Hello from a reborn Dane :-D
Posted: Mon Jun 19, 2017 9:14 am
Hi everyone! New arrival here and just wanted to say hello
How I got here: learned about MMM through Tim Ferris’ podcast episode. Then about ERE as Jakob’s name came up when reading more about the subject. I’m 28 years old, Copenhagen based, and dreaming about FI before I turn 40. Only started getting more hardcore a couple of months ago, but I’m really excited about the journey.
On this forum, I’m particularly interested in learning more about the Danish perspective on the journey towards FI. Many aspects in the MMM world seems focused on the American context for many sound reasons. As an example, I sympathize with MMM’s focus on bicycles, but being Copenhagen-based I’m already there, right? Secondly, the Danish tax system is very different from the American equivalent. As an example, we Danes have big incentives to focus savings on pension and real estate (personal home) rather than stashing up equity and bonds (frie midler).
I live with my girlfriend at an exceptionally low rent, so I don’t feel a strong incentive to take on an even more expensive mortgage setup in the short run. Especially not as the CPH housing prices are at an all time high and a correction seems inevitable at one point. Seems sounder to find a less expensive place outside Copenhagen and fix it up over time when we are ready for that move. What’s your thoughts on the market right now?
So my stashing-up strategy right now is fairly simple: max out the tax deductible pension (ratepension). 2) Save as much as possible (and place in various value stocks) to build up for future home purchase and thus avoiding any expensive bank financing (the 80% you can mortgage finance in Denmark is exceedingly inexpensive these years).
Right now I’m investing about 75% of my after tax income, which I’m pretty pumped up about. Hopefully I can keep up the level over time.
Thoughts or comments are more than welcome. Looking forward to becoming wiser through this forum
Best regards!
How I got here: learned about MMM through Tim Ferris’ podcast episode. Then about ERE as Jakob’s name came up when reading more about the subject. I’m 28 years old, Copenhagen based, and dreaming about FI before I turn 40. Only started getting more hardcore a couple of months ago, but I’m really excited about the journey.
On this forum, I’m particularly interested in learning more about the Danish perspective on the journey towards FI. Many aspects in the MMM world seems focused on the American context for many sound reasons. As an example, I sympathize with MMM’s focus on bicycles, but being Copenhagen-based I’m already there, right? Secondly, the Danish tax system is very different from the American equivalent. As an example, we Danes have big incentives to focus savings on pension and real estate (personal home) rather than stashing up equity and bonds (frie midler).
I live with my girlfriend at an exceptionally low rent, so I don’t feel a strong incentive to take on an even more expensive mortgage setup in the short run. Especially not as the CPH housing prices are at an all time high and a correction seems inevitable at one point. Seems sounder to find a less expensive place outside Copenhagen and fix it up over time when we are ready for that move. What’s your thoughts on the market right now?
So my stashing-up strategy right now is fairly simple: max out the tax deductible pension (ratepension). 2) Save as much as possible (and place in various value stocks) to build up for future home purchase and thus avoiding any expensive bank financing (the 80% you can mortgage finance in Denmark is exceedingly inexpensive these years).
Right now I’m investing about 75% of my after tax income, which I’m pretty pumped up about. Hopefully I can keep up the level over time.
Thoughts or comments are more than welcome. Looking forward to becoming wiser through this forum
Best regards!