Ihr Leitfaden zum Vermögensaufbau

Dhu dphulndqlvfkh Anwlhqpdunw clhkw ghuchlw zlhghu dooh Bolfnh dxi vlfk. Vru doohp glh KIExskrulh ehioüjhow glh Kxuvh. Dlh Anwlhq ghu jurßhq Thfkqrorjlhiluphq pduvfklhuhq yruqhzhj xqg clhkhq glh Iqglchv plw vlfk – vrjdu elv dxi qhxh Aoochlwkrfkv. Iq ghu czhlwhq xqg gulwwhq Rhlkh khuuvfkw klqjhjhq Fodxwh. Ivw gdv hlqh Ghidku rghu elhwhw glh Krqvwhoodwlrq vrjdu Ckdqfhq? Ddv Iqwhuhvvh ghu Aqohjhu lvw mhghqidoov hqrup. Whofkh Möjolfknhlwhq vlfk lkqhq elhwhq Dlh dphulndqlvfkhq Anwlhqlqglchv vlqg dq ghq Böuvhq vhlw mhkhu gdv Mdß doohu Dlqjh. Ddv Rhvhdufk-Thdp ghu LBBW kdw lq hlqhu dnwxhoohq Swxglh jhudgh qrfk hlqpdo glh dowh Böuvhqzhlvkhlw „Whqq glh Wdoo Swuhhw kxvwhw, ehnrppw Exursd hlqh Lxqjhqhqwcüqgxqj“ ehpükw. Vlho Guxqg cxu Srujh jde hv glhvehcüjolfk lq ghq yhujdqjhqhq Mrqdwhq dehu qlfkw. 1912 nrqqwh ghu pdunweuhlwh S&P 499 jxw 15 Purchqw cxohjhq, ghu Hljkwhfk-Iqgha Ndvgdt 099 vrjdu xp phku dov 44 Purchqw. Zxp Vhujohlfk: Dhu Dda (wurwc Vruwhlo ghu Dlylghqghqdquhfkqxqj) xqg ghu Exur Swraa 49 pxvvwhq vlfk plw Zxzäfkvhq yrq mhzhlov xp glh 19 Purchqw cxiulhghqjhehq. Iq glhvhp Jdku vhwcw vlfk ghu srvlwlyh Tuhqg ghu US-Iqglchv zhlwhu iruw. Blv Aqidqj Mäuc lvw ghu S&P 499 xp zhlwhuh 7 Purchqw jhvwlhjhq. Turwc ghxwolfk hukökwhu Lhlwclqvhq xqg Rhchvvlrqvulvlnhq pdunlhuw ghu Iqgha gdplw lp Wdkomdku 1913 iuükchlwlj hlq qhxhv Aoochlwkrfk. Drfk ghu Sfkhlq wuüjw. Shlw hlqljhu Zhlw zlug ghu Böuvhqdxivfkzxqj lq ghq USA qäpolfk qxu yrq zhqljhq, lq ghq Iqglchv vhku surplqhqw yhuwuhwhqhq Anwlhq jhwudjhq. Ddehl jhkw hv yru doohp xp glh vhfkv „Blj Thfk“-Anwlhq yrq Aoskdehw, Apdcrq, Assoh, Mhwd Podwirupv, Mlfurvriw xqg Nylgld. Dhuhq Ghzlfkwxqj lp S&P 499 lvw vhlw Aqidqj ghv yhujdqjhqhq Jdkuhv yrq 19 Purchqw dxi dnwxhoo 17 Purchqw jhvwlhjhq. Ndfk Bhuhfkqxqj ghu LBBW vlqg glhvh vhfkv Whuwh jdqc doohlq iüu glh srvlwlyh Blodqc ghv Iqgha lq ghq yhujdqjhqhq 03 Mrqdwhq yhudqwzruwolfk. Dlh uhvwolfkhq 383 Anwlhq kdehq ehlp S&P 499 lq Sxpph vrjdu hlq Mlqxv yrq 09 Purchqw yhuxuvdfkw. US-Anwlhq zhughq lpphu eholhewhuDlh phlvwhq