The tips of Helma Sick on pensions
Will my capital lose its value on the deposit account?
I do not think much of securities, 46. Therefore, the capital for my retirement is on a time deposit account. 2.5 percent is there for it? and without any risk. But now a financial adviser told me that I can not sustain the value of my assets in the long term. Is she right?
With a long investment time of ten years and more - as you are the case - this is definitely right. A time deposit can be very useful if you need the money again in the foreseeable future. However, it is not suitable for long-term investment, for the following reason: You receive 2.5 percent interest on your deposit. If you are above the annual allowance of 801 euros, the tax office gets 25 percent of it. So you have a real 1.87 percent return. With an assumed inflation rate of 2.3 percent, you would therefore have a minus of 0.43 percent. This turns a risk-free interest rate into an interest-free risk. Even and especially with regard to old-age provision, nobody can afford to forego a profitable investment.
How high should a nest egg be?
Recently, we discussed in the factory, how much you should actually travel as an iron reserve. A colleague said, three net monthly salaries should be it already. What do you think?
I think so. In my consultations, I recommend having two to four months' salaries available at all times. How high this iron reserve must be in each individual case depends on several factors: * Those who are self-employed and have fluctuating incomes better plan a higher reserve than, for example, a civil servant. Of course, if you do not have high running costs, you do not need to have as much money in your pocket as a woman who has to pay off loans. * Owners of a property that they use themselves must not forget that time and again expensive repairs are required. * And think about your age. As the years go by, so do health expenditures, such as medication, dentures, or nursing. It is best to check what applies to you. Then you know if you would need two months' salary if need be, or better plan four salaries in advance.
Should I buy a second apartment?
I inherited a condominium and 200 000 euros. Actually nice, but I'm unsure because of the ongoing crisis. I would like to invest the money in an apartment. What do you mean?
If it calms you, do that. There is nothing wrong with buying another apartment. Keep in mind, however, that real estate is clearly one of the long-term investments that can not quickly be made into money. They serve the wealth preservation and the pension. I do not consider it necessary and not sensible to invest the entire capital in such a way. It is important that some money is always available at short notice? for example, on a call money account? if the washing machine breaks down or a car repair is pending. And you should be able to access part of your capital in the medium term. After all, you do not know how your situation will change in the next five or six years.
Should I only accept a mini-job because of the taxes?
I am 42 years old and have been home for three years because of our child. Now I want to go back to my job, but my husband says that would not pay off. If I stay at home, he gets more money through the spouse splitting. With his good income, this is about 550 euros per month. He suggests that I look for a mini job, then we have 1000 euro more in the account monthly, and I can keep his back free. I am undecided - what do you mean?
I know this bill enough. However, it is only in the short term, hardly anyone considers the consequences: They are now three years out of business, just time to return. After a break of five or more years, there is little chance of getting a skilled job. What if your marriage diverges? Under the new maintenance law, every woman has to work again after three years of parental leave, so she is not entitled to maintenance. In addition: Can children be the sole content of life in the long term? The time when children need full-time care is limited. What do you want to do in the rest of your life? Paid work means own money, own pension, but also participation in the social and social life and recognition. If you still want to follow your husband's advice, then you should insist that the money your husband gets through the marriage splitting is invested in your retirement savings.
How can I get a pension insurance now?
My husband has always made me believe that he has a pension insurance for himself and one for me, almost 30 years ago. Now he has admitted to demands that both insurance companies run in his name. I'm pissed! As I only worked part-time, my pension will be correspondingly low. What should I do now? In my opinion, there is only one way: You demand from your husband that he grant you the irrevocable subscription right in the event of death and survival for one of the two pension insurances. All you need to do is write to the insurance company. Then you will get the money saved in this insurance in any case. The subscription right must be granted "irrevocably" because it can then only be changed with your consent.
Which term is useful for risk insurance?
My husband and I want to take out two life insurance policies. Each of us should be well protected in case the partner dies in front of him. How long do you think such insurance should actually run?
As long as the circumstances, ie your life situation, require. If, for example, you have real estate debts, the best way to end the insurance is when the loan has been repaid. Since the remaining debt will become less and less over time, you could also take out a risk life insurance policy with a decreasing death penalty. This means that the sum paid out in the case of the case decreases from year to year - which reduces the contributions to the policy during the entire term. Or do you want to protect each other because you have small children? Then it is advisable to run the insurance until your children are working and financially independent.
