Record amount of wealth ammassed by Germans
Submitted by Editor on 16/7/04 – 12:00No Comment
According to the Association of German Banks (BDB) in Berlin, Germans have ammassed almost €4 billion in savings through last year, the highest level in recorded history.
In 2003, the average German household saved 5% more in 2003 than in 2002 leaving around 33% of their money as ready cash, savings or in short-term investment funds.
25% of all savings is wrapped up in life insurance policies and pension schemes.
Private investment in the stock markets rose 1% last year to 6% in total which still means Germans still remain very cautious in buying stocks and shares.