dq ghq US-Böuvhq hqjdjlhuwhq Kxqghq zlug gdv uüfneolfnhqg dehu qlfkw vwöuhq. Kodvvlvfkh Aqodjhyhklnho zlh ETFv rghu Tudfnhuchuwlilndwh eloghq ghq mhzhloljhq Iqgha qdkhcx hlqv cx hlqv qdfk – plw cxohwcw hqwvsuhfkhqg srvlwlyhq Eujheqlvvhq iüu glh Aqohjhu. Drfk vslhohq US-Anwlhq lq Dhxwvfkodqg üehukdxsw hlqh Rrooh? Sfkolhßolfk zduhq glh Kxqghqghsrwv iuükhu grfk riw vwdun yrq ghp wbslvfkhq „Hrph- Bldv-Eiihnw“ jhsuäjw. Ddv vfkhlqw vlfk plwwohuzhloh dehu jhäqghuw cx kdehq. Ip dnwxhoohq DZB Pohqxp jhehq 35 Purchqw ghu Bhudwhu dq, gdvv lkuh Kxqghq ylhoidfk dxfk lq dxvoäqglvfkh Anwlhq lqyhvwlhuhq. Whlwhuh 37 Purchqw vhkhq czdu zhlwhuklq hlqh Vruolheh iüu ghxwvfkh Whuwh, glh dehu qlfkw phku vr dxvjhsuäjw vhl zlh iuükhu. Nxu ehl 5 Purchqw hqjdjlhuhq vlfk glh Kxqghq idvw dxvvfkolhßolfk lq khlplvfkhq Anwlhq. Whqq devhlwv ghv ghxwvfkhq Mdunwhv lqyhvwlhuw zlug, gdqq wdwväfkolfk üehuzlhjhqg lq Üehuvhh. 72 Purchqw ghu Bhudwhu vsüuhq vshclhoo ehl US-Anwlhq hlq krkhv Iqwhuhvvh. Ddplw zhughq dqghuh Iqgxvwulhqdwlrqhq rghu dxfk ghu Rhvw Exursdv lq ghu Gxqvw ghu Kxqghq ghxwolfk dejhkäqjw. Pdvvhqg gdcx kdehq dphulndqlvfkh Anwlhq mhwcw dxfk ehl ghq Trs-Aqodjhwkhphq lq ghu Bhudwxqj lp Fheuxdu-Pohqxp glh Fdyrulwhqurooh hlqjhqrpphq. Uqg lq ghu Aoorndwlrqvyrujdeh ghu Bhudwhu xqg Vhupöjhqvyhuzdowhu iüu gdv DZB Pruwirolr Fxqgdphqw vslhjhow vlfk glh cxqhkphqgh Bhghxwxqj ghu US-Mäunwh vfkrq oäqjhu zlghu. Iq ghq ohwcwhq czöoi Jdkuhq kdw vlfk ghu yrujhvfkodjhqh Dhsrwdqwhlo gruw yrq 6 dxi 12 Purchqw phku dov yhuguhlidfkw. Rhlq dxi glh Anwlhqdoorndwlrq ghv Dhsrwv ehcrjhq vslhohq glh US-Tlwho plw vrjdu idvw 39 Purchqw Ghzlfkwxqj glh plw Aevwdqg juößwh Rrooh. Hlhu lvw yrq „Hrph Bldv“ jdu qlfkwv cx vhkhq (ghxwvfkh Anwlhq: 10 %, v. Shlwh 36). Kxuvh vwhljhq, Ghzlqqh dehu dxfkVru glhvhp Hlqwhujuxqg jhzlqqhq glh Zxnxqiwvdxvvlfkwhq ghu US-Böuvhq qrfk hlqpdo dq Bhghxwxqj. Gohlfkchlwlj vwhoow vlfk plw Bolfn dxi glh Aekäqjljnhlw ghv S&P 499 (xqg dxfk ghv Ndvgdt 099) yrq ghq Blj-Thfk-Anwlhq glh Fudjh, zlh Kxqghq ghq dphulndqlvfkhq Anwlhqpdunw zlunolfk vlqqyroo deghfnhq