Financial needs after retirement depend on various factors and are therefore extremely individual. The largest cost items are:
Living and household expenses: A property that has been paid off to a large extent usually ensures lower housing costs than with a rented apartment, and the property can often be sold at a profit.
Health and insurance costs: With increasing age, insurance and health care costs rise. The extent of the rise in costs is often difficult to estimate, but should nevertheless be taken into account in pension planning.
Mobility and leisure: Some enjoy their retirement in their own garden, others want to see the world and go on expensive trips. The mobility and leisure costs of being a pensioner depend heavily on how you want to spend your time.
Inheritance issues also play a role when it comes to financial need. Those who want to bequeath something to any descendants are more dependent on income than those who can use up their assets.
Due to the various factors involved, we advise you to start planning your pension with the help of experts at an early stage.