Savings, Job, retirement: the effects of Corona for your money

More than 100,000 Infected of the new COVID-19 there is in the world. The good news: The number of convalescent patients increases substantially. A data aggrega

Savings, Job, retirement: the effects of Corona for your money

More than 100,000 Infected of the new COVID-19 there is in the world. The good news: The number of convalescent patients increases substantially. A data aggregation of the American University John Hopkins that over 55,000 infected persons are now healthy again.

the epidemic is not Banned yet. Also, who's left from the Virus itself be spared, will feel the consequences of the outbreak. As more and more Economists expect a significant slowdown of the global economy, in places, even recessions. Everyone is affected in one way or another on these consequences, you need to set it.

your Savings: interest rates are low -

For savers who have put money on the high edge, the outbreak means new Trouble. Because the Central banks take monetary policy measures, which could push interest rates further.

the US Central Bank has lowered the key interest rates for the first Time since 2008, non-scheduled and is equal to 0.5 percentage points to 1.00 to 1.25 percent. Its European counterpart, the European Central Bank (ECB), the local interest rates further because they are already at the zero point. But probably the interest rate Keeper from Frankfurt will increase to the Penalty rate for banks once again.

Currently, this is excess, in the case of the ECB's reserves parked, at minus 0.5 percent. This could be at the meeting on may 12. March to minus 0.6 per cent rise, market observers expect the majority of the increase at the meeting at the end of April.

The result: banks will be burdened even more, in addition, the step would demonstrate again how far the ECB's monetary policy is of the normality away. Accordingly, it could take even longer, until the interest rates in the Euro area will rise again. Means savers are still likely to lose longer real purchasing power, as interest rates on the account are not able to compensate in the longer term, the current level of Inflation of 1.7 percent. The outbreak of the Coronavirus could prolong the Suffering of savers.

also read: Coronavirus outbreak in the News Ticker: Doctors warn of Corona-hysteria - thieves disinfectant from the children's cancer ward

Job - short-time working and quarantines claws threaten

Depending on the industry must adjust to the employer for the worst. Office workers today have usually the opportunity to get your work done in the own four walls "remote". However, anyone who has a stable job, especially in affected sectors such as logistics, the automotive industry and the export industry, the work threatens to Short.

Before that, the expert Achim Haug of the foreign trade Agency Germany trade & invest, and even the Minister of labour, Hubertus Heil, warned for example. However, healing encourages the authorities for well-positioned, because it'll give the "strong Instrument" of the Kurzarbeitergelds. These workers would be entitled, should the bottlenecks actually lead to short-time work.

to claim on short-time working money, there is not only when a company arranges for operational reasons, short-time work. Also in the case of official orders for the closure of an operation, short-time work can grab – and workers have a claim on financial support. With Stock Selection in Europe, you will achieve excess Returns with System! (Partner offer) Now 30 days free of charge test!

Also, of course, have Infected, as with any other disease - for a period of six weeks to claim their compensation. Another case is, in turn, are quarantines, which prevent healthy, but under suspicion of workers from their work, such as the law firm CMS said.

Basically, not a contract of employment consists of a claim to payment. The IfSG, the infection protection act covers the workers here. This assures the Affected for the first six weeks are entitled to compensation in the amount of earnings. After these six weeks there are, however, only a compensation in the Form of sickness Benefit.

In the worst case – in the case of a prolonged recession and a Halt of world trade, however, are also Job-Clearcuts in certain sectors is not excluded. In the case of airlines, the situation seems to be the most dramatic. The Israeli Airline El Al, for example, was dismissed because of the crisis in 1000 of its 6300 employees.

pension - Our Pension is suffering with

Also on the pension, the Virus epidemic has an impact. Directly those persons affected, the provisions in addition to private here are, of course, because of the exchanges it's currently in very bad shape. The leading German index, the Dax, has lost from the recent record high of over 16 percent. On Friday alone, the Fears expressed prior to a prolonged economic slowdown, the stock market barometer by another 3.9 percent. DAX 11.541,87 PTS. -402,85 (-3,37%) Xetra

  • 1 day
  • 6 months
To drop the price data

at the same time safe investments such as government bonds, hardly anything what investors does not stop to take refuge in this. The current yield on ten-year Confederation bonds is minus 0.74 percent to an all-time low. Means: Who now buys a bond on the market, makes per year up to maturity of 0.74 percent loss. Also US Bonds of the same maturity reindeer with 0.70 per cent, as low as never.

From this development but are not affected only the private savers. Because the pension funds to place the entrusted capital as well, and even have to invest in safer securities such as government bonds – causing them to lose money, to multiply instead of doing it for future pension payments. Add to that the wages - the determining factor of the pension levels grow at a sluggish and slower.

don't panic

will Still apply: don't share, to protect the Life financially, now panic sell! Over longer investment periods (15 years and more) are the losses of the German and the US excluded the American stock market, as history shows. This is even more true for dividend stocks, whose returns distributions are more important than the price increases.

stock market experts, such as investment strategist Michael Winkler of the St. Galler Kantonalbank advised to observe the Events "closely" and to consider even, "to take advantage of price declines for inventory increases". Of course this is only for money that can spare investors for a longer period of time. Small Caps Champion: The successful in addition to values-based stock market service by Finanzen100. (Partner offer) Now, Small Caps, Champion, test it for 30 days free of charge

it would be A mistake, however, now fully in the "crisis currency" Gold to upgrade. Although the precious metal has greatly increased in value and recorded 1686 US dollars per fine ounce at the highest level for eight years, but the rate depends primarily on the demand subsides the panic subsides, the demand, and investors could then be of sudden profit-taking in surprise. Therefore, Gold is suitable as an admixture.

here you can find out more on the topic of:
  • stock markets to swing wildly up and down - a total crash or Dent? The Top Economists for the Corona-crisis
  • say Long ago, not the indices - Corona-panic drop on the European stock markets – and in China the rates are going up again
  • the ECB has the will to act - Due to Corona the next bad message to
  • After the Corona Crash rolls out to savers - Which type are you? How Cautious, Patient and gambling money now
Where should create occurs Coronavirus? Real-time map showing the spread of the disease, FOCUS Online/Wochit Where is Coronavirus? Real-time map showing the spread of the disease
Date Of Update: 06 March 2020, 22:01

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