Hello,
TL;DR: I live in Israel, got 3 bank accounts. One in Israel and 2 in Germany. Money in Germany is just sitting there (and frankly, so is the money in Israel). I haven't touched the German account in years and I fear it's losing value to inflation. Should I merge the accounts? How should I invest the money afterwards? (the latter could probably be answered by the "Got $X, what to do" FAQ)
So here's my situation:
I live in Israel. I have multiple bank accounts. One in Israel and 2 in Germany.
Israel: about $35K in savings and $25K invested in individual stocks.
Germany: about €30-40K in two different accounts, this money is just sitting there for years upon years. These accounts were opened decades ago and I think it's time I do something because they just lose value to inflation.
I don't live in Germany. I used to live there and my parents opened this savings account for me and over time money was deposited there by them and my grandparents etc. I now visit Germany for about 2 weeks a year for family visits.
I don't recall ever taking money out of that account. I don't even have a credit card for that German bank. There are two accounts and we move money from one to the other at a steady rate of €250/month since it's a savings account or something like that and that's the maximum amount I can pull, but it should dry out soon. It has like €7000 and the other one has the rest of the money. Honestly, I haven't gone much into details there. We're moving the money because the second one has a bit better APR.
I want to invest more money in relatively safe investments such as index funds or real estate (my parents want to buy a house in Germany and rent it out, they ask me if I want to own a percentage) but I'm open to other suggestions.
I graduated and just started my full time job recently. I'm 23 making about $150K/yr before taxes. $112K is base salary and the rest is in RSUs.
Expenses:
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Rent: $450 a month ($600 with utilities and taxes etc), living with a flatmate.
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Car: Don't own one. Assuming I'll own one soon it's going to be a beater, nothing fancy. Current contender is my parent's 10y/o car which costs like $8000. I know it runs great.
Submitted May 20, 2018 at 03:21AM by csthrow1902 https://ift.tt/2IT6Fe0
