So basically i know shit about investments, i have almost all my savings in a couple of savings accounts that yield 5-6% interest per annum, this is in my local currency CZK. I have around 10k euros which the bank offers me only 2,2% interest which is a joke, i recently opened an account on Interactive Brokers, whats the smartest way to invest that 10k that is similar to a saving s account? (low risk, higher than 6% growth per annum) Be gentle please Europeans are not born capitalists #personalfinance #investments . TC: 60k
You need six months emergency fund whether you live in Frankfurt, North Korea, or North Carolina. Don’t invest your emergency fund into stocks. After that is safe and you have your next 10k, if you don’t know, then get an advisor or study to learn how to do it. A personal finance course and then review of a personal finance magazine will help here. Don’t take online advice (from places like Blind) unless you have a high risk tolerance.
Nvda 👍
For someone starting out, especially if you prefer low risk, I recommend keeping it simple. Maintain six months' worth of expenses in a savings account or savings bonds, and invest the remaining amount in a broad market ETF. You should be able to buy VT, VOO, or VOO with ibkr.
How high is your personal risk tolerance
lets say “low” 2/10
Don't you Europeans have the best safety net in the world?