SET suggests saving rates for retirees

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SET suggests saving rates for retirees

 

BANGKOK, 15 June 2017 (NNT) - The Stock Exchange of Thailand (SET) has collaborated with an academic institution to analyze saving rates in order to help people have sufficient money for their retirement. 

Research by the SET and the academic institution found that the main source of income of most aging people is their children and grandchildren. However, people today plan to have fewer children, resulting in a decrease in the ability to depend on income from their offspring, late in life. 

According to the research, the monthly expenses of 55-59 years old people range from 5,600-21,000 baht. With an average lifespan of 77 years, today's 20-22 year old people should reserve 2.2-8.9 million baht in savings, 30 year old people 1.7-6.7 million baht in savings and 40 year old people 1.2-4.9 million baht in savings. 

Executive of the Thai Financial Planners Association Wiwan Tharahiranchote said if Thai people voluntarily saved 5-10% of their income, they would probably have more than 20,000 baht to spend each month after retirement. Mrs. Wiwan added that she was concerned over farmers and self-employed people, stressing that they need to save more money and find other returns from investments apart from interest on deposits.

 

-- nnt 2017-06-15

[NCC1701A]

no mention of inflation?

[scorecard]

14 minutes ago, NCC1701A said:

no mention of inflation?

 

"...and find other returns from investments apart from interest on deposits...."

 

and no broad suggestions.

 

My Thai son has been paying a lot of attention to this and is quite frustrated in terms of what other deposit packages are available.

 

He has however started a commercial pension package with a very credible Japanese based insurance / pension company. The company is rated #1 in Japan, and in Japan this subject and the companies offering products are monitored very closely and continuously.

 

But son still interested to find other attractive 'packages'.

 

If anybody wants the name of the Japanese company (they have a very big office on Sathorn Road, plenty of English, very good listeners and clear answers, no push, also have office in CM, again good English available, and maybe other Thai locations) please PM to me.

[Krataiboy]

You couldn't make it up. How can "experts" possibly come up with such fantasy figures when a recent survey showed that more than 80 per cent of thai working family households are "seriously" in debt.

 

 Have they taken ANY account of the fact that within a few decades most of the unskilled or semi-skilled jobs done by the vast majority of Thai workers will have disappeared.  Or has news of the Robotics Revolution somehow passed this unholy alliance of academic eggheads and financial whizkids by?

[Bastos60]

Plenty of farangs to help those young women with supporting their parents. No worries.