Personal finance advice / ideas needed

[Klaudia]

I know this forum has some bright minds here, so I thought I would ask here.

I realized I have not been very good with my own finances. All my money is simply being kept in banks, which I am sure everyone agrees, is not the smartest idea. Sadly I did not have bright parents to enlighten me on how to manage  finances, so I simply went along through life, lived bellow my means and tried to save some.

Now I realized I want to change it. I don't want cash just sitting there in the bank, when I am sure there are better things to convert it to.

So far I have come up with a very narrow list only:

- Buy property to rent? (management overhead, not sure I want to get involved in the renting business I don't really understand that well)
- Saving accounts  (expecting more than 2 % of interest these days is stretching it..)
- bitcoins: already bought more than I am comfortable with (invested 8 % of my all savings)
- stock market ? Maybe, but I was looking and looking even into the "blue chip" companies and to really say that "yes, this is better than simply holding cash", is kinda hard, seeing them underperform etc.

How would you convert theoretical 100 000 euros to feel more secure about your financial future ?




 

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[makebitcoin]

There are a lot of things you need to consider. Take your time before you make any decisions.
I can recommend this link: http://www.reddit.com/r/investing/wiki/faq

[cesmak]

Regarding your first point and third point probably you can join this two things, There is a Property fund listed on havelock that can do for you (I'm in and i trust it) but it's better if you do some research too to find if it's ok for you.


This is the trading platform where you can buy

https://www.havelockinvestments.com/

This is the official topic who talk about that fund...

https://bitcointalk.org/index.php?topic=215230.0

Search, read, learn and se if it's something you are interested to get involved...

Cheers

[superresistant]

It is only my personal experience so use it with caution.

To put it simple, the more I know about Cryptocurrency, the more I'm convinced that it is the best investment possible.

All investments have a reward/risk ratio but most investments you can do in your life are rigged or taxed to advantage a little elite.

In Cryptocurrency no authorities, wealthy elite or politics can get on your way.

Yes politics can blame Bitcoin but they cannot seize it.

To finish, the reward is just astonishing. It is not exceptional to multiply your investment by 10 folds once you have some knowledge.

[gts476]

Silver.

[circusmidget11]

Other things that you have to keep in mind is timing.  For instance, I went into the real estate rental and stocks with limited funds after the big crashes when everyone was running away and now I have more than doubled my money.  But with any investment, you have to do your research and make sure the company is a solid bet to minimize your risk so 'nuff said, do your homework.

[jbrnt]

Judging from your Post, I assume you don't know much about investing, so stocks could be difficult for you. I would look into funds. Depending on how old you are, you can select funds with different risks. High risk high volatility funds for younger and safer low volatility funds for soon to retire seniors.

Bitcoin is a good investment. I think it will do great, but still, don't put too much into it. It is a high risk investment compared to funds and property.

[CurbsideProphet]

The first thing you should do is figure out what your monthly expenses cost, then keep at minimum, six months worth in something highly liquid (like your savings account).  Since you seem to have a good amount of cash, you might want to bump it up to a year.

Next, how old are you?  Do you have anything saved up for retirement?  Look there if not.

After that, diversify.  You said you're already comfortable with your Bitcoin holding so I think you're on the right track looking at property, stocks, etc.

[Satan666]

I know this forum has some bright minds here, so I thought I would ask here.

I realized I have not been very good with my own finances. All my money is simply being kept in banks, which I am sure everyone agrees, is not the smartest idea. Sadly I did not have bright parents to enlighten me on how to manage  finances, so I simply went along through life, lived bellow my means and tried to save some.

Now I realized I want to change it. I don't want cash just sitting there in the bank, when I am sure there are better things to convert it to.

So far I have come up with a very narrow list only:

- Buy property to rent? (management overhead, not sure I want to get involved in the renting business I don't really understand that well)
- Saving accounts  (expecting more than 2 % of interest these days is stretching it..)
- bitcoins: already bought more than I am comfortable with (invested 8 % of my all savings)
- stock market ? Maybe, but I was looking and looking even into the "blue chip" companies and to really say that "yes, this is better than simply holding cash", is kinda hard, seeing them underperform etc.

How would you convert theoretical 100 000 euros to feel more secure about your financial future ?

You should transfer your remaining fiat to one of the banks in Cyprus.  They provide great financial advice and customer service.  They'll take good care of your money and will be happy to assist you.

[Ron~Popeil]

I know this forum has some bright minds here, so I thought I would ask here.

I realized I have not been very good with my own finances. All my money is simply being kept in banks, which I am sure everyone agrees, is not the smartest idea. Sadly I did not have bright parents to enlighten me on how to manage  finances, so I simply went along through life, lived bellow my means and tried to save some.

Now I realized I want to change it. I don't want cash just sitting there in the bank, when I am sure there are better things to convert it to.

So far I have come up with a very narrow list only:

- Buy property to rent? (management overhead, not sure I want to get involved in the renting business I don't really understand that well)
- Saving accounts  (expecting more than 2 % of interest these days is stretching it..)
- bitcoins: already bought more than I am comfortable with (invested 8 % of my all savings)
- stock market ? Maybe, but I was looking and looking even into the "blue chip" companies and to really say that "yes, this is better than simply holding cash", is kinda hard, seeing them underperform etc.

