STAY AWAY from This in Germany: Our Horrible Experience with Bausparvertrag 🇩🇪

[@aplebian7097]

My wife has the same thing. Her father had opened for her about 16-17 years ago or so. She's aware she can't really take anything out before she reached the goal and whatnot. But we didn't know there'd be extra costs (also the interest rate is around 2% over the entire amount, but perhaps that's also because it has been started a long time ago). I've also so far been rather confused as to why you should go for such a thing. I was informed the interest rates were very good for this about 20 years ago.

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[@MoonManPictures]

I totally understand where you are coming from but from the knowledge I have I want to add in a few points. * your money secure and guaranteed based on the exit strat signed by both parties, meaning not bound to the stock market taking corrections in said year that you want to cash out ? * you usually pay substantial taxes on stock market trading, or the release of money from an etf. * to my knowledge the state also subsidises the Bausparvertrag. * "Investment" and "saving" just aren't the same thing as sparen usually comes with a commitment the state and the banks as you for.

[@goranrr]

Thank you for this video. I have Bausparvertrag and wouldn’t agree on your story as a general one. Math is changing a lot if you have kids and you are getting 300€ per kid annually until they are 18. The many you saved per year is tax free, in my case I’m getting tax back at the end of the year. You just broke the contract and wanted cache for some other purpose than a property in Germany. That case costs a lot and was a bad financial decision. For some people Bausparvertrag +Riester is a great stuff.

[@johann0404]

I disagree. Bausprvetrag and Riester are the worst out there. Most german banks product aim to prey at your insecurity compare to other country. They sugarcoats it with tax reduction but eat u with fee and after pension life, mostly u r let to be broke. If you want to be better, stay away from any producz suggested by your bank. DYOR. You can maximise your saving better elsewhere

[@lindapertiwi1600]

This is absolutly helpful ❤

[@rajagurufloopy]

thats true, we year gain an interest of 0.10% which would be in cents and they charge use a fee every year which is more than 10 eurs. it is the worst decision to invest the money

[@lawintube]

Brooo thank you so much! I was just in my bank last week. They showed me the Bausparvertrag and the Private Rente thing... I was suspicious of both. This helped me a lot man!

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[@bernadettekiss7679]

I should have watch this video a week ago! 😭 I did that contract too but I just realized now that what I accumulate there I can’t use it for years... 🙄 it’s pointless. Thanks for the video!! And I am really sorry for you...and myself

[@marlonndlovu722]

Can't appreciate you enough man. I was always sceptical but this makes it clear. Thanks to you I discovered ETFs and I am making better financial decisions

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[@sukhoi102]

Thank you for sharing.. you are my go to for investing in Germany 🔥

[@Brandevise]

You're the man! Thank you for your kind words. 🔥

[@alecmaura7718]

Hey I appreciate that you were humble enough to make this video, to know that you shared your mistake so that others don't fall under this trap. I can only thank you so much 🙂!

[@sukhoi102]

@@Brandevise My discovery of your channel about investing is game changer, Bharat!👏 Especially at the beginning of the pandemic. I have a financial plan for for the first time 🙂

[@Brandevise]

I am so glad to hear it Nanda! More power to you! Let us know how things proceed!

[@kennethross2107]

Outstanding advice - I had a small one linked to a mortage but thankfully still seperable. I paid an opening gebühr of 500 Euros, 12 Euros yearly gebühr and each year it made the whoppung sum of 15 cents - however they did provide a yearly tax breakdown of my enourmous profit. Really! Thankfully I a managed to cancel it and will get my money back in a few months.

[@tanbravean]

Hey Bharat, I hope you read this: (PLEASE LIKE THIS COMMENT SO HE CAN SEE IT) As a foreigner in Germany, we face challenges in our day to day lives, and sometimes they can have devastating financial consequences (entering contracts with sneaky terms in German). As someone who has been living in Germany for over 10 years, I can vouch for Bharat's authenticity of his information about all things Germany-related. I just want to say a big thank you, no for me personally, but a thank you on behalf of future immigrants in Germany will benefit from watching your videos. I wish my parents and I had someone like you to guide us and help up jump through the foreigner-unfriendly aspects of Germany when we first got here. I understand that you, Bharat, are a business-centric person and you would eventually grow this channel out. I hope you understand that what you are doing here is more than a business, but a tremendous help for all immigrants in Germany. I sincerely hope you will retain your authenticity and continue helping all who are in need. Many thanks on behalf of all who benefitted from your videos. Cheers, Bharat.

[@hectormanuel8944]

So sorry you have to live that experience 😢. Thanks again for sharing it. I wish you the best of lucks

[@Brandevise]

Thank you Hector!

