2023 Author: Gabrielle Mercer | [email protected]. Last modified: 2023-05-21 12:25
That too? How do you manage to invest money on the side at an age when many already have families and are paying off a loan for building a house or a condominium?
It often fails not only because of the low finances, as financial expert Larissa Kravitz knows: “Many believe that they simply don't have the time to deal with future provision. But excuses like: 'I'll think about it when the children are out of the woods and I go back to work part-time' are unfortunately bad greatest risks. That is why the expert considers term life insurance to be indispensable. This relatively cheap possibility of protection occurs in the event of the death of one of the partners and should cover at least five of his annual income. Endowment life insurance does not make sense. This once classic old-age provision suffers too much from the current low interest rates. Since insurance companies book relatively high costs on the contracts, they are simply no longer worthwhile.
Create collateral. Larissa Kravitz sums up her investment tips: “The nest egg is of course also important at this age. The equivalent of three to six months of living costs parked in a savings account can really only be used for health emergencies, unexpected repairs or unemployment.”If you already have a loan, it is essential to check the interest rate situation on the market. If interest rates have fallen sharply, the mortgage can be refinanced. So you can save tens of thousands of euros over the term. With your mid-30s you could also rely on a more diversified portfolio: In addition to your own property, these would be share ETF savings plans and a share of gold."