Some young people ask, is it possible not to pay social security and instead save 3000 yuan in the bank every month, using the savings for retirement?

To be honest, social security contributions are mandatory, and paying social security is a joint obligation of employers and workers, which cannot be chosen at will, unless one is a self-employed individual.

Even for self-employed individuals, not paying social security and saving 3000 yuan in the bank each month is not cost-effective for retirement. Let's mainly compare two major aspects:

1. Problems faced by saving money for retirement:

a. How long can you save 3000 yuan in the bank each month? Currently, we may have high salary income and can save 3000 yuan each month. But can this continue in the future? Truly, there are not many people who can consistently save 3000 yuan each month.

b. Saving for three to five years and then withdrawing the money to spend it, ending up with nothing in the end. Throughout life, we face many significant expenses, such as buying a car, a house, children's marriage, and supporting the elderly. With money in the bank, there are often times when it cannot be helped but to use it in advance.

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c. Everyone knows that currency is continuously depreciating. In 10 years, 20 years, 30 years, how much purchasing power will the bank deposits have left? Although there is interest on savings in the bank, bank interest rates have been continuously declining in recent years. It is now very difficult to find deposit products with an interest rate above 2%. Will we follow Japan and the United States in having zero interest rates in the future? In any case, the interest income from deposits has always been the lowest. Saving money in the bank will make the money less and less valuable.

d. Longevity is also a risk, especially when the retirement reserve is a fixed amount. Most people plan based on living to 70 or 80 years old, but what if we are healthy and live to be a hundred? Watching the savings gradually diminish, the psychological pressure will increase.Additionally, as one grows older, savings may no longer be one's own. After turning 80, can we still withdraw money from the bank by ourselves? In reality, these savings become, in a way, the children's. At that time, how to spend and how much to spend is not really up to oneself. After spending it all, one would need to rely on their children for financial support. It is the children's duty to be filial, but as parents, should we be willing to impose too much pressure on them?

Therefore, saving for retirement should be approached with caution!

II. The advantages of relying on pension insurance for old age.

1. The earlier one enrolls, the more money one saves. As long as one has paid into the pension insurance for 15 years, they can have a stable pension. For instance, in Shandong Province this year, the lower limit of the contribution base is 4,416 yuan, and one only needs to pay 883.2 yuan per month, which is far less than 3,000 yuan.

2. Pension insurance follows the principle of "more contributions, more benefits" and "longer contributions, more benefits." The higher the contribution base, the higher the pension benefits. If one has the financial capacity, they can opt for a higher base, which will result in a higher pension. A pension at the 60% tier after 15 years of contributions might only be a little over 1,000 yuan, while at the 100% tier it could reach around 1,700 to 1,800 yuan. As for the 200% to 300% tiers, a pension of three to four thousand yuan is also achievable. Moreover, the longer the contribution period, the higher the pension will be.

3. Pensions are linked to the average social wage, which gives them strong value preservation and appreciation capabilities. The basic pension part is a fixed percentage of the average social wage of the year prior to retirement. The interest rate for the personal account pension is also tied to the average social wage according to a certain pattern.

Pensions will also continue to increase based on the growth of the average social wage and prices. From 2005 to the present, the pensions for retired enterprise employees have seen a "20-year consecutive increase."

4. After the insured person passes away, their family is entitled to funeral expenses and consolation money, providing a certain level of security to the family regardless of how many years of pension they have received.So, when it comes to retirement, social insurance should still be the first choice. If one relies on personal savings for retirement, they would not be able to enjoy the collective protection of society. #Top Headline Creation Challenge# #Savings for Retirement#