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[@mnp3981]

My husband did same mistake with alliance in pension fund he was putting since past 4 years now if he wants take out he is going to pay for lots of fees which ends up in loss of capital

[@eklavyyapopat4107]

really you saved me.... I was getting into the sweet talk.... and was really considering to invest with Bausparvertrag... Awesome video bro .. thank you.

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[@markochristopher7223]

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[@christenesmith2058]

I have one but literally only because my work matches my monthly amount, I'm guessing due to some government program. For this reason alone I went for it and definitely will not touch it until it ends. I luckily went for a very low goal in the contract - I think around 10,000 euro.

[@dhruv19871]

all financial products related to Altersversorge generally have such inflexible conditions in Germany. There are many such products available. One should definitely read the fine print before signing such contracts. Thanks for sharing your video to make other foreigners in Germany also aware of such issues!

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[@Millionaire_Mindset101]

Thank you Bharat for this awareness 👍

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[@mesmerizing.]

i saw a video bashing you, and i came to a conclusion which is, you convinced me in 7 mins, which he couldn't in 30 min (With lots of mathematical error). thanks for this video. keep doing the good work.

[@o.t.3166]

I can understand how difficult your situation was. But all such conditions are stated in the contract. You should know them before you sign. On the other hand, your partner should advise you better, it is not a product for short term decisions.

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[@ruslan-pe3wx]

I am in this sh*t. I have signed up for this crap 4 years ago and invested some amount there, although not so much. I have also been stupid enough to pay 1600 EUR at the beginning as a fee. Now I am wondering what is the best way for me to extract from this situation. To send my deposit money to Bausparvertrag in order to get a low interest loan (the interest shown on my contract is really low) or withdraw the money I have in Bausparvertrag no matter what. I am stuck and don't know what to do.

[@TheBooban]

It's no point saving like this anymore, but the entire idea is long term saving and stopping you from withdrawing early. It's like saving for your pension, you can only access it when you retire. Even in stocks it wouldn't be wise to invest money you need the same year. Even a house mortgage, you can't get out of it without costs. You get a deal, interest, govt. backing, but they earn their cost over time.

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[@bansaha1]

Hi Bharat, Thanks for this Video, it would save many Expats. In the video you also mentioned you were able to arrange money from your parents (or family), could you please make a video, how can someone legally get money from outside Germany for buying apartment without paying taxes in Germany . thanks in advance.

[@MatthewToogood]

Sorry you had to go through the personal experience to now give others much better advice. I also set up a bausparvertrag to refinance my mortgage before the ten year mark, and was quite shocked that it then started in a minus because of the 1% fee. This is not how Savings works! I still have it, but I would never do it again. Thanks for sharing.

[@Brandevise]

Thanks for sharing your experience too Matthew!

[@syedibrahimabbas2559]

Thanks for the information Bharath. What is the difference between private pension choosing to invest in etf , than investing directly in etf ? I came to that private pension can be used as collateral for buying property. Is it worth considering?

[@syedibrahimabbas2559]

And also I heard it has considerably less tax on returns , what is your thought on this ??

[@Bcfgvvvv]

Thanks a lot for your advice.

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[@laurasuchilau]

You didn’t have Bausparvertrag. You had Wohnriester. Nevertheless the consultant should have tell you about the costs. But you send out warnings about something really good with your experiences on something complete different

[@vikranthg9486]

Thanks for sharing and sorry about what happened to you.

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[@sagarmohanty9674]

Bro I am already having bausparvertrag, now I am thinking for Wohn-Riester-Förderung, could please explain this? Thank you in advance

[@RainbowKitchenRecipes]

Thanks for sharing your experience, may help a lot... sorry to hear that you had hiccups on your plan..

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[@ghaleghale913]

To be honest from my point of view, very very honest KZbinr brother Bharat is honest idea share guy. I have never see such kind information provider man... 🙏🙏🙏🙏. Your heart is so clean I pray to god where ever you are God gives happier life you and your family. .

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[@hussamsoufi1825]

MAN! thanks for that, you saved me huge trouble with this video!

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[@ManideepSegu]

There is an option that the employer would provide 40 Euros per month. Considering this, would you still not recommend Bausparvertrag? Or are there any loopholes for this 40 Euro advantage we are getting?

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[@priyalavanya]

Thank you. I was about to get trapped into it. Last-minute got escaped, after seeing this video

[@aadityadande]

i think you did FD in germany and you pay fine in india too if you break FD

[@itspreethisworld848]

I was just in time, when i realized it too.

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[@markochristopher7223]

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[@armstrongbabilatitangoh7078]

True talk bro. Germany is so difficult when it comes to collecting ur money. They always try to give u back in pieces.

