Have you ever stopped to think about what age you plan to work? Although it may seem like a distant future, the reality is that time moves quickly, and before you know it, you could be entering the elderly stage. Consider that if you are currently 30 years old, in just two decades, you will be 50. Early financial planning can make the difference between a comfortable retirement and one filled with concerns.

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Plan your retirement! Create a solid financial plan and explore smart saving options, considering global economic changes such as inflation and market fluctuations. The loss of purchasing power due to inflation is a well-known phenomenon. If you have €5,000 today, with the current inflation rate in the Eurozone at 2.4%, in 10 years, this amount will be worth €3,944.31. Therefore, you would have experienced financial losses over the years, affecting the capital you have allocated for your retirement.

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The solution to this phenomenon is smart saving, and by this, we mean high-yield accounts. Rand offers the Earn account, a savings account that allows you to earn a 6.00% annual APY on your savings, an effective tool to boost your savings in the long term. Continuing with the previous example, if you currently have €5,000 and decide to save it in Rand, earning a 6.00% APY and considering the current inflation rate in the Eurozone of 2.4%, in a period of 10 years, you will have €7,063.46. Consequently, despite inflation, you will continue to generate a more favorable return compared to the option of not saving.

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Plan Your Retirement by Saving €300,000 

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Understanding the previous example, how can you strategically plan your retirement and accumulate €300,000 for your retirement? If you make an initial deposit of €6,000 in Rand's Earn account with a 6.00% APY and contribute €620 monthly for a period of 20 years, you will reach the sum of €300,374.00 when you are 50, an ideal age for retirement.

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4 Tips for Planning Your Retirement

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Set Spending Goals: Determine how much you will need in retirement by assessing your projected expenses, desired lifestyle, and any outstanding debt. Adjust these figures taking inflation into account for more accurate estimates.

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Diversify Your Assets: Diversification is essential to mitigate risks, and at Rand, we know it. That's why we offer hybrid yields in euros and our utility token RND. Analyze each asset and plan diversification according to your goals and tolerance for market fluctuations.

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Regularly Adjust Retirement Strategies: Economic conditions and interest rates can change. Review and adjust your savings strategy periodically to ensure it remains effective and aligned with your goals.

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Professional Advice: Seek the guidance of professional financial advisors. Their specialized knowledge can offer an objective view and help you make informed decisions to maximize your financial security in retirement.

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Plan your retirement and tackle inflation by keeping your savings in Rand.

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The 6.00% is composed of a 4.00% APY in euros + 2.00% APY in RND.