![](\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/06\/1782366612_329_8uQU.jpeg\")
<\/a><\/p>\nNov\u00e9 penzijko bude po zm\u011bn\u00e1ch sv\u00fdm \u201ev\u00fdtlakem\u201c por\u00e1\u017eet nejen dne\u0161n\u00ed penzijn\u00ed fondy, ale v\u00a0drtiv\u00e9 v\u011bt\u0161in\u011b p\u0159\u00edpad\u016f i\u00a0dlouhodob\u00fd investi\u010dn\u00ed produkt (DIP) nebo investov\u00e1n\u00ed na vlastn\u00ed p\u011bst do pod\u00edlov\u00fdch fond\u016f i\u00a0lacin\u00fdch burzovn\u011b obchodovan\u00fdch ETF fond\u016f.<\/p>\n
Kolik kter\u00fd produkt vynese? <\/p>\n
P\u0159edstavme si st\u0159adatele, kte\u0159\u00ed si ka\u017ed\u00fd m\u011bs\u00edc odkl\u00e1daj\u00ed tis\u00edc korun a\u00a0dal\u0161\u00edch p\u011bt set korun jim na penzi pravideln\u011b p\u0159isp\u00edv\u00e1 zam\u011bstnavatel. Jeden investuje v\u00a0nov\u00e9m penzijku, dal\u0161\u00ed v\u00a0sou\u010dasn\u00e9m dopl\u0148kov\u00e9m penzijn\u00edm spo\u0159en\u00ed, dal\u0161\u00ed maj\u00ed DIP a\u00a0jin\u00ed zkou\u0161\u00ed \u0161t\u011bst\u00ed na vlastn\u00ed p\u011bst p\u0159es ETF \u010di pod\u00edlov\u00e9 fondy.<\/p>\n
A\u017e se po p\u011btat\u0159iceti letech sejdou u\u00a0spole\u010dn\u00e9 ve\u010de\u0159e, budou disponovat v\u00fdrazn\u011b odli\u0161n\u00fdmi \u00fasporami. St\u0159adatel v\u00a0nov\u00e9m penzijku bude m\u00edt na kont\u011b 3,2\u00a0milionu korun v\u00a0dne\u0161n\u00edch cen\u00e1ch. To znamen\u00e1 v\u00a0kupn\u00ed s\u00edle dne\u0161n\u00edch t\u0159\u00ed milion\u016f. Nejv\u00edc ze v\u0161ech.<\/p>\n
Majitel dlouhodob\u00e9ho investi\u010dn\u00edho produktu (DIP) skon\u010d\u00ed velmi podobn\u011b. Klasick\u00e9 investov\u00e1n\u00ed do ETF (burzovn\u011b obchodovan\u00e9 fondy) – kter\u00e9 plat\u00ed za synonymum nejlevn\u011bj\u0161\u00edho investov\u00e1n\u00ed – u\u017e ale s\u00a0v\u00fdnosy v\u00fdrazn\u011b zaost\u00e1v\u00e1. \u201eInvestov\u00e1n\u00ed na vlastn\u00ed p\u011bst, do nejlevn\u011bj\u0161\u00edch ETF bez poplatk\u016f u\u00a0brokera vych\u00e1z\u00ed na dva miliony, co\u017e je o\u00a0v\u00edc ne\u017e milion m\u00e9n\u011b ne\u017e u\u00a0nov\u00e9ho penzijka,\u201c spo\u010d\u00edtal N\u00e1dvorn\u00edk.<\/p>\n
Co ud\u011bl\u00e1 takov\u00fd rozd\u00edl? Krom\u011b poplatk\u016f hlavn\u011b p\u0159\u00edsp\u011bvky st\u00e1tu a\u00a0zam\u011bstnavatele. Na rozd\u00edl od penzijn\u00edho spo\u0159en\u00ed a\u00a0DIP na n\u011b samostatn\u00ed investo\u0159i do ETF a\u00a0pod\u00edlov\u00fdch fond\u016f nemaj\u00ed n\u00e1rok. A\u00a0p\u0159ich\u00e1zej\u00ed tak o\u00a0dal\u0161\u00ed pen\u00edze, kter\u00e9 by se mohly – vedle jejich vklad\u016f – d\u00edky slo\u017een\u00e9mu \u00faro\u010den\u00ed des\u00edtky let zhodnocovat.<\/p>\n
\u201eETF nakoupen\u00e9 u\u00a0brokera bez t\u011bch da\u0148ov\u00fdch v\u00fdhod a\u00a0st\u00e1tn\u00edch p\u0159\u00edsp\u011bvk\u016f vych\u00e1z\u00ed l\u00e9pe ne\u017e nov\u00e9 penzijko a\u017e po 168\u00a0letech investov\u00e1n\u00ed. Tak\u017ee nikdy,\u201c vy\u0161lo N\u00e1dvorn\u00edkovi.<\/p>\n