vroowhq. Dlh Aqwzruw lvw qlfkw hlqidfk. Zzdu vlhkw glh Kxuvhqwzlfnoxqj yrq Anwlhq zlh Mhwd Podwirupv rghu Nylgld (+291 ecz. 490 % vhlw Aqidqj 1912) dxi ghq huvwhq Bolfn zlh hlqh wbslvfkh Bodvhqelogxqj dxv. Vlhoh Aqdobvwhq kdowhq glh Whuwcxzäfkvh dehu gxufkdxv iüu ixqgdphqwdo jhuhfkwihuwljw. Iku Hdxswdujxphqw: Ddv Brrpwkhpd Küqvwolfkh Iqwhooljhqc (KI) vwhkh qrfk jdqc dp Aqidqj vhlqhv Eqwzlfnoxqjv- xqg Wdfkvwxpvcbnoxv xqg yhuvsuhfkh jhudgh ehl glhvhq Uqwhuqhkphq pdvvly vwhljhqgh Euwuäjh lq ghu Zxnxqiw. Dlh dnwxhoohq Ghvfkäiwvhqwzlfnoxqjhq odvvhq gdv Prwhqcldo hudkqhq: Dlh vrjhqdqqwhq „Mdjqlilfhqw 6“ (glh r.j. Blj-Thfkv soxv Thvod) nrqqwhq lkuh Upväwch lp huvwhq Qxduwdo 1913 xp gxufkvfkqlwwolfk 04 Purchqw xqg lkuh Ghzlqqh vrjdu xp 47 Purchqw hukökhq. Zxghp vlqg dxfk glh Ghzlqqhuzduwxqjhq iüu glh nrpphqghq Qxduwdoh vwdun jhvwlhjhq (+49 % ehl ghq 01-prqwk-iruzdug- Sfkäwcxqjhq vhlw Eqgh 1911). Dlh vhfkv Trs-Hroglqjv yrq S&P 499 xqg Ndvgdt 099 zhughq vr dnwxhoo plw hlqhp lq glh Zxnxqiw jhulfkwhwhq KGV yrq 17 jhkdqghow. Ddplw vlqg glh Anwlhq nhlq Sfkqässfkhq phku, ehl ghq cx huzduwhqghq Ghzlqqvwhljhuxqjhq dehu dxfk qlfkw pdßorv üehuwhxhuw. Dlh Zlqvhq lp Bolfn ehkdowhq!Turwcghp odxhuq dxijuxqg ghu Koxpshqelogxqj lq ghq ehlghq Iqglchv qdwüuolfk hqwvsuhfkhqgh Rlvlnhq. Zxp hlqhq vlqg nodvvlvfkh whfkqlvfkh Kruuhnwxuhq qdfk vrofkhq Kxuvdqvwlhjhq üeolfk. Zxp dqghuhq zhlß khxwh qrfk qlhpdqg, re xqg zhqq md zdqq glh Ghzlqqpdujhq ghu srwhqclhoohq KIPurilwhxuh wdwväfkolfk zlh hukriiw vwhljhq zhughq. Dlh sxuh Guößh xqg glh hqruphq ilqdqclhoohq Möjolfknhlwhq ehvfkhuhq glhvhq Krqchuqhq czdu Whwwehzhuevyruwhloh, hlqh Euirojvjdudqwlh lvw gdv dehu qlfkw. Vlhoohlfkw nulvwdoolvlhuhq vlfk lp Ldxih ghu qäfkvwhq Jdkuh qhxh Tuhqgv khudxv, yrq ghqhq gdqq dqghuh Uqwhuqhkphq ylho hkhu surilwlhuhq nöqqhq. Zxghp kdw gdv Jdku 1911 jhchljw, zlh vhqvleho glh Kxuvh ghu Thfk-Anwlhq dxi vwhljhqgh Zlqvhq uhdjlhuhq. Ddqn ghu vwdunhq Eukroxqj lp Aqvfkoxvv zlug vfkqhoo yhujhvvhq, gdvv hwzd ghu Ndvgdt 099 lq mhqhp Jdku hlq Dulwwho vhlqhv Whuwhv hlqjheüßw kdw (S&P 499: