Unfortunately, the Finanztip team is not reading this. Many people believe this, but it is not the case. Try sending an email if you want to reach the editorial team! But I’ll tell you right away: They won’t be able to tell you anything else because the necessary numbers are simply missing.
I bought my first property 7 years ago and have a mortgage. I am very happy with the purchase and also very satisfied with my bank’s conditions.
In addition to paying off my property loan, I also regularly pay into my ETFs. As you recommend, the savings rate on the ETF should be 20% of your income. I try, but I may not succeed every month.
Financial planning is always individual and holistic. You are currently trying to shoulder two things at the same time: servicing the mortgage and even saving extra. This can work, it can almost work (as it did for you), it can go wrong. Many people are happy if they shoulder a burden (that would mean servicing the mortgage).
My question to you now, since I’m already investing in a property, wouldn’t that also count towards the 20% monthly investment?
You would have to take a closer look at the matter if you really wanted to say something substantive about it; there is no recipe for it.
How is the savings pot divided into fixed deposits, ETFs, stocks, etc. if a property is currently being paid off?
Individually
It would be dubious if someone told you something about this without really knowing the situation. All you’re saying is that you have good mortgage terms, can service the mortgage well, and can even save a little more. I find that pretty strong. For example, it shows that you haven’t overextended yourself with your property and that it is small enough for your financial possibilities. An interesting question is how long you financed it for. The mortgage will probably end before it is fully paid off. You then have to extend it (which is usual). But then new conditions may come into play. Maybe you can then use your ETF portfolio to repay it. There are many options.
Is any fine-tuning possible and/or useful? Nobody can or should really say anything about that.
If you really want an answer, there is no way around giving numbers.
2024-04-09 21:31:49
#ETF #savings #mortgage #Finanztip #Forum
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