Where to put money? Long-term financial planning including real estate

2022-07-24 13:57:20

I would stick to what you are currently doing and additionally look for a good advisor if you really want to change something.

Although, that’s not entirely true: I would try to reduce the working hours to 30 hours. Now is the best opportunity to spend time with the children. In 10 years, the children’s priorities will be elsewhere. Maybe you’ll come together again when the children are adults, but otherwise the train will have left the station.

With the paid-off house, almost nothing can happen to you anymore. So why earn as much money as possible? Even with less income, you will surely be able to support your children sufficiently.

2022-07-24 14:01:21

Matching the provocative title:
If you also have so much left over that even a second account is necessary, then one should perhaps also consider those in need with a subscription, e.g. children in distress, the food bank, Nabu or the local sports club, etc. Often one doesn’t think about that :rolleyes:

I also think the idea is great, it doesn’t have to be four-figure sums. In your village there are surely enough clubs/institutions that could really use donations and where you can directly see that something meaningful has been done with the money.

2022-07-24 14:04:22

Since we are here in the house construction forum, I am somewhat older in years and I don't only deal with age-appropriate future matters, but also with the meaning of life and the "not-just-talking,-doing" etc.:

I would invest in a plot of land/parcelle where others go on vacation.
Put a mobile home/tiny house on it and rent it out. Later place a new mobile home there for self-occupancy.
Most are (unfortunately) leasehold plots. But you have to queue up to get one. It can take a generation until you win the draw. So start now already.
Of course, you can also invest in a condominium, but that is no fun and ultimately only satisfies people like Scrooge McDuck in the long run.
When I was your age, my account, the portfolio, the next achieved zero, and living comfort were very sacred to me.
Meanwhile, and you will most likely get there too, everything looks a bit different.
So if you have financially provided for yourself, your children, and later grandchildren anyway, money investments often matter less than investing in _qualitative time_, so killing two birds with one stone.
….
Appropriate to the provocative title:
If you also have so much left over that even a second account is necessary, then one should possibly also consider the needy with a subscription, e.g. children in need, the food bank, Nabu or the local sports club, etc. Often one does not think about it :rolleyes:

Agreement.
And the 5 fastest who share their IBAN here will get 5% of it… :D

The first candidate would be the one with the 8k€…
(Sorry, I can't help it)

2022-07-24 14:56:49

You could also consider building up a cash cushion (or [Tagesgeld] etc.). Who knows if difficult times won’t arise in the coming years and lending to private individuals will come to a halt or at least become difficult. It wouldn’t be the first time. Then cash is king and it’s your turn.

By the way, one of the reasons why the rich keep getting richer. There is money lying around even in difficult times...

2022-07-24 15:51:10

In our environment, no one has these worries because houses worth over 1 million first have to be paid off.

I still can't understand why someone works full-time plus a side job with 2 small children. I always feel terribly sorry for such families, and I thought most desperately need the money to be able to pay off their house. We also enjoy our work, but if we both could only work half-time, that would still be a dream. What about traveling?

No one here can tell you exactly which property makes sense.
I would find a nice holiday home by the sea great, but you don't have time at all to enjoy it.

I would also support children if I can. Investing in funds would be my primary idea there. Otherwise, I would buy a plot of land in my own town for the children.

2022-07-24 16:12:01

I see it the same way as . You can't take anything with you to the grave. Time for yourself and family in the present is more valuable than 12 properties in retirement. We have experienced so many cases in our environment of young retirees who dropped dead shortly after their job ended, with the list of all the todos in their pocket... or sudden deaths. Apparently, a finished house and working life do not mean perfection when it comes to questions of spending money or investments. No elaborate hobbies or goals in the present? I also think it makes sense to teach children to stand on their own feet by the time they start university at the latest. For me, this includes a part-time job and, for example, independently covering the rent. I managed that in the early 2000s without exceeding the standard period of study, even though my parents could have supported me... The house is paid off and eventually it will belong to the daughter. For us, that is enough provision. With a somewhat better household net income, we probably live in full wastefulness by other standards. A small fixed buffer but no ETFs and the like or other savings. On the other hand, expenses are not questioned twice but just made. You only have this one life and who knows how long it will last.

Where to put money? Long-term financial planning including real estate

FloHB123

FloHB123

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alterego134

Hausbautraum20

Nordheide