What to do with my savings
[deleted]
Posted Nov 3, 2022, 2:18 PM UTC
3957
Invest some time to acquire some basic knowledge first. Here are a couple of suggestions that helped me:
The Little Book of Common Sense Investing by John Bogle
A Random Walk Down Wall Street by Malkiel, Burton G.
The Bogleheads' Guide to Investing
Good luck.
42
This is a great advice, read those books OP, they will answer your questions, and will help you to understand the investment game
10
And The Swedish Investor YouTube channel:))
2
OP, congrats on this! It's very important for you to get information on books and other reliable sources on the internet.
The first thing you need to do is go to r/scams and learn of possible scams from people in ads, DMs, and other social media and phone calls to prevent losing money. NO ONE is going to multiply your money so don't take any of those offers because they all are a scam.
Look up Compound interest information with anything like ETFs (No, it's not NFTs) look for ETFs, I-Bonds if they're available for you, and other INDEX FUNDS to grow the money.
Don't try to make it faster, before that, you have to educate yourself but in the mean time any savings account can work, CD accounts, and index funds are your friend for the moment.
Try to not live with many expenses and many leisures. Check frugality tips to not spend all of that. It is very important for you to not go all-in with whatever shows up, diversify your portfolio not just with those index funds, also cd accounts, silver investment, stocks, etc check out everything but don't do anything unless you understand everything thoroughly.
24
Did somebody say nfts?
4
Congrats, man!
Having 15k at 29 is an achievement in our days!
My advice would be - start thinking about your future and retirement! Now you're healthy, strong, motivated... will you still be like that in 15 years? ... in 30 years?
Today is a great day to start doing something to make your life easier when you'll get old! Maybe it's sounds boring, but consider it's just a minimal goal. Nothing stops you to multiply your assets and become rich much sooner!
Basically you have 2 goals now:
- Don't lose your money
- Make them grow and ultimately cover all your life expenses several years
Totally agree with recommended books about investing from John Bogle. That would be an awesome start and after reading them you'll be able to educate yourself further in a right direction.
I would also recommend a book by Vicky Robin "Your money or your life" - the book explains the basics of FIRE (financial independence / retire early) and shows you some healthy approach to your money.
9
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Build an emergency fund
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Pay off debt if any
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Invest into VWCE or similar if you don’t need the money in the near future
8
If the debt is mortgage, debt is pretty cheap in some countries compared to VWCE historical data (This year was crazy)
1
Congratulations OP! Educate yourself before invest one penny, I did that mistake...
I don't want to sound rude but where do you live? 15k seems a bit normal
7
I live in paris (so 1/3 of my salary goes to rent)
dw it's not rude you have a point, but I was on debt so that's why I'm a bit late for my age.
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I'm a bit late for my age.
Most wake up at 45, if ever. You're definitely not late.
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I know I did
3
- start with an virtual portfolio (real market, fake/test money). some brokers do offer that option. Treat it like a game at the start and learn. go wild, experiment. fail and learn. Theory is pointless. Start with practical. Then use theory to try new things.
- Once you feel you are confident, start with 1 week pay? 1 month pay? Try really buy just one stock. Try closing a trade. (notice that I don't say selling a stock). Learn that "SELL" has a different meaning. Learn that it's harder with real money than virtual due to emotions and fear. Check that you actually get back your money in the bank.
- Then you should know how to proceed from here. Then get screwed like the rest of us when Russia / China / US starts throwing shit at each other ._.
3
I think you need to learn as much as possible about investing before deploying your cash. Owning a home or apartment is usually considered one of the smartest investment choices.
2
Look for a good investment fund
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Learn how to buy corporate bonds and grow your account over time. When you feel you have money to risk, buy high quality equities and sell call options against them.
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Well, it really isn't a complex thing, the very simplest thing is look up "three index fund portfolio EU" and allocate it as you see fit, should take you 10 mins, personal advice avoid dealing with things that generally harm people like a whiskey or liquor brand, banks using interest etc
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Wait for a collapse in the market, pick some nice tech stocks with a huge moat and with a low share price. Wait a few years and boom
-1
Buy a house or flat. Better investment than any stock or bonds.
