Let's see what happens in 2026 🙊 👩🏻‍🚀

$VUSA (-0,28%) ☝️

$EQQQ (-0,84%) ☝️

Europe 😯 ☝️

$NOVO B (+1,14%) -47,44% 🥺

Japan ☝️

My goal for this year was to reach a portfolio value of €40,000. I more than met that goal. In January, my portfolio was still at €14,000. This year I deliberately deposited a lot and worked hard. Step by step, the amount continued to grow. This eventually resulted in a portfolio value of €50,000. The fact that I was able to achieve this at around age 22 makes it extra special. Secretly I am quite proud of this. On to more highlights!

(For the sourpusses among us, the % on getquin of 3% total profit/loss is not correct, this is +-10%. Still not shockingly much of course, but the honest story 🙂 ).

$BTC (+1%)
$VWRL (+0,67%)
$TDIV (+0,73%)
$JEGP (+0,32%)
$JEPQ (+0,01%)
$VUSA (-0,28%)

While I wandered through Rostock and Schwerin, spent a frugal night and found a moment of peace in Schwerin Cathedral, my depots simply carried on doing their thing. No hectic rush, no manual interventions, no nervous glances at my smartphone. The automation of my reinvestments, savings plans and standing orders is simply worth its weight in gold!

And then, right in that moment of silence in the cathedral, a message demanded my attention. It was the moment when the biggest dividend of the month arrived. A sign from the very top, or timing straight out of a picture book? Back home at the end of the month, a new player became apparent in the portfolio, which advanced into the top 5. But catching up with my strongest stock is still a long way off for the new challenger. Time for a review.

Overall performance

For me, November in general was the same as always: steady and boring. I didn't even really notice that the US budget shutdown had ended. Just as well, because business as usual can continue.

My key performance indicators for my overall portfolio at a glance:

• TTWROR (month under review): +1.40 % (previous month: +1.39 %)
• TTWROR (since inception): +79,75 %
• IZF (month under review): +18.54 % (previous month: +9.65 %)
• IZF (since inception): +11,22 %
• Delta: +1,211.47 €
• Absolute change: +€2,398.46

Performance & volume

$AVGO (-0,35%) remains the heavyweight in the portfolio, but as mentioned in the introduction, there is a new challenger that made significant gains in November and has now moved into the top 5. $GOOGL (+0,93%) pulls past $BAC (+1,29%) . They have just delivered. New Gemini and Nano Banana version. The constant new advances in AI are the clear driver here. But watch out! The question in the future will be who will earn money with AI. Will it be those who have integrated it into their products or those who create the basic prerequisites for its use via data centers and hardware? I am curious.

And even if this competition is super exciting, these values are not in my sights, more on that later in the outlook.

Size of individual stock positions by volume in the overall portfolio:

Share ( %) of total portfolio (and associated portfolio):

$AVGO (-0,35%) 3.57 % (main share portfolio)

$WMT (+0,48%) 1.75 % (main share portfolio)

$GOOGL (+0,93%) 1.56 % (main share portfolio)

$NFLX (-2,61%) 1.60 % (main share portfolio)

$BAC (+1,29%) 1.46 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

Share ( %) of the total portfolio (and associated securities account):

$NOVO B (+1,14%) : 0.45 % (main share portfolio)

$GIS (-2,36%) : 0.56 % (crypto follow-on portfolio)

$BATS (+0,52%) 0.57 % (main share portfolio)

$TGT (+2,74%) 0.57 % (main share portfolio)

$MDLZ (-1,89%) 0.59 % (main share portfolio)

Top-performing individual stocks

Shares with performance since initial purchase ( %) (and the respective portfolio):

$AVGO (-0,35%) : +369 % (main share portfolio)

$NFLX (-2,61%) +120 % (main share portfolio)

$GOOGL (+0,93%) +119 % (main share portfolio)

$WMT (+0,48%) +95 % (main share portfolio)

$OHI (+0,52%) + 90 % (main share portfolio)

Flop performer individual stocks

Shares with performance since initial purchase ( %) (and the respective portfolio):

$TGT (+2,74%) : -35 % (main share portfolio)

$GIS (-2,36%) : -35 % (main share portfolio)

$NKE (+3,35%) -31 % (main share portfolio)

$NOVO B (+1,14%) -29 % (main share portfolio)

$CPB (-0,83%) -26 % (main share portfolio)

Asset allocation

Equities and ETFs currently determine my asset allocation.

