How do I get rich at 35
Stock exchange expert Rüdiger von Rosen : "You won't get rich with the 35-hour week"
Mr. von Rosen, how do you get rich faster: buy shares or start a company?
There is a well-known song: I would love to be a millionaire! So some of them have come a long way with singing. And football players' salaries shouldn't be despised either. Or take a look at Dirk Nowitzki's income!
But what do I do when I can't sing, play football or basketball?
The classic way is probably still entrepreneurship. That has always been the case, even in the past it was not the professors or doctors who amassed the greatest fortunes, but the sugar baron or the steel baron. However, this is still a path today that is partly marked by great privations. There is a long way to go from the first idea to implementation. This is a process that leaves many behind. A maximum of five percent of the founders make it through.
What deprivations do you mean exactly?
Take security, for example. One of the greatest challenges is probably being able to bear the risk that an entrepreneur takes on in the start-up phase. You first have to collect money and raise capital from friends and acquaintances or professional investors.
I was more likely to think of less time for family and friends.
That makes things even more difficult. But it's similar in other professions. You won't get anywhere today on a 35-hour week. Not even as a journalist! In fact, as an entrepreneur, you have 60-hour weeks or more from day one. But maybe not everyone perceives that as deprivation. After all, you have a lot more freedom than in other jobs and at least you have the chance to lead a completely different life at some point and to maintain a lifestyle that can hardly be achieved in any other way.
Nevertheless, experts complain that too few are being founded in Germany.
That is right as well. Because the entrepreneurial spirit is conveyed far too little in this country. Even at school, in economics - if there is any - you should not only learn to analyze economic risks. It should be made very clear: How do I start a business?
May I interpret your remarks in such a way that I will probably not get rich with stocks alone?
In order to be able to make a lot of money with stocks, you need a foundation on which to build. An own company would be such a basis. It is best to only use money on the stock market that you are not dependent on. And you should get detailed information about investments. There are studies that show that Germans gather information on average 35 hours before they buy a car. By contrast, they only spend an hour on investing.
What are the future markets that one should rely on?
The changing composition of the Dax over the past 30 years shows how dynamically the economy is changing. At the moment I would ask myself: What will the digital transport models of the future look like? Will there still be individual traffic as we know it with the car? I think that there will soon be world market leaders in the fields of biotech, mobility and IT that we don't even know about yet. But the most important thing about the stock market is to think long-term. The historical comparison shows that stocks are a good investment in the long run.
Do I have to study to get rich?
A definite no. To grow up in entrepreneurship, at least not. And even if you think in smaller dimensions, the skilled worker or craftsman now usually earns more than the 50,000 euros that an academic brings home on average each year.
And what about the good German virtue of saving?
There is a saying: Save your time, then you have an emergency. But that is absolutely no longer true today. If you invest your money with a savings bank savings plan or rely on the interest on the call money account, you will, in the best case, stick to your status quo. As a rule, his assets are currently reduced by negative interest rates and inflation. If you don't have much plans with your money anyway, then you should travel with it rather than save. Because that educates. It's kind of an investment in itself.
Rüdiger von Rosen was spokesman of the board of directors of Deutsche Börse AG, professor in Frankfurt am Main and until June 2012 executive member of the board of Deutsche Aktieninstitut.
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