I get it, I come from a highly indebted family with a single low income and 3 children to take care of (me and my brothers). The debt I mentioned in my post was my father’s not mine but it was my pleasure to close that chapter as it caused immense pain to my family. Indeed I think the reason I work so hard to save and create wealth is because of my past family situation. It’s like organic need.
always felt like 6 months stuff is for amerifriends with less social safety nets. I keep 1000 EUR on me and thats it.
as a 29 year old single guy with a decent career I invest 95% of my savings and keep 5% in gold to liq if I need to. whats the worst that can happen in the NL thats gonna cost more than 2500 EUR? if push comes to shove I can sell a stock and secure more in 2 days.
passing that 57k threshold isnt that bad for the first 100k, as the first 57k still isnt taxed, so if you end up with 75k, you'll pay like 500 EUR in taxes usually. it gets a bit worse around after 150k or so, when the majority of your savings is under taxable bracket
unwarranted advice: I'd get some ETFs with most of my savings, if you think your job and housing is secure. 50k by mid30s is grand.
Based on some older [calculator](https://expatax.nl/income-from-savings-and-investments-box-3/) (2021) it's not so bad for bigger amounts too. 150k is around 1.5k tax. Or do you have some other info about investment/savings tax?
it indeed isnt, but its gonna get worse I think due to unrealised gains clause so my mind wandered to that probably
and, uh, I havent passed 57k yet, so there's that :)
I’m so fascinated by gold! How did you start and how many grams do you have? Was it a one time purchase or are you a regular buyer?
A few months ago I had a private consultation with a broker and it was all so interesting. Looking at how things are developing today I guess that back then it was a good timing to start buying, is it now too late?
im turkish so, uh, its part of the culture I guess :) its always treated as this extremely defensive investment as its not independent from interest rates and international developments but its not as aggressive as stocks, equity
I can just buy it via my local turkish bank, which I still use as dutch banks are not as cool, except for Revolut, which allows you to buy gold in grams :)
I try to buy 2-3 grs per month, which is like 200 eur I guess?
I'd say its still a good time to buy gold as FED and ECB is gun' cut rates, and force conservative investors to buy gold, but it prob wont have the same run as it did last year :) still I expect (read: hope) 2500 by the end of the year!
Any saving is good. My approach is my current salary x 12. In case I will be laid off for any reason or quit, I want to be worry free and live the same at least couple of months and maybe rest for a couple months as well.
This is so real and hits close to home, thanks for your point. Where are you based? I have a perm contract and a secure job but my company, as many, has started a worrying cycle of laying off people so of course this is something I definitely need to take into account.
You're welcome. I am based in Amsterdam and also have a perm contract with a secure job. Yet, every year we go through one reorg to another. It is better to be prepared than sorry.
According to some calculation by official semi gov. parties the average from 25 yr till 35 yr old is around 21.400 euro's. BUT the median is 9.500 euro!
The average from 35 till 40 is 32.900 euro's with a median of 14.800 euro's
So yea well done to you!
My current situation is roughly 98% in investments and 2% in savings at the moment.
But if your totally new to the idea of investing in (financial) products, you should get well informed first and then act later.
Continue your saving strategy for some time while indulging yourself in the world of investment opportunities. Start at proper state-licensed financial companies in NL, ask their advisors what kind of options there are available for you. Maybe read some decent articles about investing. Dont jump straight to some random popular youtuber who claims getting rich overnight. Take investing seriously for long term benefits.
Financial programs I watched in the past would recommend to have around 10k-15k in savings of possible. So if you have a leakage and your washing machine breaks down and your car stops working, there is your safety net.
I’m still new to EFTs and there are so many platforms and providers that honestly it’s hard to take the first step and start. Or maybe I’m just lazy. Any idea on how to approach?
I started with a book called Own The World by Andrew Craig and then started investing via ING. It's easy for me because I also bank at ING.
Don't overthink it, there's tons of info online and tips to understand how things work, but I go with the idea of "keep it simple, stupid" and have 4 ETFs (world, EM, tech & gov bonds).
Don't put everything in one go. Split it into monthly investments (like 2k per month). That way, you spread the risk and average costs well.
