Retirees often pay more attention to convenience when managing money. For example, some people will deposit all their funds for a fixed period of time, or even deposit a large sum of money as a sum of money, or invest heavily in high-risk investment products such as stocks and funds. These practices are not desirable. Retirees often fall into the above misunderstanding when managing their finances. From a professional point of view, it is suggested that retirees should appropriately diversify their assets when managing their finances to avoid being too concentrated and too dispersed. Among them, retirees with higher pensions can pay attention to the preservation and appreciation of assets when managing money; For people with low retirement pension, financial planning should start with ensuring the existing living standard and increasing revenue and reducing expenditure.
The second method of financial management for retirees: reasonable proportion of regular financial management
Retirees have low risk tolerance and are not suitable for making complex investments. Retirees should, according to the actual situation, reserve enough funds in the current account to meet the daily expenses for 3-6 months, and then deposit the remaining assets in fixed-term and purchase wealth management products respectively. As for the ratio of the two, it is suggested that people who have just retired should save 30%-40% of their funds for a fixed period, and the rest should buy wealth management products. With the growth of age, we should gradually increase the proportion of time deposits and reduce the amount of funds invested in wealth management products.
After retirement, the sources of funds are relatively limited. Once you need money urgently, you have to withdraw your time deposit in advance. Therefore, in order to avoid the interest loss caused by early withdrawal, it is suggested to open the smart time deposit function. After opening this function, you can minimize the interest loss according to the time of early withdrawal. For example, if a one-year time deposit is withdrawn in advance when its term is exactly three months, the bank can calculate its income according to the interest rate of the three-month time deposit instead of the interest rate of the current deposit, thus reducing the loss.
In addition, national debt is also one of the financial management methods suitable for retirees, but financial investments such as funds and foreign exchange are not suitable for retired investors, especially retirees without sufficient investment experience, so high-risk financial investments should be avoided.
The third method of financial management for retirees: automatic pension transfer management.
In addition to the savings accumulated before, some retirees can get generous pensions every month, and many people will queue up at bank outlets to get their salaries as long as they pay. In fact, retirees can go to outlets to open the automatic roll-over function and set the roll-over limit, which can realize the automatic roll-over of wages. For example, if the deposit limit is set to 2000 yuan and the term of fixed deposit is set to three months, then after the salary is paid, the part above 2000 yuan will be automatically converted into a three-month fixed deposit, which not only avoids the trouble of queuing, but also gains more benefits.