Bank/investing money – risks?
Hi, I recently had a consultation with my bank. They recommended that I invest some of the money from my savings account/current account. One option was to invest the money for at least five years. So, start with a large amount (e.g., €500) and then add at least €25 each month. The interest rate would be 6%.
At first, it sounded good, as if those 6% wouldn't change. But now I'm wondering: Aren't those 6% also tied to some stocks? So if the stock falls, so does my interest rate. What's the catch, or rather, how does the bank profit if I invest my money this way?
Can the bank issue me a contract that ensures the 6% interest rate is maintained for the next 5 years?
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Sounds like a security bill. There are different, with or without shares. I’m tapping predicted 6%, not guaranteed.
What about the bank? Yeah, sure. But you may. I started a savings plan this year too. I dare to doubt whether it actually rejects 6%, but it is possible. I already had funds with which I earned 40% in 7 years and which were then minus. All possible, but then you need some patience before you sell.
Last year, I invested really in stocks for the first time (approx. 20,000). Overall, this is currently about 20% in minus. But as long as I don’t sell, it doesn’t matter. Nevertheless, for the first time this year I have the “problem” that my release order is not sufficient by the realized price gains.
Clear your questions again with your advisor. It’s not a shame. 😉
Why didn’t you ask if the 6% are safe and how they are managed?
I don’t think they’re safe, because they’re throwing safe facilities max. 4% off.
That is why it would be only a promise which must not be respected. They tell you that in the past the 6% was achieved in the year and expects this to rise to the future. That’s disgusting.
You should have asked how your money will be invested. You missed that, so you lack basics about the financial product to really appreciate it. I’m just wondering how you can only be so naive and can go back without any information about the facility….The conversation was for the cat!
Okay, okay, okay. Ahahaah, cristl10, did you get up with the wrong foot today? Thank you for your detailed, polite and very nice message!
I don’t think I have to justify myself here. First of all, you seem very badly able to put yourself in the position of others and only to see the surface. How do you want to know what’s going on in another’s life?
Look, Christ. I came to the appointment of the consultancy from all the other things that were to be done. We only came after my money and we started to talk about it. Why do I ask my question here? Since I want to ask the right questions for my next appointment with the same consultant who will soon arrive, so I don’t forget. In addition, I had asked what such risks exist, only he gave me an insufficient answer. I didn’t miss anything, nor do I miss basics, I’m just careful and slow on my way.
I think that’s why the impression I’m so naive is that I’ve come to someone who’s in a hurry to judge. I don’t like people so much who make themselves too fast a verdict without thinking.
I wish a nice day.
Yet it seems to me that you have no idea about the product that you were gennant.
I think it was recommended for you to invest in a fund-saving contract. 6% Certainly there is not, you should ask again. There can also be a loss depending on which fund is saved. In addition, you should know that any purchase will result in an output sleep of up to 6%. So you won’t earn anything in the first Jahe, as the rash eats the returns. But let yourself be enlightened in detail, then you will be a little smarter or not!
Well, I’m still quite young and I’m just really getting in touch with these topics. Of course I’m not in there yet. And now? Who doesn’t ask is stupid. But you don’t seem to be so familiar. How can you judge me for asking a question? Isn’t that as if something had already been signed and would be very enthusiastic about the idea. No, I’m questioning. Crack, right? Everyone has to start sometime. I don’t understand why you have to say that I’m so naive and have no idea.
And I also know I won’t make any money at first. Yeah, christl, so to explain your way, I can recommend something like that. You’re my biggest model. It’s a shame that I’m going to get back to the bank, and from now on I can’t keep you as an informant. Just a pity 🙂
6% are currently a very good interest rate. The bank can offer you such an investment method and guarantee 6%. Ultimately, she uses your money to make other business (giving money for 9%, securities etc).
However, you should read the facility carefully and ask your bank advisor.
If you get 6% guaranteed would initially take a large part of the unneeded money.
