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How to obtain German citizenship
Once you live in Germany, you may start thinking about getting German citizenship. There are several ways to obtain German citizenship, depending on your personal circumstances. This process is called “Einbürgerung”. Here are some common paths to German citizenship: The specific requirements and procedures for obtaining German citizenship can vary depending on your individual circumstances,…
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Great news: 2 percent interest at Trade Republic
Trade Republic is currently informing its customers that it pays 2 percent interest p.a. on credit balances. This is not only aimed at existing customers, but also at new customers. According to the statements of the neobroker, the interest payment is made monthly and logically refers only to the uninvested balance. Trade Republic writes that…
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High inflation in Germany in 2022 – Is real estate the best solution?
Inflation in Germany in October was around 10% year-on-year. In the USA, it fell to around 8%, following a high of 9.1% in June. And if you look at individual commodity stocks, it looks like the high inflation rates won’t change anytime soon. The question for us investors now is: How to act? What can…
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Retirement provision in Germany – This is how you can provide for old-age with the 3-pillar model
Until a few years ago, the statutory pension insurance was considered the most important provision for old age. Since there are more and more seniors in Germany, but fewer and fewer working people who pay contributions into the pension, the benefits from the statutory pension had to be gradually reduced. As a result, the statutory…
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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…