Hankyung Mook's Complete Conquest of Retirement Pensions
 |
Description
Book Introduction
Real-life skills from true experts revealed
Complete conquest of retirement pension
Retirement pension, now it's time for practice!
*** The latest revised edition of the retirement pension bestseller, "Becoming a Retirement Pension Expert"
*** A complete guide to pension tech strategies from financial industry experts!
*** From sign-up to operation and receipt! Follow our step-by-step solutions to see how your receipts will change!
*** Provides a comparison list of top-yielding products and simulations to help with virtual operations!
Retirement pension in one book!
There was definitely a moment when my heart was pounding as I saw the number in my paycheck every month.
It was a time when lamenting, "It's hard to work for someone else's money," was often said as a drinking snack.
That was the life of a salaried worker.
I've become accustomed to the reality that when payday comes, I say, "I'm going to work for this reason," but then quickly become empty-handed. I've accepted it as my fate.
However, with the rising cost of living, my paycheck is no longer a sweet reward for my hard work.
It is just a storage facility that falls far short of expectations and a stop that passes by for a moment.
Unless you have an investment strategy that rivals Warren Buffett's, or you're the star of a dramatic salary negotiation, it's time to start looking into your retirement savings right now.
Before I knew it, my retirement pension was piling up, and how I manage it now will make a huge difference in my retirement.
Last year's best-selling retirement pension book, "Becoming a Retirement Pension Expert," has been completely revamped into "Completely Conquering Retirement Pension."
If the previous edition was an introductory book for so-called 'retirement-bad' office workers, this revised edition is a practical version.
The writing staff has also been strengthened.
Min Joo-young, a director at Shinyoung Securities who co-authored the previous book, was the first to join the team, along with Choi Eun-mi, head of the Pension Product Support Department at Hana Bank, and Kim Min-kyung, deputy head of the Retirement Pension Consulting Department at NH Investment & Securities.
These are experts in the field with extensive experience in asset management and retirement pension-related work, and their experience has become their calling card.
So, the core of this revised edition is ‘practical retirement pension management skills taught directly by experts.’
As the subtitle suggests, we have carefully selected secrets that will help you 'not worry about old age if you just follow them.'
In 'Retirement Pension Talk,' which contains conversations between the authors, you can get a glimpse into the importance of retirement pensions, management know-how, and even the composition of their portfolios.
This practical guide, which contains practical tips for enrolling in, managing, and receiving your retirement pension, explores asset allocation strategies that can increase returns and retirement pension receipt strategies that focus on tax savings.
Finally, we have also upgraded the Q&A surrounding retirement pensions.
This book contains a variety of information that MZ generation members who have a short history of retirement pensions or retirees over 55 years old who are about to start receiving their pensions may be curious about, such as, "What if my retirement pension is not enough to cover living expenses?", "Which is more beneficial, receiving a lump sum or receiving a pension?", and "Can I sign up for a TDF product that is different from my retirement date?"
The 1960s generation, the backbone of the baby boomer generation, has entered the aging population.
Those born in 1961 began receiving national pension this year.
We have now moved from an era of accumulating pensions to an era of receiving pensions.
As the population ages and more people receive pensions than pay them, the reality is that the National Pension alone is not enough to prepare for retirement.
This is why retirement pensions that supplement this are becoming increasingly important.
Let's look back and see if the retirement pension that will take care of my old age is being neglected.
You can protect your precious retirement pension by taking care of it as soon as possible.
Let's keep this in mind.
The moment I ignore it, thinking it hasn't happened to me yet, and the moment I gradually collect my retirement benefits with each job change and retirement, my old age will soon be filled with 'empty pockets'.
No one cares about my returns.
According to the advice of experts in the field, the more you pay attention to retirement pension, the more you know, and the more effort you put into it, the more you will reap the benefits.
I hope that "Complete Conquest of Retirement Pensions" will be the first step toward achieving that goal.
Complete conquest of retirement pension
Retirement pension, now it's time for practice!
