Only 5% of those under 35 save to secure their future
The saving in families it is one of the most important aspects. Saving money thinking about the future is a great idea to face unforeseen events or to have a cushion for future events such as the payment of university studies. With these practices people can also prepare moments of their lives as their retirement.
How is he saving among Spanish families? Do you have your economic future in mind? The Fintonic Study has focused on this topic: Savings and retirement in Spain. The results of this investigation have found that the people of this country are not very farsighted for their retirement, nor so little do they consider possible difficulties to reach the end of the month.
Below the recommended
The data of this study highlights that four out of ten Spaniards assure that they can save between 10% and 24% of their income. On the other hand, 20% reserve between 25% and 49%. Lupina Iturriaga, CEO of Fintonic, ensures that the reason for these figures is that "we are not aware of the need to invest in private pension plans, despite the obvious concern about the future of public pensions."
And who save more for this future? Depending on the age, it is found that only 5% of children under 35 years saves money for his future. The percentage grows to 22.2% among those who exceed the mentioned age. The place of residence also influences when planning the future.
The Rioja, Basques and Canaries are the ones who are most concerned about having a good retirement, given that they are at the forefront regarding the contracting of pension plans: 16.4%, 14.3% and 14.1% of the population, respectively. On the other hand, to the tail there are the Asturians, only 9.5% are proactive towards the end of their working life, followed by 10.9% in the case of Navarre.
Tips for planning the future
From Fintonic the following are san tips when planning the long-term future in the field of savings:
- The optimum age to start a savings plan for retirement is at 30 years, although the ideal would be to open a pension plan from the beginning of working life.
- Planning should contemplate a progressive increase in contributions as the years progress.
- Whenever we have an extra income it is convenient to dedicate a part to the reserve destined for retirement.
- There is a type of plan for each age. The higher the age, the lower the risk should be. After 50 years, it is best to choose funds from fixed income (70%) and variable income (30%) and as the time of retirement approaches, only choose fixed income financial products.
- It is advisable to analyze periodically if there are superfluous or unnecessary expenses that could be used in the future: try not to pay commissions, adjust insurance and the payment of services at market prices, avoid being overdrawn and in the case of needing a loan look for the conditions that best adapt to each profile.
Damián Montero
