How much do I have to save in Saxon Switzerland, in Bielefeld or in Wismar in order to maintain my standard of living in old age? An interactive map provides information.
That the cost of living in Germany are different in height is nothing new. For example, an apartment in Munich costs significantly more than in rural areas. Not surprisingly, the legal Interest not enough for many people to maintain their standard of living in old age.
What most people don’t know: For this reason, Germans in each region have to set aside different amounts for old age. A new study by the economic research company Prognos on behalf of the German Insurance Association (GDV) now shows how much.
This is how much you should have saved in your county
The researchers assume that a so-called income replacement rate of 55 percent is necessary in order to maintain his standard of living. This is the percentage of your last income before you retire.
In order to achieve this quota, you have to make private provision in addition to the statutory pension, according to the researchers. On this map you can see the necessary savings amounts in the 401 rural districts and cities in Germany:
The scientists have also broken down the so-called savings burden quota in the individual regions. This indicates what percentage of the monthly income for the private retirement provision become necessary.
Results are only indicative
But be careful: The results can be compared with one another in the present form. You cannot use them to draw direct conclusions about your own individual circumstances. The data are only indicative of the amounts you should save.
The reason: Prognos has calculated the savings amounts and the savings rate on the basis of a model person. This is an average earner who was born in 1980, started his professional life at the age of 20 and six years later started putting money aside for private retirement provision.
According to the study, he will retire in 2047 at the age of 67. Prognos also took into account the time of death – after retirement, the model person still has 22.8 years until death. So he will be almost 90 years old.
Easily make provisions for old age with the ETF savings plan
It also depends on how you invest the amounts saved. For example, you can invest your own money and make provisions for old age. With a savings plan in an index fund, you can already invest amounts from 25 euros per month – with a long investment horizon of 10 or 20 years, you can expect high returns.
With an index fund, ETF called, a computer algorithm forms one Stock index like the Dax. You invest in all companies in this index – and spread your risk widely. In addition, the costs with an ETF savings plan are significantly lower than with one Private pension insurance deposit.