While you postpone it, time advances… without money saved for when you can no longer work. The Director of Sustainability and Investor Relations at Grupo Financiero Banorte, José Luis Muñoz Domínguez, made it clear: retirement is not an event that just happens; it is a process built with every financial decision you make today. Here's the interesting part: you earn money on your money… and then on those earnings as well. At this point, you might already be wondering: how do I start? Don't get overwhelmed. If you are already working, you most likely have an account with one of the Retirement Fund Administrators (Afore). Yes, the Afores are a retirement plan. The money for retirement savings stays put. It is deposited in financial instruments (like funds) so that—over time—interest makes it grow. Returns, the “extra”: This is the profit generated on what you save. This is where you can boost your savings. You decide how much and when to save. If you don't start, there will be no pension or anything to collect later. “If your 60-year-old self could send you a message, they wouldn't say ‘thanks for this iconic outfit’; they would say: ‘And where is my money?’ Even small amounts make a big difference. They are institutions that manage the money that you and your employer, if you work formally, contribute for your retirement. You can make contributions from 50 pesos. Complement it with another plan. It's that you are leaving your retirement for later. It can be monthly, bi-weekly, or whenever you can. You can count on Grupo Financiero Banorte to add additional strategies. Check your account statement. The problem with your pension is not age. It's more like building a playlist where each financial decision is a song that adds up, and the sooner you start, the better your results. That money is saved in an account in your name and is invested to grow over time. How can I improve my retirement starting today? Banorte recommends: Locate your Afore. If you don't know which one you are in, you can easily check it online through the Afore Móvil app. Make voluntary contributions. Your “future self” will thank you. This reduces the risk of old-age poverty and increases the chances of better returns. Make informed decisions about the retirement savings options available in the market and avoid unnecessary risks. Test different investment strategies and adjust your plan as needed. Adapt your retirement plan according to your life changes and goals. How does a retirement plan work? A retirement plan has three key pieces: Contributions. You don't need to start with large amounts. Investment. “Planning for your retirement is one of the smartest moves you can make,” he noted. Retirement is not an “event”; it's a playlist. It's not about reaching a certain age and magically having money. Yes, open it. You must: Diversify your investments.