*** The latest revised edition of the retirement pension bestseller, "Becoming a Retirement Pension Expert"
*** A complete guide to pension tech strategies from financial industry experts!
*** From sign-up to operation and receipt! Follow our step-by-step solutions to see how your receipts will change!
*** Provides a comparison list of top-yielding products and simulations to help with virtual operations!
Retirement pension in one book!
There was definitely a moment when my heart was pounding as I saw the number in my paycheck every month.
It was a time when lamenting, "It's hard to work for someone else's money," was often said as a drinking snack.
That was the life of a salaried worker.
I've become accustomed to the reality that when payday comes, I say, "I'm going to work for this reason," but then quickly become empty-handed. I've accepted it as my fate.
However, with the rising cost of living, my paycheck is no longer a sweet reward for my hard work.
It is just a storage facility that falls far short of expectations and a stop that passes by for a moment.
Unless you have an investment strategy that rivals Warren Buffett's, or you're the star of a dramatic salary negotiation, it's time to start looking into your retirement savings right now.
Before I knew it, my retirement pension was piling up, and how I manage it now will make a huge difference in my retirement.
Last year's best-selling retirement pension book, "Becoming a Retirement Pension Expert," has been completely revamped into "Completely Conquering Retirement Pension."
If the previous edition was an introductory book for so-called 'retirement-bad' office workers, this revised edition is a practical version.
The writing staff has also been strengthened.
Min Joo-young, a director at Shinyoung Securities who co-authored the previous book, was the first to join the team, along with Choi Eun-mi, head of the Pension Product Support Department at Hana Bank, and Kim Min-kyung, deputy head of the Retirement Pension Consulting Department at NH Investment & Securities.
These are experts in the field with extensive experience in asset management and retirement pension-related work, and their experience has become their calling card.
So, the core of this revised edition is ‘practical retirement pension management skills taught directly by experts.’
As the subtitle suggests, we have carefully selected secrets that will help you 'not worry about old age if you just follow them.'
In 'Retirement Pension Talk,' which contains conversations between the authors, you can get a glimpse into the importance of retirement pensions, management know-how, and even the composition of their portfolios.
This practical guide, which contains practical tips for enrolling in, managing, and receiving your retirement pension, explores asset allocation strategies that can increase returns and retirement pension receipt strategies that focus on tax savings.
Finally, we have also upgraded the Q&A surrounding retirement pensions.
This book contains a variety of information that MZ generation members who have a short history of retirement pensions or retirees over 55 years old who are about to start receiving their pensions may be curious about, such as, "What if my retirement pension is not enough to cover living expenses?", "Which is more beneficial, receiving a lump sum or receiving a pension?", and "Can I sign up for a TDF product that is different from my retirement date?"
The 1960s generation, the backbone of the baby boomer generation, has entered the aging population.
Those born in 1961 began receiving national pension this year.
We have now moved from an era of accumulating pensions to an era of receiving pensions.
As the population ages and more people receive pensions than pay them, the reality is that the National Pension alone is not enough to prepare for retirement.
This is why retirement pensions that supplement this are becoming increasingly important.
Let's look back and see if the retirement pension that will take care of my old age is being neglected.
You can protect your precious retirement pension by taking care of it as soon as possible.
Let's keep this in mind.
The moment I ignore it, thinking it hasn't happened to me yet, and the moment I gradually collect my retirement benefits with each job change and retirement, my old age will soon be filled with 'empty pockets'.
No one cares about my returns.
According to the advice of experts in the field, the more you pay attention to retirement pension, the more you know, and the more effort you put into it, the more you will reap the benefits.
I hope that "Complete Conquest of Retirement Pensions" will be the first step toward achieving that goal.
- You can preview some of the book's contents.
Preview
index
004 PROLOGUE
Why Retirement Pensions Are Increasingly Important
Understanding Retirement Pensions
008 Infographic
The era of mandatory pensions!
A glance at the current status and outlook for retirement pensions
010 Retirement Pension Mock Exam
How much do you know?
Solving Retirement Pension Problems with True or False
014 Retirement Pension Status
Are you using your retirement pension well?
018 History of Retirement Pensions
How have retirement pensions evolved?
