Warning Of The Riester Pension – State-sponsored Retirement Provision

Bestselling author Markus Frick eight years after the introduction of the Riester pension more than 13 million people have completed a contract for the State-sponsored retirement provision. As the marched announced in Berlin on Friday, the number of policies increased 2009 well 1.1 million on 13.253.000. 362.000 new contracts are added in the last quarter alone. The Riester pension are there in Germany since early 2002. Who invests part of his income in the construction of an additional private pension, receives allowances from the State. Their amount depends on the amount of equity contributions. I can only advise that you complete a Riester-rente never. Not worth it the Riester pension, because the banks and insurance companies are the only ones that earn.

The insurance must guarantee you only the paid-up capital. If you pay a 1,000 euro for 40 years you have so accumulate a capital of 40,000 euros. In those 40 years, the insurer or the Bank at 4.5% interest has collected about 72,000 euros in interest revenue. So approximately 1.8 times your Deposits without risk generated only by your interest-free capital. In 40 years, however, your money’s worth no more than half.

So, a bad deal for you. This construct is a multi-billion dollar redistribution of deposits by the insured for the benefit of the insurance companies and banks. Should you have a Riester pension, then I’d quit as soon as possible these. Markus Frick so I came to money \”I have experienced times with money. And I have experienced times without money. \”And I know: money lives significantly better.\” Markus Frick knows both sides of life, the austere, simple as well as the fun-loving, colorful. He comes from a small town in the Kraichgau, his parents run a bakery. Already as a young boy, he met the value of money, as he gathered the boxes before the supermarkets for a dime and was cleaning the baking trays in the parental bakery for little money.