ETFs: 41.3 %

Equities: 58.6 %

Crypto: 0.0 %

P2P: less than 0.01 %

Investments and subsequent purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: € 1,030

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,140

Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, the following additional investments were made from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 75.00

Subsequent purchases/one-off savings plans as a cashback annuity from bonuses: € 21.98

Subsequent purchases from other surpluses: € 0.00* (additional purchases are only made in December)

Automatically reinvested dividends by the broker: € 2.08 (function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

Unscheduled purchases were made on various securities accounts outside the regular savings plans:

Number of unscheduled purchases: 9

21.98 € for $SPYW (+0,36%)

35.00 € for $SPYW (+0,36%)

40.00 € for $GGRP (-0,02%)

35.00 € for $GGRP (-0,02%)

Passive income from dividends

I received € 113.15 in dividends (€ 82.45 in the same month last year). This corresponds to a change of +37.36 % compared to the same month last year. For a rather weak month, this is a great sum, which I am grateful for and from which I made a small donation in addition to reinvesting, as I did in September and October. Other key figures:

Number of dividend payments: 22

Number of payment days: 10 days

Average dividend per payment: € 5.60

average dividend per payday: € 12.32

The top three payers in the month under review were:

$IWDP (-0,01%)

$ZPRG (+0,4%)

$HTGC (+1,05%)

My passive income from dividends (and some interest) mathematically covered 12.59% of my expenses for the month under review. Acceptable for a weak month with medium-high expenses (by my standards).

Crypto performance

As I play by the cycle theory, I got out of crypto completely in October. The share was previously insignificant in my portfolio anyway, but the harvest has nevertheless been reaped. Only the Oracle of Delphi knows whether I am right with my approach. There was more in an earlier getquin post from me, in which I explained my assumptions and strategy in detail.

So there are no key figures to report. Now it's time to learn and understand.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows the TTWROR in the current month (and since the beginning):

My portfolio: +1.40 % (since I started: +79.75 %)

$VWRL (+0,67%) -0.50 % (since my start: 62.52 %)

$VUSA (-0,28%) -0.48 % (since my start: 58.04 %)

Finally performed better than my chosen benchmark ETFs.☺️

Risk figures

Here are my risk figures for the month under review:

Maximum drawdown: YTD: 17.17% (month under review: 2.34%)

Maximum drawdown duration: 702 days since inception (reporting month: 14 days)

Volatility: YTD: 28.15 % (in the month under review: 2.44 %)

Sharpe Ratio: YTD: 0.39 (in the month under review: 7.63)

Semi-volatility: YTD: 20.91 % (in the month under review: 1.75 %)

The maximum drawdown of 702 days since the beginning is a long period 2022-2023 before the year-end rally began at the end of 2023. Otherwise the figures suit me well.

My Sharpe ratio of 0.39 YTD shows that I have achieved a return of 0.39 units above the risk-free rate per unit of risk.

My vola of 28.15% YTD is the direct footprint of the loud roar and then small cave-in of Trump's tariff policy. It has proven itself again: For me as a long-term investor, what counts is simply staying calm and buying the dip when another dip comes.

Outlook

I still have some money left over from my food and drugstore budget, but I won't be (re)investing it until December with the surpluses I hope to have by then. I've chosen a boring REIT that won't be $O, but still pays out monthly dividends and has long been a position in my portfolio. Strictly speaking, I've seen little or no mention of this stock among the financial tycoons recently. You'll see which one in the next review.

The last point will be a little more personal again. Loyal readers of my reviews will know from the August review that this summer I was diagnosed with aortic ectasia of the ascending aorta near the heart as a result of the bicuspid and insufficient aortic valve. An incidental finding that will be treated with the necessary seriousness through close monitoring and an upcoming operation. And precisely because of this, it is no longer the ticking time bomb that it would be if it were still undetected and possibly larger. The knowledge of this and now my own adjustment to day X is gradually changing my way of thinking. Before the discovery, when I was just a patient with a leaky aortic valve who regained a lot after changing my lifestyle for the better, e.g. exercise, I was influenced by the idea that I had a lot of time to implement what was on my mind. Now I know that I want to get a few things done before the day of the procedure and the lengthy recovery. I am now aware of the issue of time in a whole new way. Why am I writing this publicly? Because I want to show that finances are certainly important, but only one piece of the puzzle of life.

