{"id":1779292575,"date":"2026-06-30T09:09:13","date_gmt":"2026-06-30T09:09:13","guid":{"rendered":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/uncategorized-en-us\/lifecycle-model-in-the-altersvorsorgedepot-the-glidepath-explained-simply\/"},"modified":"2026-09-24T10:54:04","modified_gmt":"2026-09-24T10:54:04","slug":"lifecycle-model-in-the-altersvorsorgedepot-the-glidepath-explained-simply","status":"publish","type":"post","link":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/lifecycle-model-in-the-altersvorsorgedepot-the-glidepath-explained-simply\/","title":{"rendered":"Lifecycle model in the Altersvorsorgedepot: the glidepath explained simply"},"content":{"rendered":"<article class=\"article\">\n<p class=\"avd-lead\"> A lifecycle model, known in the jargon as a glidepath, is an investment strategy in which the equity allocation in the securities account is automatically reduced as you get older. Young savers get high return potential, older savers protection from crash risk. A lean alternative to the classic <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/contribution-guarantee-in-the-altersvorsorgedepot-optional-instead-of-mandatory\/\">contribution guarantee<\/a>. <\/p>\n<aside class=\"avd-callout tldr\">\n<p><strong>The key points at a glance:<\/strong><\/p>\n<ul>\n<li>The equity allocation falls automatically with age<\/li>\n<li>Young savers: 90 to 100% equities<\/li>\n<li>From your mid-50s gradually shifted into bonds<\/li>\n<li>Protects against crash damage shortly before retirement<\/li>\n<li>Stronger return than a contribution guarantee over long terms<\/li>\n<\/ul>\n<\/aside>\n<section id=\"was-ist\">\n<h2>What is a lifecycle model?<\/h2>\n<p> The lifecycle model follows a simple idea: <strong>risk decreases with age because the investment horizon gets shorter.<\/strong> <\/p>\n<ul>\n<li>At 25 a saver still has 40 years to sit out a crash.<\/li>\n<li>At 60 only 5 years; a crash would significantly reduce the final balance.<\/li>\n<\/ul>\n<p> Instead of handling the reallocation yourself, the model does it for you automatically. In your younger years the money is almost 100% in <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/etfs-in-the-altersvorsorgedepot-the-heart-of-the-new-retirement-provision\/\" data-wpil-monitor-id=\"23\">equity ETFs<\/a>and later it is continuously shifted into bonds. <\/p>\n<\/section>\n<section id=\"wie-funktioniert\">\n<h2>How does that work in detail?<\/h2>\n<p> The provider defines a <strong>target allocation curve<\/strong>that specifies what percentage of equities and what percentage of bonds should be held in each year of life. Once a year (or each quarter) the provider automatically checks whether the allocation still fits and shifts assets if necessary. <\/p>\n<p> This is called <em>rebalancing<\/em>. It typically costs no extra fees because it is included in the reduction in yield (RIY). <\/p>\n<\/section>\n<div class=\"avd-callout zwischenfazit\">\n<p><strong>How does the lifecycle model work in practice?<\/strong><br \/>Young savers benefit from a high equity allocation, older savers from risk protection; the model switches over automatically.<\/p>\n<\/div>\n<section id=\"typische-kurve\">\n<h2>A typical glidepath curve<\/h2>\n<table class=\"avd-table\">\n<thead>\n<tr>\n<th>Age<\/th>\n<th>Equity allocation<\/th>\n<th>Bond\/money market allocation<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20 to 35<\/td>\n<td>90 to 100%<\/td>\n<td>0 to 10%<\/td>\n<\/tr>\n<tr>\n<td>36 to 45<\/td>\n<td>80 to 90%<\/td>\n<td>10 to 20%<\/td>\n<\/tr>\n<tr>\n<td>46 to 55<\/td>\n<td>60 to 75%<\/td>\n<td>25 to 40%<\/td>\n<\/tr>\n<tr>\n<td>56 to 60<\/td>\n<td>45 to 60%<\/td>\n<td>40 to 55%<\/td>\n<\/tr>\n<tr>\n<td>61 to 65<\/td>\n<td>30 to 45%<\/td>\n<td>55 to 70%<\/td>\n<\/tr>\n<tr>\n<td>from 66 (decumulation phase)<\/td>\n<td>10 to 25%<\/td>\n<td>75 to 90%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"small muted\">Illustrative values. Providers differ, especially in the pace of the shift in the last 10 years before retirement.<\/p>\n<\/section>\n<section id=\"vs-garantie\">\n<h2>Lifecycle model or contribution guarantee?