A new study shows that almost every second feels financially dependent and more than a third even needs money. Especially affected: women and young people – while owners of effects are much better.
This is the result of a survey that Bawag has carried out among almost 1000 people. People who have invested in securities such as shares and bonds therefore see themselves as “autonomous” as “savers”. Nevertheless, classic savings products in this country remain the most popular form of assessment.
Not even every fifth sees itself independent
From the point of view of the respondents, financial independence is mainly created by autonomy in financial decisions. Say: not to have debts without help – for example by the state or family members – to be able to take care of themselves and to have sufficient upholstery for emergencies. Only 17 percent of the respondents, such as Thomas Csipkó, head of the Bawag industry activities,, however, adhered to the presentation of the study on Wednesday as completely independent.
The most important thing is full -time advisers and pensioners. Younger generations and women, on the other hand, see themselves relatively often dependent.
Start of value in the top destination in the event
If money is available for assessment, the goal is, according to the research results, in particular maintenance of the value and inflation compensation. A return falls into the background for most people. The desire for security is also reflected in the forms of investment: the savings book and the savings card (already used by 83 percent of the respondents), the online savings account (67 percent) and the Building Society contract (66 percent) are clearly running for investment funds (29 percent), shares (15 percent).
In general, skepticism with regard to effects, which often have a higher profit potential, is great in this country. “Supports polarization,” said Marcus Kapun, head of the global brokerage at Bawag. For many people, the fear of price fluctuations or losses dominates, which is then noticeable when choosing the form of investment. In many cases, people are also not aware of potential, such as the possibility of risk diversification and the resulting protection, according to Cupun.
Savings plans are underestimated
The potential of savings plan concepts on Exchange Trade Funds (ETF) is also underestimated. For this, the bank has modeled an investment plan for a fund in the last 20 years. The result: with a monthly investment of 100 euros (a total of 23,500 euros in deposits), there was a final amount of a good 69,000 euros – thanks to composite interest effect and despite the errors such as the financial crisis 2008/2009 or Corona Apemia.
Nine out of ten respondents lower the result in the survey. “In the short term we see great fluctuations on the capital markets, but in the long term a clear trend has been raised,” Bawag Finance Board Enver Sirucic summarized.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
