Investing for 1st time - Denmark

[uafhengighed]

Hej everybody,

I love reading other posts; but unfortunately some of the information is not applicable here in Denmark

I have always been a big spender, until I made some big changes a few years ago, and with a huge effort I have now saved around 1M dkk.

Unfortunately I have never invested, mostly due to a mix of fear and ignorance.

Per my investigation I will have to use either Nordnet or Sparinvest.


As a novice I have a few questions:
- Both Nordnet and Sparinvest have so many investing options that is extremely hard to decide on one… What could be a good strategy for a newbie like me?
- Is there a financial advisor that anyone knows in CPH? I am willing to pay to get some face to face advise

Thank you very much for reading.


Ps: on another note, my job pays for my PFA pension, but I don’t get it… By 2060, the retiring age will be 74 in Denmark!!, which means that, any money I put in PFA, I won’t see it until I turn 74 (that is 2062!)… Why is so many people putting money there?

[jacob]

As a novice I have a few questions:
- Both Nordnet and Sparinvest have so many investing options that is extremely hard to decide on one… What could be a good strategy for a newbie like me?

This kind of question is answered a few times a day in FIRE Danmark.

[uafhengighed]

Thanks for your answer. I don’t have facebook, I have successfully managed to avoid it for years.

It looks tempting though! I will see if I create an account and post it there, thanks!

[just]

I think frinans.dk is a good place to start if you're new and want to do index investing. He recommends specific funds and investing platforms.

The guy behind it, Sune, is also the one who started the FIRE Danmark facebook group.

Ps: on another note, my job pays for my PFA pension, but I don’t get it… By 2060, the retiring age will be 74 in Denmark!!, which means that, any money I put in PFA, I won’t see it until I turn 74 (that is 2062!)… Why is so many people putting money there?

For most people some pension contribution is mandatory. Also, I guess it used to be lower, so historically it made more sense, since it's taxed less than a normal "stock account". I agree with your sentiment, though: Someone who plans to retire early shouldn't put too much of their capital in retirement funds. I think some is prudent however, if only to "hedge" against the tax/retirement legislation changes.