Brief Summary
This video serves as a comprehensive guide to managing money and building wealth in the Slovak context. It begins by addressing the common misconceptions promoted by online gurus and emphasizes the importance of understanding risks and setting realistic financial goals. The video covers budgeting, saving, insurance, and various investment options, including term deposits, mutual funds, real estate, gold, stocks, bonds, cryptocurrencies, and platforms like Crowdberry. It also discusses taxation of assets, how to avoid scams, and whether to prepay a mortgage.
- Budgeting and Saving: Creating a budget using the 40-30-20-10 rule, auditing expenses, and optimizing spending.
- Insurance: Understanding different types of insurance, reading contracts carefully, and asking questions.
- Investment Options: Exploring various investment options, including their risks and returns, and understanding the tax implications.
- Avoiding Scams: Being cautious of investment opportunities, verifying companies, and understanding the regulations.
Úvod
The video aims to provide guidance on managing money and building wealth in the Slovak context, countering the unrealistic promises often made by online gurus. It emphasizes the importance of understanding the risks associated with investments and setting achievable, long-term financial goals. The content is designed for individuals with limited investment knowledge, offering a practical overview of various financial management tools and options available in Slovakia. The video is created in collaboration with Port, an investment platform.
Prečo nevieme investovať?
Slovakia lags behind other European countries in terms of net financial assets, with Slovaks holding approximately €9,000 compared to higher amounts in Poland, Hungary, and the Czech Republic. However, Slovaks invest heavily in real estate, which accounts for about 80% of their assets. The low financial asset holdings are attributed to a lack of financial literacy and historical experiences, such as the non-bank scandals of the 1990s, which eroded trust in investments.
Ako zostaviť rozpočet a šetriť?
The video introduces the 40-30-20-10 rule for budgeting: 40% for normal consumption, 30% for loan repayments, 20% for savings and investments, and 10% for an emergency fund. It advises auditing the family budget over three to six months to identify spending patterns and unnecessary expenses. Tools like internet banking and apps such as Spendy and Revolut can help monitor consumption. Optimizing non-essential expenses, subscriptions, and planning purchases are key strategies for saving money.
Poistenia
Insurance is a complex topic, and the video emphasizes the importance of obtaining multiple offers, reading contracts carefully, and asking questions to understand the terms and exclusions. Capital and investment life insurance policies are discussed, highlighting their high fees and low returns. The video also touches on property insurance, advising viewers to update their policies to reflect current real estate values and to distinguish between property and home insurance.
Do čoho je možné investovať?
Investing aims to achieve a return, typically measured annually (per annum), with higher potential profits associated with higher risks. Various asset types include commodities, real estate, securities (stocks and bonds), and currencies (including cryptocurrencies). The video notes that each asset has different potential returns, risks, and is subject to different legislation, making investing complex. It also highlights the subjective nature of investing, as some people prefer investing through banks for added security, despite potentially higher costs.
Termínované vklady
Term deposits and savings accounts in banks are considered low-profit and low-risk assets, typically offering returns around 2%, which barely outpaces inflation. These are short-term and liquid investments, but the income is subject to a 19% income tax. Banks often cross-sell products, such as waiving account maintenance fees for customers who invest in mutual funds, but the fees associated with these funds may outweigh the benefits.
Podielové fondy
Mutual funds are a popular form of collective investment where a management company pools money from investors and invests it according to a pre-defined strategy. Investors purchase participation certificates, and the funds can invest in various assets like stocks, real estate, currencies, and bonds. However, mutual funds are not tax-efficient, as the income is subject to a 19% or 25% income tax upon exit. Additionally, management companies charge fees, which can reduce the overall return.
Reality/nehnuteľnosti
Direct investment in real estate is a popular option, but it is not a universal, risk-free asset. While returns can be high due to leverage (mortgages), it is not passive income, requiring management of remodeling, tenants, taxes, and repairs. Real estate is also not a liquid investment and carries geographical and political risks. The video cautions against the obsession with real estate in Slovakia, reminding viewers of the stories of people who have lost money on investment properties.
Zlato
Investing in gold is a conservative approach, with two main methods: purchasing physical gold and purchasing securities that represent ownership of gold. Physical gold can be bought as bullion or coins, with coins being more difficult to counterfeit. Gradual purchases are possible but may involve higher fees. Investment gold is exempt from VAT and offers anonymity compared to bank accounts. Gold-linked ETFs offer lower fees and high liquidity but lack anonymity.
Akcie/etf
Stocks are a type of security, and ETFs (Exchange Traded Funds) are a suitable tool for small investors. ETFs are similar to mutual funds but are traded on the stock exchange and passively managed, typically copying an index like the S&P 500. ETFs offer high liquidity and low fees, usually below 1% per year. A tax amendment in 2016 made ETFs more attractive in Slovakia by exempting income from these securities if held for at least a year. Robo-advisors, such as Finax and Portu, invest primarily in low-cost ETFs and charge around 1% per year.
Korporátne dlhopisy
Corporate bonds require more cash due to a set minimum purchase price and are often promoted as an alternative to savings accounts. However, they are not covered by deposit protection or the investment guarantee fund, making them riskier. The video warns against buying bonds from companies established for development projects, as construction issues can lead to problems. Caution is needed, as many of these companies are in the non-investment grade range.
Kryptomeny
Cryptocurrencies have become a popular investment option, with several ways to invest, including buying through exchanges, cryptocurrency ATMs, and fintech companies. Cryptocurrency exchanges are mostly unregulated, posing risks of collapse and loss of funds. Buying at ATMs offers anonymity but involves higher fees. Fintech companies offer a relatively safe method, but the sector is poorly regulated, and funds are not protected by deposit or investment protection funds. Profits from cryptocurrency trading are subject to income tax and health contributions.
Crowdberry
Crowdberry is a platform for investing in Slovak and Czech companies, either by purchasing a share or through a joint company loan. The platform offers interesting evaluations, but the investments carry higher risks and require higher initial investments, typically in the thousands of euros. Loans have a minimum limit of €2,000, and co-ownership requires €5,000.
Prehľad zdanenia aktív
Taxation significantly impacts the final yield of investments. The taxation of bonds is complicated, depending on the issuer's domicile, the type of debt security, and the method of generating income. Generally, a 19% income tax applies, with potential health contributions of 15%. For mutual funds, the rate is 19% on the difference between the current and purchase price. Income from shares and ETFs is subject to income tax and health insurance contributions but is exempt after a one-year holding period.
Ako dať pozor na podvody?
Fraud is common, including phishing emails and lucrative investment opportunities. The video advises caution with courses on trading currencies and cryptocurrencies, as they are often pyramid schemes. It warns against buying from companies that contact you directly and emphasizes the importance of verifying the company's credentials, checking for registration with the National Bank of Slovakia, and researching the people behind the company.
Oplatí sa predčasné splatenie hypotéky?
Whether to pay off a mortgage early is a subjective decision. Numerically, investing the money instead of making early repayments may be more profitable. The video presents scenarios comparing the returns from early mortgage repayments versus investing in the S&P 500 index, suggesting that investing may yield higher returns over time.
Zhrnutie
The video concludes by summarizing the key steps: conduct a budget audit, cut unnecessary expenses, audit insurance policies, and consider investing in a broad index that tracks global stocks. It recommends using platforms like Portu due to favorable tax and contribution legislation for stocks and ETFs. The video emphasizes the importance of considering one's personal situation and investment horizon, noting that investing in stocks can be risky if the money is needed within a year.
