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The statutory pension insurance in Germany
The statutory pension insurance (“gesetzliche Rentenversicherung”, GRV), which is regulated in the Social Code (SGB VI), protects its insured persons in case of endangerment or reduction of earning capacity, in old age as well as in case of death their survivors. There are different pension types: old-age pension pension for reduced earning capacity pensions due…
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The 5 pillars of social security in Germany
Social security in Germany consists of statutory compulsory insurances for the majority of the population against losses that endanger the social livelihood of the insurance members and the insured community. The solidarity community is based on the principle of solidarity as opposed to voluntary individual insurance. As part of the Germany’s social policy, its goal…
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Statutory health insurance 2022: why should you compare them and choose the best fit?
Everyone should have statutory health insurance (“gesetzliche Krankenversicherung”, GKV) and is usually required to by law – at least in Germany. But what if you could save up to several hundred euro every year in just a few steps? Everyone who has statutory health insurance can change their health insurance company every twelve months. You…
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My best advice #7: Keep it simple and straighforward
You may have already heard of the acronym KISS: Keep it simple and straighforward – or keep is simple stupid. It follows the concept that you should not complicate something, when there is a simple way to achieve your goal. It is similar to the concept of Ockham’s razor: when trying to understand something, getting…
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How trustworthy is the Trade Republic App in Germany?
What is the Trade Republic App? The Trade Republic App is a low-cost broker that allows you to trade and hold securities such as stocks or ETFs. If you can imagine managing your securities account exclusively on your cell phone, you will get an easy-to-use app here. The Trade Republic app for iOS and Android…
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Becoming financially independent as an expat in Germany in an easy way in 2022
As an expat in Germany, you may have chosen to move here for the long-term. Maybe you have a partner who is from there and you want to build a life together somewhere else, or perhaps you simply love German culture and want to experience it in person. Whatever your reasons, uprooting yourself and moving…
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Improve your SCHUFA score: 8 tips easy to follow
In this last article I spoke about the SCHUFA report and the SCHUFA score. Checking it regularly – once a year at best – is one thing, but keeping it as high as possible is much more important! Because practically every time you sign a contract, apply for a loan, open an account and in…