<\/h2>\n<table class=\"avd-table\">\n<thead>\n<tr>\n<th>Aspect<\/th>\n<th>lifecycle model<\/th>\n<th>contribution guarantee<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Protection mechanism<\/td>\n<td>Reallocation<\/td>\n<td>Insurance promise<\/td>\n<\/tr>\n<tr>\n<td>Expected return<\/td>\n<td>medium to high<\/td>\n<td>low to medium<\/td>\n<\/tr>\n<tr>\n<td>Costs<\/td>\n<td>low (0.3 to 0.7% in the ETF default standard product)<\/td>\n<td>higher (often 1.0 to 1.8%)<\/td>\n<\/tr>\n<tr>\n<td>Flexibility<\/td>\n<td>high, adjustable at any time<\/td>\n<td>low, the guarantee is fixed<\/td>\n<\/tr>\n<tr>\n<td>Risk during the investment phase<\/td>\n<td>moderated<\/td>\n<td>strictly limited<\/td>\n<\/tr>\n<tr>\n<td>Suitability for long terms<\/td>\n<td>very good<\/td>\n<td>less good<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p> For long remaining terms the lifecycle model is usually the <strong>stronger-return choice<\/strong> . If you have 25+ years, you benefit from the <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/returns-in-the-altersvorsorgedepot-what-is-realistically-achievable\/\" data-wpil-monitor-id=\"24\">high equity allocation<\/a> in your younger years. <\/p>\n<\/section>\n<section id=\"vorteile-nachteile\">\n<h2>Advantages and disadvantages<\/h2>\n<h3>Advantages<\/h3>\n<ul>\n<li><strong>No self-management needed:<\/strong> the reallocation runs automatically.<\/li>\n<li><strong>High return in your younger years:<\/strong> full equity allocation without the drag of a guarantee.<\/li>\n<li><strong>Risk protection before retirement:<\/strong> crash damage is limited.<\/li>\n<li><strong>Low costs:<\/strong> as an ETF-based model typically under 0.7%.<\/li>\n<li><strong>The subsidy rate is retained:<\/strong> the basic allowance and the tax deduction take full effect.<\/li>\n<\/ul>\n<h3>Disadvantages<\/h3>\n<ul>\n<li><strong>No insurance promise:<\/strong> in extreme market phases a lifecycle model can make a loss too.<\/li>\n<li><strong>Standard curve:<\/strong> the fixed reallocation does not always match your individual risk appetite.<\/li>\n<li><strong>Reallocation in bad phases:<\/strong> if the model sells at the wrong moment (e.g. after a crash), that can lock in the losses.<\/li>\n<\/ul>\n<\/section>\n<section id=\"anbieter\">\n<h2>Which providers will offer a lifecycle model?<\/h2>\n<p> As things stand (May 2026), all robo-advisors and neobrokers plan to offer the lifecycle model as the <strong>default strategy in the default standard product<\/strong> . These include Trade Republic, Scalable Capital, ING and probably DKB and comdirect as well. <\/p>\n<p> At traditional fund companies (Union, DWS, Fidelity) it will probably be chosen as the <em>default strategy<\/em> though savers can also select other models manually. <\/p>\n<\/section>\n<section class=\"avd-faq\" id=\"faq\">\n<h2>Frequently asked questions about the lifecycle model<\/h2>\n<details>\n<summary>How high is the equity allocation at the start?<\/summary>\n<p>With most providers 90 to 100%. Only from the mid-40s is it gradually shifted.<\/p>\n<\/details>\n<details>\n<summary>Can I choose the equity allocation myself?<\/summary>\n<p>With premium products often yes, with the default standard product usually not. If you want more control, look at the premium offering.<\/p>\n<\/details>\n<details>\n<summary>What happens in a crash?<\/summary>\n<p>The model does not sell in a panic but sticks to the glidepath. Advantage: you are not tempted to sell at the bottom yourself. Disadvantage: short-term losses are possible.<\/p>\n<\/details>\n<details>\n<summary>Does the lifecycle model cost extra?<\/summary>\n<p>No. It is included in the <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/reduction-in-yield-riy-in-the-altersvorsorgedepot-what-you-need-to-know\/\">Reduction in yield<\/a> of the product.<\/p>\n<\/details>\n<details>\n<summary>Are there lifecycle models outside the Altersvorsorgedepot too?<\/summary>\n<p>Yes, many robo-advisors (Scalable, Quirion, Whitebox) offer them for non-subsidized securities accounts. The principle is the same, just without the state subsidy.<\/p>\n<\/details>\n<details>\n<summary>What is the difference from a mixed fund?