A sufficient financial cushion in old age ensures security and maintaining the usual standard of living. But which sum should be saved until retirement? Experts provide guidelines that can serve as orientation.
Necessary savings for retirement
Anyone who is thinking about retirement and also attaches importance to financial security even after the pension should determine specific savings goals at an early stage, which are based on gross annual income, as Fidelity recommends: At the age of 30, at least one annual salary should be covered. Up to the age of 40, a triple annual salary is regarded as a reasonable reserve. At the age of 50, the savings should be six times the gross annual income. Shortly before retirement, i.e. at the age of 60, the recommendation increases to eight times, while the gross year of gross
These calculations are based on the assumption that around 70 to 80 percent of the last net income is required to maintain the previous standard of living. Deviations result from individual ways of life, fixed costs or additional sources of income.
Long -term provision as the key to financial security
The time at which saving is started has a decisive influence on the financial situation in old age. If you start early, you can optimally use the compound interest effect and build a stable assets over the years. A regular savings rate of around 10 to 15 percent of net income is considered recommended, such as a contribution by T-online explained. Early saving also enables the use of low -return investment options. Those who start the provision late must cover higher amounts and are more affected by fluctuations in the capital markets.
Spar strategies for different phases of life
In the 20s, it is advantageous to do small amounts in broad forms of investment such as ETF-Savings plans Or invest equity funds. At the same time, an emergency sig should be set up to cushion unexpected expenses. In this phase, it is also advisable to benefit from the company pension scheme if the employer offers it. With increasing age, the focus is on structural planning. In the 30s, an increase in the savings rate is recommended, while additional private pension insurance can be useful as a supplement, says Riverty. Three to six month salaries on a call money account offer financial security for unpredictable events.
In the 40s, regular reviews of the investment strategy are in the foreground. Adjustments to changed income relationships or professional developments may be necessary. Gaps in old -age provision can be closed by targeted deposits. Shortly before retirement, the focus is on securing the assets built up. Risk investments are increasingly being replaced by secure forms of investment. Tax optimization options should be checked in order to use the capital as efficiently as possible for retirement. Early budget planning facilitates the financial design of the coming years.
Continuous adaptation of financial planning
Pension is not a one -off decision, but an ongoing process. A regular review of the financial situation ensures that the savings goals are available. Pension gaps can be compensated for by additional deposits in private or company pension models. Tax advantages should be used in a targeted manner to manage the savings as efficiently as possible.
Editor finance.net