Based on OJK’s latest regulation, pension funds will be prohibited from being cashed out temporarily before the worker has joined for 10 years. This rule will take effect from October 2024. So far, according to the government, pension funds have always been disbursed early and made the Employer Pension Fund (DPPK) industry less developed.
In addition, the government is also currently planning rules on mandatory supplementary pension funds. This policy is made especially for private employees so that it must be paid outside of Old Age Security (JHT) and BPJS Employment contributions.
Ogi Prastomiyono, as the Chief Executive of Insurance, Guarantee, and Pension Funds of the Financial Services Authority (PPDP OJK) stated that workers who have an income exceeding a certain value will be required to pay additional pension contributions voluntarily but compulsorily.
To deal with all the changes in the rules related to pension funds, it is better for you to prepare pension funds independently to ensure the welfare of life in old age. One of the most effective steps you can take is to invest in gold from now on.
Gold investment can help you achieve a safe and stable retirement fund. Check out the complete discussion of seven ways to invest in gold for retirement below so you don’t have to wait 10 years to get optimal results.
- Calculating Retirement Fund Target at least 10 Years Before Retirement Time
Calculating the Minimum Retirement Fund Target 10 Years Before Retirement TimeOne of the first steps in planning for retirement is to calculate the minimum retirement fund target 10 years before retirement time arrives. Having a clear target fund will make it easier for you to plan the right investment steps.
Calculating how much money is needed for retirement allows you to determine how much gold to invest each month. For example, if you plan to retire in 10 years, calculate your monthly expenses when you retire.
Then multiply it by the number of months during your estimated retirement. From there, you can calculate how much target pension funds must be collected in the next 10 years through gold investment.
- Make Financial Budget Planning Early
Making Financial Budget Planning Early
Making financial budget planning early on is one of the main keys to preparing sufficient retirement funds in the next 10 years.
You can start planning your finances early to have more time to invest and benefit from rising gold prices in the long run.
Organize income and expenses every month by recording basic needs, installments, and additional expenses. You also need to adopt a frugal lifestyle to avoid unnecessary expenses.
- Allocate Retirement Funds Since 10 Years Before Retirement
Allocate Retirement Funds Since 10 Years Before Retirement
Gold investment will be more effective if you allocate retirement funds since 10 years before retirement. The longer the investment period, the greater the potential profit from rising gold prices.
Gold prices tend to appreciate in value in the long run, so it can be a stable source of income when you retire. Therefore, you need to allocate a portion of your income to buy gold every month.
With a disciplined attitude to allocate special funds for gold investment on a regular basis, your gold investment will grow significantly in the next 10 years and support the retirement fund goals you want to achieve.
The funds that you save in the form of gold can also serve as a hedge against inflation and market volatility. So that even though the price of our asset value decreases every year, the value of gold will instead continue to increase over time.
- Choosing the Right and Safe Investment Instrument for Retirement Funds
Choosing a safe and appropriate investment instrument is very important in preparing for retirement. Gold is one of the safest investment instruments because its value tends to stabilize and increase in the long run.
In addition, gold is also easy to withdraw, making it suitable for retirement funds that can be used within the next 10 years. You can choose between physical gold such as coins and bars, or digital gold which is easier to access and store.
Treasury is the first digital physical gold trader licensed by BAPPEBTI and registered with KOMINFO, so the legality and safety of investing in gold at Treasury is guaranteed. Make sure you choose an instrument that is safe and suits your needs.
- Consistent Gold Investment from an Early Age
The key to successful gold investment for retirement is consistency. Start investing early, even if you don’t have much capital. Consistency in investing is one of the best ways to ensure that your retirement fund will grow significantly in the next 10 years.
In 10 years, a consistent attitude in investing can provide extraordinary results, especially if the price of gold continues to rise. By regularly buying gold, you can accumulate more gold over time, so that your retirement fund will also get closer to the desired target.
- Paying Attention to Gold Price Fluctuations for Retirement Funds for 10 Years
One of the other important tips in investing in gold for retirement funds is to pay attention to gold price fluctuations, especially for the past 10 years and the future.
Gold prices tend to fluctuate over time because they are influenced by various factors such as global economic conditions, inflation, and monetary policy. Therefore, it is important to always monitor the price of gold regularly.
You can choose to buy gold when the price drops and sell it when the gold price rises in the next 10 years. You can maximize profits and ensure that your gold investment for retirement can grow by paying attention to the best gold price moments.
- Setting the Right Time to Sell Gold Investment
Finally, one of the best ways to maximize your gold investment is by timing when to sell it. Do not rush to sell gold when the price is low.
You should wait until the price of gold is at its maximum point or at least when the selling price is above the purchase price. That way, you can benefit from gold investment for retirement within 10 years.
Your retirement fund will be more secure if you understand when is the right time to cash out gold. Monitor the price of gold regularly and sell when the price is high, so that your retirement fund target can be achieved in 10 years.
Gold investment is one of the best ways to prepare a safe and stable retirement fund. Remember that gold investment is a long-term investment, so it takes time and patience for your retirement fund to grow well.
