Ask HN: What would you do if you have 60k € to spend?

[diegoloop]

So I just turned 30 years old and I have 60k € on my bank account (basically those are my savings from the last 5 years), but I think it’s really stupid not to invest my money in something. So I’m hardly thinking to buy an apartment near to the company I work at (Erlangen, Germany); Actually I found a good but also really expensive (~3200€ per m2) one, which I have to decide if I want to take it at the end of next week.

So my question is, what would you do if you have the money, would you prefer to invest in something else? Take in mind that I don’t have nothing else just a “secure” job earning ~36000 € netto per year, I also don’t pay to much for rent, and the chance to build a family in the next 7 years it’s very likely.

Would you buy the apartment?

[brudgers]

My random advice from the internet: just keep saving the money. The apartment might appreciate in value, but it is by no means a slam-dunk investment. A slam-dunk investment would be picking it up for 1200€ per m2 and selling it on for 2200€ per m2 in a month or so.

Which probably highlights my theory of investment. Winding up with good returns is mostly a matter of dumb luck. The reason is because amateur individuals are up against professionals who spend all day and lots of money figuring out how to separate amateurs from whatever money they place at risk.

One of the ways the professionals accomplish separating amateurs from their money is via promoting the idea that investing is smart and saving is stupid and selling marginal investments.

Good luck.

[informatimago]

Don't hurry!

Take the time to think it out very carefully.

Evaluate the geostrategic situation.

What do you think the situation in the European Union will be in two, five, ten years, thirty years? Seriously?

Would you rather be living where you'd buy that house then?

Consider that it's rather highly probably that very soon the situation will be quite different. The Euro will probably not exist anymore (or it will just be the Mark under a new name). The European Union will either be mostly dismantled, or the situation for the citizen inside it will be very dire, both economically and sociologically.

I would definitely not want to own a lot of Euros nowadays. And I would definitely consider, for _SAFETY_ reasons, to be able to move fast and early, which means having NO immovable possession in the place I'm currently in (in Paris in my case, but that'd be the same on about most of the European Union Territory). On the other hand, I wouldn't invest on the financial market either (most currencies and bonds have a negative return, and share may crash at anytime the dollar or the euro crashes (they're basically playing chicken)). If you don't find something to invest into soon, then the only thing to store your wealth that seems safe and easily movable is gold.

You're still young. You could consider finding a safe place elsewhere in the world. It could be in Germany or in Europe, if you choose it carefully (but remember, almost all the Spanish territory was unsafe for 700 years). But it might be easier for long term to find such a place farther. If I was your age, I'd consider very seriously Russia, and their offer for free land in the far East. A good alternative would be Mars, if you can get selected for a flight there. I could also mention other plans (in which you invest this money and become ludicrously rich), but they're rather improbable.

[tobylane]

What's the thinking behind these predictions?

[Finnucane]

If buying is expensive and rent is cheap, and you have no need for long-term settling down, you might as well keep renting.

You're young and able to save, which means you can afford to take a little risk with your long-term investments (and don't take goldbug paranoia too seriously--or for that matter, any investment advice from anonymous strangers on the internet. That does not count as "due diligence"!). Diversification is usually called for--keep enough liquid cash to live on for a while if you lose your job, some "safe" investments, and some higher-risk investments.

[Lordarminius]

You are young and well ahead of the game.

The only good reason I can see for buying this apartment are 1. It can be easily sold when you need cash 2. It can be sold for substantially more than you paid for it. otherwise, you will lose money and its not a good deal. I have definite ideas for how I would grow a nest egg but they are peculiar to me and my situation. You need to find your own way. As signposts along the way: 1.Save more with a target of E100,000 2.While saving start studying investments in general 3.Invest in properties if they meet the above listed conditions

[wsc981]

I would sell everything in Holland and move to Thailand. I would by a nice serviced condo in the Jomtien area for about 25.000 EUR. The remainder I would use to live here for at least 2 year and work on my own ideas (apps). If I would make money with these apps, would continue, otherwise would maybe freelance or do remote work on the side, save some money before working again on my own ideas.

I think a 25.000 EUR appartement in Pattaya should still be easy to rent out in the high season.