The right time to invest
The Early Bird Lifts the Barbell
Wake-up at 5.15am. During the week, with two small children, this is the only possible “me time” that the day offers. What do my wife Kerstin and I use it for? Maintaining physical aptitude, i.e., fitness in the morning. Who would think otherwise?
According to relevant studies, strength is a reliable indicator of longevity. Therefore, it is very beneficial to start exercising regularly at a young age. Those who do not start daily exercises until they are 70 years old must exert significantly more willpower to improve their physical fitness. The state of one's personal condition can be seen in the simple example of a handshake. The strength of the grip provides surprisingly good information about the fitness level of the person concerned. Pay attention to this the next time you shake hands. Or are we already in the post-corona phase with Namasté?
Acting with foresight
It is similar with the topic of investing. If you only start thinking about how best to invest your money when you sell your business, real estate or retire, you will have a much harder time than others who have decades of experience.
You can read a lot and talk to a lot of people on the topic of fitness and investing. Additionally, you can watch YouTube videos and listen to podcasts. But the know-how only comes from a practical application over a long time.
Anyone who thinks they can easily take the strain of a big bear market should exercise humility. We humans are not very good at imagining these things. Living through it is an entirely different matter.
The stock market is a complex system consisting of a myriad of variables. It is the sum of all the emotions and experiences of millions of market participants acting in different time frames. What the stock market will do next week, next month or next year, nobody knows. Dealing with this uncertainty is easier said than done.
Better now than never
The topic of investing money often only comes up when a large amount suddenly needs to be invested. It may have arisen from a property sale or an inheritance, for example. Then it is a matter of quickly climbing the learning curve. Nevertheless, it would be even better to enter the race armed with experience and knowledge.
That's why I am a big fan of already introducing children to the topic of finance. Shares of a company that makes their favorite toy, that produced the movie they have already seen ten times, or perhaps that produces their favorite chocolate. This creates an emotional connection. A fund savings plan is also an easy way to do this.
It can be started in childhood or as a teenager, when entering the workforce, starting a family, or whenever thereafter. The right time to deal with your own finances is now.
We are here for you
Whatever your level of knowledge and whatever your age, we at Gutmann are ready to support and guide you.
Because private banking at Gutmann offers one thing above all: people with whom you can talk about everything that concerns you about money, investments, retirement planning and beyond.
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