Category: Banking & Finance
Keywords: how much money should i have saved by 25
Deutsche Bank estimates that at least 70 percent of the last working net income should be achieved in old age. To get closer to this amount, you need to start saving as soon as possible. If a 20-year-old had completed a private pension insurance with ten-year pension coverage and would like to receive an additional pension of 100 euros, he would have already saved 16.20 euros per month. If he wants to receive an additional pension of 1000 euros per month, he will have to save 144.23 euros. In comparison, a 50-year-old man would spend 7 years 767 euros every month for 17 years to receive this additional pension.