Inntreilopes Finanzblog Inntreilopes Finance Blog
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Personal finance blog from Germany

A finance blog about ETFs, taxes, and retirement planning

I write here about investing as it actually happens in everyday life: with savings rates that sometimes rise and sometimes fall, with tax assessments that raise questions, and with market phases that keep you busy.

To ETF savings plans More about me

Addendum from October 28, 2026 — the advance lump sum (Vorabpauschale) is due again.

What this is about

The blog is about long-term wealth accumulation using simple means. The focus is on broadly diversified equity ETFs, the role of savings rates and investment duration, as well as the tax rules that apply to capital gains in Germany.

I write from the perspective of an investor who makes their own deposits, pays their own taxes, and does their own calculations. That is why these pages are often about details rather than the big picture: What does the difference between accumulating and distributing funds mean for my statement? How does the saver's tax-free allowance actually affect what is left at the end of the year? Once you have sorted out such questions, you make calmer decisions.

Window at dawn in a quiet study with half-open blinds

What to expect on this homepage

From here, you can reach the four main topics of the blog. Each of these pages is intended as an assessment, not as a buy recommendation.

Four main topics a blog Everything in one place, none of it as a recommendation.
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The DAX is not the stock market.

The DAX shows a cross-section of large German companies and says little about global development. I look at it regularly, but I do not draw conclusions from it for a globally positioned portfolio. Those who confuse the two react to news that is hardly relevant to their own portfolio.

Read market observations

Why the MSCI World appears so often

When global equity ETFs are discussed, the MSCI World almost always comes up. It bundles developed market stocks into one index and is therefore considered by many to be a core component of a broadly diversified portfolio. I use it as a reference point in articles because it is a good way to explain what diversification means in practice and where the limits of a single index lie.

Anyone who only holds the MSCI World is broadly positioned, but not represented everywhere. Emerging markets and smaller companies are left out. This gap is not a mistake, but a conscious decision that one can make or not make.

Diversification, practical

A world ETF already brings a significant US share with it. Anyone who additionally adds an S&P 500 ETF consciously reinforces this focus. You can want that. You should just be aware of it.

The question is therefore not a product question, but a weighting question: How much USA do I want to have in my portfolio?

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Hand with pen over an empty, lined column of numbers

The US share in the portfolio

The SPDR S&P 500 UCITS ETF is popular with European investors when they want to specifically bet on US stocks. It tracks the S&P 500 and is mentioned in many comparisons as a core component for US market exposure.

I mention it here because it constantly appears in comparisons, not as a recommendation. Whether it belongs in your portfolio depends on how you want to weight your regional mix — and on whether you know what US share your world ETF already brings with it.

To ETF savings plans

What could change in retirement planning

According to current information, the retirement account (Altersvorsorgedepot) is scheduled to start on January 1, 2027. It is designed as a state-subsidized private retirement provision with a securities account, and ETFs are intended to be a possible form of investment within it. A basic allowance and a child allowance are planned. These are the key points; nothing more has been decided yet.

For planning, this means: You can inform yourself, but you cannot rely on it yet. I will continue to follow the development here and assess what is reliable and what remains open. Anyone who is already saving today does not have to wait for the start date — the savings rate continues in any case.

The status I am following

Start
January 1, 2027, announced
Investment form
Securities account, ETFs possible
Subsidy
Basic allowance and child allowance
To retirement planning

Taxes are not a side topic

With capital gains, it is not just the return that counts, but also what is left of it. These three figures are the ones you encounter most often in Germany — and they work together.

  • Saver's tax-free allowance Allowance

    Reduces the tax burden on capital gains up to the tax-free allowance limit. Different amounts apply to single and married persons.

  • Advance lump sum before the sale

    Ensures that for accumulating funds, some tax is incurred even before a sale. The amount is debited from the clearing account.

  • Partial exemption Tax-free portion

    A portion of the returns from equity funds is excluded from taxation. The size of this portion depends on the type of fund.

  • Exemption order at the broker

    This must be filed so that your broker takes the saver's tax-free allowance into account. Without an order, the full tax is initially withheld.

