Question 1

How can I get started with expat finances in Germany on my own?

Accepted Answer

We've created a comprehensive Expat Checklist that covers everything you need to know when settling in Germany, from banking to insurance to retirement planning. It's completely free and a perfect starting point.

Question 2

What's the difference between public (GKV) and private (PKV) health insurance in Germany?

Accepted Answer

Public insurance (GKV) offers family coverage and income-based premiums, while private insurance (PKV) can offer better benefits at lower costs for high earners. The right choice depends on your income, employment status, and family situation.

Question 3

Should I contribute to the German pension system or invest privately?

Accepted Answer

It depends on your plans. If you're staying long-term in Germany (5+ years), the German pension system offers solid benefits. For shorter stays, private investment strategies might be more flexible.

Question 4

Do I need to speak German to work with Expat Heroes?

Accepted Answer

Not at all! Our entire team is fluent in English, and all our services, documentation, and communication are available in English. We specialize in helping English-speaking expats navigate the German financial system.

Question 5

What insurances are mandatory in Germany?

Accepted Answer

Health insurance is mandatory for everyone in Germany. Private liability insurance (Haftpflichtversicherung) is highly recommended. The right mix depends on your employment status, family situation, and lifestyle.

Question 6

Can Expat Heroes help me with my taxes?

Accepted Answer

We are not licensed tax consultants, so we cannot provide tax advice directly. However, we can refer you to a trusted tax consultant who can help.

Question 7

How much does the Expat Heroes consultation cost?

Accepted Answer

Our consultancy appointments are completely free of charge. Our consultants are compensated through a mandatory commission paid by the companies and providers we recommend, so you receive expert guidance at no direct cost.

Question 8

How much money should I save as an expat in Germany?

Accepted Answer

A common rule of thumb is to save at least 20% of your net income. But the right amount depends on your goals, lifestyle, and how long you plan to stay in Germany.

Question 9

What is a financial advisor for expats and why do I need one?

Accepted Answer

A financial advisor for expats understands the decisions that come with an international life: what happens to your contracts if you leave Germany, which products work across borders, and which ones you are better off not signing. An expat financial advisor ensures you don't miss opportunities or make costly mistakes, all in English.

Question 10

How does inflation affect my savings in Germany?

Accepted Answer

Inflation reduces the purchasing power of your money over time. Even at moderate rates, your savings could lose significant value if left in a low-interest bank account.

Question 11

What is the retirement gap and how do I calculate it?

Accepted Answer

The retirement gap is the difference between what you'll receive from the German state pension and what you actually need to maintain your lifestyle in retirement. Many expats are surprised by how large this gap can be.

Question 12

What should I know about investing as an expat in Germany?

Accepted Answer

As an expat, you have access to a wide range of investment options in Germany, from ETFs and funds to pension-linked products. The key is to choose a strategy that aligns with your goals, risk tolerance, and time horizon.

Question 13

How do I find out which insurances I actually need in Germany?

Accepted Answer

Germany has many types of insurance, some mandatory, some optional but highly recommended. The right mix depends on your employment status, family situation, and lifestyle. A free Insurance Check can give you a clear overview.

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