When parents die, you are usually no longer very young yourself. It's better not to make your own pension provision dependent on your inheritance and - because of your advanced age - to be reasonably secure (yes, I wouldn't take out an insurance policy today, that's just the way it was done). You might also have a property, in my case an owner-occupied condominium and two smaller units to rent out.

And then, somewhat unplanned and unexpectedly, an inheritance comes along, which in my case increased my assets by two thirds. Whew.

That sounds great at first, but you're actually quite sad.

I feel it is my duty to handle the money responsibly and sensibly, to make the achievements of my ancestors "permanently usable" and to honor them.

But how?

Perhaps others have similar situations and questions to mine in this case, which is why I am sharing my thoughts and decisions in broad outline.

My "background" and experience with investments:

As you can see, I only joined the forum in April 2025 and I don't have much more experience with investing and the like. For the last 5 years, I only had a €300 savings plan on the S&P 500, yes, but it was all very passive.

Since April, I've bought a few individual stocks with "free capital" (<€25k) in addition to the ETF and had fun with them, e.g. with $IREN (+1.3%) which I picked up at €13 or €14, and I also enjoyed following analyses and thought processes here. It was all experimental and there were plenty of failures.

In the middle of the learning process, the inheritance came quite suddenly and I had to deal with it.

A planning approach

The money can't just "lie around".

What do I actually want to achieve?

• Bring retirement forward by x years (I would still have to work regularly for 9 years) -> how much non-working time can I buy myself? 5 years would be great. So in 4 years I would start paying myself €40-50,000 a year, which I could then significantly reduce again when I officially retire.
• A mobile home (<60k) would be nice.
• But I don't want to spend the money. It would be nice if some of it could be inherited with a high probability (we have two children).

Investment strategy

If I have already saved for my retirement myself, then I can also invest for a few more years with moderate risk. growth to make all my wishes come true. I've been thinking about this for a while and explain the result in the screenshot that shows the current portfolio:

My current allocation:

Explanations

The FTSE All-World as the bread and butter core investment covers 25%.

wikifolios (because hopefully people there have a clue) provide growth with 50% of the invested capital.

@Epi s 3xGTAA for momentum (S&P 500 and Nasdaq are covered)

Umbrella and PPInvest low Vola (WFPP999999) for growth with a very good risk/reward ratio (approx. 2!)

Special Situations long/short as an opportunity if Trump goes completely crazy (there is currently 50% cash in there for good reason)

A few percent cash as a reserve in the $XEON (+0.01%)
A few percent gold, silver and bitcoin (teaching money) as diversification

Investment income: $TDIV (-0.05%) and $MAIN (-1.39%) . These are my test field to see whether this is a suitable retirement strategy for a regular dividend income. Most of my savings currently go into these two. Profit-taking should also end up there.

Opportunities/risk assessment

The share-weighted Sharpe ratio across all these investments (excluding equities) should be pretty much exactly 1.

It should be clear that the previous internal rate of return of 24% since 10.11.2025 to date can certainly not be maintained. However, it is certainly my hope that I could - without having to put in a lot of effort - end up with 15-20% p.a.

And I'm keeping the 5-7% in individual shares for fun and learning, because I simply find the topic exciting. Perhaps this will lead to a reorientation in the distribution, but for the time being I'll start like this.

If I do something stupid with my plan, just say so!

Links to the wikifolios:

• 3xGTAA: https://www.wikifolio.com/de/de/w/3XGTAA
• Umbrella: https://www.wikifolio.com/de/de/w/wfumbrella
• PPInvest low Vola: https://www.wikifolio.com/de/de/w/wfpp999999
• Special Situations long/short: https://www.wikifolio.com/de/de/w/wfspecial2

Or: Volatility, dividends and why the tax office was my biggest cost factor

2025 is over and, looking back, it was a year that really had everything. Volatile markets, constant political bombardment, a portfolio with its own ideas and a private life that took very little interest in whether the market was red or green.

Nevertheless, at the end of the day, it was a year with which I am very satisfied overall.

Market and performance 2025

Looking at the major indices, 2025 was anything but boring:

• S&P500 fluctuated strongly and closed the year slightly negative or sideways (in EUR).
• MSCI World was able to catch up over the course of the year, but also remained without much euphoria.
• The DAX consistently outperformed and was up over 15 percent at times

As usual, my portfolio was more defensively positioned. In good market phases, I lost returns, but lost significantly less in weak phases. This is exactly what paid off, especially in the spring and summer.

The original target of 130,000 euros portfolio value (all portfolios together) was actually achieved by the end of the year. Not in a straight line, not without detours, but achieved is achieved.

Individual stocks and typical 2025 candidates

2025 had some clear winners, but also stocks that regularly demanded my patience.

