Financial advisor discloses pre-deadline advice for handling daily income: the suggested action - reportedly impracticable!
In a recent conversation, Robert Halver, the head of capital market analysis at Baader Bank, shared his insights on navigating the current economic landscape. Halver emphasised that inflation is likely to be significantly higher than instant-access account interest rates, making it crucial for savers to find ways to make their money work hard enough to avoid losing wealth.
Halver recommended investing in equities as an alternative to instant-access accounts. He argued that relying solely on instant-access account interest rates could lead to real wealth losses, especially as top rates are expected to fall further. However, he also acknowledged that instant-access accounts and money market savings are suitable for saving and serving as a reserve and safety net.
The expert also suggested considering the yields on corporate bonds when the long end of bonds goes down, which could benefit from an economic recovery. Investors should also consider stocks and corporate bonds, he added.
Halver also highlighted that shoppers would see that goods have become much more expensive, and the official inflation rate doesn't reflect that. He suggested that the real inflation rate is likely to be significantly higher than the official one.
In a surprising turn of events, the European Central Bank (ECB) is expected to cut interest rates by 0.25 percentage points on Thursday. This move could potentially impact the interest rates on instant-access accounts.
For those interested in the tech sector, a new article titled "Microsoft, Apple ... - These Tech Stocks Dr. Hendrik Leber Would Buy - and Which Ones to Avoid" is now available.
Despite the challenging economic climate, there are still quite good interest rates on instant-access accounts. Investors and savers can see these rates in the BÖRSE ONLINE Instant-Access Account Comparison.
Halver concluded by urging savers to look for ways to make their money work hard enough to avoid losing wealth. The full conversation with Robert Halver, where he discusses the new realities at the stock market, interest rates, stocks, gold, and how investors can best adapt to these, is available now.
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