Spunk
2018-09-17 12:43:46
- #1
Building savings plans are not worthwhile for such amounts... and 100k is too much for building savings.
So, the basics of wealth building:
Go to a comparison site (fmh, Biallo, Focus, Check24, etc.) and find a daily allowance account. Nothing with promotional interest rates but rather good long-term interest rates (Rabo, Renault Bank direkt, etc.)
Open a TG account and transfer the monthly installment by standing order.
Once your liquidity reserve is built up (or better yet, already available), shift the money from the TG account into fixed-term deposits. Again, go to the above comparison sites (or additionally Zinspilot, Weltsparen) and look for fixed deposits. I would fix the term of the fixed deposit to max. 3 years. There is nothing more stupid than having to borrow your own money (in case something happens with the house or car, etc.).
And with 0.5% interest over 15 years (where do you even get that?), I wouldn’t pay off a single cent early. Even after taxes, the fixed deposit investment yields more, and inflation is higher. Then you have 15 years, and that’s when the stock market becomes interesting. So it’s worth considering ETFs. (finanzwesir for reading up on the topic).
With a monthly rate of 400€, you could put 150€ into TG/FD hopping, another 150€ into ETFs, and 100€ as a reserve. With ETFs, the question arises whether to invest everything in the EU (DAX, EuroStoxx) or 50/50 with the US (S&P 500, DowJones) or split 1/3 each with EM markets, depending on personal preference. justetf has everything in the selection.
With distributing ETFs, you can also ride out the bad years and borrow against the securities portfolio (in addition to the house).
And on the side: 200k for a house doesn’t sound like new construction, expected repairs make ETFs obsolete.
: reversed: 300€ *12 months *15 years = 54,000€ plus interest
In ’s calculation: you get a remaining debt of 30k from the building society as an unsecured loan, at least as an employee, I don’t know about the self-employed.
So, the basics of wealth building:
Go to a comparison site (fmh, Biallo, Focus, Check24, etc.) and find a daily allowance account. Nothing with promotional interest rates but rather good long-term interest rates (Rabo, Renault Bank direkt, etc.)
Open a TG account and transfer the monthly installment by standing order.
Once your liquidity reserve is built up (or better yet, already available), shift the money from the TG account into fixed-term deposits. Again, go to the above comparison sites (or additionally Zinspilot, Weltsparen) and look for fixed deposits. I would fix the term of the fixed deposit to max. 3 years. There is nothing more stupid than having to borrow your own money (in case something happens with the house or car, etc.).
And with 0.5% interest over 15 years (where do you even get that?), I wouldn’t pay off a single cent early. Even after taxes, the fixed deposit investment yields more, and inflation is higher. Then you have 15 years, and that’s when the stock market becomes interesting. So it’s worth considering ETFs. (finanzwesir for reading up on the topic).
With a monthly rate of 400€, you could put 150€ into TG/FD hopping, another 150€ into ETFs, and 100€ as a reserve. With ETFs, the question arises whether to invest everything in the EU (DAX, EuroStoxx) or 50/50 with the US (S&P 500, DowJones) or split 1/3 each with EM markets, depending on personal preference. justetf has everything in the selection.
With distributing ETFs, you can also ride out the bad years and borrow against the securities portfolio (in addition to the house).
And on the side: 200k for a house doesn’t sound like new construction, expected repairs make ETFs obsolete.
: reversed: 300€ *12 months *15 years = 54,000€ plus interest
In ’s calculation: you get a remaining debt of 30k from the building society as an unsecured loan, at least as an employee, I don’t know about the self-employed.