Saving money is a crucial part of financial planning. Whether you’re saving for a rainy day, a down payment on a home, or retirement, it’s essential to build a solid savings plan. Unfortunately, many people struggle to save money. To help students understand more about financial planning and retirement savings, the SEGi School of Nursing organised an event featuring a representative from the EPF department.
During the event, the representative from EPF department highlighted the importance of setting a savings goal as the first step in saving money. The savings goal should be specific, measurable, achievable, and relevant to help individuals stay motivated and focused on their financial goals
EPF officers advised the students to start saving for their retirement plan by opening an account and setting aside a portion of their income. This initial savings could compound over time, resulting in significant savings at retirement age.
According to a survey conducted by Bankrate in 2020, only 28% of Americans have emergency savings to cover three months’ expenses. This highlights the need for financial planning and savings.
SEGi School of Nursing’s event provided students with the tools and information needed to develop a solid financial plan, including retirement savings. With the support of the EPF department, students can start saving for their future and work towards achieving their financial goals.
If you are interested in financial planning and retirement savings, contact the SEGi School of Nursing to learn more about upcoming events and resources.