You are just starting your career
Following graduation, you may face many challenges as you begin your career. Your financial status and knowledge may fall short when comparing to your older peers, but your youth can be your advantage when it comes to retirement planning. By starting early, you might have a better chance of achieving your dream retirement! Bear the following in mind as you manage your MPF account:
- Actively manage your MPF – Don’t neglect your MPF investments just because you don’t have a huge salary and make limited contributions. In fact, see it as a chance to learn about investing and how the market works. As your contributions accumulate, so will your investment skills.
- Consolidate your personal accounts – Those just starting their careers usually change jobs quite often. This results in a large number of personal accounts, making it hard to keep an eye on investments, let alone manage them. Consolidate your personal accounts each time you change jobs. This will make it easier and less time-consuming to manage your MPF, and seizing investment growth opportunities.
- Prepare early – Many choose to spend their money on travelling and other entertainments rather than invest in their retirement – until it is almost too late. In fact, the longer your investment period, the more your wealth will grow with compounding effect, and the faster you will achieve your retirement goals. With additional voluntary contributions, you can easily grow and manage your retirement investments.
With our Retirement Savings Calculator, all you need is to enter some basic information in order to estimate the savings you need for retirement. Then you can start planning!