Pension expert Manuel Álvarez Rodríguez (Bachelor of Economic and Business Sciences) has recently published a book (‘Pensions: The Rota Promise’) where he explains some important points for those who want, for example, requesting early retirement or need to organize when the retirement age is coming. Experience in this field does not lack, since this author has worked as an advisor to the Ministry of Inclusion, Social Security and Migration, when the portfolio José Luis Escrivá (now governor of the Bank of Spain) occupied.
In addition, managing to retire in advance before the age marked by Social Security, seems a complicated challenge because the public pension system continues to generate some doubts, the cost of life has increased and many young people do not even consider what will happen to them when they stop working. In an interview with Men’s Healththe pension expert highlights that these problems would be solved if, from an early age, it began with a good Financial Strategy.
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His book, published by Lid Editorial and is already on sale, is for Álvarez the best way to explain his personal experiences. Because for so long focused on the Social Security pension system, both doubts and mistakes that are made and that They reduce the long -term savings capacity.
Thus, part of the base that at 30 or 40 years, a person should already be working and not only that, but to have some stability. That is, your salary allows you to allocate a part to save when the time comes to collect the pension. You cannot start thinking about what will happen when you stop working at age 50, you have to do it much earlier, as Álvarez explained in the middle cited.
The mistakes that should not be made before reaching the retirement age
Retirees, to enjoy their retirement from working life, must have a background saved in their accounts. But this money does not appear out of nowhere and the pension expert has analyzed during the interview what are the main mistakes made, especially among people who are 30 to 40 years to warn future retirees what they should not do.
“You have to start saving for retirement before 30”
Leaving aside savings is one of the most committed failures, as this pension expert has been able to verify. “You have to start saving before serving the 30”, a proposal that is often complicated because many wait for their salary, or have the house paid to start thinking about what will happen when they begin to collect their retirement pension.
And the sooner the effort will begin, in the end the effort will be less. It is better to start “from the first salary” as already done in other European countries.
Saving is more complicated for self -employed workers
Manuel Álvarez is clear that, when he is a worker on his own, it is much more complicated to be able to save for the pension. “They quote less than they should and that happens to them. Their pension is 40% lower than that of employees and that happens to them.”
Invest in wrong financial products
Banks often offer financial products that do not help the worker to save for retirement. The reason is simple, and it is none other than “benefiting the bank, but not the client.”
The most advisable, in case of wanting to do so, is to look for products that have a low cost, good diversification and that are managed by trusted people. And avoid everything that is not understood.
“Avoid unnecessary expenses”
Although the perfect time to start saving is 30 years, if you can advance, better. Another aspect that directly affects the economic well -being of future pensioners is lifestyle. “We do not talk about living with the right thing, but to avoid expenses that are superfluous.”
“The best time to start saving was yesterday, the second best, is today.”