I dream of an extra 1,000 euros a month in my pension once I’m retired. An ambitious goal. But possible. The FOCUS online bill shows how much money you (and I) have to save per month.

Save a certain amount during your working years so that you have a cushion in old age that will ideally last until you die – and at the same time provide an adequate pension: many wishes at once – but they can be fulfilled. We just have to answer three questions:

Here come the answers:

The following table shows how large an asset must be so that you can pay out 1000 euros or 500 euros over 25 years. The list comes from Tom Friess, head of the VZ Vermögenszentrum in Munich. The withholding tax of 25 percent on capital gains is already included.

Savers who want to pay out 1,000 euros every month for 25 years in old age must have saved 190,000 euros by the time they retire – if they can invest their money with a return of four percent per year from retirement.

This depends on two factors:

– How long you can save for

– How much return you achieve during the savings phase

The following applies: the later you start saving, the lower your chances are of getting the amount you want. The following table shows at what age and which savings rates are necessary (assuming a savings return of four percent):

If you start saving later, you will have to pay significantly higher rates. A 48-year-old would have to invest 800 euros at six percent in order to have at least 156,000 euros in savings when he retires at 65.

Again the answer depends on two factors:

– How long you have left to deposit

– How high your savings rate is

Basically, it won’t work without securities such as bonds, funds or ETFs (Exchange Traded Funds). The longer you deposit, the more risk you can take and the higher fluctuations you can withstand. Added. For small installments, you should only choose one form of investment; you can spread higher installments across several investments – thereby spreading the risk of fluctuation. This brings additional security.

A typical beginner portfolio could look like this:

50 percent of the money in an ETF on the MSCI World index.

50 percent of the money is invested in an ETF on the Eurostoxx50.

If you want to take more risk – or want a greater return, you could invest as follows:

45 percent of the money in an ETF on the EuroStoxx50.

45 percent in an ETF on the American index S

10 percent of the money flows into an ETF on indices in the Asia/Pacific region or on emerging markets. This also includes countries like Russia and Brazil. However, it should be clear to investors that this means they are taking more risk, as stock market prices in emerging markets can fluctuate significantly. The chances of returns are also higher.

Here I explain how you can properly invest even smaller savings installments:

On the topic: The best ETF savings plans for every budget

If you can’t sleep peacefully with such a high share of securities, you have two alternatives.

1. A bank savings plan with a fixed interest rate scale. The money is safe here, but also produces lower returns.

2. A company pension plan. Here, the savings contributions are also guaranteed. In addition, the savings rates are paid from gross earnings, so you have to pay less tax.

Surf tip: We explain here how you can safely invest your money in your pension.