With the increasingly prominent problem of old-age care in modern society, the elderly over 60 years old have become the main force of residents' savings. Their stable income and limited needs of daily life allow them to save some money every month and develop good savings habits. At the same time, however, there are some risks and challenges that they need to be aware of and deal with. In this article, I will provide some insider reminders for seniors over the age of 60 who have savings to help them better protect and manage their wealth.
Many older people have an excessive trust in bank staff, believing that they will not let themselves suffer. However, the reality is that due to performance pressures, some bank staff may promote high-yield wealth management products to meet performance targets. Seniors should be vigilant, do not blindly trust the staff, and have a full understanding and evaluation of the product to avoid falling into unforeseen risks.
Read more: The trust that older adults have in bank staff is mainly based on their positive experiences and trust in banks over the years. However, in today's complex financial markets, banks' operating and sales models are constantly changing, and the benefits of performance appraisal indicators for bank staff** are also increasing. Therefore, the elderly should be vigilant when dealing with bank staff to avoid property loss.
When choosing a deposit method, the elderly tend to choose a fixed deposit with a longer maturity in order to obtain higher returns. However, behind this high yield often means poor liquidity. If an elderly person suddenly needs to withdraw funds during the deposit period, they will have to make an early withdrawal at a lower interest rate, resulting in a loss of deposit income. Therefore, the elderly should invest rationally, choose suitable financial products according to their own capital needs and risk tolerance, and maintain sufficient liquidity.
Extended reading: When investing in financial management, the elderly should fully understand and evaluate the risk of the product in addition to considering the rate of return. Different types of wealth management products have different risk characteristics, and the elderly should choose according to their own risk tolerance and financial situation. At the same time, the elderly can also consider some stable investment varieties, such as bonds, **, etc., to achieve the preservation and appreciation of assets.
Some elderly people, due to physical reasons or feel that the procedures are troublesome, will entrust bank staff to handle the deposit business on their behalf. At this time, they often need to share their personal deposit information with the staff. However, in order to prevent property losses caused by the leakage of personal deposit information, it is best for the elderly to go to the bank in person to handle the deposit business. Do not easily share your personal deposit information with others to avoid loss of profits.
Read more: Leakage of personal deposit information can pose immeasurable risks to the elderly. Once criminals have access to personal deposit information, they can use various means to commit fraud and theft. Therefore, the elderly must be cautious when handling deposit business to ensure the security of personal information.
Some seniors will choose to automatically roll over their deposits when they are due to save some trouble. However, there may be two problems with automatic rollover: one is that the interest rate after rollover is relatively low, and it is not possible to enjoy higher returns;Second, because the transferred funds cannot be used at any time, other investment opportunities may be missed. Therefore, the elderly should consult the bank staff in time to choose the deposit method that suits them.
Extended reading: Automatic rollover is convenient, but it also brings certain risks and losses. When choosing a deposit method, the elderly should be flexible according to their own needs and investment preferences, and should not rely too much on automatic rollover. If you are faced with multiple options, you can consider depositing a portion of your funds as a liquid demand deposit to meet unexpected needs.
Some seniors prefer to keep all their money in a small or medium-sized bank in order to obtain a relatively high interest rate on their deposits. However, in recent years, there have also been cases of small and medium-sized banks going bankrupt and failing. In order to reduce the risk, the elderly should spread the funds in multiple banks and control the deposit of a single bank not to exceed 500,000 yuan to enjoy deposit protection.
Extended reading: Capital diversification and risk diversification are effective risk management methods. Seniors can choose to spread their money across different banks, different types of deposit methods, to reduce the risk of property loss. In addition, the elderly should also pay attention to the bank's safety rating and creditworthiness, and choose the right financial institution to make deposits.
Older people tend to have a certain amount of wealth due to years of accumulation. However, sharing savings information with family members often leads to disputes and conflicts within the family, and may even lead to the loss of property. Therefore, the elderly should be cautious and do not easily tell their family members about their savings to maintain family harmony and property security.
Extended reading: The family is a social unit of interdependence and trust. However, information asymmetry and unfair distribution of property often lead to family conflicts and disputes. Seniors should be wise and calm when dealing with property issues, actively communicate and negotiate with their families, work together to make reasonable financial plans, and protect their personal property.
With the rise of domestic residents' enthusiasm for deposits, the elderly over 60 years old have become the main force of residents' deposits. However, the elderly should pay attention to avoid the traps of bank staff, do not ignore liquidity for high yields, protect personal deposit information, do not leak easily, beware of automatic rollover and interest rate traps, diversify risks, do not put all funds in one bank, and keep confidential deposit information and do not easily tell family members. These reminders will help seniors better protect and manage their wealth.