Posted: Sun Mar 10, 2013 7:39 pm
Hey everyone,
i'm johngalt, a 26yo young man from Paris, France.
---CURRENT SITUATION---
Current asset : 102k€
- Monetary (bank accounts) : 63%
- Bonds (through mutual funds) : 13%
- Stocks (owned and through mutual funds) : 23%
- Other (gold) : 1%
Current salary after tax : 2k€ per month
Current spending : 650€ / 1,5k€ per month (see below)
Rent : 850€ (currently paid for by my parents - even though i've asked them many times to stop, they want to pay for my rent -they're quite rich. So i'm currently not spending this money, but i like counting it as being spent in my budget)
Transport : 50€
Electricity : 50€
Food/shopping : 300€
Fun : 50€
Holidays (1/12 of yearly spendings) : 150€
Other (gifts, etc.) : 50€
--- 2013 GOALS ---
Asset : Reach 150k€ (quite ambitious)
Asset allocation :
- Get monetary part to 35-40%
- Gets stocks to 25-30%
- Get bonds to 15-20%
- Get gold to 5-10%
- Get some real estate (through mutual funds) to about 5-10%
Spending :
- I must try reducing my food and shopping spending... damn Paris is an expensive city !
- I cannot act on the transport spending. I live in Paris, i already have the cheapest subway pass and no car.
- I won't be able to act on holidays and gifts (4 weddings this year, all out of town and 1 abroad).
- I don't know what will happen with my rent... i hope moving in with my gf by the end of the year, so i would finally get a rent to pay, but could be cheaper than 850€.
--- Other ---
I'll be changing job in the next two months, but i don't know yet if the salary will be much higher (fyi, 2k€ after all taxes is already quite a high salary... in france the median net salary is 1,5k€ and the net is 1,8k€ - after income tax)
--- FOR NON-FRENCH READERS ---
Some infos to help non-french readers (i.e. the vast majority) understand some details of my current asset allocation :
- Monetary refers to (1) "regulated" bank accounts which serve "regulated" (on a national level) interest rate at least at the level of inflation, entirely tax free. About 35k€ can be placed there. It's safe, very liquid, and saves your purchasing power. And (2), it also refers to other "regulated" bank accounts with low yield on the saving but that give rights to "preferred" very low interest rates for loans to buy an apartment. All in all, it's quite a good deal to have money there if you a plan a future investment for an apartment.
- My bonds and stocks are located in special "fiscal envelopes" that allow me to get my returns almost tax free (well, at least at a tax level much lower than the income tax).
i'm johngalt, a 26yo young man from Paris, France.
---CURRENT SITUATION---
Current asset : 102k€
- Monetary (bank accounts) : 63%
- Bonds (through mutual funds) : 13%
- Stocks (owned and through mutual funds) : 23%
- Other (gold) : 1%
Current salary after tax : 2k€ per month
Current spending : 650€ / 1,5k€ per month (see below)
Rent : 850€ (currently paid for by my parents - even though i've asked them many times to stop, they want to pay for my rent -they're quite rich. So i'm currently not spending this money, but i like counting it as being spent in my budget)
Transport : 50€
Electricity : 50€
Food/shopping : 300€
Fun : 50€
Holidays (1/12 of yearly spendings) : 150€
Other (gifts, etc.) : 50€
--- 2013 GOALS ---
Asset : Reach 150k€ (quite ambitious)
Asset allocation :
- Get monetary part to 35-40%
- Gets stocks to 25-30%
- Get bonds to 15-20%
- Get gold to 5-10%
- Get some real estate (through mutual funds) to about 5-10%
Spending :
- I must try reducing my food and shopping spending... damn Paris is an expensive city !
- I cannot act on the transport spending. I live in Paris, i already have the cheapest subway pass and no car.
- I won't be able to act on holidays and gifts (4 weddings this year, all out of town and 1 abroad).
- I don't know what will happen with my rent... i hope moving in with my gf by the end of the year, so i would finally get a rent to pay, but could be cheaper than 850€.
--- Other ---
I'll be changing job in the next two months, but i don't know yet if the salary will be much higher (fyi, 2k€ after all taxes is already quite a high salary... in france the median net salary is 1,5k€ and the net is 1,8k€ - after income tax)
--- FOR NON-FRENCH READERS ---
Some infos to help non-french readers (i.e. the vast majority) understand some details of my current asset allocation :
- Monetary refers to (1) "regulated" bank accounts which serve "regulated" (on a national level) interest rate at least at the level of inflation, entirely tax free. About 35k€ can be placed there. It's safe, very liquid, and saves your purchasing power. And (2), it also refers to other "regulated" bank accounts with low yield on the saving but that give rights to "preferred" very low interest rates for loans to buy an apartment. All in all, it's quite a good deal to have money there if you a plan a future investment for an apartment.
- My bonds and stocks are located in special "fiscal envelopes" that allow me to get my returns almost tax free (well, at least at a tax level much lower than the income tax).
