5 BEST SOURCES OF RETIREMENT FUNDS IN THE PHILIPPINES

  • SSS Pension Plan

If you’re an employee of a private company, ask your manager or HR about your retirement benefit. Knowing your employer’s policy will help you figure out how much your SSS pension will be, especially if you expect to stay for a long time.

  • Personal Equity Retirement Account (PERA)

A pension plan may give you a decent amount of cash, but it won’t be enough to cover all your future expenses, no matter how big it may be. Opening a personal equity retirement account, rather than leaving your money in a conventional savings account, is a fantastic method to increase it (PERA).

A PERA account is particularly advantageous because it provides you with several tax benefits. You can withdraw your savings tax-free once you reach the age of 55, boosting your retirement fund even further.

  • VUL Insurance

Insurance coverage are becoming more comprehensive thanks to advancements in the insurance industry. Most plans now include investment benefits in addition to death, illness, and disability coverage. Investing will provide you with a passive source of income as well as a stronger sense of financial stability. With this in mind, purchasing a VUL (variable unit linked) insurance plan is one of the best investments you can make. This financial instrument invests the premium you pay in various channels (such as stocks and bonds) while providing extensive benefits until death.

  • Real Estate Investment

Real estate is a very profitable investment, whether it’s a little structure in the city or a rest house in the province.

If you don’t intend to use your property yourself, renting it out will provide you with a steady stream of money during your retirement years. Furthermore, real estate properties will only increase in value over time.

  • Investment funds

These financial vehicles have the potential to generate larger profits over time than typical bank accounts. However, there’s no disputing that investment funds and other financial instruments can be tough to grasp for newcomers.

Taking the time to research or hire the skills of an expert will ensure that your business runs properly. A smart approach will assist you in minimizing risks while boosting earnings.

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