The first thing an individual needs to think about while planning for retirement is the type of life desired.
Close to 70% of supersavers have started saving money for retirement in their mid-20s.
Tips to save money for retirement-
Aim to save a minimum of 15% of your income in your retirement savings account (with the help of your employer’s contribution).
Try to maximize retirement contribution from your employer’s end into your retirement savings account and match the same amount of contribution on your end.
Increase your retirement savings contribution as and when your income increases.
Save a small portion of your money for emergencies as well, cover between three to six months' worth of your essential expenses.
Invest a part of your retirement savings into tax-saving instruments
such as Equity-Linked Savings Scheme (ELSS)
or any diversified portfolio to ensure less exposure to risks and maximum returns
North Loop offers international checking accounts
requiring no account minimums. There are no account fees associated, and checking account holders get a global ATM coverage with unlimited ATM fee refunds.
North Loop also offers a wide range of investment instruments ranging from Fixed Deposits
to carefully chosen mutual funds
Mutual funds are packed with features such as round up investing, wealth advisory, etc., bound by an automated set of rules and goals.
Investors can invest in over 3000+ US stocks with North Loop starting from just $1.
Investors can get up to 7% interest on your deposits in North Loop’s very own set of Fixed Deposits. Click here
to sign up with North Loop.