So, that's enough writing. With that in mind, have a wonderful Christmas.

Thank you for reading. Stay healthy and happy!

👉 You can also see my review on Instagram from next week (portfolio review from 8.12.25 and budget review from 9.12.25).

📲 In addition to the portfolio and budget review, there are currently three posts a week: @frugalfreisein

!!! Please pay close attention to the spelling of my alias. Unfortunately, there are too many fake and phishing accounts on social media. I have already been "copied" several times.

👉 How was your month at the depot? Do you have any tops and flops to report? Leave your thoughts in the comments!

One question is aimed at Austrians and has to do with taxes (2.) and the other question is aimed at Trading View users 🫶 (1.).

Dear traders, I have been looking for hours for a decent indicator that graphically displays COT data as a chart. Unfortunately, my search has been unsuccessful so far. Can you recommend a specific indicator?

Let's assume I have an ETF position with a non-taxable broker abroad. This could be Scalable or Finanzen Zero, for example, and I would now like to transfer the ETF to Flatex Austria. Theoretically, the profits would then be taxable as it is a transfer from abroad. So far so good, but what does it look like in practice? Will the tax be deducted automatically or will the transfer still be carried out as normal and I will then be responsible for the tax transactions? This would open up a number of scenarios. One would be that, depending on the timing, I could enjoy a 1-year tax deferral or simply forget about it. 🤭 Who has ever done a custody account transfer like this and how does it work in practice? Specifically, it's about $VUSA (-0,28%) and $HMWO (-0,02%)

🛡️ My "3-pillar portfolio": cash flow as an interest shield before 2028

Hello community,

Since there are controversial discussions under every post about CC ETfs

-> here are my reasons why I have them in my portfolio (and yes I have ki in the conversation)

At the age of 43, I am not only concerned with growth, but above all with risk management - because my real estate interest commitment expires on 30.09.2028, with a remaining debt of € 147,000.

My goal is to set up the portfolio in such a way that I can either offset the refinancing costs or pay off the debt completely.

1. the logic: cash flow meets growth

My investments are divided into three pillars with a clear function:

The cash flow engine

$JEPQ (+0,01%) & $JEGP (+0,32%) /JEPI

Generation of high monthly income (option premiums)

The growth cores

$HMWO (-0,02%) (MSCI World) & $VUSA (-0,28%) (S&P 500)

Long-term build-up of capital and substance

2. the strategy:

Two phases for the JPM cash flow (approx. 450 € net/month)

I use the high monthly net income from JEPQ/JEPI flexibly in two phases to achieve my goals:

🟢 Phase 1: Accumulation (Currently until approx. 2027)

* Measure: The monthly JPM distributions are reinvested directly into the VUSA ETF.

* Purpose: Utilize interest rate arbitrage (pay 1.88% interest, generate 8-10% gross return) to accelerate growth capital. The reinvestments are expected to increase the VUSA portfolio by over € 30,000 by the reporting date!

* In addition: The HMWO will continue to be built up separately with its own savings rate.

🔴 Phase 2: The interest shield (from 2028)

* Measure:

Reinvestment ends. The JPM cash flow is used to offset the increased monthly burden of the follow-up financing.

* Result: Even with a pessimistic 5.0% interest rate, the additional monthly burden of approx. +€227 is more than doubly compensated by the JPM cash flow (approx. €450 net).

Growth in VUSA and HMWO can continue.

3. the ultimate flexibility in October 2028

Thanks to the deposit cushion of an estimated € 259,000 built up over the next few years, I can choose freely on the refinancing date:

* Option A (Further growth): finance € 147,000 at the then applicable interest rates and subsidize the higher rate with the JPM cash flow. The entire growth deposit is retained.

* Option B (debt-free): Partially liquidate the deposit and pay off the €147,000 remaining debt in full. The property would be debt-free and my rental income of €520 would be pure surplus.

4. the tax advantage

Since all my ETFs (JEPQ, JEPG, VUSA, HMWO) receive the 30% partial exemption for equity funds, there is no tax disadvantage for the high-yield JPM funds compared to the growth stocks.

