Private pension provision affects us all
While 20 years ago bottle-collecting pensioners were a rare sight on Germany's streets, today they are already part of the everyday street scene. The results of a survey by Deutsche Bank clearly show that already every second German citizen has anxiety about no longer being able to maintain the accustomed standard of living in old age, or even sliding into poverty in old age. Furthermore, 78% of the respondents also stated in this study that they did not expect to have sufficient financial resources available in old age. Consequently, confidence in the statutory pension is currently lower than ever before.
It has been known from the media and politics for many years that the statutory pension is no longer a guarantor for a carefree retirement, which makes a private pension plan absolutely necessary. At the latest when the annual pension statement is inspected, it becomes obvious to the individual that, given the current retirement policy development, private provision measures must be taken. For even if poverty in old age will certainly not affect everyone in the economic sense, no one across all sections of society would want to accept a reduction in quality of life and standard of living in old age.
Fixed: living in dignity and without charitable support is no longer a matter of course, and today, more than ever, requires a planned approach and corresponding economic as well as legal KNOW HOW.
Independent advice and long-term pension strategy for your retirement provision
But how should one insure oneself privately and provide for old age? Which investment strategy is the right one and which insurances keep what they promise?
It can be ascertained that, on the part of politicians, the responsibility for old-age provision and asset planning has largely been transferred to the citizen, and concrete, financial-policy-founded recommendations for action or strategies are not to be expected. Accordingly, a great deal of uncertainty is felt across all sections of society, which is further fuelled by a confusing number of financial and insurance products.
There can therefore be no uniform answer or strategy to these questions. Individual requirements and life situations should definitely be included in a sustainable provision concept. And to ensure that you are really in the best possible position, a precise analysis of your current financial situation should be carried out beforehand, along with all expected developments in your financial circumstances. Furthermore, it is urgently advisable to review the various provision models, in particular government-subsidised pension products, also with regard to their tax advantages and disadvantages. An increased tax burden in old age, and possibly additional contributions to statutory health insurance, very often significantly reduce the freely available pension amount. An insurance and tax mathematics check is therefore highly recommended even before conclusion.
Accordingly, independent advice without pressure to conclude a contract and without commission is highly recommended at this point, so that your interests are protected in old age. Speak to us with pleasure!
Investment opportunities for retirement provision and asset planning:
- Owner-occupied properties
- Letting of real estate
- Shares
- Funds
- Savings plans
- Riester pension
- Rürup pension
- Life insurance
- Cooperative shares
- ETF's
- Insurance wrapper
- Tax saving models
- Closed-end investments
- Time value accounts
- Support fund
- Pension funds
- Pension fund
- Precious metals
- Savings plans
- Participation rights
How we support you with your retirement provision and asset planning:
- Advice on insurance law
- Independent advice on various pension models
- Assessment of existing insurance contracts
- Explanations of funding models and investment models
- Independent pension advice on a fee basis
- Tax advice and analysis of existing investments from a tax perspective
Helpful further articles on the subject of asset planning:
- Pre-programmed old-age poverty despite additional private provision by those with compulsory insurance
- Legal advice for your private pension provision
- Retirement provision benefits companies and employees – savings pot for medium-sized companies
- Old-age poverty: European countries expropriate pension savers