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[@smaragd_]

I am surprised a clever guy like you fell for bankster sweat-talk. That is not the case in Germany only, you have that in eaach and every country where banks exist.

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[@soufianalmobarak2233]

Hello, Everybody, I've got a legal residency in Germany because CO.19 lost my job I'm thinking of investing a little in Stocks I don't know where to start?

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[@staseski7435]

Do you think about LBS? What is that exactly? Can someone tell me please?

[@travohuy]

isn't the idea of Bausparenvertrag a long term plan? That means, you can't withdraw early?

[@Brandevise]

Life happens and then you have to do things you didn’t plan for

[@markochristopher7223]

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[@padmapriyakowlwar4986]

Hi Bharath, Could you please explain different options available in Vermögenswirksamen Leistungen?

[@Brandevise]

Yes. I’ll do that.

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[@lifeofbuddy6736]

Do you have any views on long term future of Europe and Germany as you are doing a lot of investing here?

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[@MrShahabd]

Don’t get me started on Altersvorsorge Versicherung , That is also something you really don’t want to get

[@Brandevise]

Can you please share more of your experience? I would really love to know.

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[@gautamsujan5776]

For me also same problem

[@gokoz5423]

You're a good guy. I will follow you

[@RodeoRudiLP]

Well actually it is not the fault of the Bausparkasse. You just did not inform yourselg

[@rajeshwarangajendran7700]

Germany wants to suck money in every possible way and they never tell us about the extra fees which we come to know about it much later.

[@ergunkocak80]

I made the same mistake and it cost even more to me 😔

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[@prasadphani6823]

Thanks bro

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[@ganeshmanikanta4074]

Thanks for sharing..... should have courage to share about something went not as planned.....👍

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[@floatinsun]

This is a f trap 😂. Thanks for video. Learning forn others experience is cheaper. Many banks offer 3% interest in Europe now other country like in India 7.5% much better

[@Brandevise]

Interest rates are different and the inflation in the two regions are different two.

[@xavierdsouza8885]

private or government bank?

[@Brandevise]

Private

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[@germanstacker]

Now you will be lucky, if you hold your Bausparvertrag.

[@meianoitee01]

Here in germany, you should read the whole contract before take any financial product.... In this country, after you signed something, you sold your soul

[@RodeoRudiLP]

You must be one of the people that go into a restaurant, order the most expensive wine and then complain afterwards that you need to pay. Nothing about this is extraordinary. Just read the documents if you sign

[@turekjess9110]

Hello, I'm new to forex trade And have been making huge losses but I recently see a lot of people earning from it. Can someone please tell me what I'm doing wrong

[@czubusumi8198]

All you need now is a professional broker else you gonna continue blowing of your account.

[@MuhammadKaifKhan]

Hey Bharat, Can you please tell us about your views on Crypto Currency.

[@Brandevise]

Soon!

[@MuhammadKaifKhan]

@@Brandevise I'll be waiting 😀

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[@smithkaren3992]

I turned $300 into $6000 just in one week with the aid and guidance of Brenda I have been receiving good signal's from global service thank you!

[@smithkaren3992]

+•*1•*9•*0•1•*4•*9•*2•*1•*2•*5•*4•*....

[@verawalking]

welcome to Germany 🤷‍♀️ terrible

[@Brandevise]

That's true Vera. I will be honest, you never feel so powerless until you see some major company whom you saved money for, hold your funds even when it is your own money, you really need it, you worked for it and now you need it, but because of their bullshit Terms and Conditions they keep the money for 3 months which honestly feels like harassment. Will never recommend this to anybody!

[@verawalking]

@@Brandevise I believe you and I am very sorry for all stress you had to endure. Is there any chance to go to the justice?

[@Brandevise]

Thank you Vera! Schwäbisch Hall is one of the biggest and fattest Bauspar companies with such intransparent 'Terms and Conditions' put inside anywhere. I don't think we would get something here, but we are wiser now and will think tens of times before starting putting our money somewhere.

[@verawalking]

@@Brandevise I really don't know how those people sleep at night. We have a huge problem because we don't speak German and you do. Its a learning curve..and I'm sure you will earn way more from now on. 🙏

[@Finanzfuechsle]

Hahaha, Vera :D

[@tukpatuk]

Puff... german burocracy

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[@anin532]

Paji ini English nahi andi sanu

[@dejanmilchevksi9607]

This is so fucked up

[@Brandevise]

Yes. And everybody who doesn't know about investing in stock market thinks that these are the 'secure' ways to save money for your retirement. We were one of those people too because we didn't know much but now things are different.

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