I’m 23, Czech, student-status (so I pay zero on social safety, medical health insurance and taxes), so part-time learning and part-time working. My present one-time money I can use for an funding is 5k€, with one other 5k in reserve in case one thing goes sideways or to purchase one thing one-time (new cellphone, go overseas for a number of weeks in the course of the summer time and so on.)
My bills are 400€ (of which 60€ are going to mutual funds by way of Partners for a yr already, however primarily based on what I’ve learn right here it appears to be a slightly sub-par funding) and my earnings is 600€. I plan to extend the earnings going to the long run years although; I can simply earn over 1k€ if I made a decision to work full-time now.
Recently, I’ve been studying numerous MMM and J.D. Roth who each suggest index funds, but they’re each US primarily based and I’m not positive how doable and relevant is their technique for a central European man like me.
I’m a Czech nationwide, however I’ve an Icelandic checking account moreover my Czech one, if that adjustments something.
- Are there another good choices moreover index funds? How do you guys go about your FIRE?
- In case I determine to go for index funds, is it higher to make use of all the 5k€ directly, or unfold it over the course of some months? Which dealer do you favor?
I’m open to any/all ideas, both from your individual expertise and experience or from sources you utilize on your personal investments. Feel free to ask me extra questions if they’re wanted to higher consider my scenario. Thank you!