In addition, the rising interest costs of the property can be offset against the total income for tax purposes as income-related expenses from 2028.

Conclusion: I deliberately trade maximum capital growth in strong bull markets for financial security and compensation with a calculable real estate debt risk.

The JPM ETFs are

my active "interest rate buffer". -> we'll see if that works out

@Koenigmidas -> we've already had this conversation on another channel😅

October was the month of big decisions and consistent adherence to the plan! While the crypto market was still euphorically looking upwards, I think I recognized the signals: The bull market came to an end around October 21, For me it was time for an exit from this asset class. With the exception of a small holding of a few euros in $BTC (+1%) as a souvenir, I am completely out of crypto. Everything was shifted to my crypto successor portfolio. Sure, there was a brief tingling sensation and I wondered whether I was getting out too early.

But there are plans precisely for scenarios like this. To conquer emotions that jeopardize profits and let discipline prevail. And how am I feeling now after the exit? Pure relief! Finally no longer sitting there hoping that things will rise to my desired level or stay there. I'll reveal in detail what happens next for me in the coming year.

At the same time, the half-year bonus was added to the portfolio, the dividend base was broadened and I was able to relax and let it all sink in while hiking in the autumn air. My portfolios continued to do their job. The cash flow is flowing. Time for a review of a month that shows that a strategy beats FOMO.

Overall performance

October brought another boost for me in some assets, while others consolidated somewhat. Perhaps this is already a sign that stocks are positioning themselves for the year-end rally? I am firmly convinced that the current shutdown in the US administration will not act as a brake here. My key performance indicators for my overall portfolio at a glance:

• TTWROR (month under review): +1,39% (previous month: +1.76%)
• TTWROR (since inception): +77,04%
• IZF (month under review): +17,65% (previous month: +9.64%)
• IZF (since inception): +10,94%
• Delta: +1,160.94€
• Absolute change: +€2,224.10

Performance & volume

$AVGO (-0,35%) is still my largest single position, but is losing momentum this month. However, its distance to the other positions is large enough, no one in the portfolio can hold a candle to my +337% share. But $NFLX (-2,61%) and $GOOGL (+0,93%) and others are trying hard to get there. Alphabet is now in the top 5 by volume and performance. I like the company. With YouTube and Cloud Services, they have good cash cows that enhance traditional search. And this is now also being upgraded with Gemini integrated into search. And Nano Banana ... wow.

Google is not always the leader, but it is always catching up. The competition between the tech giants is a spectacle that I love to watch.

And yet I prefer to rely on the more stable industries. Even the $BAC (+1,29%) and $WMT (+0,48%) continue to cut a good figure. Boring, but still good businesses that generate income. That's what I want! These are really two sectors that I have become very fond of. Nevertheless, the red lantern once again goes to $TGT (+2,74%) which continue to have a hard time. But I'm sticking with it and buying more. Because $TGT (+2,74%) is systemically relevant and will not go to the dogs. They just have problems with theft and competition.

Size of individual share positions by volume in the overall portfolio:

Share (%) of the total portfolio and associated securities account:

$AVGO (-0,35%) 3.14% (main share portfolio)

$NFLX (-2,61%) 1.72% (main share portfolio)

$WMT (+0,48%) 1.65% (main share portfolio)

$BAC (+1,29%) 1.48% (main share portfolio)

$GOOGL (+0,93%) 1.41% (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

Share (%) of the total portfolio and associated securities account:

$NOVO B (+1,14%) 0.45% (main share portfolio)

$BATS (+0,52%) : 0.50% (crypto follow-on portfolio)

$GIS (-2,36%) 0.55% (main share portfolio)

$TGT (+2,74%) 0.58% (main share portfolio)

$MDLZ (-1,89%) 0.60% (main share portfolio)

Top-performing individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

$AVGO (-0,35%) : +337% (main share portfolio)

$NFLX (-2,61%) +151% (main share portfolio)

$GOOGL (+0,93%) +99% (main share portfolio)

$WMT (+0,48%) +77% (main share portfolio)

$BAC (+1,29%) + 74% (main share portfolio)

Flop performer individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

$TGT (+2,74%) : -35% (main share portfolio)

$GIS (-2,36%) -34% (main share portfolio)

$NKE (+3,35%) : -32% (main share portfolio)

$NOVO B (+1,14%) -28% (main share portfolio)

