If you want to maintain your standard of living after a busy life, you have to make provisions early on. It is never too early to think about the future. The sooner you take care of your private provisions, the sooner you can enjoy your life without worries.
However, anyone who relies only on State pension schemes risks having to cut back considerably at the end of their working life. This is because the pension system in Germany, in particular, is in a precarious state as a result of demographic developments. In the future, fewer and fewer young people will be paying for the pensions of more and more older people.
While today’s pensioners still receive 70% of their last net salary as a pension, tomorrow’s pensioners will have to get by on less than 50% of their net salary.
The aim of the individual is therefore to build up a sufficiently large financial cushion until retirement age in order to make a living from it later. Even with small monthly contributions, interest can help grow it into a considerable fortune. The earlier you start your pension plan, the better and cheaper the benefits will be for you and your family.
Only through a pension concept tailored to your individual needs can you make up your pension shortfall and enjoy your retirement to the fullest.