Vacation is more important than retirement savings – why to consumers with the forward-looking planning are overwhelmed

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To not include the savings muffles the Germans are known to. The savings rate is the highest. However, the motives of saving are apparently rather short-term nature.

Urlaub ist wichtiger als Altersvorsorge – warum Verbraucher mit der vorausschauenden Planung überfordert sind

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A recent survey by the market research Institute Forsa, the majority of Germans save for your next vacation as for your private pension. “Many consumers only think about the present and deal only reluctantly, or not at all with time in the age,” says Professor Dr. Rolf Tilmes, Chairman of the Board of the Financial Planning Standards Board Deutschland e. V. (FPSB Deutschland). “That may backfire. As for the worry-free retirement, there needs to be a timely and holistic financial planning.“ With professional financial planners of the FPSB Germany’s certified FINANCIAL PLANNER® (CFP®certificate carrier) are a consumer on the safe side.


German are put before the choice, either for holidays or retirement money, to decide, according to the Forsa survey commissioned by Union Investment, 57% for holidays and only 36 percent for old-age provision. The result of the study shows also the great importance of the holiday at all. Almost a third would also draw on other savings or financial reserves, not to the whole of the holiday without.


According to the Forsa German households for all the holiday trips in the past year, on average, 4.307 Euro spent. Many pay for their trip with money they have put specially aside. This means that Although it is actually, each now aware of should be that the statutory retirement age is not sufficient, it will be saved still prefer for the next holiday.


“Such a commitment, and saving will show, however, unfortunately, the Least, when it comes to the topic of pension provision,” says Prof. Tilmes, who is also the Scientific Director of the PFI Private Finance Institute / EBS Finance Academy of the EBS Business School, Oestrich-Winkel. But this ignorance can avenge evil. Because the pension reaches the age, there is the danger that not enough money is available to the well-deserved retirement to really enjoy.


Although many employed the risk of the supply gap is known, deal often until relatively late in their specific financial situation in old age. It is in the current low interest rate environment is extremely important to start Saving early and higher-yielding forms of investment to choose. The sooner money is for retirement savings, the better. Because the time and the compounding effect work for the consumer.


“It’s not about that consumer to waive the well-deserved vacation,” says Prof. Tilmes. However, savers should not lose their own retirement. With the help of a personal financial planning professional can achieve the goal, in the long term to build wealth, and secure. “And who sets herself apart early on, it can clearly look more relaxed in the future.”


Professional assistance is advisable

Tilmes therefore strongly recommends that the subject of financial and asset planning as soon as possible, and to seek the help of qualified financial professionals. The CFP®certificate makers don’t want to achieve for your clients only short-term profits, but long-term wealth accumulation and financial security to the life night planning and organizational support. All the important questions and challenges around the topic of retirement can be with the help of a professional financial planner from FPSB Germany certified CERTIFIED FINANCIAL PLANNER® (CFP®), detected early and solved.


With the help of a comprehensive analysis of the current financial situation, attitude to Risk and a liquidity statement the CFP®Certificate holder solution approaches that investors on this development and his own retirement prepare. Inflationary developments in different States of expression can be mapped to degrees and their impact on the asset situation of the investor to simulate.

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