$CPB (-0,83%) : -27% (main share portfolio)

Asset allocation

Due to my crypto reallocation, the ETF share is increasing. My asset allocation is as follows:

ETFs: 41.5%

Equities: 58.4%

Crypto: less than 0.01%

P2P: less than 0.01%

Investments and subsequent purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: €1,030

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: €1,140

Savings ratio of the savings plans to the fixed net salary: 49.75%

In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 73.00

Subsequent purchases/one-off savings plans as a cashback annuity from bonuses: € 894.97

Subsequent purchases from other surpluses: €31.00

Automatically reinvested dividends by the broker: €2.76 (function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

Additional purchases from crypto sales: €1,604.86

Additional purchases were made in various custody accounts outside the regular savings plans:

Number of additional purchases: 9

124.97€ for $SPYD (-0,05%)

770,00 $JEPQ (+0,01%)

28.00€ for $JEGP (+0,32%)

45,00€ for $GGRP (-0,02%)

477,77€ for $DXSA (+0,91%)

252,51€ for $EXX5 (+0,41%)

270,99€ for $SHEL (+2,78%)

102,97€ for $HSBA (+1,4%)

445.58€ for $BATS (+0,52%)

Passive income from dividends

My income from dividends amounted to € 148.90 (€ 81.32 in the same month last year). This corresponds to a change of +82.43% compared to the same month last year. The strong increase is due to the fact that my large Vanguard ETFs postponed the distribution to the reporting month. Further key data on the distributions follows:

Number of dividend payments: 26

Number of payment days: 10 days

Average dividend per payment: €5.73

average dividend per payment day: €14.89

The top three payers are:

$ISPA (+0,94%)

$VHYL (+0,84%)

$VWRL (+0,67%)

My passive income from dividends (and some interest) mathematically covered 16.05% of my expenses in the month under review.

Crypto performance

My crypto portfolio is distorted by the sell-off and will not be calculated again until I get back in. That will now take quite a while. I got out later than I wanted to, but still made a good profit. Only the Oracle of Delphi knows whether I am right with my approach. My key figures:

Performance in the reporting period: -

Performance since inception: -

Proportion of holdings for which the tax holding period has expired: 100%.

Crypto share of the total portfolio: less than 0.001%

Now it's time for the same thing as last crypto winter. Learning and understanding. And the current crypto winter hasn't even started yet. However, I think that prices will fall less sharply than in previous cycles and that the decline will be more orderly due to institutional adaptation. That's a good thing right now, as it makes it easier to get back in.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows:

TTWROR (current month): +1,39%

$VWRL (+0,67%) : +4,66%

$VUSA (-0,28%) : +2,76%

I am lagging behind the ETFs. 🤷🏼‍♂️

Risk ratios

Here are my risk figures for the month under review:

Maximum drawdown: 1.94% (YTD: 17.17%)

Maximum drawdown duration: 13 days (YTD: 702 days)

Volatility: 2.51% (YTD: 28.02%)

Sharpe ratio: 7.03 (YTD: 0.39)

Semi-volatility: 1.69% (YTD: 20.82%)

A drawdown of only 1.94% in October? That's exactly how it should be. While the markets trended sideways to slightly upwards, my portfolio remained frighteningly boring. And in the best sense of the word. The volatility of 2.51 % and the semi-volatility of 1.69 % confirm that my crypto exit has increased the stability of my portfolio. No more wild swings, just solid growth. The Sharpe ratio of 7.03? Brutally good. Maybe Trump's China deal helped the markets, maybe it was just my perfect timing. No matter! The figures speak for themselves: strategy beats chaos.

Outlook

Thanks for reading, this time I want to keep the outlook deliberately short. I'm glad that you're honoring the several days of work in front of the computer in the evenings when others are chilling with Netflix with your lifetime. I don't have anything else for the miscellaneous category this time. If you want to know what else is on my mind, please refer to the August review. I'll have something to say about that next December, I think. Stay safe and sound!

👉 Would you like to see my review as an Instagram Carousel post?

Then follow me on Instagram:

📲 In addition to the portfolio and budget review, there are currently three posts a week: @frugalfreisein

Please pay close attention to the spelling, unfortunately there are too many fake and phishing accounts on social media. I have also been "copied" several times now.