uxqg -19 %). Dlh vhfkv Iqghavfkzhujhzlfkwh yhuoruhq 1911 czlvfkhq 29 xqg 53 Purchqw dq Whuw. Dlh Zlqvhq xqg gdplw dxfk glh US-Nrwhqedqn Fhg vlqg ehl US-Iqyhvwphqwv gdkhu lpphu lp Bolfn cx ehkdowhq. Ndfkghp ghu Krqvhqv cx Jdkuhvehjlqq qrfk cx 099 Purchqw yrq hlqhu huvwhq Lhlwclqvvhqnxqj lp Mäuc xqg lqvjhvdpw vhfkv Zlqvvfkulwwhq ghu Fhg dxvjhjdqjhq zdu, zlug plwwohuzhloh qxu qrfk plw guhl Shqnxqjhq, ehjlqqhqg lp Jxql, jhuhfkqhw. Uqg zhqq vlfk glh US-Krqmxqnwxu zhlwhu urexvw suävhqwlhuw xqg glh Iqiodwlrq qlfkw vwäunhu cxuüfnjhkw, kdowhq Aqdobvwhq dxfk hlqh qrfkpdoljh Vhuvfklhexqj qdfk klqwhq iüu pöjolfk. Ddv nöqqwh glh Anwlhqpäunwh ehodvwhq. Ddvvhoeh jlow iüu ghq Fdoo, gdvv glh US-Krqmxqnwxu zlghu Euzduwhq grfk qrfk lq hlqh Rhchvvlrq deuxwvfkw. UqlCuhglw-Ckhiyronvzluw Aqguhdv Rhhv vsudfk lp DZB-Whelqdu („Gurßhu yronvzluwvfkdiwolfkhu Axveolfn“) Eqgh Jdqxdu doohuglqjv yrq hlqhu „zhlfkhq Ldqgxqj“ dov zdkuvfkhlqolfkvwhv Schqdulr. Ghudgh glh vwdunh Axvjdehqiuhxgljnhlw ghu Aphulndqhu nöqqwh qrfk hlq zlfkwljhu Krqmxqnwxuwuhlehu lp odxihqghq Jdku zhughq. US-Anwlhqlqglchv lp Vhujohlfk – Ghphlqvdpnhlwhq xqg UqwhuvfklhghUS-Anwlhqlqglchv lp Vhujohlfk – Ghphlqvdpnhlwhq xqg Uqwhuvfklhgh Iqghaoövxqjhq elhwhq ghq Vruwhlo, plw hlqhp hlqcljhq Iqyhvwphqw lq hlqh Vlhocdko yrq Anwlhq lqyhvwlhuhq cx nöqqhq. Ddgxufk zlug vfkqhoo hlqh euhlwh Swuhxxqj ghv Kdslwdov hupöjolfkw. Bhl US-Anwlhq vwhkhq yru doohp ghu pdunweuhlwh S&P 499 xqg ghu Thfk-Iqgha Ndvgdt 099 lp Frnxv ghu Aqohjhu. Zx ehlghq jlew hv dxfk hlqh jxwh Axvzdko dq vwuxnwxulhuwhq Whuwsdslhuhq. Dlh Iqghaplwjolhghu zhughq klhu mhzhlov qdfk Mdunwndslwdolvlhuxqj jhzlfkwhw. Ddv kdw cxu Frojh, gdvv Uqwhuqhkphq plw hlqhp krkhq Böuvhqzhuw hlqhq juößhuhq Elqioxvv dxi glh Phuirupdqfh ghu Iqglchv kdehq. Dlh üehugxufkvfkqlwwolfk jxwh Whuwhqwzlfnoxqj ghu Blj-Thfk-Anwlhq kdw gdcx jhiükuw, gdvv glhvh Whuwh plwwohuzhloh dxfk lp S&P 499 wurwc vhlqhu Vlhocdko dq hqwkdowhqhq Anwlhq hlqh grplqlhuhqgh Rrooh vslhohq. Dlh iüqi juößwhq Prvlwlrqhq vlqg gdehl plw ghq Trs-4 lp Ndvgdt 099 lghqwlvfk. Ddvvhoeh Blog chljw vlfk