Why you shouldn’t wait until you’re 50 to start preparing for your retirement


When is the best time to start preparing and organizing for retirement? Xavier Puig, professor of Economics and Business at the Universitat Pompeu Fabra Barcelona School of Management, has it very clear: today. “You don’t start to think about it until you’re 45 or 50 years old. Until then, we see it very far away. But from that age it becomes a concern. Therefore, the ideal is to start as soon as possible ”, explains the expert during an interview in Much to do, CaixaBank’s content program aimed at promoting financial education and increasing the population’s knowledge of basic economic concepts.

It is not easy to get ahead of that date and plan well how to continue having a certain rhythm of quality of life once retired. The first key that Puig points out is saving. “The sooner we start, the better,” he says, but acknowledges that this process has certain complexities: “one thing is saving, which is setting aside money for future needs, and another thing is putting those savings to work. In other words, investing them assuming a certain risk to try to obtain a return ”. The first thing is to set aside each month the percentage of our income that we want to reserve for that purpose. The second thing is to put that saved money to work. But how to do it?

For retirement, specifies the specialist, there are several products that can help us, such as pension plans or investment funds. “Depending on your age and the time you have left until retirement, you can choose products with higher expected returns that will carry more risk or lower expected returns, which will entail lower risk,” he analyzes. His last advice is to find a trusted financial advisor who understands well the phase in which one is in his life cycle (type of work, family, debts …) and shows the best possibilities. “And from there, you will choose. And remember: if you don’t understand, ask ”, emphasizes Puig.

The advice of this specialist in this new installment of Much to do, the CaixaBank program that seeks to promote financial culture in society, are closely related to the interview that chef Ferran Adrià also offered in this space, where he narrates his keys to anticipating the future and continuing to implement projects that last in the future. weather.

CaixaBank Life, a space for financial culture

The different protagonists who will go through the program Much to do They will try to illustrate, with their personal experiences, the importance of basic financial concepts such as retirement, entrepreneurship, savings and investment, family finances, debt or bank security. All of them complemented with the vision and advice of an expert.

CaixaBank has also created the hub CaixaBank Life where the contents developed in matters of financial culture are grouped, including the program of Much to do. Along with the publication of this portal, the entity prepares content exclusively for social networks. Among them stands out Finance for followers, an initiative created in collaboration with de influencers. The podcast also stands out Everyday economy, available on the iVoox, iTunes or Spotify audio platforms, among others.

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