Am I really stupid with life insurance?
My husband has recently died, and now I learn that all the money from his life insurance goes to his former wife! I never thought about that before. What can I do now?
Unfortunately, nothing. That's why I can not spare you an accusation: it was quite negligent not to take care of these things in time. For the insurance is only relevant, who is registered in the insurance policy under "subscription rights". And there will be the name of the ex-wife, if it is she who gets the full sum insured after her husband's death. What he probably overlooked or forgot: Normally, the entitlement can be revoked or changed at any time during the term. So it would have been quite possible to delete the name of the first wife and instead have you registered as a beneficiary. It is different, however, with an irrevocable subscription right. This must be requested separately upon completion of the insurance. And it can only be changed later with the consent of the respective beneficiaries.
When should the care insurance pay?
Years ago, I took out private supplementary care insurance. It is not even so expensive, but I get money only from the care level III. Is this insurance sufficient?
I think: no. A long-term care insurance should in any case already pay from the care level I, better even already from the "care level 0" (in case of considerably limited everyday competence, for example in dementia). Because most nursing cases are in care level I, the least in nursing level III.
What brings me the "nursing Bahr"?
I, 40, is thinking about completing supplementary care insurance with state subsidies. But is it even useful at my age to deal with it? And what exactly is the "Pflege-Bahr"?
Even if the topic seems to be a long way away, do it on time so you do not come under pressure later. The "Pflege-Bahr", named after the former minister of health, is additional policy to the statutory long-term care insurance and is subsidized by the state with 5 euros per month. You can insure everyone from the 18th birthday onwards, there is no age limit. The own amount must amount to at least 120 euro annually, thus monthly 10 euro. For care level III, the insurance must pay at least 600 euros per month. For care level II at least 30 percent, for care level I at least 20 percent, for severely limited everyday skills, for example in dementia patients ("care level 0"), at least 10 percent. It is a "compulsory obligation to contract", that is, the insurance must take regardless of health, anyone who is not yet in need of care. The insurance company may not charge any risk surcharges or exclusions. Entitlement to benefits exists only after a waiting period of five years from the start of the insurance. The "Pflege-Bahr" is a good and inexpensive entry into a basic insurance. It can later be combined with a private supplementary care insurance and expanded.
How do I best protect myself in case I need care?
I, 56, are entitled to a statutory pension and a company pension and have savings. 100 euros per month, I could still save until retirement.Do I really need additional care insurance?
According to the "Nursing Report 2012" of a large public health insurance, women are twice as likely to pay care costs because of their longer life expectancy than men: on average 84,000 euros (men: 42,000 euros). The women contribute an average of about 45 000 euros themselves. If you save $ 100 per month over the next eleven years, to 67, and spend the money at an average of 2 per cent, you'll earn around $ 14,700, which you and your remaining savings would spend on care. But what if the money is spent? A good supplementary care insurance, in which no waiting periods must be observed and in which you no longer have to pay contributions from care level I, costs 74.88 euros per month at your age, which is less than the amount you could save now. You are entitled to 450 euros / month for care level 0, 450 euros / month for care level I, 900 euros / month for care level II, 1500 euros / month for care level III, and no matter how long you need to be cared for.
Will there be enough left over from private pension insurance later on?
I pay into a private pension insurance. However, I wonder if I can do anything with the money later. Due to the creeping inflation, it will be worth less and less. How can I counteract?
For example, by making the monthly contribution to the pension insurance more dynamic, ie increasing it once a year. Depending on the society, this is possible with one to ten percent increase. So you prevent the latent devaluation.
Would pension splitting be right for me?
Recently, friends discussed a pension splitting for spouses. I had never heard of it. For whom is this even considered?
This is explained in advance: The pension split, which exists since 2002, is intended to improve the retirement income of women. Similar to the income from spouse splitting, the statutory pension entitlements acquired during the marriage are shared 1: 1. This increases the pension of the partner who earns less, ie has paid less contributions. With the other, the pension decreases accordingly. This is possible if the marriage or civil partnership was closed after 31 December 2001 or if each of the two partners was born after 1 January 1962. Once both are eligible for old-age pensions, they must make a joint statement that they choose to split the pension. Thus, the right to a survivor's pension expires. Each couple has to decide for themselves whether this could be worthwhile.
Why do you recommend the Riester pension?