Podobn\u011b v\u00fdpo\u010det vyjde i\u00a0ve chv\u00edli, kdy st\u0159adatel nem\u00e1 n\u00e1rok na p\u0159\u00edsp\u011bvek zam\u011bstnavatele. V\u00fdhoda nov\u00e9ho penzijka sice kles\u00e1, ale st\u00e1le z\u016fst\u00e1v\u00e1 velmi v\u00fdrazn\u00e1. Kdo v\u00a0n\u011bm z\u016fstane, dejme tomu od sv\u00fdch 30\u00a0let do penze, nashrom\u00e1\u017ed\u00ed i\u00a0bez bonusu od firmy celkem 2,3\u00a0milionu korun. <\/p>\n
Je\u0161t\u011b v\u011bt\u0161\u00ed rozd\u00edly v\u00a0kone\u010dn\u00fdch \u010d\u00e1stk\u00e1ch se budou t\u00fdkat lid\u00ed, kte\u0159\u00ed za\u010dnou spo\u0159it v\u00a0mlad\u00e9m v\u011bku. Ministerstvo financ\u00ed toti\u017e mlad\u00fdm st\u0159adatel\u016fm zdvojn\u00e1sob\u00ed st\u00e1tn\u00ed p\u0159\u00edsp\u011bvky. <\/p>\n
DIP m\u016f\u017ee tak\u00e9 vyj\u00edt draho<\/p>\n
Konkurentem nov\u00e9ho penzijka bude i\u00a0dlouhodob\u00fd investi\u010dn\u00ed produkt, zn\u00e1m\u00fd pod zkratkou DIP. Ve skute\u010dnosti ale nejde o\u00a0konkr\u00e9tn\u00ed produkt. Je to vlastn\u011b da\u0148ov\u00fd re\u017eim. Ob\u00e1lka, v\u00a0kter\u00e9 si klient m\u016f\u017ee dr\u017eet ETF, pod\u00edlov\u00e9 fondy, dluhopisy nebo dal\u0161\u00ed investice. To p\u0159in\u00e1\u0161\u00ed v\u011bt\u0161\u00ed svobodu, ale tak\u00e9 v\u011bt\u0161\u00ed odpov\u011bdnost.<\/p>\n
Zat\u00edmco nov\u00e9 penzijko m\u00e1 b\u00fdt nastaven\u00e9 jako jednoduch\u00e9 \u0159e\u0161en\u00ed pro v\u011bt\u0161inu populace, u\u00a0DIP si mus\u00ed \u010dlov\u011bk pohl\u00eddat poplatky, investi\u010dn\u00ed strategii i\u00a0slo\u017een\u00ed portfolia. A\u00a0pr\u00e1v\u011b tady podle N\u00e1dvorn\u00edka mnoho lid\u00ed naraz\u00ed.<\/p>\n
\u201eDIP pro v\u00e1s m\u016f\u017ee skon\u010dit pom\u011brn\u011b draze, proto\u017ee se hodn\u011b mus\u00edte d\u00edvat do cen\u00edk\u016f. Ty nejsou dost \u010dasto p\u0159ehledn\u00e9. P\u0159ijdete na to, \u017ee je to mnohem dra\u017e\u0161\u00ed ne\u017e to nov\u00e9 penzijko.\u201c<\/p>\n
Proto podle n\u011bj DIP d\u00e1v\u00e1 smysl hlavn\u011b pro lidi, kte\u0159\u00ed se investov\u00e1n\u00edm cht\u011bj\u00ed aktivn\u011b zab\u00fdvat. \u201eP\u0159ijde mi, \u017ee ten DIP je pro lidi, kte\u0159\u00ed si ty v\u011bci um\u011bj\u00ed rozmyslet, cht\u011bj\u00ed rozmyslet a\u00a0cht\u011bj\u00ed se t\u00edm n\u011bjak zab\u00fdvat.\u201c<\/p>\n
Autopilot pro masy<\/p>\n
Jen\u017ee cel\u00e1 \u0159ada lid\u00ed nem\u00e1 kapacitu vytv\u00e1\u0159et vlastn\u00ed investi\u010dn\u00ed strategii. Nevyznaj\u00ed se v\u00a0investic\u00edch, nemaj\u00ed \u010das je hl\u00eddat. Pro takov\u00e9 tu bude strategie \u017eivotn\u00edho cyklu. Jde o\u00a0model, kter\u00fd se u\u017e \u0159adu let pou\u017e\u00edv\u00e1 v\u00a0zahrani\u010d\u00ed. <\/p>\n
Mlad\u00fd \u010dlov\u011bk investuje p\u0159ev\u00e1\u017en\u011b do akci\u00ed, proto\u017ee m\u00e1 p\u0159ed sebou dlouh\u00fd investi\u010dn\u00ed horizont. Jak se bl\u00ed\u017e\u00ed d\u016fchod, portfolio se postupn\u011b p\u0159esouv\u00e1 do konzervativn\u011bj\u0161\u00edch aktiv. C\u00edlem nen\u00ed jen maximalizovat v\u00fdnos. Stejn\u011b d\u016fle\u017eit\u00e9 je zabr\u00e1nit tomu, aby lid\u00e9 v\u00a0panice prod\u00e1vali investice b\u011bhem propad\u016f trh\u016f.<\/p>\n
