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retirement savings in Germany, how much do I need? (feddit.org)

submitted 6 days ago* (last edited 6 days ago) by schneewiese@feddit.org to c/asklemmy@lemmy.ml

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I say 'in Germany' because there's where I reside, a welfare state.

We don't have 401K here, but public retirement systems, mandatory.

My employer also matches what I put in a small state pension system up to 50 euros. Not really much, better than nothing.

What number do I have to reach for a decent retirement? Retirement age: 67 years old.

Is it enough to save or do I have to invest?

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[–] chobeat@lemmy.ml 1 points 6 days ago

Also consider the form of these savings. Keeping everything in financial assets might be very dangerous on the very long term. The chances of a world war and/or a financial collapse of the West are relatively high and you don't want a hyperinflation crisis to destroy all your savings. It happened in Germany, it is happening again in some parts of the world, it will happen again.