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Emergency fund for pensioners: This is how much you should have saved
Pensioners should also always have an emergency fund on hand. You can find out how high this should be here.
Poverty in old age is a sad reality for many pensioners in Germany. The statutory old-age pension is often not enough to live on in old age - even though many have worked all their lives.
Some pensioners earn money in addition to their salariessomething else about it. Others can live on their pension or have savings to fall back on.
Nevertheless, it is also important for pensioners to have financial reserves. But how high should one be?be?
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During retirement: This is how high your nest egg should be
The amount of the emergency fund depends on the individual life situation.There is no generally valid amount.If you live in rent, it is important that your emergency fund is large enough to be able to pay the rent in an emergency.
If you live in your own house or apartment, you don't have to pay rent, but unforeseen expenses can still arise, for example if something breaks in the house and you have to have it repaired. Of course, smaller expenses can also arise, for example if the washing machine breaks down or the refrigerator needs to be replaced.
The emergency fund should be able to bridge two to three months
In general, the emergency fund should be large enough so that you have enough money in your pension for two to three months to cover your necessary rent or food costs.
So if you have a mini-job, three months' salary is a good starting point. Provided you can cover the necessary costs with your statutory pension. Not only are you entitled to the monthly payment from the pension fund, you can also rely on it.
It is important to think about how high your monthly expenses are and what costs you might incur. This gives you a good overview of how much money you will need in an emergency. If you can't get there with your old-age pension, you should save more than three months' salary to be on the safe side.
In cash or in the account: Where do I save my emergency fund?
The emergency fund is money that must be available quickly and should not be invested in a fixed amount. It is therefore best to save your emergency fund in a current account.
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While the current account is used for everyday expenses, the current account is ideal for financial reserves. In addition, since the ECB's key interest rate increases, many banks have again started offering interest on money in current accounts.
Still, it doesn't hurt to have a little cash at home. However, more than 500 euros per household hardly seems necessary. If you do need more cash, an ATM is usually not far away. In addition, having a large amount of cash in your own home is associated with an increased security risk, especially with regard to burglars.
