Cautious German Savers Brave the Stock Market

By Patricia Kowsmann5 days ago

Michael Schacht, 70 years old, is a typical German saver. Risk-averse, the clothing-shop owner kept the equivalent of $300,000 in a local bank in a small town near Hamburg.

Then, earlier this year, Mr. Schachts bank told him it wanted to charge him a negative 0.5% interest rate to hold his money.

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Furious, Mr. Schacht did something he never considered: He put it all in the market. His portfolio includes investments in stocks and corporate bonds from Europe and elsewhere through funds, plus gold and silver.

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