You can retire to 750,000
Retirement: is € 500,000 enough for your pension?
V-Check: Retirement: Is 500,000 € enough for the pension?
Many prospective retirees ask themselves: How much capital do I need at the beginning of my retirement in order to be financially secure later? How much wealth do I need to pay myself a monthly pension of, for example, 2,000 euros? In addition to the individual tax burden, the answer to this depends crucially on the type of investment chosen. There are four points to keep in mind in any case. Find out where you stand in just a few clicks with the Financial Freedom Calculator!
1. Investors are giving away a lot of money with instant annuities
“Anyone who wants to earn a regular additional income in old age almost automatically thinks of one Immediate pension or buying one Rental property“, Says Frank Wieser, managing director of PMP Vermögensmanagement from Düsseldorf. From the independent financial expert's point of view, this is a serious mistake because investors can give away so much money. Neither immediate pensions nor rental properties achieve a return over the years like a solid securities account. Anyone who wants to earn an additional pension of 2,000 euros a month in old age needs far less capital with stocks and the like than with real estate or an immediate pension - in 30 years up to 210,000 euros less (see below).
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