Using money as a means of trading has a long history in the world. But saving money or investing for retirement is a new wealth management concept in recent decades.
Before World War II, most Americans worked until the end of their lives. In 1940, the labour participation rate of those who were 65 years old or above was more than 50%, while the life expectancy back then was just around 70.
Wealth management for retirement
In fact, the “401(k) Retirement Plan”was launched until the 80s in America, and MPF (Mandatory Provident Fund Schemes) in Hong Kong was even launched until 2000. Retirement planning and wealth management is a comparatively new idea to us. There are a lot of rooms to explore different wealth management strategies and tools for retirement planning.
Read more on Privilege Vida.
