Skip to main content Skip to notification content
Back

I’m Still Young, Why Do I Need a Retirement Plan?

Will setting aside for your retirement years assure you of a comfortable life down the road?

Living life fully and meaningfully is what we all aspire to do when we are young. As the popular adage goes, you only live once! #YOLO

Traveling to your dream destinations, pursuing your passions, and spending more time with family and friends - these are all experiences that we should prioritize in the present. As many have encouraged, do these more often while you are still young and have all the energy. 

However, life is a delicate balance, and it's crucial not to neglect equally important matters, such as health, finances, and planning for the future. Regularly reviewing your life plans and financial goals helps strike a balance between spending on desires and experiences and making stable investments with secure insurance protection to avoid becoming a burden to your family once you reach your golden years.

Your life later depends on the plans you build today. 

Retirement may feel like from a far-off future, but it’s nearer than you think!

It’s easy to be carefree in your youth - at the prime of your life - but becoming wiser involves great planning and preparation. Here are more reasons why starting to plan and save for a retirement fund now is crucial:

  1. Inflation Protection: With the continuous rise in the cost of commodities and services, building a retirement fund early is beneficial. Multiple sources of income, such as a retirement plan, can help you live a comfortable and financially independent life, reducing your dependence on your future children, government pensions, or inheritance during retirement.
  2. Financial Flexibility and Independence: Retirement planning goes beyond basic needs. It provides financial flexibility and independence, enabling you to pursue passions, travel around the world, or explore new opportunities without financial constraints. A good retirement fund ideally grants you the freedom to make choices based on personal fulfillment rather than financial necessity.
  3. Supplementing Social Security Benefits: While government social insurance programs are beneficial, they may not be sufficient to sustain your desired standard of living in the future. Investing in a retirement plan ensures additional resources are in place to supplement your social security benefits.
  4. Financial Safety Net: Unexpected events in life such as medical emergencies or job loss can impact financial stability. A solid retirement plan acts as a financial safety net, providing funds during challenging times and reducing stress associated with unforeseen circumstances. In addition, it can also extend protection to your loved ones.

Regardless of age and status, there's no better time than NOW to invest in yourself so you can have the future you’ve always wanted. Let us help you build your future with Manulife Retirement Plans. Talk to us if you wish to learn more.

If you liked this article, you may find these interesting

Want to learn more about our Retirement Plans?

Talk to a Financial Sales Associate today

Want to learn more about our Retirement Plans?

  • I agree to the Manulife China Bank Customer Privacy Policy and Website Terms of Use.

  • This is a required field
  • Thank you

     

     

     

    We received your information!

    We will be contacting you via your mobile to talk to you.

     

     

    Oops! There seems to be a problem.

    Please review the form and make sure you filled out all the necessary details.

    Need more help?

    • Filipinos Are Not Retirement-Ready, Reports Say

      According to recent reports, only 29% of Filipino adults have a savings account. The Philippines, in fact, has one of the lowest savings rates in Southeast Asia. Another survey showed that 46% of Filipinos rely on cash savings or deposits for retirement, but how far can your money take you?

      Read more
    • Turning Retirement Dreams into Financial Reality: Timeless Strategies that can Help Your Savings Grow

      The freedom to enjoy life on your own terms, with plenty of time (and money) to travel, focus on your hobbies or do whatever your heart desires may come to mind first when you think of retirement. But funding this milestone in one’s stage of life takes planning, discipline, and perseverance – and the sooner you start, the better.

      Read more
    • MCBL's New Assure Max Plan: Setting You Up for the Future and Retirement

      Lack of planning can lead to frustration and disappointment when our dreams do not materialize. Attain your goals with these helpful steps.

      Read more
    See All