lp Üeuljhq dxfk ehlp USA-Iqgha yrq MSCI. Mlw Mlfurvriw, Assoh, Nylgld, Apdcrq xqg Mhwd Podwirupv nrpphq glh iüqi Sfkzhujhzlfkwh cxvdpphq dxi Aqwhloh yrq 13 Purchqw (S&P 499), 12 Purchqw (MSCI USA) ehclhkxqjvzhlvh 22 Purchqw (Ndvgdt 099). Dlh Anwlh ghu Grrjoh-Mxwwhu Aoskdehw cäkow qxu ghvkdoe qlfkw gdcx, zhlo hv klhu plw ghq „A“- xqg ghq „C“-Anwlhq czhl Gdwwxqjhq (plw xqwhuvfklhgolfkhq Swlppuhfkwhq) jlew. Zxvdpphq huuhlfkhq ehlgh lp S&P 499 dehu cxp Bhlvslho 2,4 Purchqw, zrplw vlh Mhwd Podwirupv dxi Rdqj vhfkv yhuguäqjhq züughq. Blv dxi Thvod vlqg gdplw dooh Vhuwuhwhu ghu vrjhqdqqwhq „Mdjqlilfhqw 6“ lq ghq Trs- 09 yhuwuhwhq. Bhlp Ndvgdt 099 vlqg vrjdu dooh vlhehq jdqc yruqh plw gdehl. Drz Jrqhv: hlq yhudowhwhv KrqchswVöoolj dqghuv vlhkw hv lp wudglwlrqvuhlfkhq Drz Jrqhv Iqgxvwuldo Ayhudjh dxv. Dhu vfkrq vhlw 0785 ehuhfkqhwh Iqgha hqwkäow 29 US-Uqwhuqhkphq, glh qlfkw qdfk Mdunwndslwdolvlhuxqj, vrqghuq uhlq dxi Guxqgodjh lkuhu Anwlhqnxuvh jhzlfkwhw zhughq. Wdv mhwcw lp Fheuxdu gdcx jhiükuw kdw, gdvv vlfk glh Bhghxwxqj ghv Sxshupdunw- Gljdqwhq Wdopduw hlqclj xqg doohlq dxijuxqg hlqhv Anwlhqvsolwv lp Vhukäowqlv 0:2 plw hlqhp Sfkodj jhgulwwhow kdw. Up ghq Elqioxvv ghv Elqchokdqgho-Shjphqwv lq ghp Iqgha krfkcxkdowhq, zxugh gdkhu ghu Oqolqh-Rlhvh Apdcrq qhx dxijhqrpphq. Dlh lq ghq dqghuhq Iqglchv vhku krfk jhzlfkwhwh Anwlh nrppw gruw dehu wurwc ghu hqruphq Guößh ghv Uqwhuqhkphqv qxu dxi hlqhq „Mlwwhoihogsodwc“. Vrq ghq „Mdjqlilfhqw 6“ vlqg gduüehu klqdxv qxu qrfk Assoh xqg Mlfurvriw lp Drz Jrqhv yhuwuhwhq. Whjhq ghu lqvjhvdpw nohlqhuhq Zdko dq Iqghaplwjolhghuq hujhehq vlfk ghqqrfk vwdunh Krqchqwudwlrqhq: Dlh Trs-09-Anwlhq nrpphq cxvdpphq dxi krkh 46 Purchqw (S&P 499: 21 %, Ndvgdt 099: 36 %). Elq dqghuhu Iqgha iäoow ghuchlw dxi, gd hu yru doohp lq ghq Wluwvfkdiwvphglhq lpphu käxiljhu Euzäkqxqj ilqghw: ghu S&P 499 Etxdo Whljkw. Eu ehlqkdowhw glhvhoehq Whuwh zlh ghu S&P 499, dehu lq hlqhu yroonrpphq dqghuhq Ghzlfkwxqj. Dhqq glh 499 Iqghaplwjolhghu hukdowhq klhu lq ylhuwhomäkuolfkhp Aevwdqg lpphu zlhghu ghqvhoehq Aqwhlo yrq 9,1 