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Hi All! Hoping I could get some unbiased financial check as I believe I’m behind. Took a job couple months ago for slightly less pay to get into FAANG gambling for an early promotion which is happening Q3 (so paid off) but feel like since my salary hasn’t progressed I’m way behind! In Euro €€€ (based in Europe) Note: (just moved to UK where they have an ISA, previously my home country’s cgt was extremely high!) - Age: 27 - Cash bal: €14,727 - Stock bal: €1,627 - Crypto bal: €5,548 Property (currently rented) - House value: €270,000 (slightly conservative) - Remaining mortgage (principal): €175,000 - Loan to Value: 64.81% Pension - Europe approx £27,000 - Uk approx £4,000 Thanks! #personalfinance #investments #fire
What matters is your savings vs expense ratio
Once interest rates change, it would be worth refinancing to pull out cash. Put that cash in a retirement account. You need retirement savings
Apologies, yes I have retirement too! A pension I just never think of it! Lol il update
Awesome!
TC?
€61k
Base. Stocks vested €30k won’t see them for 2/3 years
Im currently 29, here are my stats for you to compare. Been in Europe for 3 years, in Amsterdam, came from third world country with no savings so I did not have any head start had to borrow money from my dad to pay rent deposit. Currently I have - 90k Cash balance - 715K house (666k mortgage, 49k equity) - 20k stock market - Paid 25k for late stage startup equity (worth 35k currently) - 6k pension Comp progression: 1. 58k cash, 5k equity per year, 2k bonus, +&% 2. 86k cash, 10k equity, 15% bonus, +8% holiday 3. 97k cash, 15k equity, 15% bonus, + 8% holiday 4. 115kcash, 20k equity, 15% bonus, + 8% holiday 5. 130k cash, 25k equity, 15% bonus, +8% holiday allowance Current: 120k cash, 40k equity, 20% bonus, +8%, other cash benefits and better WLB I save crazy, still live a good life, spend money on food and travel and on gifts for my family. I invest in investments that I am comfortable with and have solid background/interest in investing. Repaid all loans. No debts other than mortgage. I feel like I’m behind btw. You can do this in 3 years - time, discipline & good financial sense is all that’s required. And remember, money is not everything. Good luck.
Excellent response, much appreciated!! Also congrats on all of the above, amazing! Really nice to see how considerate you are towards your family! Like myself I’ve a spectate pot of savings excluded from the above that I’m saving to look after my mother! Great cash balance, for me the bulk is in my equity of my house. Do you mind if I dm you about Amsterdam? I’m considering relocating at the EoY and Amsterdam was on my list of potential places!
Great to hear that you are saving to look after your mother. Please feel free to DM me for Amsterdam details!
First tip your decision isn't paid off till you actually get the promotion with paycheck in hand
And 2nd?