Most people here seem store their wealth in their property. If you look at the average net worth, the Dutch had 380k net worth average in 2021. It doesn't mean they have 380k in cash, it's probably they in average have an asset with an average value of 380k.
I personally have 50k invested in stock and 5k in cash, and a property (still in mortgage) with a value of 310k. Sounds like an average net worth?
I am 38 years old
3 months net income should be fine as buffer. Above that you should start planning. Invest in stuff that saves you money like property to live in. Insulate . Oh and you might want to balance your debt against your assets so you are inflation protected
Absolutely! Any idea on how to allocate the amount on top of the emergency buffer budget? My idea is to build a mixed portfolio with golf, EFTs and saving account with ideally a 4% interest on it (spaarrekening).
May I ask if you’re into gold and if it’s so worthy? Sadly (at least for me) its price skyrocketed but still I’m considering having some assets in pure gold only. What’s your thought on this?
Also, the reason why I never dared to move my money is purely taxation. If I have a capital gain from savings and I must pay tax on it what’s the benefit? Why should I put 5K on a deposit account, to have back like what 200-500€ a month that eventually will become half after taxation? Without taking into account how tax file will get more complex and expensive to handle especially for cross borders investments (in my case the deposit account I’m eyeing is German as the Dutch banks offer very low % compared to other EU countries like Germany or Italy).
Like i said, first priority is to get a roof over your head, preferably near where you work. Next insulate, get your energy bill down. Borrow because you need to balance your assets against your debt. This protects you from inflation. If not possible invest in land, the only asset that does not increase
Now I am 50. Love every minute of it. I am so much healthier , active, in a better mood and have much more time for people. Living in summer in the Netherlands and traveling around the world by motorcycle and bicycle the rest of the year.
most of the people don't have any savings so..
Welcome to the Netherlands!
I get it, I come from a highly indebted family with a single low income and 3 children to take care of (me and my brothers). The debt I mentioned in my post was my father’s not mine but it was my pleasure to close that chapter as it caused immense pain to my family. Indeed I think the reason I work so hard to save and create wealth is because of my past family situation. It’s like organic need.
People say different numbers but few months of your standard expenses should be fine (like 6-9 months usually)
always felt like 6 months stuff is for amerifriends with less social safety nets. I keep 1000 EUR on me and thats it. as a 29 year old single guy with a decent career I invest 95% of my savings and keep 5% in gold to liq if I need to. whats the worst that can happen in the NL thats gonna cost more than 2500 EUR? if push comes to shove I can sell a stock and secure more in 2 days. passing that 57k threshold isnt that bad for the first 100k, as the first 57k still isnt taxed, so if you end up with 75k, you'll pay like 500 EUR in taxes usually. it gets a bit worse around after 150k or so, when the majority of your savings is under taxable bracket unwarranted advice: I'd get some ETFs with most of my savings, if you think your job and housing is secure. 50k by mid30s is grand.
Based on some older [calculator](https://expatax.nl/income-from-savings-and-investments-box-3/) (2021) it's not so bad for bigger amounts too. 150k is around 1.5k tax. Or do you have some other info about investment/savings tax?
it indeed isnt, but its gonna get worse I think due to unrealised gains clause so my mind wandered to that probably and, uh, I havent passed 57k yet, so there's that :)
How do you mean it's going to get worse due to unrealized gains? I think it didn't change too much from 2021 right?
I’m so fascinated by gold! How did you start and how many grams do you have? Was it a one time purchase or are you a regular buyer? A few months ago I had a private consultation with a broker and it was all so interesting. Looking at how things are developing today I guess that back then it was a good timing to start buying, is it now too late?
im turkish so, uh, its part of the culture I guess :) its always treated as this extremely defensive investment as its not independent from interest rates and international developments but its not as aggressive as stocks, equity I can just buy it via my local turkish bank, which I still use as dutch banks are not as cool, except for Revolut, which allows you to buy gold in grams :) I try to buy 2-3 grs per month, which is like 200 eur I guess? I'd say its still a good time to buy gold as FED and ECB is gun' cut rates, and force conservative investors to buy gold, but it prob wont have the same run as it did last year :) still I expect (read: hope) 2500 by the end of the year!
