In this lifespan, women have ten to 15 years before they retire. Those who have not saved up to now will find it a little harder to put some money aside. What else is paying off?
Above all, you want to slowly step backwards. “A balance between enjoying and saving is important. One should calmly consider which expenses bring the most joy. For some it is travel, for others luxury food, for another culture,”says financial expert Larissa Kravitz. In this area, you can specifically treat yourself to the best. “On the other hand, it is important to remain disciplined in order to secure coverage.” Kravitz is convinced that the acquisition of residential property is very important for the pension. “At 50, you still have the option, because rising rents are an enormous driver of poverty in old age,” advises Kravitz. If you own a property that has not yet been paid off, it is essential to allow available assets to flow into the repayment of the mortgage, because nothing pays off better than avoiding debt interest, even if this is currently at the lowest level.
Real estate is worth gold. Perhaps after the children moved out, the home has grown too big and they are considering renting out. Does it pay off? That depends on the property, the location, the price, the condition, the achievable rent and the local housing market. So check carefully. It is essential to also consider the effort: Because for every apartment you have to draw up utility bills, carry out repairs, manage tenant changes. If you don't want to commission this to an administration (costs around five percent of the income), you may spend many hours doing it. And there is no guarantee that even the most attractive apartment will not be empty for a few months or that a major repair will not consume several years of income.