OPINION! Financial expert Stefanie Kühn: "If you want to be independent, you have to understand your investments"

"If you don't want to be dependent on bank advisors, you have to learn to understand your investments yourself": In an interview, financial expert and author Stefanie Kühn talks about the logic of the financial crisis, the individuality of investments and the Lust on your own property.

Stefanie Kühn is a Certified Financial Planner and has been advising with her company Private since 1999 financial planning Kühn eK clients independently on a fee basis. For the magazine “Euro Finance” counts Stefanie Kühn among the “Financial Advisors of the Year”, including one of the “Top 10 Financial Advisors” in Germany. Stefanie Kühn has written several guides, including Gelassen in die Future or A man is not a fortune.

Frau Kühn, all seem to be surprised by the financial crisis. Was not that really clear?

The Crisis itself doesn't surprise me, but its extent does. I see the global crisis beginning in the summer of 2007 when the US housing market collapsed completely.

When the IKB Deutsche Industriebank almost went bankrupt as a result, it became clear that there was more at stake here than a US-specific issue Problem. And from the beginning of 2008 at the latest, extreme caution was called for: That's when the long-term upward trends broke and put an end to the years of steadily rising share prices.

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These were in fact clear signs. Why was there little of caution?

Anyone who was still optimistic about their purpose at the end of 2007 should no longer call themselves a “stock market guru”. And the “experts”, who saw the time to enter the stock market in the DAX between 2008 and 6.500 points in the spring of 7.000, were more likely to have an eye on their sales.

Because the withholding tax was approaching and before that it should probably be right Turnover be made with the sale of funds of funds and the like. However, there was no positive news for a real trend reversal.

There will always be the ups and downs on the stock markets. What is the best way to behave?

I advise every investor to themselves as much Background to appropriate to yourself decide to be able to know which share quota will still let him sleep peacefully. Only those who understand their systems will keep them Control about his Money. And many a person would perhaps sooner part with a product than a bank advisor thinks.

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It's not called “personal” risk-taking for nothing. There is no patent recipe that can be created from a few ticks on a form. Rather, it is important to find out about your own attitudes towards Risks and to get clear about the money. That also includes klare Regulate for an exit: At x% loss it's over. And these rules only have to suit you.

So far, so clear. But the stock market is probably synonymous in less turbulent times not really what faint nerves, right?

Anyone who cannot deal with the usual fluctuations on the stock market is simply better off with a fixed-term deposit. If that's more his Personality corresponding, it's not boring, it's totally in Order.

My clients are often really exempted when they realize that they don't have to buy stocks to keep their financials up Set to reach. And the best thing for me is: you will figure it out all by yourself!

Times of hand on the heart: when it comes to money, we all want our best ... What makes your advice different from that of a bank?

Banks and most independent financial service providers live from the commissions they receive once when they sell their financial products and then as so-called portfolio commissions. I do not broker any financial products, but advise independently. Similar to lawyers or management consultants, clients pay a fixed hourly rate.

In return, they have the certainty that I am really optimizing their finances, not my commission. I also advise clients against investments that do not suit them. And of course from those who don't understand them. “Bold” investors eventually take their finances into their own hands Hand. Despite the fee, this usually saves them a lot of money.

What is the core of the “Kühn strategy for financial independence” that you describe in your current book?

It's not about getting as rich as possible, nor with more or less secret ones Tricks if possible fast accumulate the first million euros. In fact, I have seen time and again that almost every client has their own ideas about financial independence.

Based on these experiences, I have developed a scenario technique and show the reader which individual investment strategies suit their ideas. For the Success of Strategy but everyone is responsible for themselves - "taking care of yourself makes you rich" is my motto here.

Many people are currently very concerned about retirement provisions under the heading “Do you want to cry now or later?” to treat. Most don't want either ...

Of course not. That is why I urgently advise you to start thinking about tomorrow today. Of course, it sounds great to only want to take care of your hobbies at the age of 55. Very few, however, make it clear what financial reserves are necessary for this. Anyone who wants to maintain their current standard of living in 20 years' time will need almost double that due to inflation alone.

However, his income increases only moderately or not at all. So who used to be stop wants to work, now has to take care of his financial cushion all the more intensively. This is the only way everyone can see what is feasible and what is not. If the result is disappointing, you can take countermeasures now and set the financial course – or set yourself more realistic goals.

Pretty sobering. Does money not only affect the friendship, but also the fun?

On the contrary! Everyone is happy when they have achieved something. Why shouldn't that be the case with money? You just have to deal with it. who with “his” system collects the first increases in value or interest, who usually wants “more of it” on their own.

I have clients who really tasted blood. And of course I am also happy to see that more and more people prefer to take their financial fate into their own hands: In the summer of 2007, around six new clients came to me every month. Today there are more than twice as many.

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