When I was 24, my account balance was -2,000 euros. I had completed a top education and was already earning a solid salary. But my financial education was very limited and focused on consumption as much as possible. My girlfriend at the time kept pointing out to me that what I was doing was not entirely sustainable.
But it wasn't until I started looking at the bigger expenses in life, such as a house, that it gradually clicked for me. You need staying power and a high savings rate to be able to afford something like that.
In 2017, I radically changed my life and threw all unnecessary consumer spending overboard in order to find out what I really need to live. My savings rate quickly reached four figures a month and my current wife also picked up the ball.
We started with real estate investments until I discovered my love for the capital market in 2020 with a EUR 250 savings plan in ETFs. The real estate flips took a lot of work, time and energy. But in the end, they accelerated our wealth accumulation once again.
But in terms of portfolio building, I'd like to share what I've learned.
In January 2020, we started with a small savings rate. Then came the well-known flash crash in March 2020. I spent a whole night reading like a madman because I felt I had to invest now. I was able to reallocate a few thousand euros in the short term and invest in shares with strong timing (Amazon, Cisco, Munich Re, BASF,...).
As the shares all rose again quickly, I thought I had understood the principle. If there's a fire, put money in, wait and good.
Of course, greed got the better of me...
Wirecard and a Shitcoin then quickly provided me with the necessary learnings. Once 700 euros and once 900 euros were wiped out within hours as a total loss.
But even though it was clear to me that I would be better off with ETFs, I kept wanting to know more and thought about many stock presentations on the net. Oh yes, she'll be a tenbagger... That was never the case.
Fortunately, I got my act together.
It took my portfolio just under 1 year to break 10k. About 4 years to break 100k. Only a year and a half more to break 250k and, due to the sale of an apartment to shift into ETFs, 400,000 euros have now fallen...
A sum I dreamed of when I was 50. It has now been achieved... at 33... 🙏
When I first went to getquin or Thomas von F. or Sumit and saw portfolios like that, I didn't expect it to be possible.
So, no matter where you are today. Ten years ago I was at -2,000 euros.
Believe in yourself and keep at it!
