How to save for retirement

For many people, retirement is a goal that doesn't seem too far away. However, if you are already approaching retirement or are still in your younger years, it is never too early or too late to start making financial provision. 

Start early and set a plan

The early bird catches the worm, or in other words, the earlier you start saving, the better. It is helpful to develop a plan and implement it consistently. As a rule, you should save around 15 to 20 percent of your gross income in order to be in a good financial position in old age.

Set your sights on a broadly diversified portfolio

It is not enough to simply put money in a savings account or invest in a single investment fund. Instead, you should focus on a diversified portfolio that consists of different asset classes. This includes, for example, shares, bonds, real estate and commodities.

Use tax-advantaged savings vehicles

There are various ways to save for retirement with tax benefits, such as company pension schemes or private pension insurance.

Keep track of your expenses

It is important to monitor your spending and avoid unnecessary consumption. Budget apps or a budget books can help. If you are more aware of your money, you will end up with more money left over for retirement.

Track your progress

Make sure you keep track of your progress and regularly check that you are on track. This includes adjusting your savings goals as your financial situation changes.

Seek professional support

It can be helpful to seek financial advice. You can get tips and tricks from an expert on how to optimise your financial provision.



In summary, it is important to start planning early and to implement a consistent plan. In doing so, you should rely on a broadly diversified portfolio, use tax-advantaged forms of savings, keep an eye on your expenses and regularly review your progress. If you don't want to go it alone or don't know exactly which steps are right for you, financial advice can help.