Good evening r / eupersonalfinance,
I’m a 28 12 months outdated EU citizen who began working (and due to this fact solely actual cash) about 5 years in the past.
I’m very removed from an professional investor. I’ve some fundamental data about compound curiosity, rates of interest, taxes and costs and inflation, however not rather more. I’m low danger, I are likely to belief governments greater than banks or personal entities with my cash.
Thus far, I’ve saved round € 1000- € 1200 every month and began with slightly little bit of capital, so in complete I’ve some € 80ok "invested". I principally simply purchased treasury payments / authorities bonds from my nation, and that's principally it.
The issue right here is that they "expire" after 7 years (and pay one thing symbolic like 2% gross curiosity after fifth 12 months), so I don't actually do a lot right here, most likely even not by beating actual inflation. On the "expiration" date, the cash comes again to my account and I’ve to begin over from nearly zero% curiosity the primary 12 months.
Is there one thing that enables me to place cash in an account and depart it there eternally (no "expiration" date), in order that I don't lose credentials compound curiosity?
What’s this sort of product known as?
The place can I get extra info?
My nation had one thing like this about fifteen years in the past, however this feature appears to have disappeared. Extra "perpetual" cash.
I’m not from finance, for the second I don’t even know the time period for which I ought to Google.