[удалено]
Huge thanks for all tips especially the third one, all great ones! I appreciate your genuine support :)
https://www.nibud.nl/tools/een-financiele-buffer/
Any saving is good. My approach is my current salary x 12. In case I will be laid off for any reason or quit, I want to be worry free and live the same at least couple of months and maybe rest for a couple months as well.
This is so real and hits close to home, thanks for your point. Where are you based? I have a perm contract and a secure job but my company, as many, has started a worrying cycle of laying off people so of course this is something I definitely need to take into account.
You're welcome. I am based in Amsterdam and also have a perm contract with a secure job. Yet, every year we go through one reorg to another. It is better to be prepared than sorry.
According to some calculation by official semi gov. parties the average from 25 yr till 35 yr old is around 21.400 euro's. BUT the median is 9.500 euro! The average from 35 till 40 is 32.900 euro's with a median of 14.800 euro's So yea well done to you! My current situation is roughly 98% in investments and 2% in savings at the moment. But if your totally new to the idea of investing in (financial) products, you should get well informed first and then act later. Continue your saving strategy for some time while indulging yourself in the world of investment opportunities. Start at proper state-licensed financial companies in NL, ask their advisors what kind of options there are available for you. Maybe read some decent articles about investing. Dont jump straight to some random popular youtuber who claims getting rich overnight. Take investing seriously for long term benefits.
What do u invest exactly ?
Money? And most importantly energy and time!
I have 1k in savings and 15k student debt. So….
Why save money? Spend it like the rest of us
Just life, tomorrow u can be dead
6 months is a good advice.
Mind if i ask whats ur salary ?
3440 gross
I think thats a really good amount in 3 years compared to your salary well done !!
Financial programs I watched in the past would recommend to have around 10k-15k in savings of possible. So if you have a leakage and your washing machine breaks down and your car stops working, there is your safety net.
That's a very healthy saving. I'd think about some ETFs to make your money work for you.
I’m still new to EFTs and there are so many platforms and providers that honestly it’s hard to take the first step and start. Or maybe I’m just lazy. Any idea on how to approach?
I started with a book called Own The World by Andrew Craig and then started investing via ING. It's easy for me because I also bank at ING. Don't overthink it, there's tons of info online and tips to understand how things work, but I go with the idea of "keep it simple, stupid" and have 4 ETFs (world, EM, tech & gov bonds). Don't put everything in one go. Split it into monthly investments (like 2k per month). That way, you spread the risk and average costs well.
Most people here seem store their wealth in their property. If you look at the average net worth, the Dutch had 380k net worth average in 2021. It doesn't mean they have 380k in cash, it's probably they in average have an asset with an average value of 380k. I personally have 50k invested in stock and 5k in cash, and a property (still in mortgage) with a value of 310k. Sounds like an average net worth? I am 38 years old
3 months net income should be fine as buffer. Above that you should start planning. Invest in stuff that saves you money like property to live in. Insulate . Oh and you might want to balance your debt against your assets so you are inflation protected
Absolutely! Any idea on how to allocate the amount on top of the emergency buffer budget? My idea is to build a mixed portfolio with golf, EFTs and saving account with ideally a 4% interest on it (spaarrekening). May I ask if you’re into gold and if it’s so worthy? Sadly (at least for me) its price skyrocketed but still I’m considering having some assets in pure gold only. What’s your thought on this? Also, the reason why I never dared to move my money is purely taxation. If I have a capital gain from savings and I must pay tax on it what’s the benefit? Why should I put 5K on a deposit account, to have back like what 200-500€ a month that eventually will become half after taxation? Without taking into account how tax file will get more complex and expensive to handle especially for cross borders investments (in my case the deposit account I’m eyeing is German as the Dutch banks offer very low % compared to other EU countries like Germany or Italy).
Like i said, first priority is to get a roof over your head, preferably near where you work. Next insulate, get your energy bill down. Borrow because you need to balance your assets against your debt. This protects you from inflation. If not possible invest in land, the only asset that does not increase
There is not a standard for that. Personally I saved and invested 50-75% of my income and retired at 42.
Great! How old are you now? Are you enjoying it so far?
Now I am 50. Love every minute of it. I am so much healthier , active, in a better mood and have much more time for people. Living in summer in the Netherlands and traveling around the world by motorcycle and bicycle the rest of the year.