Lets start with a simple question: Who should be in charge of your finance topics?
YOU! YOUR VERY SELF! (I hope you came to the same conclusion)
With banks reducing the staff and closing their subsidiaries,the chances are high that it will soon be common to take care about the financial future all by your very self. Websites like this could help, same goes for websites who compare and value financial products
It´s somehow strange that in todays society we search for hours for bargains to safe a few bucks when buying a new thing, like a TV or a mobile phone, but we do not invest time to learn about our financial long term future. Why is it like this? I already heard all kind of excuses, like “I´m too young, too old, not rich enough” til “Finance is boring” or “Finance is for Bankers”. May we should rename it, “Money is boring” doesn´t sound so convenient, same goes for “Money is just for Bankers”, or even more strange “I´m too old, too young for money”. We live in a world where money/cash is important and finance and economics are the key to deal with this important good.
We gave a simple piece of paper a value and now we decided to live under his rules. Nowadays it´s even more untangible, we work with numbers on computer screens that tell us if we can afford to go for a dinner or if we have to eat noodle soup again.
It´s not necessary to start with 500K to get involved in the world of economic trading, it could start by simply not going out for a weekend and donate the saved money to your account. If you do that twice a month, you may have already have enough money to start a monthly investment plan, e.g. with a Fonds. This very basic way of getting started is even possible when in debts. Of course getting rid of your debts is more important, but even there, small amounts are possible to lay aside. Lets not forget the other side. If you already have “enough” money, and you totally trust your Banks advisor. Thats 100% ok, but it could also be an asset to you if you know what this guy (or woman) is doing with your money. Don´t get me wrong here, Bank employees that are reliable, trustworthy and skillfull advisors are worth their weight in gold, but they have become rare, also because of the decreasing of employees at all. Banks close their subsidiaries and there goes the talent and the knowledge. One more reason for you to get into the topic!