Retirement is getting closer – but if you think that it is too late for clever preparation, you are huge. In recent years before the pension, many financial, organizational and personal course can still be set in order to start the new phase of life well secured.
Get an overview: How much pension really comes?
Before you make concrete decisions, a thorough view of your own pension claims is worthwhile. The pension information of the German pension insurance provides an initial orientation on the expected statutory pension. In addition, claims from company pension schemes and private contracts (e.g. Riester, Rürup, life insurance) should also be taken into account. If you get a complete overview here, you will see possible gaps or overlaps at an early stage.
It is also important to reflect on the planned start of the pension. A later retirement not only increases the monthly pension payments, but also extends the time of deposits. Conversely, an earlier entry can be associated with discounts – but still attractive for many, for example for health or family reasons.
Tax aspects also earn attention: since 2005 pensions have gradually become taxable, the taxable share increases with every new pension year. If you know how high your tax burden will be, you can plan better – for example in liquidity reserve or when choosing payment options from private pension contracts.
Final optimizations in the final sprint
A few years before retirement, even measures can be taken to improve the financial basis. One possibility: voluntary contributions to statutory pension insurance. These can help to compensate for discounts or fill the lack of insurance times – especially in the case of planned previous pension.
It can also make sense to readjust existing pension products such as Riester or Rürup contracts. Especially with the basic pension (Rürup), tax benefits can be used by one -off payments – especially with high incomes in the past work years. However, the remaining term and tax deductibility should be checked individually.
Investments also earn special attention in this phase. Now it is advisable to adapt the investment strategy to the upcoming withdrawal phase: risk reduction, higher liquidity reserves and clear payment plans create security. If you have a rented property, you should consider whether a renovation, sale or the further rental is more suitable in the long term – depending on the condition, location and your own lifestyle.
Adjust lifestyle and planning
The financial preparation is one thing – but it is just as important to adapt the lifestyle to the upcoming retirement in good time. A good first step: a realistic budget budget. Anyone who compares their expected expenses with future income will recognize early on whether and where there are savings potential. In particular, fixed costs such as rent, insurance or vehicle costs should be checked critically. The topic of debt also plays a major role. Experts recommend being debt -free to retire – especially larger loans or mortgages should be repaid beforehand, as the monthly loads often weigh more heavily in old age. Another important point is health insurance. Anyone who is in statutory health insurance (GKV) remains there in retirement – but only if certain pre -insurance times are met. If you are privately insured, you should check in good time whether the contributions are wearable in old age or whether a tariff change may be useful.
After all, it is worth considering even non-financial aspects: How do you want to use the newly won time? For some, a part -time job is a good way to stay active and generate additional income. Others plan volunteer work or more time for family and hobbies. Those who develop concrete ideas at an early stage not only create structure – but often also more life satisfaction in retirement.
Editor finance.net