Retirement Planning for Salary Workers: Start Early, Retire with Dignity
Why retirement planning is urgent
Pension replacement rates are falling, and healthcare costs rise with age. Starting early reduces the monthly burden.
A simple target method
- Estimate desired retirement monthly spending
- Assume a conservative withdrawal rate
- Calculate the required retirement portfolio
Three pillars
- Public pension (baseline)
- Employer plans (if available)
- Personal retirement savings (the gap)
A practical contribution rule
- Save 10–15% of income for retirement if possible
- Increase by 1–2% after each raise
Common mistakes
- Waiting until late career
- Investing retirement funds too aggressively close to retirement
- Ignoring healthcare costs
Quick checklist
- Define target retirement age and spending
- Automate monthly retirement contributions
- Review asset allocation every year
Disclaimer
This article is for general financial education and information only and does not constitute investment, insurance, tax, or legal advice. Please make decisions based on your situation and consult professionals if needed.