Top of main content

5 reasons to start planning for retirement early

After you retire, you finally can do the things you've always wanted to do but didn’t have the time to pursue.

  • It's an easier way to save

Take deposits as an example. Compared to saving aggressively for 10 years, sustained saving over a 30-year period allows you to save less each month and still achieve the same goal as intensively saving for 10 years. Starting the saving journey earlier also means you'll have more disposable funds. If you start saving later, the pressure to hit a certain level of savings within a shorter timeframe also increases.

  • To enjoy the benefits of compound interest

Saving today will bring you more benefits tomorrow. As your interest accumulates, the interest you receive will in turn generate even more interest.

  • For a more relaxed transition into retirement

Create your retirement plan now, and you can do away with worries and look forward to a comfortable life after retirement. A comprehensive retirement wealth management plan will help you better enjoy life after retirement.

  • Realise your dream of early retirement

If you manage your wealth properly, it's definitely possible to retire early to set aside more time to chase the dreams you’ve always had.

  • Saving is easier when you have sufficient funds

Under normal circumstances, you'll have greater disposable income between the ages of 20 and 40. After 40, your responsibility increases significantly, with financial commitments like paying for your child’s education and servicing your home mortgage loan. If you only start saving at that point, it will be more difficult to build up your post-retirement disposable savings.

Contact us

Want to start growing your wealth but not sure where to start? Leave your contact information and we will call you back within 2 working days.

Make an appointment This link will open in a new window

General enquiry on personal financial related service

400-820-3090

Please dial the country code of mainland China +86 if you are calling from overseas, Hong Kong SAR, Macau SAR, or Taiwan

Related products

You might like

grandpa and granddaughter make omelet; the image used for 5 reasons you should start planning for retirement early

Nine significant stats about retirement

 
This link will open in a new window
elder couple are reading newspaper; the image used for 5 reasons you should start planning for retirement early

How to invest in retirement

 
This link will open in a new window

How to plan for life after retirement

 
This link will open in a new window

Disclaimer 

The contents of this article, whether in whole or in part, may not be reproduced or further distributed to any person or entity for any purpose, and must not be distributed to any other jurisdiction where its distribution is unlawful.

The views expressed and the information contained in this article are for general reference only, and are not intended to offer any professional opinion (including but not limited to financial, tax, legal or accounting advice) or investment advice. In addition, the information contained herein has not taken into consideration your investment experience, objective, financial sources and relevant circumstances. You should not regard this article as the bank offering opinions/advice in these areas, or rely on it as the basis of any investment or other decisions. This article does not constitute any advertisement, promotion, recommendation, offer, solicitation of offer or advice for any product or service offered by the bank. The bank is not recommending or soliciting any action based on it.

The bank and HSBC Group make no guarantee, representation or warranty and accepts no responsibility for the accuracy, timeliness or completeness of the views and information contained in this article including any third party information. Third party information is for your reference only, and shall not be deemed as the bank’s recommendation or endorsement of any views, data or other information contained therein. The views expressed in this article are subject to change without notice.

Back to top