This is the first of a new blog,
This time,
How much money do you need in retirement?
How to save money and cover living expenses in retirement

I would like to talk about...

Vague worries about pensions in old age
It is said that it suddenly erupted
"The 20 million yen problem in retirement"is.

Reported by the Financial Services Agency in June 2019
In the report on asset formation for retirement,
As a couple lives until the age of 95 after retirement,
Assets of about 20 million yen
The content was that withdrawal was necessary.

So 20 million yen of surplus assets
Few households own them,
Concerns about bankruptcy in old age are becoming a reality.
National anxiety is growing.

To live a satisfying and comfortable life in retirement,
The need for asset formation is urgent
That's about it.

So, how much money will you need for living expenses in retirement?
How much should I expect?

Also, by the time you reach old age,
Or asset formation after retirement, etc.
Is there a way to raise funds?

 

How much will I need to live on after retirement?

I have retired and my salary and other income has decreased.
The retirement age will be significantly reduced.

Pensions are something we can rely on,
Can you cover your daily living expenses with just your pension?
You may be worried about whether you can do it.

In fact, when it comes to living in retirement as a couple,
The minimum cost of living required is
The average is said to be 221,000 yen per month.

Source: Life Insurance Cultural Center
"Survey on life security"

But this tally is
This is just the bare minimum of daily living expenses.

Next, to live a financially comfortable life after retirement,
How much extra does it cost on top of the minimum cost of living?
Do you feel it is necessary?

Source: Life Insurance Cultural Center
"Survey on life security"

As can be seen from the above table
An additional 140,000 yen is required.
It seems that they feel that way.

In other words, in retirement
To live a relaxed life
221,000 yen + 140,000 yen = 361,000 yen
is considered necessary.

However, as a practical matter
Earning a monthly income of 361,000 yen,
Elderly families living a comfortable life
It can be said that it is small.

In real life, the head of the household
Household finances of unemployed households aged 60 or over
The model case is shown in the table below.

Source: Life Insurance Cultural Center website
"How much does it cost to live in retirement?"

For an income of around 190,000 yen
Consumption expenditure is about 240,000 yen,
In daily life, about 50,000 yen is needed every month.
You can see that there is a shortage.

In other words, far from a comfortable life,
Even the bare necessities of life
This means that it is very difficult to get by on pensions alone.

And from age 60 to the average life expectancy of 85
The shortage of living expenses is
25 years x 12 months x 50,000 yen = 15 million yen
Without 15 million yen in savings, even a basic life is impossible.
This means that it cannot be sent.

 

How much should you save for retirement?

As things stand, even a bare minimum standard of living is
Because there is a monthly shortfall of 50,000 yen,
You need to save at least 15 million yen.

The aging population is increasing
In Japan, which is facing an aging society,
It is unlikely that pensions will increase anytime soon
It can be said that.

I need to save as much as possible.
Struggling to make ends meet in retirement and even going bankrupt
It starts to become more real.

So, in terms of actual age,
Let's look at the savings.

Source: Ministry of Health, Labour and Welfare
"Overview of the 2016 Basic Survey on National Living Conditions"

The total amount is 10.31 million yen.
10.49 million yen for those in their 50s and 13.37 million yen for those in their 60s
This shows the average savings amount.

However, as mentioned above,
Even if you live a minimal life
There is a shortage of 15 million yen.
15 million yen - 13.37 million yen = 1.63 million yen
Even if you use up your savings,
Even the bare minimum of life
You can see that there is a shortage.

If you want to live a more relaxed life,
How much is missing?

The amount of money needed to live a comfortable life
For a couple it is 361,000 yen.

However, the current average income is around 191,000 yen.
The difference between a comfortable life and a
361,000 yen - 191,000 yen = 170,000 yen
It becomes.

This is also the average life expectancy from age 60.
If we calculate over the 25 years until age 85,
25 years x 12 months x 170,000 yen = 51 million yen

The average savings for people in their 60s is 13.37 million yen.
51 million yen - 13.37 million yen = 37.63 million yen
The calculation is valid.

Even if you have 20 million yen in retirement
This means that it is far from being enough.

The current average savings amount is 37.63 million yen
If it's not added on
The conclusion is that it is impossible to live a leisurely life.
It will be connected.

These are very serious numbers, but
To live a relaxed life,
Measures can be taken from your 40s to 50s
You could even say it's necessary...

 

next time,
How to save money for retirement
I would like to write about...

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