Geldanlage: Fondsmanager – „Für die Garantie zahlen Sie einen hohen Preis“

German investors struggle to understand the relationship between return and risk; otherwise, they would rely less on guaranteed products, according to investment expert Jan Viebig. After seven years as the head of investment strategy at Oddo BHF's private bank, Viebig became a fund manager in May. In his recently published book, "A Small Fortune for All," he explains how to wisely invest and build wealth over the long term.

Viebig believes the book is needed because there are not enough financial guides available. He notes that there are significant deficiencies in financial education in Germany, citing studies showing that half of the respondents could not correctly answer a simple question about compound interest. The use of guarantee products, which guarantee the return of capital at the end of the term, reduces risks but also long-term return potential.

Guarantees charge a high price: they invest only a small portion in stocks and generate much lower returns. For example, if an individual saves 200 euros per month for 30 years, they would end up with 93,800 euros with a Riester pension, compared to 366,100 euros with stocks, which historically return 9 percent per year.