022 Overseas Retirement Pension
Comparison of retirement pensions in Korea, the United States, and Australia
026 Essential Knowledge about Retirement Pensions
5 things you need to know when using your retirement pension!
030 Retirement Pension Talk
Hear directly from the experts
The Secret to Securing a "Real" Retirement Pension
Section 1 Practical Guide
STEP 1 Sign up
038 ① Check your retirement pension
What kind of retirement pension plan does our company have?
042 ② Worker consent
Have you agreed to the retirement pension rules?
044 ③ Introduction of the Reserve Fund Management Committee
Low operating returns are a no-no! Reasonable operating practices are a yes!
046 ④ Subscribe to DB type
Retirement pension increases depending on annual salary and length of service.
048 ⑤ Subscribe to DC type
Suitable for my asset management style
Institutions and financial institutions are important!
052 ⑥ Sign up for IRP
What are the advantages of a personal IRP?
Reinvestment benefits and tax benefits!
056 ⑦ Small and Medium Enterprise Retirement Pension Fund
Small and medium-sized enterprises with 30 or fewer employees
We take responsibility for the workers' retirement.
058 ⑧ Transferring retirement pension
Even if you don't close your IRP account
You can transfer your retirement pension!
062 ⑨ Sign up for a mixed plan
Capturing both the stability of DB and the profitability of DC
STEP 2 Operation
066 ① Operational Status
Principal and interest guaranteed type is preferred over performance dividend type.
068 ② Types and characteristics of retirement pensions
Principal-guaranteed vs. performance-based dividends
072 ③ Portfolio composition
Start by establishing an asset allocation strategy.
076 ④ Default option
Default option: Considering profit and risk is essential!
080 ⑤ Fund products
Experts will take care of everything for you.
084 ⑥ ETF products
Frequent trading can reduce returns.
088 ⑦ TDF products
Automatic asset allocation to meet your target point
100 ⑧ Operational Performance Evaluation
Judge by long-term performance, not short-term profits
102 ⑨ Rebalancing
Rebalancing, is it really necessary?
STEP 3 Receive
104 ① Withdrawing retirement pension
Preparing for retirement, rather than a lump sum
It is advantageous to receive pension benefits.
106 ② Withdrawal in the middle
If you are a DC/IRP subscriber
Early withdrawal is possible
110 ③ Receiving retirement pension
Retirement income tax upon receiving pension
How to save up to 40% on taxes?
114 ④ Pension commencement
It is essential to check the pension receipt conditions and limits!
118 ⑤ Procedures for receiving funds and precautions
What if you really need money while receiving your pension?
120 ⑥ Retirement Pension Receipt Strategy
Establishing a tax-saving strategy is essential when receiving your retirement pension!
124 ⑦ Executive Retirement Pension Receipt Strategy
What is the limit on executive retirement pensions?
Section 2 Q&A Things I Still Have Questions About
128 QUESTION ①
The retirement allowance system and retirement pension system
How is it different?
129 QUESTION ②
What is the basis for calculating retirement pension?
130 QUESTION ③
As we are approaching the peak wage system,
Which is better, DB or DC?
131 QUESTION ④
Among the retirement pension providers, banks, securities firms, and insurance companies
Which one should I choose?
132 QUESTION ⑤
I have an IRP account, can I create another one?
133 QUESTION ⑥
What if my retirement pension returns are negative?
134 QUESTION ⑦
Can I change my product at any time?
135 QUESTION ⑧
My asset management report is
How can I see it?
136 QUESTION ⑨
At retirement time and other TDFs
Can I join?
137 QUESTION ⑩
What are the benefits of signing up for the default option?
138 QUESTION ⑪
Retirement pension must be in an individual IRP account.
Should I accept it?
139 QUESTION ⑫
Lump sum vs pension,
Which side is more advantageous?
140 QUESTION ⑬
The amount and period of pension I will receive
Can I choose?
141 QUESTION ⑭
If your retirement pension alone is not enough to cover living expenses,
What should I do?
142 QUESTION ⑮
How to save on taxes when receiving pension
Is there a way?
143 QUESTION (16)
Because the company went bankrupt
What if I don't receive my retirement pension?