👉 How was your month in the portfolio? Do you have any tops and flops to report?

Leave your thoughts in the comments!

$NOVO B (+1,14%)

I had actually planned to buy Novo this week at around DKK 300.

Today could have been the day, but the entire market is currently correcting.

So I'm wondering: in your opinion, are there better opportunities at the moment that should definitely be picked up?

$VUSA (-0,28%)

$EQQQ (-0,84%)

Update:

I have then $ASTS (+15,45%)
$VST (+2,49%)
$PATH (-5,66%) and $HIMS (-1,79%) bought/repurchased

$CSPX (-0,29%)
$IWDA (+0,01%)
$EIMI (+2,77%)
$CSNDX (-0,87%)
$VUSA (-0,28%)
$VHYL (+0,84%)
$SPYI (+0,34%)
$HMWO (-0,02%)

https://www.whitehouse.gov/fact-sheets/2025/11/fact-sheet-president-donald-j-trump-strikes-deal-on-economic-and-trade-relations-with-china/

President Trump announced an economic and trade agreement between the USA and China:

- China suspends all retaliatory tariffs and non-tariff measures imposed since March 4

- China issues new general licenses for the export of rare earths and suspends new export controls.

- China pledges to stop the flow of fentanyl to the US

- China will buy at least 12 million tons of US soybeans

- The USA reduces tariffs on Chinese goods by 10 percentage points

The biggest de-escalation in relations between the US and China since the start of the trade war.

China 🇨🇳 will suspend all retaliatory tariffs and non-tariff measures in place since March 4, lift export controls on rare earths, issue global licenses for rare earths and critical minerals such as gallium and graphite, and commit to buying 12 million tons of US soybeans this year and 25 million tons annually through 2028. China will also take "significant measures" to stop fentanyl shipments to the US.

In return, the U.S. 🇺🇸 will reduce tariffs on Chinese imports imposed to curb fentanyl trade by 10 percentage points of the cumulative tariff rate, effective November 10, 2025, extend Section 301 tariff exemptions through November 2026, and suspend new export control measures for one year.

After a lot of back and forth, I found my way.

The last few years on the stock market have been a learning and growth process for me. Of course, this process is far from complete, but I am now at the beginning of my own path and am ready to continue on it consistently.

It wasn't always like this.

I tried a lot of things on the stock market, sometimes dividend shares, then quality shares or strategies à la Finanzfluss and Co. but none of it was really mine.

So in the end, through trial and error, I came up with my own approach: my 3-pillar model, which I would like to briefly introduce here.

• The 1st pillar - long-term buy & hold

This pillar consists of long-term positions that I never sell.

Currently, these are my world and US ETFs and Bitcoin. Gold and a dividend ETF will probably be added in the coming years.

• The 2nd pillar - momentum and growth

This is about selected stocks with a focus on growth and momentum.

I trade actively and will try to take out my net investment (and possibly some profit) as often as possible.

Example: With a price gain of around 138%, I can sell 50% at the Austrian tax rate and have the net investment back out again.

German investors can already be happy at around 133% (I have not included the tax-free amount here).

I then let the remaining profit continue passively over the long term.

• The 3rd pillar - trading

The third pillar consists of short-term trading, mainly on a daily and weekly basis.

How it all works together

Profits from the second and third pillars currently flow partly into the first pillar and partly remain to strengthen the respective pillar.

Over time, the proportion that goes into the first pillar will increase.

This creates a small leverage effect, if you like, on my ETF savings plan.

My goals and risk appetite

My overriding goal is to achieve financial independence before the age of 50. Ideally, the distributions from my first pillar will then be enough to cover my living expenses.

My savings rate is currently around 50 % and I still have around 20 years to go, although I'd like it to go faster of course.

That's why I'm also attracted by the idea of perhaps being able to make a living from trading at an earlier stage, giving me a bit of freedom.

But the risk is very high, especially in the third pillar, but also in the second pillar, and a total loss would be quite possible there.

I am aware of that. That's why I give the highest weighting to the first pillar, which is my foundation, i.e. the core.

If there were to be a major market crash, I would make targeted additional purchases here.

Thank you for reading and for accompanying me on my journey

---------------------------------------------------------------------------------------------------------

$BTC (+1%)

$VUSA (-0,28%)

$HMWO (-0,02%)

$VWRL (+0,67%)