After setting your desired age to retire and projected monthly living expenses, you can work out your required monthly savings through a financial planning review meeting.
This is the number of years you have to plan for retirement. Put your savings priorities in order and beware of how major life events affect your saving for retirement.
This is the protection amount for your family, for example:
Waiting too long to start your retirement savings plan can have a huge impact on saving effort. A delay of just a few years may increase your monthly savings by thousands of dollars as the following table shows.
Monthly savings required at your current age to accumulate every HKD 1 million (Assuming 5% p.a. return)
(1) The “Required Monthly Savings” amount rounded up to the nearest ten.
(2) All numbers shown are hypothetical and for illustration only and is not an indication of the actual performance of any insurance plans or investment products. The insurance solutions referred in this document are subject to risks, fees and charges and may have a minimum payment period. Please arrange a financial planning review meeting for professional advice.
1Source: 2016 HSBC Retirement Monitor
2Source: Your Health Your Life Health Care Reform Consultation Document (March 2008)
Want to review your finances and assess if you are on track with your priorities in life? Complete a Financial Health Check online to understand your financial strengths and identify areas that may need further attention.
Want to understand your investment needs and risk appetite? Simply logon to HSBC Personal Internet Banking and it will take you just a few minutes to complete the Risk Profiling Questionnaire.
You can leverage on our easy-to-use online Financial Health Check (FHC) tool to review your finances and assess if you are on track with your priorities in life.
It highlights your financial strengths and identifies areas that may need further attention, in view of your needs across the following five areas:
The information as shown on this page is not for sales purpose and it is hypothetical and for illustration only. It is not intended to constitute a recommendation or advice to any prospective customers and is not intended as a substitute for professional advice. You should not act on any information on this page without seeking specific professional advice.
Products and services referred to in this website are offered only in jurisdictions where and when they may be lawfully offered by The Hongkong and Shanghai Banking Corporation Limited. The material on these pages are not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to local law or regulation.
Note: Investment involves risks. Past performance is no guide to future performance. Investors must refer to the respective fund's offering documents for further details of the fund and the risks involved.
Your benefit is subject to the credit risk of the Company. Your premiums paid will form part of the Company's assets. You do not have any rights or ownership over any of those assets. Your recourse is against the Company only. This product is a product of the Company but not HSBC and it is intended only for sale in the Hong Kong SAR.
HSBC Life (International) Limited is incorporated in Bermuda with limited liability, and is one of the HSBC Group's insurance underwriting subsidiaries.