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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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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…
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The infamous SCHUFA report in Germany: How to apply for it and what it says
What is the SCHUFA and why all the fuss about the SCHUFA report? SCHUFA Holding AG (proper name SCHUFA, formerly SCHUFA e. V. Schutzgemeinschaft für allgemeine Kreditsicherung) is a private German credit agency in the legal form of a stock corporation with its registered office in Wiesbaden. Its business purpose is to provide its contractual…
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Which are the best free credit cards for expats in Germany?
Most of my blog articles are written in reaction to what I experienced in the last weeks. So this one. I have newly received a letter from my bank, stating that I will have to pay a fee of several euro per month if I wanted to keep the VISA credid card I got from…
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Is Jobrad (or any other company bike leasing) really worth it in 2022?
Jobrad, German for “company bike”, is the ecological counterpart to the company car and is becoming increasingly popular as an alternative or addition to a private or company car. Especially in big cities, the company bike is often a good alternative to the car, avoiding traffic jams and parking shortages. In addition, those who ride…