Strategy Update 2026

Hi folks,

I'm about to make a major strategic change to my portfolio this month. I have cracked the €120,000 mark 🎉 and have taken this as an opportunity to weatherproof my allocation for the coming years.

Here is my roadmap:

1. the tax "life hack": FIFO optimization 💡

I stop my previous core ETFs ($VHVG (+0,74%) , $MEUD (+0,4%) , $EXCH (+0,54%) ) and leave them untouched. Why? In Germany, the FIFO principle (First-In-First-Out) applies. By saving new ISINs from now on (MSCI World ex-USA, NASDAQ 100 & MSCI EM), I "protect" my old shares with the high book profits. Later, I can sell the younger tranches first with less profit and massively defer the tax burden.

2nd core update: USA cap & EM limits 🌍

From now on, my core (approx. 74% of the portfolio) will be re-saved with €280 per month. I love US performance, but don't want any bulk risk:

USA cap: maximum 55% in the core.

Emerging markets: cap at 10%

3. satellite & venture: my high-conviction stocks

This area should make up 20% of my portfolio. Here I invest €400-600 per month in themes that I absolutely believe in. Currently in focus:

Cloudflare ($NET (-0,43%) ): Infrastructure & cybersecurity are the basis of everything for me.

Siemens Energy ($ENR (+0,96%) ): My play on the energy transition and grid expansion.

Hims & Hers ($HIMS) (+2,1%)Exciting disruptor in the telehealth sector.

Tech from the Far East: With Xiaomi ($1810 (-4,17%) ) and CATL ($3750 (-1,77%) ) I cover important future markets.

Coinbase $COIN (-1,4%) complements my direct Bitcoin holdings (target: 3.5% crypto share of the overall portfolio).

Other additional stocks are $NBIS (+7,57%) , $000660 and $RKLB (+8,27%)

4. the big goal: retirement in 2054 🏁 or perhaps even earlier

The math is done: I am aiming for a final capital of around € 780,000 by 2054. With a sustainable withdrawal rate of 4%, this will give me a monthly pension of around €2,600 without having to deplete the capital stock in the long term, thus closing my pension gap. It should be mentioned in the calculation that I calculate with a 5% return per year instead of the expected long-term return of 7-8% and therefore include a safety factor.

The whole thing is rounded off with a 3% share of gold (Euwax Gold II) and 17% bonds as a safety anchor.

What do you think of the FIFO tactic? Do you also use different ISINs for the same market in order to remain flexible in terms of tax, or is that too much "portfolio messing around" for you? 😉 And what do you think of my selection in the venture sector?

All-in-or-nothing@All-in-or-nothing

I have also already consumed a lot of information on FiFo optimization. However, the usual recommendations for ETF switching there usually refer to the previous savings period, not to the capital paid in. Depending on the investment period, ISIN changes are common every 10 years. How long have you been saving in your existing core fund?

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Mi(t)chel@Mi-t-chel

@All-in-or-nothing my current core for approx. 5 years, whereby a larger starting capital has also gone into it, so that I plan to make the change this year and the new ETF's should then be saved for approx. 5-10 years.

Olli@Olli68

I like your thoughts. Except for one thing: what is the point of 3% gold as a safety anchor? If it were at 10%, it would fulfill its function somewhat better.

@Olli68 Bonds are also part of the security component. Therefore gold only at 3%. Especially as it has performed very well to date.

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@Mi-t-chel Given the current level of government debt, I no longer see bonds as a safety anchor. They have also performed quite parallel to equities in recent years.
The only investments that have run relatively counter to equity markets are gold and individual sectors within equities. But perhaps we have different definitions of "safety anchor".

@Olli68 Bonds are not always government bonds. For me, they tend to be corporate bonds. Precisely for the reason of government debt. And gold has gone too far for me at the moment.