401k (or RRSP in Canada where I am) are also something that Europeans differ on. I don't know about the Netherlands. But Germany definitely is seriously lacking

401k (or RRSP in Canada where I am) are also something that Europeans differ on. I don't know about the Netherlands. But Germany definitely is seriously lacking in this or ahead depending on your personal preferences. Germany still puts a lot of emphasis on the state pension system. They also acknowledged quite some time ago now that they need a private system next to it. But in true German fashion it's very bureaucratic and puts all of your money in some insurance companies hands. Instead of giving you tax free accumulation in whatever financial vehicle you choose, everything has to go through funds that scrape off most of your profits. Well actually they give you ~800EUR of interest/dividend/capital gains tax free. Just so you understand, in Canada I can pay ~$CAD5500 (it changes from year to year) into a tax free savings account with after tax money. None of the gains or dividends from this will ever be taxed. And an RRSP I can contribute 18% of last year's income to (max ~$27.000CAD right now) and the capital gains and dividends from this can grow tax free and I only pay taxes on it once I'm retired and in a lower bracket and contributions lower my current tax burden. And Germany allows me 800EUR of tax free dividends/gains. Laughable. Truly abysmal. (at least instead of paying your regular tax rate on capital gains/dividends beyond those 800EUR, which at max is 45%, you just pay 25% regardless of your income - haha).