Podle N\u00e1dvorn\u00edka toti\u017e nesta\u010d\u00ed vytvo\u0159it teoreticky nejlep\u0161\u00ed portfolio. Je pot\u0159eba vytvo\u0159it portfolio, kde lid\u00e9 skute\u010dn\u011b vydr\u017e\u00ed dr\u017eet n\u011bkolik desetilet\u00ed. <\/p>\n
Kdo je v\u00fdjimka? <\/p>\n
N\u00e1dvorn\u00edk p\u0159ipou\u0161t\u00ed, \u017ee existuj\u00ed skupiny investor\u016f, pro kter\u00e9 bude i\u00a0nad\u00e1le d\u00e1vat v\u011bt\u0161\u00ed smysl vlastn\u00ed investov\u00e1n\u00ed do ETF. Jde zejm\u00e9na o\u00a0lidi, kte\u0159\u00ed u\u017e maj\u00ed vybudovan\u00fd majetek v\u00a0\u0159\u00e1du milion\u016f korun a\u00a0st\u00e1tn\u00ed podpora pro n\u011b p\u0159edstavuje jen malou \u010d\u00e1st celkov\u00fdch \u00faspor.<\/p>\n
Pro b\u011b\u017en\u00e9ho zam\u011bstnance, kter\u00fd si na d\u016fchod odkl\u00e1d\u00e1 ni\u017e\u0161\u00ed tis\u00edce korun m\u011bs\u00ed\u010dn\u011b, ale vych\u00e1z\u00ed v\u00fdsledek jednozna\u010dn\u011b. \u201ePro v\u0161echny, kdo m\u011bs\u00ed\u010dn\u011b spo\u0159\u00ed do 5700\u00a0korun, bude nov\u00e9 penzijko prost\u011b v\u00edt\u011bzn\u00e1 volba.\u201c<\/p>\n
Ve vat\u011b<\/p>\n
Podcast novin\u00e1\u0159ky Mark\u00e9ty Bidrmanov\u00e9 a\u00a0jej\u00edch host\u016f. Poslechn\u011bte si rady zn\u00e1m\u00fdch investor\u016f a\u00a0odborn\u00edk\u016f na t\u00e9ma investic, inflace, \u00fav\u011br\u016f a\u00a0hypot\u00e9k. Finan\u010dn\u00ed \u201ek\u00e1p\u00e9zetka\u201c pro v\u0161echny, kter\u00fdm nejsou pen\u00edze ukraden\u00e9.<\/p>\n
P\u011btin\u00e1sobn\u00fd v\u00edt\u011bz ankety Podcast roku v\u00a0kategorii Byznys a\u00a0osobn\u00ed finance. <\/p>\n","protected":false},"excerpt":{"rendered":"Milion korun nav\u00edc na d\u016fchod? Podcast Ve vat\u011b porovnal chystan\u00e9 nov\u00e9 penzijko, DIP, ETF i\u00a0pod\u00edlov\u00e9 fondy a\u00a0spo\u010d\u00edtal, kam…\n","protected":false},"author":2,"featured_media":128910,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[7],"tags":[43,42,41,40,23256,14382,6461,24285,470,789,3576,5417,12555],"class_list":["post-128909","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cesko","tag-ceska-republika","tag-cesko","tag-czech-republic","tag-czechia","tag-dlouhodoby-investicni-produkt-dip","tag-doplnkove-penzijni-sporeni-dps","tag-etf-exchange-traded-fund","tag-lukas-nadvornik","tag-penzijni-sporeni","tag-podcast","tag-poplatky","tag-reforma","tag-ve-vate"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116809185663300651","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/128909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=128909"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/128909\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/128910"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=128909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=128909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=128909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}