What should I invest my money in?
Hello everyone, I hope you are well
I was on sick leave for almost a year and wasn't allowed to work, and I have so little money from my health insurance that I have to pay my living expenses and my apartment. I've also accumulated a lot of debt.
And since I'm all alone in Germany now, and I definitely haven't received much support, I'm slowly starting to work again, and I'm thinking about what I should invest my money in if I get sick again at some point, or if I need the money, I can just get it out.
I look forward to your tips
Thank you in advance
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If it is foreseeable that you need the money in the next 10-15 years, you should not invest it at all. On the stock exchange, your capital can also halve if you need it and sell your shares, you have made great losses.
I'd also inform you about disability insurance.
Thank you so much
yes, the question is, how much is the month can invest? Occupancy insurance would you recommend to me any.
What you can afford. But first meet points 1 and 2, then you can think of investing.
And again, if you invest, you have to assume that your money will be less for many years. You need a long breath.
Great, thank you several times
Best pay back debt and save a cushion. Don't think about investing before….
How can I pay my debt back if I want to earn 1400 a month and have to pay tax from it? What should I do best because I have to pay less taxes?
How do you want to invest if you can't even use your debt? How will you react to an emergency if you haven't packed aside?
As long as you have debt, you should first degrade it and not invest any money. Because you only invest money that you don't need in the long term, which is not true to you.
Instead, you should invest in education and inform yourself about how to invest money. Even if you had no debt, it would be a bad idea to ask others what to do with your own money. You need to know what you're doing and what you're investing in. Investing is always associated with risk. You can't just press a button and then you just have more money.
In principle, it is not wrong to have money available for this. But that bites to invest money with your project. Money that you can invest is usually not quick and easy to remove. Investments are always risky and now you're investing in something that falls price and now you come to the conclusion that you need the money now. Then you're stupid because you're forced to sell in loss.
What you want to do here is to build a kind of “emergence” but I wouldn't do that by investing the money. Go to the bank of your trust and put on a savings account or advise.
How much you can then save monthly at the end, you can only say, because we don't know your finances.
Investing only excess money
Okay and how much can you invest monthly?
The most important thing is that you regulate your debt as quickly as possible