friendship circle and get along with those people who do not like hanging out or buy the expensive stuffs.
4. Extend the pension period
Usually, there are two choices of the pension age which are at the 55 or 60 years old. Moreover, if you hold a strategic position in the previous company, the pension age may be extend until the age of 60.
However, the extension time is only within 5 years that youd should truly preparing your pension fund and can enjoy the old age.
5. The Asset Restructuring
By knowing your asset, you will know whether you should sell it or not. You may also divide your asset into two part, the one that you utilize for your own need and the other for rent.
In the pension age, peolple usually choose to live in a rural area which is far from the city because the price rent and living cost are more affordable.
6. The Debts Restructuring
If you should start to bill the loan from other people because you nearly need to use it. in order to avoid the long-drawn burden, you should also pay off your loan and debt. Therefore, you surely reduce your resposibility and you can enjoy your life.
7. Franchising
One of the business that you may run to substitutes your income source is begin to open the restaurant branch by franchising system because you just need to monitor the business.
However, it also has the risk as the other business. You must know and learn about the business to make sure that the business could be the subtitute of your work after pension period.
