Provide privately for retirement? If Yes, congratulations! So you are ahead of many other German citizens. The times, in which workers were able to rely on the state pension as a retirement pension, are over.
Because the pension may be safe, but your height is not. Official forecasts see a sagging in the pension level, currently at around 48 percent to just 43 percent in 2030. In a study from last year, the German Institute for economic research (DIW) calculated on behalf of the Bertelsmann Foundation, that until the end of the 2030er years, with 21.6 per cent, practically one out of every five pensioners from poverty in old age will be threatened.
The study was even of a fairly robust economy in the meantime, what in the light of the Corona-crisis lapses. It doesn't help so a private pension in addition to the legal pension is a Must. Every citizen must themselves prepare financially to his retirement. The free comparison of FOCUS Online (display) you will Find your optimal private pension!
However, typical of the Fall, which come to the savers at the end of tax lurking in the private pension. These five mistakes should avoid care Provider about.pitfall number One: Too late
start by far The biggest event of the retirement of the subject to long delay. The sooner savers with a Pension start, the greater the compounding effect, the assets levered to the top – whether it is a fixed income or a regular equity investment with an ETF savings plan.
An example of the enormous weight of the temporal component. A 20-Year-old has 47 years until retirement. He creates in this time, 100 euros per month at an interest rate of five percent, he has at the beginning of the pension, around 218.600 Euro part, of which three-quarters is attributable to the interest income. Everything you know about your pension
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Who starts ten years later, you must put for the same asset under the same circumstances a month already 175 Euro. In this case, the pure interest rate is and interest rate interest income only about two-thirds of the accumulated capital. The 30-Year-old, however, only 100 euros a month, he comes just to just 124.800 Euro – only slightly more than half of the Saver who started ten years earlier.pitfall number Two: the demand in the rest waste etching
state How much money you will need in old age? Frugal people are content, perhaps, with the statutory pension. However, if you want to keep the income level of working life, evident in their views on the level of pensions, the great gap will be closed. Care providers should be aware of how high the income level is supposed to be retired.
depends, Because of which, the Form in which savings must be. In the case of a relatively low claims, namely, it may be enough, later retirement, or with a little risky investments, such as capital insurance or Investments in government bonds of life. These offer less yield, respectively, the interest, the capital is safe.
Whoever starts, however, later on, or higher claims has not come to more profitable and riskier investments, such as stocks around. Financial professionals know The income can only increase if a higher risk is received ("no free lunch"). Savers who do not want to expose their capital to this risk, you should start more, or save more, or your claims will reduce.
the so-called "pension cockpit" is to be provided to German citizens, but this year is a tool which gives a holistic Overview of the income in the pension. Or, as it is explained in the lead of the Association "German pensions information" itself: Like the car, it should be at-a-glance, to the personal financial situation in old age to assess.
on The topic:read here on how to remove the old money from the Savings without the capital to consume.pitfall number Three grants from the state, except Eight
The state organizes the legal retirement offers to workers in addition, yet more. These gifts of Money should be care Providers not on the left. The best example is the asset-building payments (VL) are.
this form of savings, employers pay on a VL-efficient Investment, such as a building loan contract or a Fund savings plan, the employee and up to 40 euros a month. Within specified income limits state subsidies of up to 20 percent on the so-called employee savings allowance added yet. At the earliest after seven years, the accumulated can be paid out of money then.
Similarly, in the so-called Riester-pension is a privately funded supplementary pension. Here is the basic allowance-waving on the one hand, but on the other hand, government grants, if you have children. Also for a better income can be "worth Riester". Because, up to the limit of 2100 euros in the year Riester, you can Deposit tax-deductible. You make more of your money!
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pitfall number Four – No own cushion
to build This trap is a particularly unpleasant: Who leaves when the pension is the only income of the partner, experienced an existential catastrophe, if it comes shortly before the retirement to the separation. Particularly women are threatened about more poverty in old age.
however, women are already on average less and have, for example, through pregnancies, often are no gaps in the employment biography. Spouses should make provisions about every man for himself, for example, with a own ETF savings plan.
The cost of course. But also, if only one spouse is employed, there are ways to prepare financially for retirement. So the non-working spouse may conclude, for example, a second, own Riester contract. Here is the base amount of 60 Euro in the year to receive the basic allowance. Stock market expert Bernecker: "Just the Dummies in the stock market get rich" FOCUS Online stock market expert Bernecker: "Just the Dummies in the stock market get rich"number Five the case – The strategy always switch back
The last typical case that the pension is the frequent Change of the pension vehicle. On the stock exchange there is the saying "to and fro bags makes empty". Is: Who often securities and sold, accumulates immense transaction costs. The higher the transaction costs, the more profitable the exchange must be to cover the expenses.
Expensive but it is also, if you veer in the Prevention of about from one to another Riester contract. Similarly, the immense cost, when you sold, for example, the property, to invest capital in the stock exchanges.
It is therefore, according to the Fall number One and Two, right from the beginning on an appropriate strategy with the proper risk set. As the core of a private pension Fund, an ETF savings plan offers alone because of the long time horizon, such as on the world stock index MSCI World. Here it is, in fact, flexible – the capital is in doubt, exchange the case available on a daily basis, the level of Deposit rates, you can customize and you can change the savings plan without major effort simply to a different Index. The ETF savings plan comparison of FOCUS Online (display) you will Find the right ETF savings plan, in comparison
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