In media reports it is said again and again that the Riester pension is no use. How do you come to recommend them anyway?
I do not give a blanket recommendation for the Riester pension. On the other hand, I find the sweeping attacks against this precautionary form alarming. Many are so unsettled by this that they do not conclude a retirement savings contract or even terminate existing contracts. I stick to it: Especially for young savers and families, the Riester pension is the first choice if the right contract is chosen to match the living situation and risk appetite. Under the collective term Riester contract is indeed offered a variety of products, and there are of course differences in the providers. There are five options: 1 The classic Riester pension insurance offers a guaranteed life-long pension and additional participation in the surpluses generated. The safety is in the foreground when investing the pension capital. 2 A Riester bank savings plan is cost effective, but it only provides a meager return. Most suitable for over 50s and for those who have not long to retire. 3 With the Residential Riester, you can make equity through a Riester home savings contract with your deposits and state subsidies. Or you can take out a Riester loan for real estate financing. The allowances then flow into the repayment of the loan. 4 For younger people, who can count on a long running time, z. B. a Riester fund savings plan: The invested money flows into equity and pension funds. Highest return opportunities, limited risk. 5 The unit-linked Riester pension insurance is also intended primarily for younger people: a pension fund invests in funds. High return opportunities with reasonable risk, the insurance is expensive. For all variants, there are 154 euros basic allowance per year, plus 300 euros per child, born after 1.1.2008, and 185 euros each for the children born before. Capital and allowances are guaranteed.
Is "Riester" worth it for me?
As a mother, I (42) currently work half-time and therefore earn only 13530 euros gross per year. I live together with the father of the child unmarried. My bank now wants to sell me a Riester contract. But I do not know if this is really worthwhile for a low earner like me. The Riester pension is counted, for example, when you get a basic pension in old age. Or am I wrong about it?
No, you are right: the Riester pension, like all other income, is counted towards basic state security for needy pensioners. But why does that speak against your own pension? I do not understand that with the best will. You are now 42, so you have 25 years of working life ahead of you. During this time, you should and must do everything possible to build and expand your retirement. The basic security is intended only for people who have been prevented by illness or misfortune from providing for themselves. My advice: You could, for example, agree with the father of the child that he will take over the pension for you. Probably you are with his consent only half-day gainfully employed, but carry the disadvantages alone. To at least partially compensate them, you could, for example, conclude a Riester contract, because it secures you state allowances. If you work more later, the Riester contract grows automatically.
Is a Riester pension worth it for me?
My bank has me? 57 years old and half busy? recommended a Riester pension. However, I think that very little comes out of it. Should not you rather keep your hands off this type of retirement?
That's not the case. For younger people and of course for families with small children, the "Riestern" worthwhile in any case. For those who are older and earning less, this investment does not really bring profits. This is shown to you by a simple calculation: Assuming you earn half a day's worth of 20,000 euros gross. Of this, you must pay 4 percent into the Riester pension, less the state allowance of 154 euros. Makes 646 euros every year. In ten years you have invested all in all, 6460 euros, of which then but also administrative costs for the insurance go out. How should a lifelong pension of a reasonable amount be possible with this small sum? However, you have to open a similar bill for every savings plan in which little can be paid in and for which only a few years are available.
What happens to my Riester allowances when I work abroad?
I will go to France for a year for work. Do I get any problems with my Riester pension or state subsidies?
Basically, if it is a "posting" of your employer, while you continue to make contributions to the German pension system, nothing changes. On the other hand, if you move your domicile completely abroad for more than six months, the "unlimited income tax liability" expires in this country. The legislator sees this as a "harmful disposal" for the Riester contract, even if you do not terminate the contract. Already paid allowances and any tax benefits would then have to be repaid in principle. But that can be avoided. You can ask your insurance company by informal letter that the repayment of the allowances will be deferred. To do so, you must indicate the beginning and probable duration as well as the reason for the stay abroad. The insurer then forwards the letter to the "Central Allowance Office" for retirement assets.
Will I receive my Riester pension in Norway?
I've had a Riester contract for some time. In a few years I will retire, but then I want to emigrate to Norway. What is happening with my Riester contract?
If pensioners move to other EU countries, they may keep the allowances and tax benefits received. This also applies to Iceland, Norway and Liechtenstein, which do not belong to the European Union, but to the European Economic Area (EEA). So you can get your Riester pension without restriction.
Helma Sick regularly answers questions about money.