How would you convert theoretical 100 000 euros to feel more secure about your financial future ?

You should transfer your remaining fiat to one of the banks in Cyprus.  They provide great financial advice and customer service.  They'll take good care of your money and will be happy to assist you.

You really are the devil. You owe me that night with Selma Hayek or I need my soul back with interest.

[Satan666]

You really are the devil. You owe me that night with Selma Hayek or I need my soul back with interest.

I'll even make it two nights with Salma Hayek, but you're never getting your soul back, it'll always be mine!

[ranlo]

I know this forum has some bright minds here, so I thought I would ask here.

I realized I have not been very good with my own finances. All my money is simply being kept in banks, which I am sure everyone agrees, is not the smartest idea. Sadly I did not have bright parents to enlighten me on how to manage  finances, so I simply went along through life, lived bellow my means and tried to save some.

Now I realized I want to change it. I don't want cash just sitting there in the bank, when I am sure there are better things to convert it to.

So far I have come up with a very narrow list only:

- Buy property to rent? (management overhead, not sure I want to get involved in the renting business I don't really understand that well)
- Saving accounts  (expecting more than 2 % of interest these days is stretching it..)
- bitcoins: already bought more than I am comfortable with (invested 8 % of my all savings)
- stock market ? Maybe, but I was looking and looking even into the "blue chip" companies and to really say that "yes, this is better than simply holding cash", is kinda hard, seeing them underperform etc.

How would you convert theoretical 100 000 euros to feel more secure about your financial future ?




 

If you want awesome advice, hit up Fatwallet. Most of us around here are going to be more towards cryptos. FatWallet (the finances section) has a ton of great advice on how to handle investments and such. And a lot of people there can even help with real estate (which is what ends up being the most common investment).

[Swordsoffreedom]

Well the bank is fine until it messes with you
It really depends what country your in and what bank you use
Anyways congrats at least you now have money to invest and that is a step in the right direction making it earn money for you
Regarding rental properties some people do that for a living see (rentalstarter) But the normal person would probably just buy a duplex or triple and rent one or two parts of it to subsidizes their own house.
Saving accounts while safe do not have a yield worth betting on if anything if your banks are making record profits its better to join them and receive the dividend plus the shares than having it sit in the savings account
(Can't beat them join them lol)
Bitcoins at 8% is a fairly good amount assuming you have quite a few so its good for diversifying
As for the stock market well there are also bonds which are a far larger market than the stock market so might be worth looking at

So onto your question regarding 100,000 Euros and how to spend them
- Find a few good companies that pay a solid dividend to supplement income
- Put a percentage into riskier plays
- Get some commodities and shares
- Read a few financial magazines to see strategies
- I guess since you have Bitcoin consider Litecoin as well

Your strategy seems fairly safe so not a bad strategy already would increase the Bitcoin holdings to around 15% then sell off the difference if you have the patience to cover your initial investment about it.

[efreeti]

If you own a commercial property that is paid off, you are already set for life.

100k Euro isn't much this day, but investing it in under valued commercial property can partly secure what you have.

[CLains]

Spread a little bit to everywhere proportional to your feelings about it, so long as you can keep track of it all. Do not be emotional or lazy, just do what you think is best.

Good advice is simple but harder than it sounds!

[Omikifuse]

I know this forum has some bright minds here, so I thought I would ask here.

I realized I have not been very good with my own finances. All my money is simply being kept in banks, which I am sure everyone agrees, is not the smartest idea. Sadly I did not have bright parents to enlighten me on how to manage  finances, so I simply went along through life, lived bellow my means and tried to save some.

Now I realized I want to change it. I don't want cash just sitting there in the bank, when I am sure there are better things to convert it to.

So far I have come up with a very narrow list only:

- Buy property to rent? (management overhead, not sure I want to get involved in the renting business I don't really understand that well)
- Saving accounts  (expecting more than 2 % of interest these days is stretching it..)
- bitcoins: already bought more than I am comfortable with (invested 8 % of my all savings)
- stock market ? Maybe, but I was looking and looking even into the "blue chip" companies and to really say that "yes, this is better than simply holding cash", is kinda hard, seeing them underperform etc.

How would you convert theoretical 100 000 euros to feel more secure about your financial future ?

 

Seriously, investing and making money is overrated sometimes, a lot people invest into something they don't know and got a negative returns. So my advice to you is to invest what u know and don't invest all until you know what you are doing

[Philly]

I would go into real estate for sure. I'm still a student so my options to invest in are somewhat limited at the moment, and find crypto currencies the next best choice. Read up on the real estate basics and set a path from there. Like some already pointed out: do research and plan, be meticulous.

Do not rush into anything, you have time I presume so take that to your advantage.

[onlyu]

Real estate speculation was a game of the past.

Tycoon around the world are selling. Buying now implies you are betting against them.


You should invest in production of basic necessity such as food, cloth production. Something that we need everyday.

 

[indiguy]

how about forex?
It sure need skills but seem easy to learn now that video tutorials on youtube are available.

[twiifm]

how about forex?
It sure need skills but seem easy to learn now that video tutorials on youtube are available.

Forex is extremely difficult to trade.  I wouldn't advise it