For her internship at the end of her university degree, Sophie had the opportunity to spend six months in the US. She had a great time, and was able to experience Halloween the way it’s supposed to be, just like she’d seen in the movies. It’s traditional in America for the streets to transform into rows of haunted houses, each more elaborately decorated than the next, and for residents to dress up as all kinds of different characters. This year, to mark the occasion of Shauna’s arrival in Luxembourg, Sophie is planning to invite her to a US-style Halloween.
Two good reasons to think about retirement from the start of your working life!
Completing studies: check. Finding the first job: check. Having a head full of plans reminds you that you have your whole life ahead of you to achieve them, because you’re young. However, this is precisely why we need to talk to you about your retirement. Retirement may still seem a long way away to you, but read this article to understand why now is the right time to think about it!
Because, logically, the earlier you start building your savings, the more substantial the amount of your savings will be. Therefore, everything you set aside up until then will mean that you receive more each month in addition to the amount provided by the pension fund (statutory retirement pension). So you can enjoy relaxing, travel and other leisure activities!
Have you filed your first tax return yet? It’s important to remember that when you take out a private pension scheme with your bank, you receive tax benefits on your annual tax return. You are a winner now and later!
In your special expenses, for instance, you can deduct up to a maximum of €3,200 per year from your taxable income. That may seem like a small amount, but calculate it over 20, 30 or 40 years (x20, x30, or x40 😉) and you will realise it represents a significant tax rebate!
And because a picture is worth more than 1,000 words, here is an illustration of how much you stand to gain 😉: