00:00Wir werden viel länger leben und nicht mehr Geld haben, um das Retirementieren zu haben.
00:04Wenn jemand eine Reaktionung ist, dann wird sie entdeckt.
00:06Sie sind entdeckend zu dir, oder zu brechen die Law.
00:13Willkommen zu The Big Question.
00:15Die Serie von Euronews,
00:17wo wir tief in die größte Themen auf den Bissensagenda betreffen.
00:20Heute, ich bin mit dem CEO von Finamise Karl Haisley.
00:24Vielen Dank für mich heute.
00:26So, zu starten, können Sie uns ein bisschen darüber,
00:28was Finamise do und was Ihr main ist?
00:31Finamise ist eine Finanzkennende, Insights und Forschungsplattform
00:34that aims to give everyone the tools
00:37to become their own financial advisor.
00:39We do that through our world-class analysis
00:42and in so doing,
00:44we hope to increase the net worth of an entire generation.
00:48Und do you think,
00:49you know, to kind of get the younger generation,
00:51so Millennials and then even Gen Z, into investing,
00:53do you think we need a bit of a culture change?
00:55You know, there is often that perception that,
00:57if you don't have much disposable income,
00:59investing isn't for you.
01:00Look, it was true 10-15 years ago
01:02that you needed a certain amount of money
01:03to think about investing
01:04and that's just not the case anymore.
01:06I can't confidently say that it's as accessible
01:08as it needs to be for everyone.
01:10I think that's a moving target
01:12and it's a goal that the industry should aspire to.
01:16I think there are more misconceptions
01:18on the financial services side
01:20than there are about actual modern retail investors.
01:23I think there are two big mistakes
01:25that the industry is making overall.
01:27I think first is on the institutional side
01:30where institutions treat non-experts like idiots,
01:35frankly, by talking down to them,
01:37by assuming that a 19-year-old or a 23-year-old
01:43cannot possibly have more than a couple of pennies in savings
01:47and therefore couldn't possibly be right
01:50to consider for an investment product.
01:52The best indicator of how somebody is going to behave
01:56and what they need from a financial services provider
01:58or an investment provider is their action,
02:01their content consumption.
02:02So whether you're 19 or 95,
02:04if I know that you've been reading about mortgage rates,
02:08interest rates,
02:09how to build a nest egg,
02:11your emergency fund,
02:12that tells me more about what you're likely to do next
02:14than just your age,
02:16your marital status,
02:17and so on.
02:18And the second big mistake
02:19is treating customers' users
02:21as the tool to make a margin.
02:23So what I mean by that is
02:25if you take financial services as a whole,
02:27we take medium-level complicated stuff
02:29around investing money, etc.
02:31We simplify it
02:32so that we will understand what's going on.
02:34Then we make it really complicated,
02:35put it in front of people and say,
02:37pay us.
02:38Right?
02:39And that's how you make a margin.
02:40And what's wild to me,
02:41and I think the big mistake
02:42that the industry is making is,
02:44you know,
02:45you don't go to the cinema
02:46without checking Rotten Tomatoes.
02:48You don't go to a restaurant
02:49or on holiday
02:50without checking TripAdvisor.
02:52Yet when it comes to money,
02:53this big, most important thing in your life,
02:55you're being expected to make decisions
02:57without access to either the way
03:00or the way to make those decisions
03:02or the way to learn more.
03:03And I think that's where a lot of people are going.
03:11Why should someone who maybe doesn't have that much
03:13excess cash to invest,
03:15but what potential does it have
03:17to grow versus just sticking it in the bank?
03:20It's often a tricky pitch,
03:22because to warn somebody about some future state,
03:26which is so far away,
03:27it doesn't feel urgent.
03:28But the fact of the matter is,
03:30if you stick your money in a bank account
03:32that earns a couple of percent of interest,
03:34inflation will eat away of that over time.
03:36If inflation is at 2% for 30 years,
03:39€1,000 is worth €500.
03:41If inflation is at 10% for seven years,
03:44that €1,000 goes to €500.
03:47Investing broadly helps shield you from that impact.
03:50It will grow your money at least in life with inflation,
03:53hopefully more.
03:55Over the very long run,
03:56it has historically outperformed inflation by a long chalk.
04:02And what that means is when you get to later stages in life,
04:06you have a nest egg to retire with.
04:09When we think about preparing for the future,
04:11and you know,
04:12I guess retirement is becoming increasingly far in the future.
04:14Yes.
04:15But you know,
04:16how much do we really need to be planning for that now,
04:18with our investments?
04:19So the short answer is,
04:20we absolutely need to plan for it now.
04:22It's not a case of being able to rely
04:24or not being able to rely on a government.
04:26It's just the simple fact that inflation is ever-present
04:31at whatever level it is,
04:32and the future is so far away that
04:35government plans may change,
04:37have changed,
04:38will continue to change.
04:39So it's not a reliability issue,
04:41it's a forecasting issue.
04:43And the one thing you can control is what you do today.
04:46I guess the bigger picture here is that
04:49the responsibility for making sure you've got enough
04:52when you stop working has never been more pressing on people.
04:56And again,
04:58looking at the big picture stats here,
05:00there's a generation of people,
05:02millennials and downwards,
05:04who are sleepwalking toward a retirement
05:06where with rising life expectancies,
05:10approved medications,
05:11Ozempic, you name it,
05:12we're all going to live much longer
05:14and have no money to fund that retirement,
05:17which is a terrifying state of affairs.
05:19Yeah.
05:20And that's why it's never been more important
05:22to take advantage of accessibility,
05:24education,
05:25for modern retail investors to invest, frankly.
05:28So for someone who maybe wants to think about,
05:31you know,
05:32creating a better financial future for themselves,
05:34but feels completely clueless on where to start,
05:36what would you advise?
05:37Find a source, newsletter,
05:40a website, podcast,
05:42all of the above,
05:44and spend five,
05:45ten minutes each day,
05:46just building your awareness.
05:48You'll find eventually that you can join the dots
05:53between an event and a response.
05:56Central Bank has said something,
05:58what does that mean for me?
06:00Tesco has reported a record profit,
06:02what does that mean for the price of groceries?
06:04And from there,
06:05you start to realise how much you don't know.
06:07It's a bit like learning a language.
06:08A little bit every day,
06:09you start to feel more confident,
06:10you start to feel more able to engage.
06:12Is there any scams that people should watch out for?
06:14If someone's guaranteeing a return,
06:16and guaranteeing that something's going to go up,
06:18they're either lying to you or breaking the law.
06:20Either way, it's dear clear,
06:22because predictions are hard,
06:24especially about the future.
06:26And with the best will in the world,
06:28with the best research in the world,
06:30no real investor can guarantee anything.
06:33And so that's the big red flag, I would say.
06:36Do you think there is a responsibility there for us
06:38to really think about where we invest our money?
06:40Like, should we make sure that we are doing good
06:42with our investments?
06:43Thematic investing is particularly popular among millennials,
06:47whether that is climate-focused or trend-focused.
06:51I think there's a really strong argument for it.
06:53I try not to be the arbiter of how people invest.
06:58I would rather you invest in a way that I absolutely loathe,
07:02than you don't invest at all.
07:04And that's for the reasons we've discussed around
07:06it just being necessary for everybody.
07:08But if I look at our data,
07:09so we survey our members quarterly,
07:12and a significant proportion have said,
07:15I will not invest in something
07:17if it doesn't align with my values,
07:1930%, 40%.
07:20A similar number have said,
07:21they would forego a return on their investments
07:25if the return was helping people,
07:28planets, environment, and so on.
07:31At the same time,
07:32about half of people just last quarter have said,
07:35actually, I'm paring back my ESG-focused investments,
07:40which is probably a nod to what's happening politically at the moment.
07:44Yeah.
07:45Well, on that note,
07:46thank you so much for your time today,
07:47and thank you for joining me on The Big Question.
07:49Thank you so much.
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