Construction costs are currently skyrocketing

Where I live, there is no state pension in the form commonly found in DE. The employer pays 10% into a superannuation fund, and one can also contribute personally. The value depends on the stock market but is not a major problem. Assuming the contributions are not enough for the minimum, the taxpayer covers the shortfall. There are small business owners who themselves do not contribute to the superannuation; they then live off this "state pension." This works if one does not have to pay rent.

For us personally, homeownership is retirement provision in case we have to go to a nursing home, which is expensive here. We have no family members in AUS.

I am currently experiencing the situation in the private sector in England, which is also often found in AUS. Retirees from 65 up to 80+ elderly women are selling their properties, 400-600m2 of living space on larger plots, because they lack the necessary monthly income. In some houses, nothing has been renewed or repaired for many years because of lack of funds. And now, where inflation is squeezing the last euro, pound, or dollar out of your pocket, they are leaving. It is also possible that this is happening under pressure from the descendants because they too are finding everyday life tougher due to living costs.

The employer pays 10% into a superannuation fund, and you can also contribute yourself. The value depends on the stock market, but it is not a big problem.

Greetings to "down under" - The "super" brought me a nice base sum after 3 years in Sydney when I returned to DE :-)

Otherwise, I agree with you there. However, the whole structure there is really not comparable to Germany.

I know that without regular work I become depressed, so I will continue working. Whether in the old job or something completely different, I don't know. Certainly not 60, 50, or 40 hours a week, but I have to do something.
When I can no longer work, I will sell everything and blow my fortune. The goal is to end up at zero with funeral expenses exactly at death. Let's see how to manage that. Maybe in 40 years there will be a package deal with a special price.

You can always get involved as a volunteer if money no longer matters. I would probably do that instead.

Yeah, my dad helped students for a while with internships and applications who don’t get this support at home.

Am I the only one who finds it legitimate to just live out a property when retiring? If the roof leaks, you can patch it up. Yes, that’s how renovation backlog builds up, but who cares anymore? It just has to hold until day x, and after that, you can stop worrying about it.

You can do it that way, but it can also end badly. As a negative example, I like to take my father, who has been practicing this for years. Four years ago, he had the offer to be connected to the local heating network. Then a neighbor of the same age talked him out of it with the words: "The provider just wants to lure us with cheap prices, and when the price guarantee expires in ten years, they’ll rip us off." Last year, his oil heating broke down, costing nearly 2,000 euros to repair. There is a leaking water pipe in the upstairs bathroom that he doesn’t have repaired because he can just use the shower in the basement. The toilet upstairs constantly clogs; the pipe should be checked and at least cleaned. Let’s see how long it will hold. Some of the windows are still original from 1972 and have warped so much that after opening, he can no longer close them, so he just leaves them shut. Replacement is too expensive because he bought 3,000 euros worth of heating oil a few weeks ago. He doesn’t have the heating system serviced because he wants to save the money... When I ask him if he needs help or support, the answer is: "No, I’m managing great and have everything under control. But can you take a look at my PC? It’s been broken since last week, and I don’t have money for a new one at the moment..."

Based on the discussion, one can recognize the different ways of thinking on the way to retirement or during retirement. It would be interesting if the age of the person were listed behind the contributions. At 40, one may have a different life plan than at 50 or already 60. I also enjoyed going to work, but my perspective has changed with increasing age. I wish everyone to be satisfied in old age and to have found the right way of life for themselves. This also includes clarifying financial circumstances. Rent or loan repayment would already consume part of the pension. My wife and I built again at over 60. Today we live in a new 90 sqm bungalow (KfW efficiency house 55EE). In addition, a heat pump and a 13.68 kWp photovoltaic system and excellent insulation. Our future costs for electricity and heating will be zero thanks to the feed-in tariff. Maintenance or renovation will remain foreign words for years. The garden was laid out with an irrigation system and a robotic lawn mower. Since 2018, we have had a new large motorhome and often go on trips. Thanks to 2 children and 2 grandchildren as well as friends, we do not know boredom. We have no liabilities and still have sufficient cash in the account. Now we just have to stay reasonably healthy. We are satisfied.