Good morning,
I’m a 38-year-old man living in Spain, and I’ve been thinking about this for a long time, but I just can’t make up my mind about starting to invest in index funds. I know that the longer I wait, the worse it is.
I’ve had a complicated life, and there are still a few loose ends I need to sort out that don’t allow me to have the level of freedom I’d like when it comes to accessing and enjoying my money.
Here’s a summary, and I’d really appreciate your feedback:
Gross salary: €25k (with the possibility of increasing to €27k, and up to €30–35k if I changed companies, but I currently have good working conditions and it’s not something I’m interested in changing).
Savings: €47k at 2.4%.
Investments: €3.5k in real estate and around €10k in crypto (I won’t touch it until “retirement”).
I don’t have many years of contributions toward my pension, so I would need more years than usual to receive 100% of it. Who knows how that situation will look in 30 years anyway.
I don’t expect to have a very long life, both due to genetics and a lifestyle with a lot of stress and pressure, at least for now.
I don’t have children and don’t plan to, at least for the moment—at most, maybe one.
I don’t have a mortgage and I don’t pay rent.
I save between 50% and 60% of my annual salary.
I haven’t received any inheritance from my parents yet, but I will likely receive some assets in the future.
I’ve looked into MyInvestor and Indexa, although I think the former suits me better. My idea would be to set up a €300/month automatic investment into the Vanguard Global Stock Index Fund EUR Acc, uninstall the app, and not check it for 30 years—until I retire or unless I face an extraordinary situation where I need to withdraw the money.
I would appreciate honesty and any help you can offer.
Best regards, and thank you very much. Great forum you have :D