144 QUESTION (17)
If you get reemployed after retirement
What about retirement pensions?
145 QUESTION (18)
If I have a lot of debt, will my pension be seized?
146 QUESTION (19)
They say that if you have a lot of private pension, you pay a lot of taxes.
How much is it advantageous to pay?
147 QUESTION (20)
Among the options for early withdrawal and maintenance of retirement pension
Which one is better?
Why Retirement Pensions Are Increasingly Important
Understanding Retirement Pensions
008 Infographic
The era of mandatory pensions!
A glance at the current status and outlook for retirement pensions
010 Retirement Pension Mock Exam
How much do you know?
Solving Retirement Pension Problems with True or False
014 Retirement Pension Status
Are you using your retirement pension well?
018 History of Retirement Pensions
How have retirement pensions evolved?
022 Overseas Retirement Pension
Comparison of retirement pensions in Korea, the United States, and Australia
026 Essential Knowledge about Retirement Pensions
5 things you need to know when using your retirement pension!
030 Retirement Pension Talk
Hear directly from the experts
The Secret to Securing a "Real" Retirement Pension
Section 1 Practical Guide
STEP 1 Sign up
038 ① Check your retirement pension
What kind of retirement pension plan does our company have?
042 ② Worker consent
Have you agreed to the retirement pension rules?
044 ③ Introduction of the Reserve Fund Management Committee
Low operating returns are a no-no! Reasonable operating practices are a yes!
046 ④ Subscribe to DB type
Retirement pension increases depending on annual salary and length of service.
048 ⑤ Subscribe to DC type
Suitable for my asset management style
Institutions and financial institutions are important!
052 ⑥ Sign up for IRP
What are the advantages of a personal IRP?
Reinvestment benefits and tax benefits!
056 ⑦ Small and Medium Enterprise Retirement Pension Fund
Small and medium-sized enterprises with 30 or fewer employees
We take responsibility for the workers' retirement.
058 ⑧ Transferring retirement pension
Even if you don't close your IRP account
You can transfer your retirement pension!
062 ⑨ Sign up for a mixed plan
Capturing both the stability of DB and the profitability of DC
STEP 2 Operation
066 ① Operational Status
Principal and interest guaranteed type is preferred over performance dividend type.
068 ② Types and characteristics of retirement pensions
Principal-guaranteed vs. performance-based dividends
072 ③ Portfolio composition
Start by establishing an asset allocation strategy.
076 ④ Default option
Default option: Considering profit and risk is essential!
080 ⑤ Fund products
Experts will take care of everything for you.
084 ⑥ ETF products
Frequent trading can reduce returns.
088 ⑦ TDF products
Automatic asset allocation to meet your target point
100 ⑧ Operational Performance Evaluation
Judge by long-term performance, not short-term profits
102 ⑨ Rebalancing
Rebalancing, is it really necessary?
STEP 3 Receive
104 ① Withdrawing retirement pension
Preparing for retirement, rather than a lump sum
It is advantageous to receive pension benefits.
106 ② Withdrawal in the middle
If you are a DC/IRP subscriber
Early withdrawal is possible
110 ③ Receiving retirement pension
Retirement income tax upon receiving pension
How to save up to 40% on taxes?
114 ④ Pension commencement
It is essential to check the pension receipt conditions and limits!
118 ⑤ Procedures for receiving funds and precautions
What if you really need money while receiving your pension?
120 ⑥ Retirement Pension Receipt Strategy
Establishing a tax-saving strategy is essential when receiving your retirement pension!
124 ⑦ Executive Retirement Pension Receipt Strategy
What is the limit on executive retirement pensions?
Section 2 Q&A Things I Still Have Questions About
128 QUESTION ①
The retirement allowance system and retirement pension system
How is it different?
129 QUESTION ②
What is the basis for calculating retirement pension?
130 QUESTION ③
As we are approaching the peak wage system,
Which is better, DB or DC?
131 QUESTION ④
Among the retirement pension providers, banks, securities firms, and insurance companies
Which one should I choose?
132 QUESTION ⑤
I have an IRP account, can I create another one?
