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Investments?
Where can I invest a relatively modest amount of money (EUR 15-30,000)? Now the money are just lying on my bank account - the interest rate is almost 0%; inflation is eating them. Because of my job, I can't invest in stocks but funds (i.e. managed by someone) would be ok. But are the funds worth it, given all the bank commission fees? Are there any other ways to go, e.g. through some investment apps? Or any other ideas for (long-term) investments?
Tough one. Any investment can go up or down. The higher the potential growth, the higher the risk. It’s all gambling. In general a managed fund is a good bet. But check past performance. See what your bank has on offer. What about investing in some kind of pension? Watch out for the scams, especially with apps. Spread the risk by splitting the 30k into three different things.
By far the best investment you could make right now is to make a small investment of money AND time. Buy a couple of simple book on investing, and then use the time to read and understand them. Even if it takes you 6 months to do that at least you'll have a slightly better understanding of what to expect. The absolute worst that can happen in that time is that your money is safe, but maybe worth a minuscule fraction less due to inflation.
Before you start, you need to decide three things:
1) What is your timescale; are you investing for a pension or investing for next year.
2) What is your tolerance for risk; How much of this money are you prepared to lose?
3) Do you fully understand the difference between investing and speculating.
By far the worst thing you could do right now is jump headfirst into an investment you don't understand, for the wrong reasons, because you were given totally inappropriate advice from people who know nothing about you or your financial circumstances.
Notwithstanding all of the above, if you have an existing pension scheme, in almost all circumstances, adding more to your existing pension scheme is the best investment you could make. BUT please take proper advice, or educate yourself first.
