Retirement saving is an important thing while you earn money as salary or profit from business etc. You can invest a certain percentage of your income every month in any good investment scheme for your retirement need. Your salary will increase every time or your business will grow and you get more money as profit. When you get more money you should invest more for your retirement plan also. You can set apart your saving as any of the following two methods.
1. Stick around the percentage of regular saving.
You can invest a certain percentage every time you get money. If you do so when your salary or income increase the amount of saving also will increase. For example, if you have a salary of Rs. 30000 and you saving Rs. 4500 (15%) for your retirement plan. When your salary increases to Rs. 34000 the amount of saving also will increase to Rs. 5100 (15%) while the percentage of saving remains the same.
2. Increase the amount of saving.
This is another method you can increase your retirement saving while you get more income. Make an extra saving of the half of the increased amount every month. In the abovementioned example you were saving Rs. 4500 every month and when your salary increased by Rs. 4000 makes an extra investment of 50% of the increased amount. Here Rs. 2000 and then the total investment will Rs. 6500 instead of Rs. 5100 in the above mentioned example.
No doubt when you get more income the cost of living also may increase due to inflation or high standard of living. But you should invest the amount as per your decision for your happy retirement life. Sometimes you may not save 15% of your income, but it is only an example and you may keep 10% or 20% or a convenient percentage, but do regular saving and increase the amount when your income increase.
For salaried people, the Provident Fund which is considering as a retirement saving automatically increase when the salary increase. For others those who are not getting salary income should keep investing for their retirement. If so they can enjoy a happy retirement life with enough income at the time of their retirement life.