House purchase and house construction - What can we afford

  • Erstellt am 2023-10-02 11:08:17

Grundaus

2023-12-05 10:49:29
  • #1
Retirement is only possible from 63 onwards, and that with deductions of up to 14.4% and 8 missing pension points. Not everyone can and wants to afford that. Those who have a chance at 45 contribution years definitely work until 65. Even in the case of severance payments due to significant personnel reductions, younger employees are preferred because after 30 plus years, no one can afford the severance anymore. Partial retirement is the only thing offered on a large scale, with up to 90% of the salary.
 

Almoedi

2023-12-05 11:24:00
  • #2
I already had the salary at the "Wald und Wiesen" employer before – my increase is now from > 90k to > 100k€ (which was not the reason for the change, but other factors) and I see myself with the salary rather in the average of my industry/profession – if you go to the "big" players, significantly more is possible (but I did not primarily optimize for salary, but for interesting work/reasonable working hours) – friends & acquaintances add another 20-30% on top for me.

There is practically no junior staff on the market – because they are immediately poached by the big players with "more salary" and the necessary degree programs are also rather on the demanding side (and also not so 'sexy'). If the employers go bankrupt, then 2008 will seem like a mild breeze to all of us.

At my current employer, there was a severance round a few years ago (the background was that they wanted to externalize more) – the bottom line was: they will never do that again. The young ones took the money and moved on, those who were "invited to leave" are still sitting in their positions.
 

ypg

2023-12-05 13:17:59
  • #3
That is also not correct. For example, my husband's position was mothballed or is being handled from Turkey or China (car industry, "renowned ;)" ) And for about +-10 years now, the positions that were refilled have been filled for roughly half the salary. This also affected the banking industry...
 

Haus123

2023-12-05 15:55:04
  • #4


No envy, I myself work at one of these companies and know both the banking sector and the automotive industry from the inside. Therefore, I also know that for the salary you can get as a simple clerk at a Landesbank or at the car manufacturer, you have to be a department head at the Sparkasse or at a small supplier. But then there’s nothing like 4 days of home office, let alone working time recording or overtime pay. Anyone who seriously believes that 4-5k net for regular hours and 35-40h mostly home office is common in Germany has lost touch with reality. Yes, that exists and in economically strong regions (basically Munich, Frankfurt, Stuttgart) it’s not even that rare. But that is a small bubble, nothing more. And when one of the big ones gradually shuts down the operation (what has actually become of Hoechst, Opel, ThyssenKrupp, various Landesbanken, etc.?), nobody waits for the forty-something corporate bureaucrat who spent 20 years using political tricks to keep work away from himself. As an employer who hires, I wouldn’t touch them with a pair of tweezers; unfortunately, the work ethic and attitude are very poor for many. Yes, it doesn’t have to come to that and hopefully it won’t. But it’s worth giving a thought to the fact that things can go downhill and you won’t stay as flexible forever as you are in your early 30s. Then you also have to be mentally and financially prepared to make do with the salary of an average earner (that’s then 2-3k net, not 4-5).

And no, people well over 60 are the exception both in banking and in the automotive sector. Usually, people retire / take partial retirement at around 60 because a) they can afford it, b) they no longer really can / want to, and c) the employer incentivizes early exit via partial retirement, etc. Yes, the pension then has deductions, but there is also unemployment benefit and reserves (severance pay, savings, etc.) to live on (private income). It doesn’t matter whether it’s Daimler or Commerzbank. Sooner or later everyone is out / lets themselves go.

It’s also clear that preferences shift over time and the air gets thinner the higher you get. Maybe it’s not even the employer who no longer wants you. Maybe you want to reorient yourself and that then only goes at worse conditions. Anyone who commits to a high rate (without the corresponding equity in the background) is quickly unnecessarily trapped in a golden cage and hamster wheel.

If you’re a tenured judge who’s found your dream job – by all means. But if you work in the private sector, you always have to factor in professional setbacks.
 

Buchsbaum

2023-12-05 16:00:19
  • #5
Our universally beloved Federal Chancellor Olaf Scholz speaks of a turning point. I fully agree with that. The real turning point we are currently seeing is in the deindustrialization of Germany.

Nothing is certain anymore. Whether the state even has money available to keep companies afloat with billions is, from my humble perspective, very uncertain. It was unimaginable that a Siemens subsidiary would have to be saved with state aid. More will follow.

Severance payments are always a voluntary benefit from the employer. There is no legal entitlement to them. So, that's that. The once proud German automotive industry is on the highway to hell.

Unfortunately, I cannot see a turnaround. We will probably have to accept a massive loss of prosperity as well as images we actually do not want to see. Poverty and misery in Germany.

You are welcome to remember my saying about floor-to-ceiling windows.
 

mayglow

2023-12-05 17:28:18
  • #6

However, the thread starter also has other assets (e.g. the condominium). Of course, it is desirable to have a low rate and to remain liquid. But expecting that the job will be gone tomorrow, the employer bankrupt, and there will be absolutely no alternative found, I find that exaggerated. And what will happen in 20 years, when the starter is over 50 and perhaps cannot find an equally paid job... well, then that’s just how it is. Maybe they won't want the million-euro place anymore anyway. Or it is already three-quarters paid off and they can THEN reduce the rate and extend the term....

Don’t get me wrong, I do find the objection "don’t take on too high a rate, that keeps you flexible" quite valid. But some calculations here seem rather dystopian to me.
 

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