@GoDividend I come from a foreign family myself, and I know what it's like to have very little. That's why I think it's even more important to make something of your life. So that your parents and siblings can see what you can achieve in life to make them proud
Very nice, keep going. Of course, €500 doesn't sound like much to many people here. But it's important that you invest and use the money you've earned/received. Hopefully you won't rest on your laurels and keep going durch💪🏻
@Ineb_k That's not a bad thing. It's just important that it's consistently put into a savings plan. And that you adjust the savings plan upwards over time, if possible. For additional money, you can often set the savings plan higher once and then lower it again after execution ;)
@Ineb_k Very good, because that's the main reason for it. :D Otherwise, I would leave it as it is for now and continue to save diligently, adjust the savings rate if necessary as soon as possible and acquire more knowledge on the side. Here on the platform, or on good YouTube channels such as Finanzfluss or Finanztip.
Focusing on one ETF makes sense to start with. But why don't you take a more aggressive approach? You're young and need to build up capital quickly. With 7%pa, it will take you forever to get anything real.
@Ineb_k What do BTC and $DBPG have to do with gambling? Higher risk yes, but there are a lot of people here who have normal savings plans on both.
Then your world ETF with its -60% max drawdown would also be gambling. 😅
If in doubt, read up on the topic of age-dependent risk optimization in retirement provision (a lot of risk for a lot of return at the beginning, so that in the end little risk for little return, so that overall less risk for more return). Hardly anyone here understands this, which is why many start their investment career with world ETFs or worse, with dividend ETFs.
Congrats! I still remember when I hit this mark! You’ll see that even after a couple of years your depot can increase a lot. Smart take on just only 1 ETF!
Bravo! Just don't give in to the temptation of fast money or the new top share. My first million lire (~€250 without inflation today) shaped me as a child but always drove me on. Let your 500€ be your guiding star, in the end you are suddenly wealthier than all your friends. 🤝 Just don't be discouraged by all the multimillionaires here! 👍