You don’t have to save anything. If pensions are not enough to live (which they won’t be if you don’t save anything yourself) you can get social security for the rest. Obviously you will be poor.
The public retirement system will send you a letter each year telling you how much it will pay out if you keep paying like you are currently. Then just see if that is enough for you and if not, do something privately.
When you have more than enough money, and want to do something privately, just do yourself a favor and go pay an investment advisor (not working off commission). Never just “save something” in your bank account or whatever, always invest in the stock market into index funds. IMO, if you currently can’t afford an investment advisor, then you also shouldn’t save for retirement. Just enjoy the money you have now and live off social security when you’re old.
You don’t have to save anything. If pensions are not enough to live (which they won’t be if you don’t save anything yourself) you can get social security for the rest. Obviously you will be poor.
The public retirement system will send you a letter each year telling you how much it will pay out if you keep paying like you are currently. Then just see if that is enough for you and if not, do something privately.
When you have more than enough money, and want to do something privately, just do yourself a favor and go pay an investment advisor (not working off commission). Never just “save something” in your bank account or whatever, always invest in the stock market into index funds. IMO, if you currently can’t afford an investment advisor, then you also shouldn’t save for retirement. Just enjoy the money you have now and live off social security when you’re old.