The house is paid off – how do I close the pension gap?

WiWo Coach is the exclusive advice service for WiWo subscribers. Top experts answer all your questions about investments, pensions, careers, taxes and law.

The question: Our reader has paid off his home and, at the age of almost 50, wants to devote himself to old-age provision for the first time. His current guaranteed pension entitlements are €900 per month. However, he expects to need at least 2,000 euros net per month when he retires. He would like to know which investments will best close this gap over the next 20 years.