Since about 2008 an increased appearance of a situation of negative real interest rates can be observed in many national economies. Negative real interest rates are often equated with financial repression. This thesis firstly extensively illustrates the term financial repression in theory, which, however, is not understood as a conclusively defined concept, but the common occurrence of various features. Nevertheless, negative real interest rates are the most prominent feature associated with financial repression. The main effect of negative real interest rates is the liquidation effect which causes devaluation of debts and a hidden transfer from creditors to debtors. In the past, there already have been longer periods during which financial repression was used as a means of reducing public debt ratios. Even today, many states are facing the challenge of reducing their public debt ratios and measures which are used by states to fight the sovereign debt crisis currently take the form of financial repression in many cases. Thus, investors are confronted with the problem of how to invest their available funds lucratively in a situation of financial repression and the accompanying negative respectively very low real interest rates. Consequently, in this thesis some asset classes are analyzed for their applicability as an investment alternative during a stage of financial repression. By an examination of empirical data, real implications of a phase of very low or even negative interest rates on investor?s behavior in Austria are investigated. For this purpose, the savings ratio, the composition of the monetary assets, as well as the deposits of private households and their changes over time are examined in detail.