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6 simple tips & tricks for a higher pension

Published by Mattias Söderström in category Articles on 27.03.2024
Gold price (XAU-SEK)
25965,00 SEK/oz
  
- 170,00 SEK
Silver price (XAG-SEK)
320,50 SEK/oz
  
- 10,12 SEK
Äldre man som fått tips för en högre pension

Are you ready for retirement? Tavex shares six savvy tips to help you maximize your pension!

Planning for your pension can seem daunting, but with the right strategies, a more secure financial future can be crafted.

When do you retire?

Contemplating the right time to step back from the workforce occupies the thoughts of many. While the opportunity to start drawing the general pension kicks in at 62 years of age, financially speaking, it’s not a viable option for everyone.

The realistic ability to retire at a certain point hinges on various factors, such as the state of your occupational pension and the success of your private pension savings.

Thus, it’s not merely about reaching a particular age but rather laying a firm financial foundation for those years when you wish to fully enjoy life on your terms. Minpension.se offers a platform to view your pension and make pension forecasts.

Can you withdraw your pension early?

There’s the option to withdraw your pension early, yet it demands careful planning. Opting for early pension withdrawal typically means a thinner monthly pension since the funds need to stretch further.

The question then is: is it worth having more free time early on, at the risk of financial tightness later? It’s a classic balance question between now and later.

6 tips to boost your pension

1. Gain an overview of your pension situation

Getting a clear picture of your pension situation early on is fundamental. It enables you to actively influence your pension by making additional contributions or adjusting your savings.

2. Maximize your occupational pension

For many, the occupational pension forms a significant part of the total pension. Ensure you’re fully utilizing your employer’s pension plan. If possible, opt for additional contributions to increase the pension’s value.

3. Supplement with private savings

Besides the occupational pension, it’s wise to establish private pension savings. Starting to save early and consistently can, thanks to the compound interest effect, yield good growth over time.

4. Utilize salary exchange

Salary exchange is akin to making a smart deal with your future finances. You allocate a portion of your current salary to your pension fund before taxes hit. This can secure tax advantages and more pension money, working best if your salary is at a decent level.

5. Minimize fees and increase returns

Keep an eye on those pesky fees for your pension savings. Are there ways to reduce fees? If so, make the switch! Actively seeking out funds that offer good returns is also a smart move for growing your pension pot.

6. Consider including gold in your pension portfolio

Adding some gold to your pension portfolio isn’t just about adding sparkle. It’s a wise strategy for hedging against inflation and currency fluctuations. Gold’s ability to retain its value over a long time can offer peace of mind during volatile market periods.

Try this excellent gold offer today!

It’s never too late to save for retirement

Starting to think about your pension now can make a big difference to your financial security in the future. By following these steps and regularly reviewing your pension savings, you can work towards a more secure and rewarding retirement. And remember, it’s never too early or too late to start planning for your pension!

Feel free to comment below if you’ve started your pension saving or if you have more smart tips for growing your pension!

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Gold price (XAU-SEK)
25965,00 SEK/oz
  
- 170,00 SEK
Silver price (XAG-SEK)
320,50 SEK/oz
  
- 10,12 SEK

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