Some of the stronger phases included

• Eli Lilly ($LLY (-1.78%) ) with several double-digit monthly gains
• Tesla ($TSLA (+2.27%) ) with typical +30 percent months, followed by equally typical setbacks
• UnitedHealth ($UNH (-0.56%) ) as an absolute rollercoaster with months between -20 percent and +15 percent

On the other side were

• Texas Instruments ($TXN (+1.54%) ), strongly influenced by tariffs and political uncertainties
• Ferrari ($RACE (+1.68%) ) with a rather disappointing performance despite a strong brand
• Classic consumer stocks such as Nestlé ($NESN (+1.28%) ) or Procter & Gamble ($PG (+0.27%) ), which were surprisingly weak at times

All in all, however, it has once again become clear why I focus on broad diversification and defensive stocks.

Dividends 2025, my personal highlight

The area that gave me the most pleasure in 2025 was clearly dividends.

Almost every month was up on the previous year. In some cases very significantly:

• February around +65%
• March around +29%
• April almost +50%
• June over +110%
• September around +45%
• December about +12%

July was weak, as expected, but that's part of it.

At the end of the year, I reached my personal target of of around 2,400 euros net dividends or even slightly exceeded it. In the end, the total net amount was €2491.38. This is an extremely important point for me because this figure is independent of market sentiment. The dividends also came in when share prices fell or the market was collectively in a bad mood.

My dividend ladder also looks good.

If things go well, I will even receive a net dividend of €3,000 in 2026. All I need is for the USD to get a little stronger.

Portfolio reorganization and better overview

I reorganized my portfolio in the summer.

• Share portfolio with individual stocks (and gold)
• Pension portfolio with ETFs
• 
  $XEON (+0.01%) as a separate building block for the later loan repayment

Nothing has changed in terms of strategy, but mentally it was a huge advantage. Since then, it has been clear what needs to be valued and what can simply be left to run. The view of the portfolio has become more relaxed and the reviews are much more structured.

The nest egg and the year of bills

2025 was also the year in which the topic of nest eggs caught up with me very clearly.

• Car repairs in the region of around 1,500 euros
• Tax arrears of over 4,000 euros
• In between, the charming idea of the tax office to make an additional advance payment of 6,500 euros

In the end, this was corrected, but the damage was done. At times, the nest egg had dwindled to less than 1,000 euros. And that's where you quickly realize why you build up such a cushion in the first place.

My personal resting point is now 5,000 euros. That lets me sleep peacefully. Nevertheless, I'm still consistently building up my nest egg to 10,000 euros, simply because 2025 has shown that unplanned expenses are always more creative than any planning.

Goals for 2025 and personal conclusion

Not everything went perfectly. I adjusted goals, reduced savings rates and questioned decisions several times. Nevertheless:

• Portfolio target of 130,000 euros achieved
• Around 20,000 euros invested in total including ETFs
• Net dividend target of approx. 2,400 euros achieved
• Structure and overview significantly improved

2025 was not a year for heroic stories or social media screenshots with all-time highs. It was a year for realism, learning and clean positioning.

And to be honest: if you can say at the end of the year that you achieved your goals, slept soundly and didn't permanently win the tax office, then the bottom line is that it was a good year on the stock market.

Is there anything else that interests you?

How did your 2025 go?

What did you take away from it?

If you liked the review, please follow me.

If you didn't, keep scrolling and hope that 2026 will be more spectacular.

Thanks to the inspiration from @Epi and a few months of reflection, I have built up my individual momentum all-world strategy and would like to refine it further for 2026 over the next few weeks.

Start allocation as of 11.07.2025:

50% ACWI $SPP1 (+0.55%)

15% Europe$SMEA (+0.82%)

10% SPYTIPS-Cool S&P500x2 $DBPG (+1.1%)

10% EM $EIMI (+0.83%)

10% Gold 2x $LBUL (+1.72%)

5% Bitcoin $BITC (-1.86%)

Cash Management

Cash investment: $XEON (+0.01%)

Basically, I check my positions at the end of the month (30/31/1) using the SMA or SPYTIPPSCooldown (Discord, thanks @SemiGrowth).

50% SPDR MSCI All Country World UCITS ETF EUR Hdg Acc (currency-hedged) $SPP1 (+0.55%)

• Buy/Sell: SMA200

Currency hedging rule:

• Condition: USD/EUR above SMA200 of the currency pair

Action: Switch to $NTSG (+0.58%)

15% iShares Core MSCI Europe UCITS ETF $SMEA (+0.82%)

• Buy/Sell: SMA200

10% SPYTIPS-Cool = S&P 500 2x Leveraged $DBPG (+1.1%)

Buy conditions (all must be met):

• S&P 500 (SPX) via SMA150
• iShares TIPS Bond ETF (TIP) above SMA200
• At least 15 days since last sell

Sell conditions (one is enough):

• SPX below SMA150 OR
• TIP below SMA200

Waiting period: 15 days after sale before new buy test Review15 days after purchase, then daily

10% iShares Core MSCI EM IMI UCITS ETF $EIMI (+0.83%)

• Buy/Sell: SMA200

10% Gold 2x Leveraged $LBUL (+1.72%)

• Buy/Sell: SMA200

5% CoinShares Physical Bitcoin ETP $BITC (-1.86%)

• Buy/Sell: SMA150

Cash Management

Cash investment: $XEON (+0.01%)

Sounds like a bit of effort at first, in fact I currently need max. 10 minutes a month for the audit itself.