133 QUESTION ⑥
What if my retirement pension returns are negative?
134 QUESTION ⑦
Can I change my product at any time?
135 QUESTION ⑧
My asset management report is
How can I see it?
136 QUESTION ⑨
At retirement time and other TDFs
Can I join?
137 QUESTION ⑩
What are the benefits of signing up for the default option?
138 QUESTION ⑪
Retirement pension must be in an individual IRP account.
Should I accept it?
139 QUESTION ⑫
Lump sum vs pension,
Which side is more advantageous?
140 QUESTION ⑬
The amount and period of pension I will receive
Can I choose?
141 QUESTION ⑭
If your retirement pension alone is not enough to cover living expenses,
What should I do?
142 QUESTION ⑮
How to save on taxes when receiving pension
Is there a way?
143 QUESTION (16)
Because the company went bankrupt
What if I don't receive my retirement pension?
144 QUESTION (17)
If you get reemployed after retirement
What about retirement pensions?
145 QUESTION (18)
If I have a lot of debt, will my pension be seized?
146 QUESTION (19)
They say that if you have a lot of private pension, you pay a lot of taxes.
How much is it advantageous to pay?
147 QUESTION (20)
Among the options for early withdrawal and maintenance of retirement pension
Which one is better?
Detailed image
Into the book
As of the end of 2023, retirement pension reserves totaled KRW 382.4 trillion, an increase of KRW 46.5 trillion (+13.8%) from KRW 335.9 trillion at the end of the previous year, doubling in size over the past five years.
Additionally, it is projected to grow 2.5 times to 940 trillion won in 2033.
The average amount of lump sum payments per account is 16.45 million won, which is only 11.8% of the average amount of 139.76 million won per pension payment account.
--- p.15, from “Retirement Pension Status”
Rather than managing retirement pensions conservatively, it is important to manage them more efficiently through appropriate investments.
Just because you keep your cash in a safe at home doesn't mean it's safe.
Because the value of cash decreases as the rate of inflation increases.
Even retirement pensions cannot avoid the risk of asset value decline due to inflation if they are solely funded through cash or time deposits.
We need to actively seek ways to increase returns. _ Min Joo-young
Whenever I get asked, "Is it better to receive a pension?" or "Is it better to receive a lump sum?", I always recommend that you receive your pension as a pension.
They also say that you should avoid taking mid-term withdrawals if possible.
If you withdraw money in your 40s, your retirement savings will be reduced by one-third, and your retirement assets will also decrease accordingly. So, I recommend that you earn a little more and spend less while you still have earned income, and then take out a loan. _ Eunmi Choi
While retirement pensions have a 70% investment limit on risky products, bond ETFs, as stable assets, allow up to 100% investment. For DC plan subscribers, the company pays monthly, quarterly, semi-annually, and annually, so purchasing at those times will allow for the benefits of installment purchases. —Kim Min-kyung
--- p.32, from “Retirement Pension Talk”
Most retirement pensions are managed as principal-and-interest guaranteed products such as time deposits.
Low returns do not help workers secure sufficient retirement funds, and companies face increased costs due to inefficient operations.
(Omitted) Companies with 300 or more regular employees must establish a reserve fund management committee and prepare a reserve fund management plan to ensure reasonable management of retirement pensions.
--- p.44, from “Introduction of the Reserve Fund Management Committee”
A method widely used overseas in portfolio composition is the Core-Satellite strategy.
This is a method of asset management that aims to follow the overall market through core product groups and achieve excess returns through satellite product groups. Generally, the investment proportion in core product groups is higher than that in satellite product groups.
That is, 80-60% is invested in core product groups and 40-20% in satellite product groups.
--- p.75, from “Portfolio Composition”
In addition to early withdrawals, one of the reasons why the average lump sum amount received from lump sum accounts is low is frequent job changes.
Recently, with the increase in job changes and retirements, there are many cases of people working for a short period of time and receiving retirement benefits. However, since they withdraw and use all of their retirement benefits each time, they are not prepared for retirement at all.
