The importance of timely retirement planning

Retirement provision is a topic that is often put on the back burner. Many consumers neglect the topic and think that they still have enough time to take care of it. But, timely retirement planning is crucial to ensure financial freedom in retirement. A good plan is crucial.

People's life expectancy is steadily increasing, and so is the amount of time we spend in retirement. Early retirement exacerbates the problem of a long retirement. Without a good financial basis, retirement can quickly become a financial burden. That's why it's important to start saving for old age early in order to have enough time to build up assets.

The need for pension provision is underestimated

"More and more people are finding it difficult to maintain their standard of living in retirement. The combination of inflation, inadequate provision and a lack of assets is serious," says financial advisor André Perko. "All too often, a strategy or a sustainable pension plan is lacking," Perko continues.

The risk of being dependent on others in old age increases. If adequate provision has not been made, state support may have to step in, or financial support may have to be provided by children or other family members. This puts a strain on family relationships and their own independence suffers. "It is important to identify unadorned needs," says the Frankfurt-based financial consultancy FINANCEDOOR GmbH. "Setting the course in good time and planning your assets are important. The more time you have, the easier it is to achieve your goals."

There is also a risk of health problems and high medical costs arising in old age. Without sufficient financial resources, further difficulties could arise in covering these costs for necessary medical care.

Spoilt for choice: pension, private provision, company pension scheme

There are various options for providing for retirement age. In addition to the mandatory statutory pension, many other forms vie for the favor of pension savers. One widely used option is private pension provision. This involves investing voluntarily and independently in the form of insurance, investment funds, ETFs or other forms of investment. Many companies also offer employees a company pension plan. Here, the employer pays part of the salary into a special pension fund. "Our customers are often simply overwhelmed when it comes to assessing which pension instrument to choose," says André Perko. "With our retirement planning, we individually calculate the best possible form for our customers. The recommendation can vary greatly depending on the situation," continues the financial advisor.

How much should you save for retirement?

The question of how much you should save for retirement depends on various factors. These include your current income, expenses, the cost of living in retirement and your goals and wishes at that time.

As a rule of thumb, you should save around 10-15% of your net income for retirement. The earlier you start saving, the lower the percentage can be, as you will be saving over a longer period of time.

Retirement provision for women

Retirement provision can be a particular challenge for women. Women often have a different employment history due to child-rearing periods, a longer life expectancy and unfortunately there are still often differences in salary levels. The latest studies also show that women are often made less attractive offers. "We want to create absolute clarity here. Our mission is to create the best opportunities for women to save for old age through financial education. By setting up the financial advice service for women, we want to make an important contribution here, throughout Germany," emphasizes the Managing Director of Frankfurter Finanzberatung. "Our female financial advisors have already received several awards for this."

In general, however, regardless of gender, it is important to start saving for old age early and make regular contributions in order to build up sufficient assets for financial independence in old age.

FINANCEDOOR GmbH
Kiesstr. 38
60486 Frankfurt am Main
Germany

https://www.financedoor.de

Herr André Perko
06977039967

mail@financedoor.de

FINANCEDOOR GmbH from Frankfurt am Main offers financial advice for private households under the leadership of CEO André Perko. As an independent financial advisor, the portfolio ranges from pensions and insurance to professional investments. The financial planning and financial advice also includes private construction financing and retirement planning.

In the spirit of consumer protection, CEO André Perko sees himself as a partner at his clients' side. Financial brokerage and advice is provided independently, i.e. without any ties to specific banks or insurance companies: the company is registered as a fee-based financial investment advisor under §34 h GewO.

With over 23 years of experience in private financial advice, the company prepares financial reports and insurance checks. Customers appreciate this service. FINANCEDOOR GmbH can look back on over 1000 positive customer reviews from the past 23 years. A success based on many years of experience and expertise in financial advice.

This release was published on openPR.