How much does a financial advisor charge in NRW, Germany?
I am 24 yrs old, software engineer working in Germany. I was able to save major chunk of my earnings and i am interested in investing the savings. I am interested in Real estate along with certain ETF's index funds and normal shares. Although considering my bank account now, real estate is not possible.
I am looking for a financial advisor who can help me deducing a plan considering the interests. I recently came to know that some banks such as Deutsche bank also offers financial advice if one has an account with them although not sure how good their services are. Can anyone help me with the price and recommend me to some services ? Thank you.
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You can expect to pay in the range of 50 to 200 EUR an hour, depending on the advisors skill and academic background. I doubt that it should take a financial consultant more than one or two hours to give you proper ideas on how to invest in ETFs.
From my point of view, you should rather check financial blogs like Mr. Money Mustache or - if you speak German - something like zendepot. The most important advices taken from these sites is:
open a depot at OnVista, comdirect, ...
set up a savings plan, which takes x EUR every month and puts that in a global ETF like MSCI World with a low annual cost of ~0.5%
wait for the compound interest to kick in
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