Greetings, fellow (German) Mustachians,
Does anybody have an idea how to factor in the "must-pay" part (or more its "if you keep doing this until the age of 67, youŽll get X per month" part) of the German state-controlled retirement pension system into your personal net worth?
Am currently 33, and do not plan to work until an age of 67 (or 75, or whatever they will require us to work before we are allowed to benefit from the system). So, I assume for the pension claims to have any "net worth", there would have to be a way to withdraw them before reaching that age. Are there any ways?
Even if there are not, I figure it would still have some money stream towards my retirement plan (although I would not benefot for another 40 or so years), hence reducing the need to save a certain amount of money...
So, does anybody have an idea how to calculate that?
Thanks and cheers,
Rafaello