Transfer sort first, then save Anyone who knows these four variables will not be surprised by the debit.
Understanding taxes
What I listen to in the morning

Ten minutes of economics when time is tight

Macro topics sound far away, but they affect your personal wallet. 'Zehn Minuten Wirtschaft' is a daily format from NDR Info, in which expert journalists from the business editorial team summarize the most important topics of the day in about ten minutes.

The perspective is more focused on business journalism than personal finance, which is an advantage if you want to understand why interest rates, the economy, and currency exchange rates move. I listen to the podcast in the morning, usually while having breakfast, and use it as a starting point for my own notes.

Geld genug: Financial questions from real life

The financial podcast 'Geld genug' is produced in collaboration between Handelsblatt and DIE ZEIT and is released every two weeks on Tuesdays, hosted by Laura de la Motte and Jan Guldner. According to the announcement, it started on September 15, 2026.

What I like about it: It deals with financial questions from real life instead of pure stock market logic. Topics like saving, protection, and the question of when enough has been achieved fit better into the everyday life of most readers than daily market commentaries.

How JustETF helps with the selection

Before a savings plan starts, the same questions usually arise: Which index, which provider, accumulating or distributing, and how high should the savings rate be? JustETF is a German-language portal with an ETF focus that serves many investors as a research and comparison source. I use it to check product data, not to adopt recommendations. The decision remains yours, and it depends on your situation, not on a ranking list.

Podcasts & Resources
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Why honest experience reports are more useful than product comparisons

A comparison shows numbers. It does not show how it feels to keep investing in a weak year. This is exactly the gap this blog fills: I write down what I have tried, what worked, and what I would do differently today.

This does not replace professional advice. However, it helps to sort out your own expectations, and experience shows that this is the more difficult part of long-term wealth accumulation.

A comparison shows you the interest rate. It does not show you whether you will keep investing in a bad year. That is exactly what I write about.

First steps for beginners

Those starting out rarely need more than a brokerage account, a broadly diversified ETF, and a savings rate that they can maintain regularly. The rest are subtleties that can be addressed later at your own pace.

  1. Start with a savings rate that is sustainable even in an expensive month

    An amount that doesn't hurt lasts longer than one you have to pause after three months. You can always increase it later.

    Step 1

  2. File an exemption order with the broker

    For the saver's tax-free allowance to apply at all, the order must be on file with the bank. This is a tax rule, not an opinion.

    Step 2

  3. Plan for the advance lump sum for the year

    For accumulating funds, some money is debited at the beginning of the year. If you know this, you don't have to wonder where the money went.

    Step 3

  4. Recalculate the statement once a year

    Half an hour in January is enough. After that, the rest of the year is a matter of routine, not attention.

    Step 4

On the topic pages, I go through these points individually, each with a note on where it is a tax rule and where it is a personal assessment.

What you won't find here

No purchase recommendations, no promises of returns, no products that I do not use myself or have at least checked thoroughly. I do not earn money here by selling financial products. If I mention a provider, it is because it is relevant in context, not as advertising.

This attitude makes the blog slower than other sites, but it makes it more honest. And honesty is not an ornament when it comes to money, but a prerequisite.

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Frequently Asked Questions

Who is this financial blog for?

For readers in Germany who are dealing with ETF savings, taxes, and private retirement provision, and who are looking for explanations instead of sales arguments. Prior knowledge is helpful but not necessary.

Do I get concrete investment recommendations here?

No. I describe basics, my own experiences, and market-related observations. You make decisions about products and savings rates yourself or with licensed advice.

How up-to-date are the articles on taxes and retirement provision?

Tax rules and political plans change. I write based on the status at the time of publication and point out when a topic is still open, such as the retirement provision account as of January 1, 2027.

Where to read next

If you are starting out, begin with the ETF savings plans. If you are holding a statement in your hand, go directly to taxes. And if you want to know who is writing here and why, you can find that on the 'About me' page.

To the ETF savings plans More about me

Inntreilopes Finanzblog

Königsallee 42, 40212 Düsseldorf, Deutschland

Monday to Friday: 09:00–18:00

info@inntreilopes.biz

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Transfer Savings rate, tax, patience The rest is routine.