Bitcoin left here at the beginning of December. I am currently invested in the rest. Due to the fact that silver (as a momentum commodity) convinced me in conjunction with @Multibagger (thank you), I added two shares on 23.10.25 and a further two shares on 22.12.25

WisdomTree Silver 3x Daily Leveraged $3LSI (+10.29%) were added to my portfolio. The purchase was FOMO, yes of course, emotion, yes too. I'm being completely honest with you here. However, I am more interested in finding a solution for implementing certain assets in my strategy in a certain percentage (up to max. 5%) depending on momentum and risk. (A rotational modification of the 3xGTAA)

For silver $3LSI (+10.29%) I currently follow the following trading principle:

• Test every Friday: SMA200
• SMA200 rises visibly
• Stop/Limit set

@Epi
@Multibagger
@Tenbagger2024 and of course all others too!

(1.) For silver (3x) I would like your advice on which stop/limit or which trailing stop might be a good fit.

(2.) Gold (2x) currently stands at +62.66% for approx. 40% of my profits. Now the question arises for me: Is a simple monthly check still sufficient in my momentum strategy or should I use an additional stop/limit/trailing stop to limit the downside in addition to rebalancing?

(3.) I can invest the same amount of money in the portfolio again today, i.e. double the investment amount. How would you proceed here? Invest the full amount directly and carry out the rebalancing?

(4.) With the 50% SPDR MSCI All Country World UCITS ETF EUR Hdg Acc (currency-hedged) $SPP1 (+0.55%) I am currently considering whether the Amundi MSCI World (2x) Leveraged UCITS ETF Acc $LVWC (+1.32%) might be a (better) fit for this strategy. I am aware of the increase in risk and a tightening of the rules for this position would be necessary. Due to the tendency for the USD to weaken next year as well, I am torn as to which makes more sense.

Adjustments for 2026 that are currently on my plan:

• [ ] Refine exit strategy for leveraged commodities/products
• [ ] First pool for rotation conversion for the 5% position (silver, bitcoin, etc...)
• [ ] S&P500 (2x) - increase SPYTIPPS-Cool in the allocation to 20% (+10%) and reduce the ACWI by 10%. I deliberately wanted to start with a lower level in the SPYTIPPS-Cool in the first year.
• [ ] ACWI position determination of which product(s) to continue investing in.

Finally: The portfolio itself stands at +17.38% from 11.07.25 to 31.12.2025.

Getquin gives me the following additional parameters:

Internal rate of return: 37.05

True time-weighted rate of return: 16.54 %

PS: THANK YOU ALL for your active participation! And a happy new year!

Hello everyone,

I am currently building up some cash as a liquidity reserve. I use TradeRepublic and am currently still enjoying 2% overnight interest. However, I wanted to ask if there are more lucrative alternatives or what you do with cash that can be accessed at any time?

One possibility is to invest in $XEON (+0.01%) Xtrackers Euro Overnight Rate Swap EUR (Acc). What ideas do you have?

After 6.5 years of experience, I changed my strategy and now only invest in the MSCI World. Over time, my portfolio was almost identical to the MSCI world or slightly better, hence the decision. I no longer feel like getting annoyed, buying too little, buying or selling too early, etc. I don't see myself in a position to outperform by stock picking in the future either, the market has changed significantly.

It is now easier and also cheaper for me to invest, especially as I will be parking some money in the $XEON (+0.01%) I will be parking some money for a property in the next 3 years.

$IWDA (+0.75%) and $XEON (+0.01%) thats it...

Hello,

short question, does it make sense from

$XEON (+0.01%)

to

$CSH2 (+0.01%)

switch?

It's about 5000€ and both are finanzen.net.zero

Thank you very much!

$XEON (+0.01%) A question for the group. I would like to invest my call money in this Etf. At Ing you currently get 1% on the call money.

However, the purchase cost me around €18 in commission and fees, which eats up the credit interest for an eternity. Any suggestions?

Thank you

to top up his savings rate.

I'm not sure, but lately there's always something left over in the account...and I have to admit I'm too lazy to transfer it to the call money, the interest rates aren't great either.

So a new savings plan, with slightly better interest rates, might also bring some stability to the portfolio and you can still access it if necessary.

What do you think, a mistake or ok

How do you handle it?

Hello everyone,

In December, 10k€ will be released from old fixed assets. My plan was to put this completely into the $XEON (+0.01%) as the plan was to use the money in 3 years to pay off a loan. But now I'm thinking about whether I should increase my $VWRL (+0.64%) and see what the current interest rates are in 3 years' time and decide whether I should repay the loan or continue to finance the remaining debt (it's my apartment).

As I said, these are the considerations - now I need your swarm intelligence or your opinion - $XEON (+0.01%) or $VWRL (+0.64%)

thanks in advance...