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"It is never too late to save," says stock market expert Beate Sander, 82. "As little as 25 euros a month is enough." The retiree, who became a millionaire with her investments and wrote over 50 books on finance during her retirement, gives tips on how to get more out of your pension - even if you haven't put anything aside until then.
Tip #1: Knowledge, knowledge, knowledge
Beate bought her first stock at age 59. Now, with over 20 years of experience, she knows that the first thing you need is the right kind of expertise in all aspects of saving and investing before you even get close to the stock market. "You have to read books! That's the only way to get basic knowledge and good basic skills. Once you have that, you can get the latest information on the internet.”
Tip #2: Start step by step
Sander advises beginners not to start with individual shares, but on exchange-traded funds (ETFs) to minimize risk. "Broad diversification and an international orientation that also pays off in a crash. If you start now, you could start with five or six ETFs.”
Tip #3: Scan the market and think carefully
The German MDAX (for medium-sized companies) is preferable to the DAX for beginners. "There are good companies in there that operate sustainably. In a 15-year comparison, they performed twice as well as the leading index.” She also recommends that investors look for a combination of the Austrian ATX and the German MDAX, for example, and to look at the MSCI World Index, where the largest companies are listed.
Tip #4: Weigh the total
“From as little as 25 euros a month, you can save,” says Beate Sander. "There are savings plans that start with very small sums where you can invest long-term. Of course, you can also invest over 1000 euros in a single security.”
Tip #5: Focus on sustainability
"If I want to invest in sustainable businesses, there are certainly interesting offers for seniors too. For example, businesses that do something against climate change or ETFs focused on water. Then you can own an investment with a clear conscience.” After all, the money you put in stocks is equity for companies. “You can use your money to support renewable energy infrastructure or new, socially responsible business models."
Tip #6: Don't panic
The inventor of the so-called "high-low courage strategy" does not panic even when prices are falling. "I don't sell my portfolio when prices are low but buy new shares step by step. Even in a crisis, there are individual shares that have had takeover bids that have not gone down," she says.
Tip #7: Always adjust
"The brave deserve some luck. So do the diligent." Sander knows this from her own experience. She recommends not only waiting, but also scanning the market again and again, keeping an eye on the economic situation and reacting to it if necessary. "Standing still is not wise." Even with long-term investments. She likes to compare portfolio rebalancing with gardening: "You can only harvest if you sow, weed, and irrigate at the right time.”
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