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How many people live in their own property?
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this post was submitted on 28 Sep 2023
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The money of Germans is in the Rentenkasse and is not considered net worth in these studies. It's like not counting 401k's for Americans.
But it's also in the company's and state's hand. Every part of German economy is allowed to have wealth. Every part but that, who sells their work for it.
Because it's different than the 401k. The money you pay into the Rentenkasse is converted into points which are a "promise" that you may get old-age pension someday in the future. It's not like a saving account where you put away your money.