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Analyze German political parties' manifestos using AI.

Have you thought of using AI to analyze and compare the manifestos of German political parties? There is a team that implemented a tool called Wahl.chat.

At Wahl.chat, you can ask any question (in German) on a topic (tax, immigration, school, etc.), and the tool will analyze the manifestos and other sources to give you an answer. You can even compare the positions of different political parties on a particular topic.

Here what I found when asked wahl.chat about the immigration topic.

Immigration

• AfD: People without a right to stay in Germany should be deported. The party wants border control. Asylum applications should be submitted and processed outside Germany.
• CDU/CSU: Controlled migration and stop illegal migration. However, Germany's humanitarian responsibility must be upheld. Integration should be promoted and demanded with concrete steps.
• SPD wants to improve integration and simplify skilled immigration by expanding integration courses and introducing a participation law. Control migration policy through humanitarian responsibility and to ensure orderly migration to the labor market.

Skilled workers migration

• AfD welcomes the immigration of qualified specialists who can contribute to Germany's success. However, domestic potential should be exploited before recruiting non-European skilled workers.
• SPD and CDU/CSU want to attract foreign skilled workers.

If you are eligible to vote in Germany, this tool can help you choose a party that shares your values.

Is planning for your newborn's retirement too soon?

The sooner you start saving for your or your child's retirement, the better. In Germany, every parent receives Kindergeld, which is 255€ per child per month.

You get the Kindergeld until your child is 18 or 21(in certain cases). So, if you open an ETF savings plan for your child when they are born and put 255€ every month until they are 18, here is how their savings account will look.

You would have contributed 55,080€ in 18 years in their ETF savings plan.

Future value after 18 years

• 8% average return: 105k euros
• 6% average return: 95k euros
• 4% average return: 79k euros

Leave the investment as it is without contributing further. This will be the future value when your child turns 60.

• 8% average return: 2.66 million euros
• 6% average return: 1.1 million euros
• 4% average return: 410k euros

Just imagine if your parents would have done that for you. You wouldn't have to worry about retirement planning at all.

This is the magic of compounding. The more time you give it, the bigger the sum gets.

You can't change the past. But you can change the future. So, plan for your child's retirement today along with yours.

How can you save for your child?

You have three options.

1. Open a trading account in the name of your child. In this option, you cannot use the money for yourself. You can only manage the account. Once your child turns 18, they can do whatever they like with the account.
2. Save for your child in your trading account. Once your child turns 18, transfer the shares into their trading account.
3. Open a new trading account in your name to save for your child. You can later transfer the account to your child once they turn 18.

In Options 2 and 3, you have access to the money and can use it if required. However, option 1 is more tax advantageous.

In option 1, your child's basic tax-free allowance and capital gains tax allowance are considered before paying taxes. So, you have to choose between tax advantage and access to money.

Here are the trading accounts we find good.

• ​Scalable Capital*
• ​Finanzen.net Zero*

20% property transfer tax on foreigners

AfD has proposed 20% property transfer tax on foreigners in their manifesto. If they gain power and pass this law, buying a property in Germany will be unattractive and unaffordable for foreigners.

Currently, the property transfer tax varies between 3.5% and 6.5% depending on the federal state. AfD wants to eliminate this tax for locals and impose 20% on foreigners.

You can learn about how to buy a house in Germany in our book.

Community Shoutouts!

• Launched one more way to prepare for the German citizenship test - Mock Tests. This will allow you to take unlimited time-based exams when preparing for the German naturalization test. Check it out here. 🥳

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