Keep in mind that you must be at least 55 years old to start receiving pension from an IRP account that has received retirement benefits. If you receive retirement benefits from the IRP upon retirement, you can protect your valuable retirement benefits assets and prepare for old age.
--- p.105, from “Withdrawing Retirement Pension”
What if your retirement pension returns are negative? We always expect positive returns when investing, but that never happens.
One way to avoid losses is to sign up for a principal-guaranteed product, such as a time deposit, where the principal and interest are guaranteed.
However, even if it appears to be positive on the surface, the real value decreases without you knowing it due to factors such as inflation.
Therefore, you should invest to generate returns higher than the inflation rate, and avoid concentration of investments when operating for the long term.
Additionally, it is projected to grow 2.5 times to 940 trillion won in 2033.
The average amount of lump sum payments per account is 16.45 million won, which is only 11.8% of the average amount of 139.76 million won per pension payment account.
--- p.15, from “Retirement Pension Status”
Rather than managing retirement pensions conservatively, it is important to manage them more efficiently through appropriate investments.
Just because you keep your cash in a safe at home doesn't mean it's safe.
Because the value of cash decreases as the rate of inflation increases.
Even retirement pensions cannot avoid the risk of asset value decline due to inflation if they are solely funded through cash or time deposits.
We need to actively seek ways to increase returns. _ Min Joo-young
Whenever I get asked, "Is it better to receive a pension?" or "Is it better to receive a lump sum?", I always recommend that you receive your pension as a pension.
They also say that you should avoid taking mid-term withdrawals if possible.
If you withdraw money in your 40s, your retirement savings will be reduced by one-third, and your retirement assets will also decrease accordingly. So, I recommend that you earn a little more and spend less while you still have earned income, and then take out a loan. _ Eunmi Choi
While retirement pensions have a 70% investment limit on risky products, bond ETFs, as stable assets, allow up to 100% investment. For DC plan subscribers, the company pays monthly, quarterly, semi-annually, and annually, so purchasing at those times will allow for the benefits of installment purchases. —Kim Min-kyung
--- p.32, from “Retirement Pension Talk”
Most retirement pensions are managed as principal-and-interest guaranteed products such as time deposits.
Low returns do not help workers secure sufficient retirement funds, and companies face increased costs due to inefficient operations.
(Omitted) Companies with 300 or more regular employees must establish a reserve fund management committee and prepare a reserve fund management plan to ensure reasonable management of retirement pensions.
--- p.44, from “Introduction of the Reserve Fund Management Committee”
A method widely used overseas in portfolio composition is the Core-Satellite strategy.
This is a method of asset management that aims to follow the overall market through core product groups and achieve excess returns through satellite product groups. Generally, the investment proportion in core product groups is higher than that in satellite product groups.
That is, 80-60% is invested in core product groups and 40-20% in satellite product groups.
--- p.75, from “Portfolio Composition”
In addition to early withdrawals, one of the reasons why the average lump sum amount received from lump sum accounts is low is frequent job changes.
Recently, with the increase in job changes and retirements, there are many cases of people working for a short period of time and receiving retirement benefits. However, since they withdraw and use all of their retirement benefits each time, they are not prepared for retirement at all.
Keep in mind that you must be at least 55 years old to start receiving pension from an IRP account that has received retirement benefits. If you receive retirement benefits from the IRP upon retirement, you can protect your valuable retirement benefits assets and prepare for old age.
--- p.105, from “Withdrawing Retirement Pension”
What if your retirement pension returns are negative? We always expect positive returns when investing, but that never happens.
One way to avoid losses is to sign up for a principal-guaranteed product, such as a time deposit, where the principal and interest are guaranteed.
However, even if it appears to be positive on the surface, the real value decreases without you knowing it due to factors such as inflation.
Therefore, you should invest to generate returns higher than the inflation rate, and avoid concentration of investments when operating for the long term.
--- p.133, from “Still Curious, Retirement Pension Q&A”
GOODS SPECIFICS
- Date of issue: October 17, 2024
- Page count, weight, size: 152 pages | 180*230*15mm
- ISBN13: 9788947501118
- ISBN10: 8947501115
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