How experiences of transition, financial crises and family stories shape the way we think about money today
There is one generation for whom the word “investment” often does not sound like an opportunity, but like a risk.
These are the people who grew up during the 1990s.
Many of them are now in their active years, with careers, their own businesses, families, income and savings. Some already own property and are thinking about their next step.
And yet, when it comes to investments, the reaction is often:
“I don’t know… it sounds too risky.”
Why?
Maybe because our relationship with money does not begin with our first salary.
It starts much earlier — with what we saw at home.
The Generation That Learned to Fear Money First
People who grew up during the 1990s witnessed financial stories that today sound almost unbelievable to younger generations.
They remember their parents’ conversations about money.
They remember the fear.
Спомнят си как спестяванията могат да загубят стойността си и как нещо, което вчера е изглеждало сигурно, утре може да не бъде.
Some families lost a significant part of their savings. Others chose the only thing that seemed understandable and safe to them — property..
And so, gradually, a very strong belief took shape:
“The safest thing is what you can see and own.”
That’s why, for many people from this generation, investing is naturally associated with buying real estate.
An apartment.
A house.
Land.
Something tangible.
Something you can see, visit and eventually leave to your children.
“I’m not going to risk my money” is also a financial decision
But there is an important paradox here.
When someone says:
“I don’t want to risk my money,”,
they are actually already making an investment decision.
The decision is not to invest.
But that does not mean that my money is not exposed to risk.
It can lose purchasing power.
There may be lost potential returns.
There may also be a concentration of almost all of your wealth in a single asset — for example, one property.
That is why, in my view, the question is not:
“Are investments risky?”,
but rather “Do I understand the risk I am taking, and does it match my goals?”
That is a very different question.
Why does property seem safer?
As a property and mortgage consultant, I encounter this attitude very often.
Чувала съм неведнъж от клиентите си:
“I wouldn’t invest even one euro in funds.”
But the same person may take out a large mortgage and purchase a property worth hundreds of thousands of euros.
And consider that to be less risky.
I understand why.
Property is tangible.
You can see it.
You can live in it.
You can rent it out.
You can leave it to your children.
But being tangible does not automatically mean being risk-free..
A property also carries risks — location, liquidity, price, costs, taxes, maintenance, financing and concentration of capital.
That is why I would not put real estate and financial investments in opposition to each other. They are not competing choices, but different instruments that can play different roles in a well-considered financial strategy.
The question is not which is “better” — property or financial investment. The question is which solution is appropriate for a particular person, for their financial resources, time horizon, goals and attitude towards risk.
It is important to understand what you own and the purpose it serves.
The Problem Is Not That the 1990s Generation Is “Fearful”
In fact, I wouldn’t describe it as fear.
It is more a learned sense of caution..
And that makes a huge difference.
When you grow up in an environment where financial security was never taken for granted, it is natural to value security more.
This generation learned to save.
Not to spend everything.
To have something “for a rainy day.”
To buy something that has real, tangible value.
These habits are valuable.
The problem arises when caution turns into a complete refusal to take any investment risk..
Because then a person may become so focused on protecting their money that, over time, they miss opportunities to manage it more effectively.
And What Happens to Our Children?
This is where the topic becomes even more interesting.
Many of us unconsciously pass on to our children not only our financial knowledge, but also our fears.
If a child constantly hears:
“Investments are dangerous.”
“Don’t trust banks.”
“You can lose your money.”
“The safest thing is to buy property.”
so they are likely to develop their own relationship with money even before they start earning.
But we can pass on something else, too.
Not a specific investment.
But the ability to ask the right questions..
What is the risk?
What is the potential return?
For how long will my money be committed?
Can I afford a loss?
Do I understand the product?
How does this decision fit into my overall financial situation?
From “I’m afraid” to “I understand the risk”
Maybe this is the most important shift we need to make.
We don’t need to become people who take huge risks.
We don’t all need to invest in the same way.
Not everyone needs to invest.
But it is important that the decision is conscious..
We should stop saying:
“I don’t invest because all investments are risky.”
And instead say:
“I understand the different options and choose the one that aligns with my goals, time horizon and attitude towards risk.”
That is financial literacy.
What I See in My Work with Clients
Over the years, I have met people with very different levels of income.
And one thing has struck me time and time again:
оur relationship with money does not depend solely on the size of our income.
Some people with high incomes are extremely cautious and keep almost everything in familiar, well-understood assets.
Others, with quite ordinary incomes, have gradually built up savings, an investment plan and financial security.
The difference is often in knowledge, habits and decisions —not simply in the size of the paycheck.
Maybe the 1990s Generation Doesn’t Need to Forget Its Fears
But to turn them into knowledge.
Our experience has value.
It taught us to be cautious.
But the next step is to learn how to be cautious without being afraid of every opportunity..
Because financial literacy does not mean knowing how to achieve the highest return.
It means being able to make better decisions with your money..
And perhaps that is exactly the conversation the 1990s generation needs to have today — not that investments are dangerous, but how to understand risk before making a decision..
I believe that a good financial decision does not start with a specific product, but with the right questions.
As a real estate, mortgage and investment consultant, the most important part of my work is precisely this — to help clients understand the options available to them and make a decision that is right for their individual situation.
Because there is no universally right investment.
There is an informed decision.
