Asking for Saving from $450 for your retirement

[Rena]

I earn about 450 usd as my monthly salary from my day job, and am about approaching my early thirties, can I really save an amount from $450 for retirement? Considering the fact that I have other expenses.

Also note that i am entitled to pension on my current job, is there still need for me to save from my salary for retirement?? Am really confused reading some post here about Retirement.

 

[Odunsi]

Whatever the amount you earn, you can always save little from the money. Despite the fact that you are entitled to pension, its also a good idea for you to save.

 

[Alexandoy]

There are companies that offer pension plans as low as $10 a month. you just have to search for those companies and I think they are in the internet. We have no such pension plan offers here although I know that some insurance companies have a similar kind of plan for the retirement. But the risk is high because you have been depositing your premium every month to the company and when the company goes bankrupt then you lose your money. With the government's pension plan it is meager but pretty good when it comes to risks that I think there is practically no risk. I just hope that the government will somehow increase the amount of the pension so that upon retirement there would be no issue of shortage of funds.

 

[Samuel72]

Service is very compulsory and also saves is an inhabit, you need to learn how to save, it doesn't matter how much you always receive as your monthly income but at least learn to keep a little from it for future use, you can be saving $100 or $50 every month. once you get retired you can put up this money together and start up a mini business.

 

[Chibson]

It depends on your country residence. If you live in the United States of America $450 will not be enough for you to save a monthly basis. there are certain countries where $450 is a big money so you can always. In my country people earning about 450 dollars per month to live comfortably and of course it is a cool money.