Investment: Financial advisor Looman: "I rent and I'm happy with it"
For decades, Volker Looman has been telling the Germans what they should do with their money. Which tip would the financial analyst have paid for himself?
Financial advisor Looman has been dedicating his entire career to money, but he is not happy about it. Throughout his 40-year career, he has advised around 2000 individuals, with the majority being millionaires whose wealth ranges between one and 100 million euros. The wealthier the person, the unhappier they seem to be. Recently, a 20 million euro account holder with a recent cancer diagnosis expressed that despite having the money, he is not happy.
While he is grateful to have the money, the fear of losing it all due to potential wealth taxes and confiscation keeps him on edge. During times of market crashes, like during the COVID-19 pandemic or the Ukraine war, people focus on the losses rather than the remaining wealth. Looman observes that people live in a constant state of anxiety and struggle to enjoy life.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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