Retirement savings for EU national working in France
Retirement savings for EU national working in France
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Nils Megan · External communityPost link
External question — Personal Finance Stack Exchange
Author: Nils Megan
Original post: https://money.stackexchange.com/questions/152907
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
Adaptation: HTML converted to plain text; contact email addresses removed.
As a 26-year-old EU national (German) working in France I'm faced with the question to save some money (100-150€ per month) for retirement as a second pillar. My bank HSBC offers a "Life Insurance Wrapper". They say it is the favorite investment of the french in this regard. In their brochure, they detail the tax advantages, the various investment models, loss protection, etc.
In Germany life insurance-based retirement plans were a huge business but got out of favor because of high costs and low returns. Also getting out is hard and often means additional losses. So more and more people in Germany invest in plain vanilla ETFs like the ones based on MSCI World.
Here are my questions:
Is it true that investment products like the one from HSBC are #1 among the french?
Should I leave France is there a way to get the money invested so far back w/o substantial loss?
Is there a movement in France towards simpler means to build up capital for retirement like the ETF saving plans offered by many online brokers?
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Quoted from Forex.com.bd-Editorial External question — Personal Finance Stack Exchange Author: Nils Megan Source score (net votes, not local likes): 2 Original post: https://money.stackexchange.com/questions/152907 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. As a 26-year-old EU national (German) working in France I'm faced with the question to save some money (100-150€ per month) for retirement as a second pillar. My bank HSBC offers a "Life Insurance Wrapper". They say it is the favorite investment of the french in this regard. In their brochure, they detail the tax advantages, the various investment models, loss protection, etc. In Germany life insurance-based retirement plans were a huge business but got out of favor because of high costs and low returns. Also getting out is hard and often means additional losses. So more and more people in Germany invest in plain vanilla ETFs like the ones based on MSCI World. Here are my questions: Is it true that investment products like the one from HSBC are #1 among the french? Should I leave France is there a way to get the money invested so far back w/o substantial loss? Is there a movement in France towards simpler means to build up capital for retirement like the ETF saving plans offered by many online brokers?
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