You will be in sufficient age and diet?
Martin Tomanek, Specialist Investment Planning Partners
A major theme of the last few months, providing for retirement and pension reform. About the setting has been written for many, as well as the (un) suitability for different income groups. We all feel that due to the negative demographic trend, many states will not be able to their citizens in their advanced age adequately take care of.In other words, if a person wants to keep the old decent standard of living, must gradually build financial reserves. Tomio Okamura was recently told that the pensioner needs housing, food and water, but this rather ascetic look probably will not be for everyone. The crucial question, therefore, is where the reserve forming.
A good argument for the second pillar: the lowest fees
One option is to join the second pillar. Personally, I welcome any initiative that leads to higher savings of the population. However, it is also necessary to say that "B", and is that still hangs in the air is a risk that the next election will be different. Last week I met a lawyer from a reputable law firm, who told me that almost all of his colleagues are thinking about the second pillar, but with input hesitant. It's no wonder.
As to whether the second pillar of human worth, a lot depends on his income - how much money we give to the second pillar, it is derived from our income, we can save more or less. One thing that a possible advantage of the second pillar increases, unfortunately, do not speak too: it's the fees of pension funds, respectively - their below .. Dynamic strategies that are generally suitable for someone with a long investment horizon, say 20 or 30 years, they have management fees set at 0.6% per year. It is true that the management fee is the only fee that investors' concerns. It is necessary to look at the total costs of the fund, but these are re-publish the audited results of the previous reporting period. Funds are generally incurs additional costs, which usually add to the managerial charge only a few tenths of a percent more.
And now a little comparison. In the U.S., we find a family of funds, which enjoy high trust and which also charge low fees: companies such as American Century Investments, T. Rowe Price or Fidelity. These funds generally have a total cost of up to one percent, or a maximum of slightly over percentage. So it is possible already now say that the Czech pension funds will have costs similar to these U.S. funds. Definitely good news.
Miracles do not happen - nenaleťte the "guaranteed tips"
And what about those who are into the second pillar ultimately decide not to enter, and yet want to save money for retirement? One alternative may be the so-called life-cycle funds. In English, are sometimes referred to as "target-date funds '" or "target retirement date funds'." The names indicate their purpose - providing for old age. The philosophy of these funds (type is a fund of funds) is simple.At the beginning of the program towards the bulk in riskier assets (stocks), but over time there is a reduction of the equity and an increased representation of conservative assets (bonds). While for many small investors can be a good solution, probably not address dynamically oriented investors who represent a higher long-term returns than some five or six percent per year.
Another option is to choose a classic mutual funds. Offer Funds in the Czech Republic is very solid and has gradually come to our market other fund companies.The mutual fund may be to build financial reserves effective tool of his choice but you should pay close attention. This applies in particular charges. This issue I wrote example here .
Of course, is more. If you have more capital, you also need to buy index funds or as a complement pair distribution shares on the exchange. The optimum is to combine different strategies so that you have aged a few financial resources. But be careful - you should invest, not be subject to various "guaranteed" investment tips. The average speculator because sooner or later the money will come.
Finally, a brief comparison of pension funds with mutual funds.The advantage of pension funds are lower fees, on the other hand, the disadvantage of tying funds up to retirement age, the sooner you saved money or the proceeds of them could touch. Against mutual funds you invest in any period will allow partial or complete redemption. It can also be a disadvantage. Disadvantage psychological in nature: when money is available, it can just come on people weaker moment in which it is spent on something that really is not so much needed.
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