Hi everyone,
I am a 25 years old single man that started working 9 months ago. I am working at an IT consulting job (mostly outsourcing). My background is studies in industrial engineering and a master's in management of innovation.
Right now, the most I know about finances is what I learned in the degrees, but I would like to learn more, since I believe I lack training in topics about investing. Some investment managers have told me about good reads from Peter Lynch or Benjamin Graham, but I am open to suggestions about other ways to learn.
Like other people from this forum, I am not into buying status items. And I am trying to find ways to optimize my spending. Right now I have a short time favorable situation that is the fact that I don't have to pay for food or housing (still live with family), but I think it won't last long.
Currently I don't have much savings, just around 12k€ in cash, which is not invested nor placed under any savings account. My idea is to not start investing or placing money into savings products until I reach 14k€, wich I believe will be in around 3 months. I do separate my savings into 3 categories: emergency (this is for the possible case I lost my job or if I get an illness that has a costly treatment that the government doesn't pay), spending (this is for things like renting a flat, buying food, paying bills, etc.) and investing (the name says it). Any suggestions to improve are welcomed.
About income, I just have one source which is a bit low (net: around 15 k€/year). I would like to diversify the income sources as I believe it could help in reducing risk, but I still don't know how to do it properly. I have a possible option creating a startup from a project that I am doing with a friend from my high school years (in which we won a small prize for the business plan that I did); but I know that this can also be a risky thing and I have to be really careful with it.
I would love to retire before 40, but I think that before 50 would be a more realistic thing. I don't plan to have kids, but I will probably have a partner in the midterm future, and this could change a bit the picture, so I probably should have different "simulations" of possible scenarios. Again, suggestions are welcomed.
I have joined the forum in search of a community of people to talk about early retirement, as I believe that spending time with a network of people with similar interests or that did something similar can make it easy to reach goals.
I am a 25 years old single man that started working 9 months ago. I am working at an IT consulting job (mostly outsourcing). My background is studies in industrial engineering and a master's in management of innovation.
Right now, the most I know about finances is what I learned in the degrees, but I would like to learn more, since I believe I lack training in topics about investing. Some investment managers have told me about good reads from Peter Lynch or Benjamin Graham, but I am open to suggestions about other ways to learn.
Like other people from this forum, I am not into buying status items. And I am trying to find ways to optimize my spending. Right now I have a short time favorable situation that is the fact that I don't have to pay for food or housing (still live with family), but I think it won't last long.
Currently I don't have much savings, just around 12k€ in cash, which is not invested nor placed under any savings account. My idea is to not start investing or placing money into savings products until I reach 14k€, wich I believe will be in around 3 months. I do separate my savings into 3 categories: emergency (this is for the possible case I lost my job or if I get an illness that has a costly treatment that the government doesn't pay), spending (this is for things like renting a flat, buying food, paying bills, etc.) and investing (the name says it). Any suggestions to improve are welcomed.
About income, I just have one source which is a bit low (net: around 15 k€/year). I would like to diversify the income sources as I believe it could help in reducing risk, but I still don't know how to do it properly. I have a possible option creating a startup from a project that I am doing with a friend from my high school years (in which we won a small prize for the business plan that I did); but I know that this can also be a risky thing and I have to be really careful with it.
I would love to retire before 40, but I think that before 50 would be a more realistic thing. I don't plan to have kids, but I will probably have a partner in the midterm future, and this could change a bit the picture, so I probably should have different "simulations" of possible scenarios. Again, suggestions are welcomed.
I have joined the forum in search of a community of people to talk about early retirement, as I believe that spending time with a network of people with similar interests or that did something similar can make it easy to reach goals.