You could say Beate Sander, 82, is a workaholic. Right now, during the Corona crisis, she barely gets four hours of sleep a night she says cheerfully. She has so much to do. Giving interviews, holding webinars and keynotes, writing columns, pushing her own books projects. She simply doesn't have the time - or the desire - to twiddle her thumbs. After all, she wants to publish her new book "Richtige Geldanlage in Krisen und im Crash" (The right investments during crises and crashes) by the end of May.
Beate Sander, affectionately called the “Stock Market Grandma”, is a German financial expert and bestselling author. And rich. However, she only came into her fortune after she retired from her career as a teacher. She bought her first share at the end of her 50's. Then she bought a few other shares, then millions. Soon she wants to reach her third million, she says openly.
Rich in retirement
The 82-year-old has always loved writing and when she retired, she started a completely new career. She has probably earned more money with her smart investments than her entire previous career. Her book, "Der Aktien- und Börsenführerschein", is now in its 10th edition.
How do you do that? And how can people who have not saved up a financial cushion still increase their capital?
We asked her.
WisR: Ms. Sander, is there such a thing as last-minute tips or is it already too late, shortly before or after retirement, to worry about a financial cushion?
Beate Sander: It is never too early and rarely too late. It's no good if you're 60 and someone tells you: "You should have started doing something 30 years ago." We’re all living longer due to demographic change so there’s still a lot of time. It all depends on how much money, knowledge, time and desire you have to do something about your capital growth. There is nothing worse than living on a meager pension for 30 years and not being able to afford a good life. This needs to be addressed.”
How? Not everyone has savings and women in retirement are also often affected by poverty in old age.
A lot of this has to do with education. In the past, girls often had to deal with children, the kitchen, and the church. If you had a resourceful man, you could neglect your education. But as a woman today, you must always be aware of: ...what will it be like if I'm not married? Or if I don’t inherit any money?
"It's never too late to save your own money so that one day you won't have to rely on social security."
Many people, like you, are now working during their retirement. This also improves the finances.
If people live longer, the start of retirement could be delayed. On average, people live twelve years longer. So why not work longer? Of course it also depends on what kind of job you have.
"Work is not a punishment or a burden if you enjoy it. I work 100 hours a week, believe it or not."
But you can also work less such as on a part-time or voluntary basis. The higher qualified you are, the easier it is. I know older doctors who work part-time, or car repair shops that bring their experts back from retirement - and they come because they enjoy their work.