Start taking care of your investments. For the time being, there will be no interest worth mentioning on savings. Instead, there is a great danger that inflation will pick up and the central banks will tolerate higher rates to some extent. Along with real estate, equities are practically the only option for a return above the inflation rate. If you leave your money in the account, it will be worth less every year. Still, you don’t need to rush. Start with a small sum and gain experience.
Spread your investment wisely
Look for a broadly diversified portfolio that includes shares in companies from different industries and different countries. This is easiest with ETFs on world indices. Funds, crypto, and forex are also an option or you go to a digital wealth manager. You can also read aaafx broker reviews before investing.
It is best to invest regularly, for example via a savings plan. Don’t try to time the purchases. This usually doesn’t work.
Invest for the long term
Invest your money for the long term. There can always be price setbacks on the stock exchange. It would be stupid if you had to sell at a loss because you suddenly needed money. So first save yourself an emergency reserve and then start investing your money. But only take the money that you can do without for about ten years if necessary. Then you have enough time in the event of a stock market crash to wait until prices have recovered.
Always save more
Keep increasing your savings. You can easily start with small amounts. But try to increase the sum. Check whether you have unnecessary costs or can easily do without expenses. Also, see how you can increase your income so that you can invest more. Don’t make the mistake of increasing your expenses as your income increases.
See the stock market crash as an opportunity
Don’t be afraid of price drops. They belong to the stock market. If you’re broadly invested in quality stocks, you don’t have to worry too much. On the contrary, Crashes are a chance for you to collect stocks at bargain prices.