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250,000 euros saved: Can I retire now?

2023-03-08T15:13:04.623Z


The fear of poverty in old age is great. That is why there are always many questions about life after work. Also about whether you can make ends meet with a well-filled savings account without additional help.


The fear of poverty in old age is great.

That is why there are always many questions about life after work.

Also about whether you can make ends meet with a well-filled savings account without additional help.

The fear of many people in Germany: After many years of work, they will still not be able to make ends meet with their own pension.

Maybe because you let the subject of private old-age provision slide, maybe because life just didn't treat you well.

There are many reasons for falling below the poverty line.

Here it helps to know how, for example, the personal pension is calculated and what role pension points or the level play - but uncertainty still prevails everywhere.

That's why some people think that you just have to have a sufficiently large cushion in your account, then you can have a good life after work.

But is that really true?

Thomas Kehl, a successful financial Instagrammer and podcaster, answers the question on his

Instagram

account

@financeflow.

As an example, he calculates with an existing savings sum of 250,000 euros.

Check out this post on Instagram

A post shared by financial flow (@financial flow)

Pension with 250,000 savings - can that work?

On his Instagram account, Thomas Kehl always answers questions about finance.

In the March 3 post, he answered the question of whether you could retire with 250,000 euros in savings.

His answer: "It can be, but it can't be." Ultimately, everything also depends on your own living conditions: where you live (big city/village) or how you live (rent a small/large apartment, your own house ) for example.

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Enjoy retirement without financial bottlenecks: the assets you have saved can help you forget some of your worries.

(icon picture)

© Ulrich Wagner/Imago

Nevertheless, Kehl sets an example for his followers – but without tax deductions and with an estimated return of five percent.

He multiplies the EUR 250,000 by the five percent return (EUR 250,000 x 0.05) and comes up with a total of EUR 12,500.

"If we divide that by twelve again, you could roughly calculate with 1,000 euros per month," Kehl continues.

Pension fairy tale: "Retirement comes automatically" - nine myths that circulate about the salary in retirement

Pension fairy tale: "Retirement comes automatically" - nine myths that circulate about the salary in retirement

Pension: 1,000 euros a month will hardly be enough for many people

It is also very important to Kehl that the five percent is a long-term, average return.

He is of the opinion that with savings of 250,000 euros and possibly 1,000 euros a month, you can definitely close the pension gap a little.

But he also assumes that most people will probably have to work additionally to get support from the statutory pension insurance.

Savings alone will hardly be enough for most people.

List of rubrics: © Ulrich Wagner/Imago

Source: merkur

All life articles on 2023-03-08

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