I say ‘in Germany’ because there’s where I reside, a welfare state.
We don’t have 401K here, but public retirement systems, mandatory.
My employer also matches what I put in a small state pension system up to 50 euros. Not really much, better than nothing.
What number do I have to reach for a decent retirement? Retirement age: 67 years old.
Is it enough to save or do I have to invest?
You don’t need to pay an advisor. You can learn everything you need to know for free. Also be very careful with people recommending you to go 100% stock market. Make sure you know your risk tolerance before doing so.
There is really no risk here in Germany, the retirement saving contracts here are forced to guarantee their payout. The stock options just simply offer more payout. It’s not just a stock portfolio that you pay into yourself and withdraw yourself, like is maybe common in the US or other places.
But yes of course all of it is learnable by yourself. But if you honestly have the money to save for retirement, then your money is better spent letting a professional (not working on commission) handle it.