Four tips to prepare yourself for your retirement
Ways to prepare for your retirement
You may not want to think about it now, but you will retire someday. In most cases, you build up a pension through your employer. However, this isn’t always the case, so make sure to check this with your employer. If you want to continue to live the same lifestyle after you retire, it’s sensible to take some steps of your own as well. The belt will be zipped pretty tight with your pension benefit and state pension benefit alone.
That is why today, we are giving you four tips to build your own capital for your retirement.
You can start saving for your retirement today. If you put away a fixed amount every month, this will accumulate over time, and you will have a lovely little extra waiting for you once you turn 67. Safe and simple.
Do realize that in the end, saving will cost you money. This is due to inflation and the fact that the savings interest rates are currently at 0%. In 2019, inflation was 2.6%, which means your money lost 2.6% of its value. So if you have forty more years to go, your money will only be worth less and less over time.
2. Annuity policy
Another way to build capital for your retirement is to take out annuity insurance. You pay your insurer a premium every month, and they indicate the expected return. By the time you retire, they will pay you a monthly sum of your savings. The same way as things go with other pension benefits. Safe and simple, but not that flexible.
Do take additional costs into account when taking on this policy. These can run up significantly.
3. Managed investment
Several banks offer a special pension product in combination with managed investment. In most cases, you deposit the same amount every month, and the bank invests it for you. You can usually control the risk profile, but not the specific stocks, bonds and ETFs. You also won’t be able to withdraw your funds freely: you can only access this money after you retire.
4. Trading for yourself
You can also take full control of your future pension and start trading for yourself. You determine how much you invest, what risk you take, which markets you trade in and when you want to withdraw your money. When you invest for yourself, you are in complete control.
Let’s say you start trading for your retirement with the BOTS app. You can start with as little as €50. Getting started is easy. In the app, you check which bots are successful, what risk you are willing to take — and off you go. You determine how much you invest and when.
Bots are automatic trading strategies that trade for you based on algorithms, artificial intelligence and machine learning. Because they are bots, they never sleep and aren’t bothered by emotions like fear when the stock market fluctuates. Handy, right?
These automated trading strategies were only available to the wealthiest 3% of the global population back in the day. But now they are available to you — with the BOTS app: a smart way to be in total control of your pension plan and work your way towards retirement with peace of mind. And who knows, you might even manage to retire before you turn 67!
BOTS is a tech company that has developed an app that makes it possible for anyone to start investing. You only need €50 to get started. BOTS uses automated trading strategies based on algorithms. We call these algorithms bots. These bots are tiny superheroes: they make automated investing accessible to everyone. With their help, you can invest in cryptocurrency within minutes — without any knowledge! And we’ll do you one better… In 2021, you’ll also be able to invest in stocks and other currencies through the BOTS app.
The app is free to download and quick and easy to install. BOTS currently operates in more than 15 countries, and by the end of the year, BOTS wants to be active in at least 60 countries and four continents.
Need any help with anything?
Even though automated investing is incredibly easy, you might need some time to find your way around the app and discover all the options. So if you still have questions wandering around your mind, or you just can’t seem to figure it out, please do not hesitate to contact the BOTS support department.
Don’t feel like calling our support team? Just head to the BOTS YouTube channel and browse through the dozens of instructional videos that may help you further. You are also royally invited to the BOTS Discord channel.
Ready to get started?
There is no such thing as risk-free trading. It is possible to lose (part of) your stake.