Schluss mit der Aufschieberitis

That is why retirement planning is important

Regardless of whether you are employed and pay into the pension fund or not: A statutory pension will not be enough for you to be able to live on it in old age. This affects women even more than men, since they have generally (e.g. due to parental leave) left the profession at least temporarily. This means that private pension provision is very important and it is best to start as early as possible.

Claudia Müller is the founder of the Female Finance Forum. She has been working professionally on the topic of financing in old age for several years. The expert gives many lectures and workshops in which she talks to women about financial security and money. She keeps meeting women who know exactly what to do. Investing in stocks is one way to provide for old age.

When it comes to retirement provision, most people don’t really know where to start for themselves. Many are wondering whether they should take out a Riester contract or rather take out life insurance. There is a general phobia against buying shares. Investing seems particularly risky to many people.

Women invest less money

In the vast majority of cases, there is a lack of general reference to finance. This is understandable, because there is no general financial education. Nobody, neither man nor woman, learns anything at school about how the pension or tax system works or how money can be invested successfully. To start with, the sufferer needs to know exactly how it works.

Nevertheless, the men in particular manage to just get started. Regardless of whether they are on their own or in a partnership: they are usually the ones who worry about financial matters – especially about securing for old age.

It is generally good to want to understand – and the person concerned should deal with this intensively at the beginning. With a permanent basic knowledge, he can simply start once. There’s not much to lose and it’s more likely to happen when your money is lying around in your savings or money market account.

What the experts are talking about here is inflation, which many investors don’t consider. If the money is not invested but lies dormant in an account, it loses its value over time. Due to the low-interest phase, there are currently no interest rates that could possibly offset this effect.

The experts keep encountering the phenomenon that women rely on men. So it is in our society that the man has to take care of the available money. While the women often manage the household money themselves, the man is responsible for the rest.

The retirement plan

Many people no longer want to postpone their own retirement planning. Then they should start now with these five steps to simply take their old-age provision into their own hands. It is important to analyze the status quo. In general, retirement savings are something that people invest in on a regular basis—mostly monthly. It is therefore important to first analyze your own status quo.

Women in particular should first list all expenses and income. What is important is what they earn monthly and what their costs are. It is also important whether debts have to be paid off and whether there are savings. A building savings contract may exist. This is the best way for them to find out how much money they can use for private pension provision.

On the other hand, the expected pension payments are important. With a pension calculator, people can easily find out how much money they may be missing in old age. This second aspect certainly does not affect every woman. However, if they exhaust their own overdraft facility every month or have open loans, then the next step is to pay off these loans.



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