Hi everyone!
I’ve been thinking about it for quite some time, i have 30k in my savings and I’m 21 this year. I don’t want to waste my money on some car or something like that like most people my age do. I want a long-term looking investment (decades). I’m already investing in my education, business etc and I’ve been thinking on buying a house just to be fine if things go for the worst (I’m living in a EU country, but I would like to buy a house in my home-country which is an Eastern European country and you can get good houses for that low.)
Another thought was on investing in some fund..
What do you olders think?
15 comments
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Enjoy your 20s, travel around and do stuff that you like. You will appreciate those memories forever, don’t spend crazy amount of money of that of course but try to do it as much as possible
Owning shares in important key companies of the future will be of the most value.
Soon, the concept of “money” may disappear entirely.
Real estate is not a good investment because the high upkeep costs and taxes involved often force people into more debt.
I appriciate, when young people already know, what took me 40 years to figure out.
Buying a house, will reduce the cost of living in the long term. Your mortgage payments stay the same, while rent keeps going up.
There are better subs that can give advise on investing.
But I am of little faith and I buy gold so my savings dont fall victim to inflation.
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A home should not be an investment, you buy a home to live in, not as an investment. Lots of people who don’t know anything about investing will throw out real estate there because that’s the only thing they heard about. Don’t go into real estate unless you know what you’re doing.
The easiest and least complicated way is to invest in a broad index fund. Since you’re in the EU you can go with EU funds, or get access to US funds. If you want to know more about financial independence and retirement planning, check out /r/financialindependence. It’s mainly for americans but the concepts are the same. Find the posts and other subs specific to your country and situation.
Diversify. dont go all in on any one thing… buy land, stocks, crypto. there are a million stocks… do some reading on companies you like and buy things that seem like long term value… right now anything involving lithium, solar, battery production, microchips, all good ways to go… TSLA has done extremely well and is likely to continue, bitcoin and etherium are safe ish crypto.. but the higher the risk when investing the higher the reward (or loss).. just be smart… again, diversify.. you want a bit of everything. buying land, stocks, and crypto are the best choices Ive ever made… if i did it at your age I would likely be a millionaire. the trick is keep most of it in safer investments, and make a few long shots you are willing to lose… that way if you hit a homerun you will be richer than anyone you know (like buying TSLA at 30$ when it is now at 1000 or buying BTC when it was 10$ and is now 50,000…) .. and if you lose a few hundred bucks on it its fine because the safer bets should cover it in the long run… just remember if its sitting in a savings acct or shoebox it is *losing* value every day through inflation… USA is at 8.5% inflation through the year and most high interest accounts are 2-3% interest yearly, meaning you have lost at least a grand of buying power this year alone (and thats being really condlservative and assuming you get 5.5% interest on your savings acct lol, so its probably closer to 1800$ or so lost to inflation this year alone)
Honestly, best thing I ever did is learn how to cook. It saves so much money and it’s better than going out. I can feed a family of 8 for less than $10. Or you can go cancy and make better than restaurant food for a quarter of the price. I’ve never really been single buy my guy friends who I’ve taught how to cook tell me it works wonders on the ladies. My lady is raising 5 kids, we are both tired, crock pot rocks. Also I would rather cook an amazing meal for my family for maybe $30 than spend 100 on take out. Best part is anything you want to learn to cook there are thousands of videos on YouTube, I recommend the master Gordon Ramses.
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Learn to save
Education. Education is the best investment anyone can make.
Mutual funds that historically have performed at 10% or better.
You need a comprehensive plan, so get an FA. I would put that money in a diversified mutual fund and forget about it for 10 or 15 tears except to rebalance it annually if needed.
High yield savings accounts.
Roth IRA (or whatever equivalents you have over there if those don’t exist for you), stocks, land if you can swing it, your own business if you have a head for it or can partner with someone that does