2024-01-18 22:02:36
Supposedly safe: Even in the safe, money loses purchasing power Image: dpa
Too much cash, too much checking account: Germans don’t handle their money particularly carefully. The purchasing power of savings is dwindling. There is another way.
The others let their money work for them, while the Germans work for their money. This statement comes from Allianz’s annual wealth report and explains why Germany is doing much better in terms of economic performance per capita than in terms of financial assets, where Germany is behind Italy and France, for example. The Bundesbank presented its quarterly financial asset statistics on Thursday. The Germans have almost 7.5 trillion euros on hand – an average of 90,000 euros per inhabitant, not counting real estate assets and not deducting debts (which are often taken out for real estate).
It is common practice in German politics, from former Federal President Joachim Gauck to Chancellor Olaf Scholz (SPD), to name savings accounts and checking accounts as preferred investments. Solid, without adventure, no turbo capitalists, that’s the message to the people.
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