Happy to find this place and other people with DIY mentality, thanks to MP for setting up this nice forum as well.
I am a software engineer, 40+ years old, with wife and kid, born in Switzerland and live here as well. I heard Interviews mit Pete Adeney (MMM) and was hooked on the idea of early retirement (or the idea, that work is better - if you don’t have to do it for the money.)
I was never really interested in finance and investing, but my mind changed totally since heard about MMM beginning of this year and i really want to manage our financial situation now. My only experience in investing is in Cryptocurrencies so far (Cryptocurrencies) and i need to find other investment opportunities, that are simple and risk/profit ratio is ok.
I have a lot of investing questions, but i guess it is interesting to know something about our background and where we want to go.
- My wife loves her job and wants to continue working partime in the future
- Goal is to get to 1million, that should then generate 40k/y in the future, so one part-time job is enough to sustain our family
- We have no car, we rent an fairpriced appartment, i ride a bycycle to work and we work both part-time
- For the sake of simplicity let’s assume the following numbers for our financial situation
— Assumed total net worth 500k
— 20% in 3rd pillar
— 20% in Crypto
— 60% on Sparkonto
- What are your suggestions for such a situation to get to a million?
- I need investment advice mainly to reduce the sparkonto and relocate cryptos and i am trying to find the right ETF’s (passive and automated reinvesting). What kind of ETF’s do you recommend and where to you manage them?
- It seems that ETF’s are high right now (profitable i mean), is it wise to buy them know? Or when is and when not to buy ETF’s?
It is suprisingly a lot of work to make an actionable investment plan and i always wonder why. So many people have the exact same problem and there seems to be no blueprint as a solution, i guess i am new to this and i would appreciate any help in this area.
Hope to get to know you better and wish everybody a nice week
PS: I am glad this forum offers some sort of privacy. It seems not every post is open to public - am i right? (And is there a way to know which are going public and which not?)