<\/summary>\n<p>A mixed fund has a rigid equity-bond ratio (e.g. 60\/40). The lifecycle model adjusts the ratio dynamically to your age.<\/p>\n<\/details>\n<\/section>\n<div class=\"avd-callout zwischenfazit\">\n<p><strong>Is it better than a contribution guarantee?<\/strong><br \/>Compared with a contribution guarantee it is usually the stronger-return and more flexible option.<\/p>\n<\/div>\n<section class=\"avd-weiter\">\n<h2>Keep calculating and reading<\/h2>\n<p class=\"avd-weiter__rechner\"><strong><a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/altersvorsorgedepot-calculator-extended\/\">Altersvorsorgedepot calculator Plus<\/a><\/strong> \u2014 calculate the subsidy, tax advantage and final balance for your own situation.<\/p>\n<ul class=\"avd-weiter__links\">\n<li><a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/contribution-guarantee-in-the-altersvorsorgedepot-optional-instead-of-mandatory\/\">contribution guarantee<\/a><\/li>\n<li><a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/etfs-in-the-altersvorsorgedepot-the-heart-of-the-new-retirement-provision\/\">ETFs in the Altersvorsorgedepot<\/a><\/li>\n<li><a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/returns-in-the-altersvorsorgedepot-what-is-realistically-achievable\/\">return<\/a><\/li>\n<\/ul>\n<p class=\"avd-weiter__lexikon\">All terms at a glance: <a href=\"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/what-is\/altersvorsorgedepot-glossary-all-terms-from-a-to-z\/\">Glossary from A to Z<\/a>.<\/p>\n<\/section>\n<section class=\"avd-sources\">\n<h2>Sources<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.bundesfinanzministerium.de\/Content\/DE\/FAQ\/reform-der-privaten-altersvorsorge.html\" rel=\"external nofollow\" target=\"_blank\">BMF, FAQ on the reform of private retirement provision<\/a><\/li>\n<li><a href=\"https:\/\/www.verbraucherzentrale.de\/wissen\/geld-versicherungen\/altersvorsorge\/neues-altersvorsorgedepot-rentenchance-oder-teure-verkaufsfalle-118178\" rel=\"external nofollow\" target=\"_blank\">Verbraucherzentrale, the Altersvorsorgedepot assessed<\/a><\/li>\n<li><a href=\"https:\/\/www.test.de\/Altersvorsorgedepot-4910361-0\/\" rel=\"external nofollow\" target=\"_blank\">Stiftung Warentest, Altersvorsorgedepot<\/a><\/li>\n<\/ul>\n<\/section>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>Lifecycle model (glidepath) in the Altersvorsorgedepot: how the equity allocation is automatically reduced over the years, advantages and disadvantages, with concrete examples from 2027.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_metasync_otto_title":"","_metasync_otto_description":"","_metasync_otto_keywords":"","_metasync_otto_og_title":"","_metasync_otto_og_description":"","_metasync_otto_twitter_title":"","_metasync_otto_twitter_description":"","rank_math_title":"","rank_math_description":"","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"","_aioseo_title":"","_aioseo_description":"","_metasync_seo_title":"","_metasync_seo_desc":"","_metasync_breadcrumb_title":"","_metasync_primary_category":0,"_metasync_primary_product_cat":0,"_metasync_otto_disabled":"","_metasync_hreflang":"","_metasync_plugin_sync_ts":"","_metasync_robots_advanced":"","footnotes":""},"categories":[68],"tags":[69,70,75,71,85],"class_list":["post-1779292575","post","type-post","status-publish","format-standard","hentry","category-what-is","tag-altersvorsorgedepot","tag-contribution-guarantee","tag-etf","tag-reduction-in-yield","tag-return"],"_links":{"self":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts\/1779292575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/comments?post=1779292575"}],"version-history":[{"count":0,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/posts\/1779292575\/revisions"}],"wp:attachment":[{"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/media?parent=1779292575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/categories?post=1779292575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/altersvorsorgedepot-anbieter-vergleich.de\/en\/wp-json\/wp\/v2\/tags?post=1779292575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}