Mandatory retirement for self-employed also applies to self-employed: the fall in the standard of living or even old-age poverty are repressed phenomena, which become a tragic reality for more and more people. There is acute need for action. Because only a quarter of the approximately 4.5 million self-employed persons in Germany is protected by the professional provident or compulsorily on the statutory pension insurance, whereas the vast majority must provide private. But the appeal to the responsibility often unheard fizzles out or is underestimated. While many self-employed and freelancers of the risks of self-employment are well aware. Not about very many of them have private health insurance and disability insurance.
The urgency and necessity of a sustainable private effort to be lost appears many retirement however. This is one surprising insofar as the necessary capital to build adequate contingencies occurring retirement to secure standards of living and all of may in addition would be present. The reasons for this worrying development are manifold. So self neglect their private pension plans often due to the strong temporal and emotional involvement in your company, so that decisions regarding the personal interests are often deemed to be subordinated or pushed on the backburner. Also many self-employed and freelancers of the deceptive hope indulge in, that they can expect a sufficient retirement due to their assets in the future. However, a few factors there are, which are often not taken into account or neglected.
So the development of purchasing power can validate future asset, as well the increasing average life expectancy may mean the consumption of total retirement assets before the actual demise. And of course also the worst case scenario can occur: the Insolvency of the own company. But also a quite pragmatic reason plays an essential role. Since many self-employed can have no fixed monthly income but this vary depending on the operating profit, a fixed recurring costs block a burden is felt.