mtbiking

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About mtbiking

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  • Location Munich
  • Nationality Portugal
  • Gender Male
  • Year of birth 1979

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  1. What made you laugh today?

      Cybertruck's first Roadkill!
  2. Moving to Munich!

    The average salary in Munich is around €4300/Month. With no extra source of income, a wife and a child you'll feel like a poor sod with that income in Munich though. With around €80,000-€90,000+ a year it may be worth it, if it's a good career step for you. At least you'll have enough income for a proper place and still be able to afford Holidays. Beyond that or if your wife also works you'll be more than fine.
  3. Non payment from house sale

    You do have it regulated in the notarized contract what happens in case of non-payment, don’t you? I sincerely hope the answer is affirmative. In the properties I purchased, the buyer (me) was required to pay a significant penalty in case of non compliance, and the seller as well (compliance in that case meaning failure to vacant the house when agreed). I can’t imagine signing something so critical otherwise.   so, what exactly does your contract say?
  4. How much is enough for retirement?

    only the most unlucky - bitched slapped by fortune- SOB would have dumped all his load in the Japanese stock market shortly before the big crash of 89. Much more likely he would have spent years investing and enjoying the ridiculous growth rates before the abrupt return to earth.   If you account for this, it still looks bad for the hypothetical Japanese investor (should really have diversified) but not nearly as bad.
  5. How much is enough for retirement?

    by the way, “trusted” and “fund manager” should almost never be used in the same phrase, the exception being “he can be trusted to get rich at your expense”.
  6. How much is enough for retirement?

    you see, there are so many ways to refute this crazy statement, that’s hardly worth the bother. But anyway: - a household with a net worth of “merely” €900,000 (including property) already belongs to the top 5% wealthiest in Germany. Source: Bundesbank https://www.bundesbank.de/resource/blob/794130/d523cb34074622e1b4cfa729f12a1276/mL/2019-04-vermoegensbefragung-data.pdf   - €10 Million invested would, at a measly 3% per year, generate a mere €25,000 income per month of passive income. In reality more. To define rich as only beyond this point is, well, crazy.  A fifth of this and a paid off home is enough for a family to live quite well and never have to work again in their lives, even in Munich. So even by a far more stringent definition of rich than the Bundesbank €2,000,000 in liquid assets is still plenty of rich in Germany.
  7. How much is enough for retirement?

    That’s crazy.
  8. What made you laugh today?

    Saw this today on my way to bring the kids to kindergarten, somehow found it brilliant.
  9. Riester Rente vs. other pension schemes

    I’ve done the math for fairriester some years ago, it looked and still looks like a turd, even though worse turds do exist. I recommend you do the same, as PandaMunich pointed out you can use their own numbers for the comparison with a low fee, whole market index fond.
  10. Riester Rente vs. other pension schemes

    There are several German online banks offering cheap depots for private investors with a wide variety of index fonds on offer. The cheapest and currently best classified by the Finanztest Zeitung is Onvista. 
  11. Riester Rente vs. other pension schemes

    Closing costs, management costs and a miserable investment strategy that minimizes risk at the expense of growth (imposed by the German government, which seems to have as singular goal that the productive citizens work as long as possible, rent all their lives and then die poor) means that after 30 years you’ll very probably have a lot less money than if you invest your €1625 in a low fee world index ETF (vanguard FTSE world or ishares MSCI world, for example), which you can sell at anytime besides and will also pay you dividends from day one, tax free up to €1600/year. You’re welcome.
  12. Me too, but as many times in the past I’ve just been though a ritual with them: quit the contract 3 months before the two years are due, call to confirm, get offered a new deal and happily accept. This time €205 in savings and free IP-TV on top. It really shouldn’t be necessary. They’re all the same or worse though.
  13. Parking slightly on sidewalk

      Is there a local supermarket or store close to you? With a board for private offers? That’s the first place to look. Otherwise, ImmoScout also allows you to search for garage places. But we found ours though the local supermarket.
  14. Parking slightly on sidewalk

      I park the second car in my private driveway (fenced), so I’m not occupying the public pavement. It doesn’t seem to apply. I’d normally park there anyway even with no bikes in the garage, it’s just easier and most of the car is covered by the house’s roof. It’s an interesting rule though.
  15. Parking slightly on sidewalk

      I actually have a double garage, but the second car still needs to park on the driveway because we need to keep all the bikes somewhere ?