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All in black. Let’s ride.
-2
Save more, put everything in real estate (land you can grow your own food on), gold and Bitcoin while fiat has still some value
-6
I had a good laugh!
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Yeah, remind me in 10 years, we will se who will have a goog laugh than, but if you dont want to have a meaningful coversation about our different points of view, well, have another good laugh and bye
3
I mean conservatively speaking sure Bitcoin 1% of the portfolio just in case but that's it.
0
Why? Do you even understand it? How it works? Why it was designed? Its true potential? Im talking about new world order and collapse of monetary economy, Bitcoin standart, not view it as a speculative investment, people need to know its true meaning and potential
-1
Yes I'm heavily into Bitcoin, Ethereum and ADA. But to OP who's fairly new to investing he needs to focus on solid investment fundamentals. You can shill someone else.
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Im not shilling anyone, but what are solid investment fundamentals in your opinion?
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All of the money that you can beg, steal or borrow should go into Meta puts. You’re going to be rich!
-10
Man, you can invest in NFT here opensea.io/cryptoneondroids
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-39
This is a personal finance sub to answer this exact type of questions.
14
This nonsense is asked here every week. It's not like I don't want to help. But study first and if you don't understand something, ask. Easy as that. This is just question with expected answer on the silver plate how to do it because I am lazy to study.
-7
To be honest I agree with you, I should make a research and study on my own first. It's just that, I kinda wanted that first push since I'm totally new to finance world in general.
8
I'll give you the highlights:
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make sure you can cover your expenses for 3-6 months (cash)
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invest if you don't need the money for 5+ years
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at the core of your investments get a world wide fund like (VWCE, V80A, EUNL etc). They are all slightly different but pick one.
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one day when you are comfortable you can use 5-10% of your investments to buy "satellite" investments where you speculate a bit more if you care for such things
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you're always going to read about a new seemingly better fund, don't sell and rebuy, stick with what you have and keep doing it for the next three decades.
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if you are having fun you are doing it wrong, it's meant to be as boring as setting up an automated payment and forgetting about it :)
But go do research first.
8
you're always going to read about a new seemingly better fund, don't sell and rebuy, stick with what you have and keep doing it for the next three decades
In that case, wouldn't it be better to stop supporting the old fund, not sell it, but buy only the new "better" fund?
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Yeah. No worries mate. It's not like I don't want to help you, but this basic question is all over the internet/youtube/books and you're 29 so I assume you can read and if you don't understand anything, then you can ask. I don't know many many things from finance world, I invest to very conservative ETF like VWCE but I just did my own research and I did not expect someone will solve it for me. Start with that. That's a good way for life in general.
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Great answer.!!!!!111
-1
You are currently beating 95% of investors by not doing so.
Idk, i started in 2020 and I am still in the green just from vanila etfs
You are the 5%. Best regards.
What a bunch of nonsense. I started literally ONE month before Covid (lump sum) - historically one of the worst moments to start - and am still in profits today.
Obviously it goes in swings (was in the negative for majority of 2020) but it's all about dollar-cost averaging.
I lost 45$ from 600$ and for some reason 90% of everyone i spoke to lost even more.
It depends on what you invest in I am about 5% ishares smallcaps 13% ishares emerging and tje rest is iwda
As of this comment I am 6% up. First time i bought stocks was the last day of 2019.
It used to be 25% up in January.
3 VWCE and 3 IWDA.
The only time I went up was a few months ago,started in February.
Hello, I'm interested in the reference. It could be interesting what other stats your source has.
Any stats you want. I just make them up as I go like the media. Pro move
It's a shame to spread unfounded or fake information.
‘Tis.
Depends in which currency the cash is being held. If it is in euros, it lost 15% of its value vs cash held in USD over the past 12 months (and this is not to account the fact that the euro deposit would have paid almost no interest while the USD deposits would have paid some).
Incidentally, it also means that any USD denominated asset which lost less than 15% over the same period is actually up in euros.