So the bank would initially take a large part of the money from me for any business? But the contract ensures that I really get the interest guaranteed for several years? Or are there any dangers and risks I don’t have on the screen? What happens if the bank is bad, is it still in duty to give me this 6%?
This can only tell you your bank. What’s important is what’s in the contract. For a bank, the risk of a guarantee interest at five-digit sums is very low.
Of course your bank is working with your money right now. Your interest has to be generated.
In Germany there is the deposit guarantee fund. Balances below 100,000€ are secured in a bank splice
There are no bank advisors. There are only sellers in the bank. Read the product conditions completely and also look at the cost of the product. Just shut it off when you understand it and make sure it is the right thing.
Sparkasse products are often associated with high final and product costs. There are usually much more favorable solutions, especially if the “only” is an ETF schedule on the MSCI World, for example.
She can. You must look at the draft contract as to whether there is a fixed interest rate of 6% over the entire term.
But the interest is eyewitness. What is decisive is how much money you get paid out at the end. Since long banks like to pay fees and other costs, which unfortunately are often only mentioned in general but not specifically mentioned. It’s best to show you an example calculation from which you can see how much you’ve paid in total, and how much you’ve actually paid out in the end.
Thank you for your answer. So I should like to call the bank an example amount that I would possibly really pay in and then calculate the final amount for, for example, 5 years? So does the bank not have to mention fees and other costs in the contract or is it in the “small print” in one corner?
Yes
She must mention that fees are incurred. It also makes it somewhere on the probably multiple-page contract. I do not know whether they have to specify what the fees are. It doesn’t matter. In the example calculation, you see how much you pay and how much you get paid out.
6%??????????
I’m really serious, I don’t know if I’m stupid. But it’s even on a sketchbook where the consultant explained everything to me. Sparkasse. By the way, there were different models of application.
In my opinion, you did not understand what it is about, because 6% of sure there is not. There are enormous risks behind this.
Other product, other condition. 😉
It won’t be a day money.
I think
But I don’t think he’s making money. If a product guarantees 6%, the name would be interesting
I find my question is appealing and correctly formulated in terms of content. I never assured that I would believe anything, but only describe my situation in accordance with the same. Anyone who does not understand this is probably bad in the content recording of a simple text.
So… why not? Then you should have asked your question a little different.
I’ve never met anyone who doesn’t understand any irony. But from minute 1 I speak absolutely sarcastically with you, christl10 because you don’t deserve it otherwise. Empty accusations deserve stupid reactions.
Once again without irony, for the (christl10) who have not understood it yet: I am not stupid, naive or fall on something pure. I don’t trust the bank blindly or otherwise. I want to understand what stitches are behind it and what possibilities I have. I respectfully ask, and I want to be treated with respect. Bye.
You’re going to take my arm? There is no safe 6% interest or return. Don’t be so stupid and believe it!
Honestly, I still believe in Nicholas. I mean, my parents said there was him. So give it. Yes and definitely I expect the 6%. I definitely wrote it the same way. Ne, ne, I didn’t specifically ask the question so to get answered what I can actually expect because I don’t believe in the 6%. The 6%, so an offer. You can tell yourself twice, ne? A gifted pale you look in the mouth as my grandma always said.
That’s exactly what I’m talking about… trusting the consultant like a 90-year-old grandma. I trust you after I read that you expect a 6% interest rate…. You can also tell everything.
Oh, thank you, I’m looking forward to it. The bank and me, we’re a team. I trust her my GANZES LEBEN. I’d never ask what she’s proposing. Direct contract and sign.
You’re someone who likes the bullshit you tell in the bank. Have fun when you’re crying when you lose money.
Christl, maybe I didn’t understand anything. But I understand. You don’t think I understood anything. Really? Risks? I didn’t expect that. wow
Fixed money is no longer available at all banks. Would also be nix with monthly savings.