Monthly investments for a more valuable savings routine!

Investing in Exchange-Traded Funds (ETFs) can be a wise choice for those looking to grow their wealth over the long term. Here's a breakdown of how much you could potentially accumulate with regular monthly investments at different interest rates.

After 10 years, at a 3% interest rate, you could amass approximately 69,901 €, and at an 8% interest rate, you would have around 90,686 €. If you were to continue for another 20 years, the numbers would significantly increase. At a 3% interest rate, you would have approximately 290,091 €, and at an 8% interest rate, you would have approximately 709,153 €. And if you were to invest for 34 years, you would have over one million euros at an 8% annual return. At a 3% return, you would need to save for 42 years to reach even half a million.

It's important to diversify your investments and keep an eye on the costs of your portfolio and bank accounts. Many people pay too much for insurance, utilities, and subscriptions, so it's worth shopping around for better deals.

If you want to pay into ETFs monthly, make sure you do so without or with very low fees. Many online brokers offer monthly deposits in a fixed, regular amount free of charge. Providers like Trade Republic, Scalable Capital, ING, DKB, Consorsbank, Comdirect, 1822direkt, and Flatex provide monthly investment plans in global ETFs. Trade Republic notably offers over 2,600 fee-free ETF savings plans and low minimum monthly investments starting at 1 euro.

Starting with a small monthly savings plan and gradually increasing the amount over the course of your career can be a sensible approach for entry-level professionals. Saving money monthly is often possible without much effort, and if you can save 1,000 € per month, you will greatly benefit from the compound interest effect. With an 8% return, you will have over half a million euros in less than 20 years - and in another 6 years, you will be a millionaire.

In bad times, the prices for ETFs may drop, but they can reasonably expect them to rise again, usually by more than they fell. If you're not dependent on a car, you can save on your budget. If you can manage your monthly expenses, you'll find your personal balance between security, future orientation, and enjoying life in the present.

Housing often causes the biggest costs in the budget, but only a few people can save here. If you're surprised by how much money you spend on hobbies, entertainment, eating out, clothing, and other consumption when analyzing your expenses, you can decide to limit your budget in this area.

As a secure investment option, you can choose a fixed-term ladder to get free capital every year. When it comes to savings accounts, you should focus on the interest rates and how frequently your money is compounded. If you open a fixed-term deposit account, you can't access your money until the term ends.

Those who start saving money in their youth have a better chance of building wealth. Diversifying your investments and keeping an eye on the costs of your portfolio and bank accounts is important. If you invest money at the stock exchange monthly, you should ensure a broad diversification of your investments.