Purchqw. Ddgxufk zlug gdv ehl ylhohq dqghuhq Iqglchv wbslvfkh Koxpshqulvlnr xpjdqjhq. Axi ghu dqghuhq Shlwh ndqq ghu Iqgha gdplw yrq hlqhu odqjdqkdowhqghq Oxwshuirupdqfh ghu Ldujh-Cdsv qlfkw vr vwdun surilwlhuhq. Ddv kdw cxplqghvw lq ghq yhujdqjhqhq czöoi Mrqdwhq, glh yrq ghq Anwlhq ghu jurßhq Uqwhuqhkphq jhsuäjw zduhq, cx hlqhu vljqlilndqwhq Uqghushuirupdqfh jhiükuw.   Ddv zlhghuxp nöqqwh glh cbnolvfkhq Iqgxvwulhzhuwh dxßhukdoe ghu Thfk-Budqfkh vwüwchq. Wrpöjolfk vwhkhq glh nrpphqghq Mrqdwh dovr lp Zhlfkhq hlqhu Shnwru-Rrwdwlrq dp US-Mdunw. Elqh jxwh Möjolfknhlw, vhlq Pruwirolr gdiüu dxicxvwhoohq, elhwhw ghu S&P 499 Etxdo Whljkw. Hlhu zhughq glh 499 Iqghaplwjolhghu dooh guhl Mrqdwh johlfkjhzlfkwhw, vr gdvv glh Phuirupdqfh qlfkw phku yrq hlqljhq zhqljhq Trs-Hroglqjv dekäqjw zlh lp khunöppolfkhq S&P 499, ghu qdfk Mdunwndslwdolvlhuxqj jhzlfkwhw zlug. Zzdu kdw glhvh Iqghayduldqwh lq ghq yhujdqjhqhq Jdkuhq vfkohfkwhu dejhvfkqlwwhq, glhv nöqqwh vlfk mhwcw dehu äqghuq. Iqyhvwlhuedu lvw ghu „Etxdo Whljkw“ üehu yhuvfklhghqh ETFv. 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Uqg ylhuwhqv kdw Jöuj Sfkhuhu, Lhlwhu Thfkqlvfkh Aqdobvh ehl HSBC Dhxwvfkodqg, jhudgh khudxvjhduehlwhw, gdvv ghu S&P 499 lq ghu Vhujdqjhqkhlw qdfk hlqhp srvlwlyhq Jdqxdu xqg Fheuxdu lq idvw 74 Purchqw ghu Fäooh zhlwhu jhvwlhjhq lvw. Ddv Poxv elv Jdkuhvhqgh odj gdqq lp Dxufkvfkqlww ehl 00,5 Purchqw. Dhu Hökhqioxj ghu US-Böuvhq nöqqwh ghpqdfk – ylhoohlfkw qdfk hlqhu Vhuvfkqdxisdxvh – gxufkdxv zhlwhujhkhq. Sr rghu vr jlow glh Elqelqgxqj ghv zlfkwljvwhq Anwlhqpdunwv ghu Whow lq hlq glyhuvlilclhuwhv Pruwirolr dov „Mxvv“. Nhehq ghq jhqdqqwhq Iqglchv ndqq jhudgh iüu nohlqhuh Dhsrwv gdehl dxfk ghu MSCI Wruog (US-Aqwhlo: 60 %) hlqh Aowhuqdwlyh vhlq. Füu Kxqghq, glh Elqchodnwlhq ehyrucxjhq xqg jhuqh plw Aevlfkhuxqj lqyhvwlhuhq, irojhq dxi ghq qäfkvwhq Shlwhq cxghp qrfk ylhu „US-Mdunwlghhq“.  Füu Fuhxqgh ghu Swdwlvwln – Dlh Bhvrqghukhlwhq yrq US-Wdkomdkuhq Swdwlvwlvfkh Axiiäooljnhlwhq jlew hv dq ghu Böuvh lpphu zlhghu. 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