How to stay on track with your retirement saving goals
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Helping you assess where you stand and plan confidently for the years ahead.
In an increasingly uncertain world, retirement planning is often delayed as more immediate financial concerns take priority. However, preparing early and having a structured approach to retirement savings can help provide greater clarity and confidence over the long term.
Now that you have the insurance plan and financial protection in place to secure a comfortable and worry-free retirement, the next step is to ensure you stay on track to achieving that goal. Wherever you are in your retirement plan, now’s the time to start honing in. Here are some tips to help you stay committed and consistent with your retirement goals.
Ways to keep your retirement savings on track
Now that you have the insurance plan and financial protection in place to secure a comfortable and worry-free retirement, the next step is to ensure you stay on track to achieve that goal. Wherever you are in your retirement plan, now’s the time to start honing in. Here are some tips to help you stay committed and consistent with your retirement goals:
Visualize your life as a retiree
Picture your life as a retiree. Whether or not you envision yourself relocating to the beach or in a cozy cabin near the mountains, there are still bills to pay and expenses to budget for.
The necessities: food, clothing, and transportation. Add to that your housing, utilities, and maintenance expenses. Next, take into consideration healthcare and medicine costs. And then you have the retirement travel and leisure plans you’ve been looking forward to all your working years.
Keep these in mind as you save up and allocate to your retirement fund monthly or annually. You can also seek advice from your Financial Advisor on topping up your VUL plans for higher returns in the future.
Automate your retirement savings and premium payments
Instead of sending everything to your savings account, look to automatically send part of your paycheck to a retirement account. This way you can consistently contribute a portion of your savings for your retirement and minimize the temptation of spending your extra cash on “wants” rather than your “needs”.
The same goes for your premium payments. Enrolling in autopay facilities will ensure your insurance premiums are up to date, you get to enjoy the protection benefits of your policy, and you stay committed to preparing for your retirement fund.
Create an emergency fund
Having at least six months- to a year’s worth of expenditures for your emergency fund means you won’t need to dip into your retirement fund in case of sickness, unemployment, or other unexpected financial hurdles.
Clear your debt
Be sure to pay off your debts regularly so that by the time you reach your retirement, you won’t need to worry about them or allocate a certain amount of your savings to pay them off.
Remember, life insurance and retirement plans add great value to your retirement savings. But they will only come to fruition in time if you commit to them. It’s easy to be lax with your retirement fund because it seems so far into the future.
That’s why, as early as now, it’s better to develop a laser focus and sense of urgency on your retirement goals. Doing so will help you incorporate your retirement plans into your overall life strategy.
The importance of starting early with retirement planning
Starting early with retirement planning gives your savings more time to grow and adapt to changing life circumstances. When contributions begin sooner, even small and consistent amounts have a longer period to build momentum, making it easier to stay aligned with long-term retirement savings goals.
Beginning early also provides greater flexibility. It allows you to adjust your retirement planning goals as your income, responsibilities, and priorities change over time, rather than having to make larger contributions later on. In an uncertain financial environment, starting early can help reduce pressure and support a more balanced, sustainable approach to preparing for retirement.
Retirement savings goals by age in the Philippines
Starting early with retirement planning gives your savings more time to grow and adapt to changing life circumstances. When contributions begin sooner, even small and consistent amounts have a longer period to build momentum, making it easier to stay aligned with long-term retirement savings goals.
Beginning early also provides greater flexibility. It allows you to adjust your retirement planning goals as your income, responsibilities, and priorities change over time, rather than having to make larger contributions later on. In an uncertain financial environment, starting early can help reduce pressure and support a more balanced, sustainable approach to preparing for retirement.
Retirement savings goals can look different for everyone and are often influenced by income, lifestyle expectations, family responsibilities, and local economic conditions such as inflation. The examples below are general reference points that may help Filipinos think about how retirement planning goals can evolve over time.
In your 20s
This stage is often about building habits. Setting aside a portion of income early, even a modest amount, may help establish consistency and allow more time for savings to grow. Some people aim to begin with around 10% of their income, depending on affordability and priorities.
In your 30s
As income and responsibilities typically increase, this period may offer more opportunities to review and adjust retirement savings goals. Some individuals look at gradually increasing contributions, sometimes in the range of 15–20% of income, while also exploring structured retirement funds or insurance plans with savings or investment features.
In your 40s
Retirement planning often becomes more focused during this stage. With fewer years until retirement, many people reassess their progress and consider whether their current savings pace aligns with their goals. Contributions are often reviewed and, where possible, increased to around 20–25% of income, alongside a closer review of existing plans.
In your 50s and beyond
This stage is commonly about refining and preparing. Some individuals choose to prioritize retirement savings more heavily, review investment strategies, and consider how their savings may support their desired lifestyle in retirement. Regular reviews can help ensure plans remain aligned with changing needs and timelines.
These age-based examples are meant to provide perspective rather than fixed targets. Retirement savings goals are most effective when reviewed regularly and adjusted based on personal circumstances and long-term plans.
Conclusion: Stay committed to your retirement goals with Manulife
Staying focused on your retirement goals requires consistency, regular review, and a willingness to adjust plans as life changes. Clear retirement planning goals can help provide direction and make it easier to stay prepared for the future you envision.
With professional guidance, retirement planning can feel more manageable. Manulife’s team can help you review your goals, understand available options, and make informed decisions that align with your long-term plans. Having support along the way can strengthen your approach and help you stay committed to building a more secure and comfortable future.
Frequently asked questions
Being behind on retirement savings is more common than many people think. Reviewing your current situation, understanding your priorities, and making gradual adjustments can help you move forward. Even small, consistent changes may help improve alignment with your retirement savings goals over time.
Many people find it helpful to review their retirement plan regularly, such as once a year or after major life changes. Periodic reviews can help ensure your retirement planning goals remain aligned with your current circumstances.
Staying disciplined often involves setting clear goals, building saving habits, and checking progress from time to time. Making retirement planning part of your routine can help maintain consistency without feeling overwhelming.
Retirement goals are usually considered realistic when they reflect your income, lifestyle expectations, and timeline. Reviewing your goals periodically and comparing them with your current savings can help you understand whether adjustments may be needed.
Yes, retirement goals often evolve as life circumstances change. Events such as career shifts, family responsibilities, or changes in income may prompt a review to ensure your plans remain relevant and achievable.
Staying motivated can be easier when goals are broken into smaller milestones. Tracking progress, celebrating small wins, and reminding yourself of the future lifestyle you are working toward can help maintain long-term focus.
Want to learn more about how to plan for a better, longer life?
Talk to a financial advisor today!