Financial Coaching for Expats in Germany
Financial Guidance, Support, and Security
Are you an individual or family seeking financial guidance and support, who values unbiased advice and a holistic approach to their financial well-being. Do you appreciate the expertise of an independent financial coach and are you committed to improving your financial health and securing a prosperous future.
Know your number?!
It's time to plan for the future and take actionable steps,
and I'm here to guide you through this process.
- Do you know how much you spend on a monthly or annual basis?
- Have you determined the precise amount you need for a comfortable retirement?
- Do you know the monthly funds required to sustain your desired lifestyle?
- Are you struggling with financial disorganization?
- Seeking to boost your financial confidence but unsure of the path forward?
- Does the thought of money induce feelings of guilt, anxiety, stress, or fear?
Key Statistics
Clients seeking unbiased, holistic advice require a unique financial coaching approach that transcends standard advice. These clients need personalized strategies tailored to their complex financial situations and life goals. Standard advice might not fully address their unique concerns like planning for children’s education or supporting aging parents. As a financial coach, I provide comprehensive, tailored advice and ongoing support, helping them navigate their financial challenges and secure a prosperous future.
- National Institute on Retirement Security (NIRS): In a 2020 report, the NIRS found that the median retirement account balance for working-age Americans (32-64 years old) was $0, indicating a significant gap in retirement savings.
- Employee Benefit Research Institute (EBRI): According to a 2021 EBRI survey, about 40% of U.S. households are at risk of running out of money in retirement. The study also found that many individuals have inadequate retirement savings to cover their expenses during retirement.
- Social Security Administration: The average monthly Social Security retirement benefit in January 2021 was $1,543, which highlights the importance of supplementing Social Security income with personal savings for a comfortable retirement.
- German Federal Ministry of Finance: A study conducted by the ministry found that approximately 60% of Germans may face a significant gap between their desired retirement income and the income provided by statutory pensions.
- Deutsche Rentenversicherung (German Pension Insurance Agency): In 2019, the median gross pension for new retirees in Germany was approximately €1,350 per month. However, this can vary significantly depending on the individual’s work history, income, and contribution period.
- UK’s Office for National Statistics (ONS): A report in 2020 noted that around 45% of private sector UK employees aged 25-54 had no private pension scheme, emphasizing the importance of retirement planning.
- Pensions Policy Institute (UK): The PPI’s 2021 report mentions that 46% of people approaching retirement (aged 55-64) in the UK have total pension wealth of less than £100,000, potentially leading to a retirement savings gap.
- Association of Superannuation Funds of Australia (ASFA): The ASFA highlights that the average Australian couple will need an annual income of AUD 62,562 for a comfortable retirement, yet the average superannuation balance at retirement in 2018-19 was AUD 282,600 for men and AUD 157,050 for women, indicating a potential shortfall.
- Australian Prudential Regulation Authority (APRA): As per APRA’s quarterly statistics in 2021, only around 50% of Australians make voluntary contributions to their superannuation, indicating that a substantial proportion of the population may face a retirement savings gap.