Oleg (@ScorpionfromBW) on getquin

1Wk·

Preparation for a temporary exit from the system.

Good morning everyone.

I would like to hear some suggestions on how you would proceed in my position.

I have been unemployed for almost 9 months now and only get rejections or no replies. I am from the logistics sector. I am 46 years old, currently live alone and have no children.

The economic situation in Germany is currently a challenge, ALG 1 is over at the end of March 2025. That means I need an alternative source of income if nothing changes by then. With my capital, there won't be any citizen's income anyway, and it will be almost impossible to hide the capital somewhere quickly. And in my situation, I don't want to be dependent on the state either, if at all possible.

In any case, I need a strategy to bridge the time after the end of ALG 1 benefits. Who knows how long it might take.

My aim is to cover my living expenses with the capital I have and, if possible, to generate a monthly cash flow of between 1500 - 2000€ net per month. That's enough for me to live a normal life, without big jumps of course. So my portfolio must be between 22000 - 28000€ gross per year.

The return is also secondary in this case, a high payout is important. This inevitably means taking on more risk.

I already have the $QYLE (-1.41%) in the portfolio, but in this case I would invest my entire $VWRL (+0.18%) and $CSNDX (-0.01%) and add JEQP IE000U9J8HX9. Roughly speaking, I would need at least 300k in JEQP IE000U9J8HX9. I personally rule out individual shares for the time being.

Part of $QYLE (-1.41%) may be sold to lend my brother the equity for the possible purchase of a property in Singen. But I'll get it back as soon as he sells his other apartment around the corner from me next year.

The only thing that worries me is the statutory health insurance. If I want to stay with voluntary statutory insurance, I don't understand exactly how the monthly contribution is calculated. About 12500€ a year is tax-free, because of the basic tax-free allowance plus 1000€ exemption.

Dividends are income, of course. The contribution for the GKV is calculated from this. But what if you live from your current account and cash? That does not generate any income. Is the minimum contribution for GKV calculated from this? I don't understand this system.

Perhaps someone can recommend who I should contact with this question. Health insurance company, tax consultant or lawyer? Which specialty?

In any case, I would like to hear your suggestions on how you would proceed in my case. Please without moralizing like part-time etc., because I don't want to sell myself for an apple and an egg or temporary work (yet).

Thank you very much

90 Comments

1Wk

In my opinion, the available capital is not enough to calmly move towards your long-term goal. Perhaps you could look for a camouflage job outside of your qualifications and prepare further and better for the big step? After all, you are in the fortunate position that your work no longer has to pay so much that you have to be able to make a good living from it. The main thing is an inflow of capital, employment, health insurance, time to plan and implement your goals and whatever else you need. It is important that this alibi job gives you enough mental resources and time.

I wouldn't sell the VWRL and would definitely consider the taxes when selling it.
Never lend money to friends or family. The opportunity cost of doing this is immense and borrowed money drives a wedge into any emotional relationship.

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Joe M.@Lifecycle_investing

1Wk

You have quite a lot of money, but it's quite difficult to live off your investments alone. If I were you, I would try out different jobs that you find interesting. For example, I would want to work as a bartender or in the trades...

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Chrisse95@Chris_legt_an

1Wk

Even if it's not his entitlement, I think I would look for a part-time job, then the issue of statutory health insurance is a thing of the past and with a basic fund of €400-600, you don't have to add so much from your deposit.

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Alex@AlexG82

1Wk

My recommendation: Look in Switzerland, you seem to be from BW. The job situation there is currently much more relaxed. What's more, you're not tied down and could even move to Switzerland. More pay, less tax, tax-free stock market gains, around €200 in healthcare - need I say more?

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Soprano@Soprano

1Wk

Go abroad and live on €400 a month. What are you waiting for? Without planning your own family, there's absolutely no reason to do this and spend €2000 a month. For what? What's the point?

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Aktienmasseur@Aktienmasseur

1Wk

Is there no possibility of retraining or further training? Or were there any rejections with an answer? I naively claim that people are always being sought in logistics, or am I wrong? Couldn't you switch to the dispatcher area with your knowledge?

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Matthias@Rebellion81

1Wk

A mix of realty income, main street and dynex...and you generate a monthly after-tax cash flow that you can at least make a good living from. Or you put it in a dividend etf that pays out monthly. Or go to work but part-time or mini-job if there's still something missing. The possibilities are endless.

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Pezi@Pezi

1Wk

I wouldn't take any more risks, rather the opposite. It's more about preservation, not about up or down...

Furthermore, I wouldn't lend any money in your situation...

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Dividende > Zinsen@GoDividend

1Wk

As a first point of contact, I would actually get the health insurance company on board to find out how your situation will ultimately be handled. You can then base the rest on the result

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Katth@Katth

1Wk

That's a really nice portfolio and it would be a damn shame to have to start take out money now at the age of 46. Please consider lowering expectations for a new a job and perhaps take one with less pay than before. Once you have a steady income besides your dividend you can always take a little bit more time to find a job that suits your ambitions and long term plans.

I wish you the best of luck.

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