Older people have a significant advantage when it comes to investing: they have accumulated a certain amount of wealth over the course of their lives.
Munich People who are considering or already enjoying retirement are in a special position when it comes to money matters. “Older people in particular are very worried about their money,” says Michael Huber, head of asset management at VZ Vermögenszentrum.
His job right now is to calm down. “Even if we now have an unprecedented situation on the markets, one should not question one’s investment strategy based on daily events,” advises Huber and, like many other money professionals, points out that no stock market or economic crisis has lasted forever.
Despite the turbulent times we are currently living in, older people have a significant advantage over younger age groups – but also a disadvantage. The advantage of older people is often that they have already accumulated some wealth over the course of their lives.
This may be a headache for many given the high inflation and looming recession. Nevertheless, savings also ensure security and open up financial leeway.
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