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Re: Vermögensplanung

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Vermögensplanung
Answer
8/23/07 10:54 PM
Dear Members,
I am thankful for all the member/ advisors for sharing vital information in this forum.
There was a guy, from a private company (Vermögensplanung), who said he would like to help me in my financial planning, that too for free. He said he advises me on buying some safe or Risky investments, so that i gain not liq.cash but a reduction in taxes and save a bit. And he benefits from the economy. He said normally a bank invests cheap money (from us) over the world market, get 30 % returns and give us only 3%. He said, "Here they have more freedom and the returns are higher".

When someone already encountered such a situation, kindly advise me if I can allow him to plan my finance.


thanks in advance!
prasad.
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Re: Vermögensplanung
Answer
8/24/07 12:11 AM as a reply to kasturi vamsi.
Hi Prasad,

There was a guy, from a private company (Vermögensplanung), who said he would like to help me in my financial planning, that too for free. He said he advises me on buying some safe or Risky investments, so that i gain not liq.cash but a reduction in taxes and save a bit. And he benefits from the economy. He said normally a bank invests cheap money (from us) over the world market, get 30 % returns and give us only 3%. He said, "Here they have more freedom and the returns are higher".

When someone already encountered such a situation, kindly advise me if I can allow him to plan my finance.


In theory, you can do this investment without any help of technical support like this. The only thing you need is online banking account from your bank through you can do the investments you want. Then look on internet, read financial news a little. After while you will be able to make your own investments on your own.

Another thing is, be very careful with the investment instruments they offer. At the moment the mortgage crisis in US has a negative influence in all stock exchanges in the world. You must read the offers very carefully because they sometimes offer investments to the customer's disadvantage, which is bad.

Shortly speaking, investments in developed countries have less profits but less risks. Investments in developing countries have bigger profits but higher risks. No matter which instrument you take: fund, stock options, gold etc.

Klenze17.
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Re: Vermögensplanung
Answer
8/24/07 1:44 PM as a reply to kasturi vamsi.
thank you klenze,
your reply was informative and prompted me to play it safe. For the income, I receive I felt I can do some small investements for which a professional planner isn't necessary.

Thank you emoticon
Prasad.
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Re: Vermögensplanung
Answer
8/24/07 2:30 PM as a reply to kasturi vamsi.
By now you would have found out that nothing is free in this world. Why would he help you for free? Is he your close friend of relative to trust him when he says that? He gains from improved economy is plain BS. Does he survive on donation?? Be careful with your hard earned money.
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Re: Vermögensplanung
Answer
8/24/07 4:44 PM as a reply to kasturi vamsi.
By now you would have found out that nothing is free in this world. Why would he help you for free? Is he your close friend of relative to trust him when he says that? He gains from improved economy is plain BS. Does he survive on donation?? Be careful with your hard earned money.

Raj is 100% correct here, I must agree. Nobody will help you for free, especially in Germany. Work in developed countries like Germany is not "cheap" as in developing countries where come from.

Some other hints: "Professional planners" who call you are mostly not professional. They do not need to be professional because we are finally "Mittelstand" (middle class) people in Germany. We don't earn so much money that we need "professional" suppport. If you earn 1.000.000 a year, then it would be worth having it.

Take customer consultants of banks in Germany for example (Kundenberater/in). I had one. She did advise me to buy some instruments, which later then failed. That means, she did not have any idea. God bless I anticipated that and resigned before I lost my money.

Don't trust anyone blindly who call you for your financial issues.

Klenze17.
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