It's great that you're already thinking about investing at your age. If I were you, I would allocate your savings to overnight accounts or money market ETFs for now. I can recommend you this book 😊: https://www.amazon.de/reichste-Mann-von-Babylon-Erfolgsgeheimnisse/dp/3442163838/ref=sr_1_1?crid=1CZQYEAFYGC00&keywords=der+richest+man+from+babylon&qid=1695203058&sprefix=the+richest+man+%2Caps%2C140&sr=8-1 These are the things I wish I had known about finaznen when I was 18 :). If I were 18 again, I would make it a habit to invest 10-20% of my income in an ETF savings plan right at the beginning of the month. On that note, I highly recommend the Vanguard FTSE All Country ETF as it's a solid long-term option. To me, it would be important to be consistent with this strategy and adjust the savings plan as your income increases. The rate can be higher at times, but I would never let it drop below 10%, which would be my base investment. I would possibly choose the ETF to be distributing rather than accumulating. This would give me the choice of reinvesting the dividends back into the ETF or into individual stocks. This will probably only become really interesting after a term of more than 10 years. Regarding the portfolio, I would make sure to invest in a very broad ETF first. This may not be very exciting, but in your scenario you would still have 47 years until you are 65, and the money can work for you during that time. In keeping with the motto, "Time in Market Beats Market Timing." Then, when you have reached a large enough portfolio size of more than 10,000€ and your monthly savings rate is significantly higher, you could possibly start with small individual positions, but no more than 5% of your portfolio value. In addition, at your age, I would try to increase my cash flow. You could look for a side job on a 520€ basis or consider a vacation job. This could help you to significantly increase your current income of 60€ and thus massively increase your monthly savings rate.
•
11
•
11Mes
@RausAusDemHamsterrad Many thanks for your tips! Unfortunately, I lost sight of replying to them at the time. But I've just gone back through the comments on the post and saw your comment again. I've now implemented the ETF savings plan, but have opted for the $LCUW, as the $VWCE has performed worse so far. And if the higher-weighted developing countries in it pick up momentum, this will be more of a long-term trend, so there will still be time to reallocate. My profits from the current investment will probably not be so big that I would have to worry about the tax-free allowance of €1000. In the meantime, I have already read the book you suggested and definitely find it very interesting. I will definitely take the advice in it to heart.
•
11
•