JAKARTA - Arranging finances in order to prepare pension funds and investment must be done as early as possible. As for the sandwich generation in particular, preparation must be done as carefully as possible.
Aliyah Natasha CFP MSc, financial planner & educator said that expenses for medical treatment and health care are the biggest unexpected costs and can consume assets and assets that have been collected by the sandwich generation for pension fund preparation.
According to Aliyah, it is important for the sandwich generation to choose insurance carefully. Insurance is a financial product that acts as a health protector and the continuity of welfare for all family members, from parents, spouses and children.
"If a family member or breadwinner falls ill, insurance will provide protection by covering the cost of treatment," Aliyah said as quoted by Antara, Tuesday, September 1.
The sandwich generation is someone whose existence is squeezed between supporting the lives of parents and their children. So it is very important to make a priority scale and communicate the priority level clearly to all family members.
The discipline of saving must also not be forgotten in managing finances. Setting the priority level can help to prepare for pension funds and unexpected expenses.
"The key to being able to save is spend less and save more. Cultivate a mindset that the best way to live comfortably is to prepare extra cash and have an investment as fuel to survive until the end of life," said Aliyah.
Aliyah also said that the sandwich generation must be able to determine its financial goals such as making a list for the future and what can be used as a long-term investment.
"The three main goals of money are for the needs of today, tomorrow and the future. Make a detailed list of life goals along with the development of life. This will help determine the suitable investment product," said Aliyah.
The last thing that must be taken into account in managing finances is investment literacy. In addition to saving, investing can meet pension funds for the future, but choosing an investment must also be critical so as not to make a mistake or be deceived.
"As one way to optimize money while fighting inflation, the fruit of the right investment is a return on profit that can accelerate the achievement of financial goals," said Aliyah.
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