Pension plan for the self

Many factors have an impact on retirement later in life. Financial provision in retirement. Entrepreneurs in particular should think about their financial situation in old age at an early stage. Draw up a strategic pension roadmap for yourself. We show how the self-employed or. Entrepreneurs planning wisely for your financial independence in retirement. Make the right decision in your retirement planning.

The infographic "Pension roadmap for self-employed" informed about the seven important stages on the path to smart retirement planning. Short descriptions of the respective stations can be found at the end of the infographic.

Pension plan for the self

Infographic:"Retirement planning for the self-employed: Pension roadmap" Download infographic Feel free to use this infographic on your website. Hints for the use of our infographics.

Station 1: Make retirement planning a top priority!

Important tasks you should take into your own hands. Therefore, make your financial independence in old age a top priority. Provide the coordinates for your pension roadmap. An independent and experienced retirement planner can support you in this as a coach.

Station 2: Covering existential risks

Many entrepreneurs like to invest their money in their own business. Regardless of whether you use spare financial resources to increase the value of your company or prefer to invest the money in the capital market for your own retirement, there must be money available for investment or savings. For many self-employed people, good profits will only be possible in the long term if risks (illness, death, occupational disability and incapacity to work) can be covered to secure income and the company's existence (liability, financial losses, etc.).) do not threaten. Therefore, an important principle of retirement planning is: First cover existential risks and then provide for old age.

Station 3: Set retirement income target

How much money will you need in old age? What are your retirement living requirements and what ongoing expenses for hobbies, leisure, and daily living should you anticipate? Only when these questions have been answered can you determine your personal pension target. Calculate your financial needs in retirement according to today's purchasing power. When projecting, take into account the devaluation of money due to inflation.

Station 4: Calculate retirement income

This stage requires you to take stock of the situation: which pension components (Rürup, real estate, pension commitments, etc.) are best suited to your needs?.) already exist and what retirement income you can expect after deducting health insurance, social security contributions and tax payments? The sum of the net income results in the retirement income. You now know how much money you need in old age. What retirement income you expect to have available to you. Often money is missing: the pension gap. A good retirement planner will show you the total gap based on your life expectancy and detail any missing gaps. This is how it should be: Assets are built up during employment. At retirement age, these assets are available for financial provision through capital consumption. In order to know whether the assets are sustainably sufficient to close the pension gap, you should check your current asset situation and extrapolate all assets to the time when you start retirement.

Station 7: Closing the pension gap

You know your pension target, the expected net retirement income, the pension gap and your asset situation at the start of retirement. Now check whether the gap can be closed from the existing assets over the entire retirement phase. If this is not the case, with the same planning you will have to invest additional pension capital via capital market or. Build retirement products or/and improve their retirement income in old age.

Corner pensioner or standard pensioner simply explained! Insurance for seniors: Which ones do you need? Real estate as an investment: Is it always a good decision?? What does the value of a share depend on?? Private pension insurance: lifetime annuity or lump-sum payment?

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