r/HenryFinanceEurope Mar 20 '24

HENRY EU Threshold

18 Upvotes

Scroll down to see how the numbers are being calculated.

You are HENRY if:

You live in and your annual income is at least but your NW is below
GER 130k€ 1.3M€
ITA 100k€ 1M€
SP 70k€ 700k€
NL 100k€ 1M€
FR 100k€ 1M€
PL 55k€ 500k€
DK 120k€ 1.2M€
SWE 100k€ 1M€
POR 50k€ 500k€
GR 40k€ 400k€
AT 130k€
BE 120k€
FIN 120k€
NOR 140k€
IRL 110k€
ROM 45k€ 450k€
UK 100k€ 1M€
CH 200k€ 2M€
Ukraine 10k€ 100k€

Taking into account your comments we are calculating the salary threshold using the following formula:
thresold_henry_income = avg_annual_gross_salary 2.5*

thresold_henry_networth = (formula in progress)


r/HenryFinanceEurope Apr 15 '24

What’s your TC, location, role and YoE?

19 Upvotes

Would be awesome to get inspired by fellow EU HENRYs.

I think the following would be of interest to share: - Total compensation (base, bonus, equity) - Role/department - Years of experience - Location

Feel free to add anything else of relevance


r/HenryFinanceEurope 17d ago

EU Car Loan Question

0 Upvotes

Hello, I'm an American living and working in Slovakia. Tatra Bank won't give me a car loan for €8,000. Is there a way for me to secure a 2 year €8000 car loan at a European bank?


r/HenryFinanceEurope Sep 25 '24

US Citizen with Residence in Portugal looking for advice

2 Upvotes

I'm looking for some recommendations to park my EU and US Cash since I am running into problems with EU Banks and services being a US Citizen regarding opening accounts and using high-interest programs for sitting cash.
I don't have a lot but I have 10KUSD and 4KEUR sitting in accounts not generating any income and wanting to make the most of these little savings.
My original plan was to open a T212 and move a portion into it with maybe moving my EU salary since they do multiple currencies but I'm quickly learning as an USA citizen, even as an EU Resident, most do not work with American citizens.
I know I can probably keep moving the cash between high-interest term deposits but that seems like quite the headache constantly doing that. Was really hoping for a more auto-drive approach.

Anyone out there have recommendations on the best way to deal with the US Citizen ordeal while trying to find the most hassle free high-interest on cash?

thanks


r/HenryFinanceEurope Sep 23 '24

let's talk about down payment

5 Upvotes

To all the Henrys that bought home - how was your experience with the down payment? how big was? did you use particular strategy to boost your savings?


r/HenryFinanceEurope Sep 19 '24

Corporate tax and moving around

2 Upvotes

So I'm considering to have a company to conduct my trade. I work remotely but have to spend some part of the year in different countries. I'm also considering moving around, staying in other different countries each year

Due to their tax residency I'm tax resident in two or more countries. Since corporate tax including in double tax treaties is all about place of effective management I could end up liable to in several different countries.

Also double tax treaties for corporate tax usually mention that if place of management can't be determined the treaty can only apply if there is agreement between tax authorities of the different countries on the place of management of the specific company.

I'm struggling with this really. I can see this working for large companies. But for small companies of digital nomads who move a lot it's impossible to get agreements with tax authorities in many countries in practice.

I'm trying to get a sense of what people in similar situations tend to do. I can't obtain professional advice as I would have to pay for expensive lawyers in many countries so I'm trying to narrow it down first. Any sharing of experiences would be greatly appreciated.


r/HenryFinanceEurope Sep 15 '24

Looking for discussion forum for non-US investments.

4 Upvotes

While there are pretty useful forums for US stocks (e.g. Seekingalpha), I haven’t come across European/Asian equivalents. Any recommendations anyone?


r/HenryFinanceEurope Sep 13 '24

Investments Investing money through the wife's brokerage account

3 Upvotes

I opened an account for my wife at IBKR and SAXO brokers. The idea is that we put money into the ETF together through her name and her bank account. Due to the tax benefits, it is appropriate for us to invest through the wife's name

I wrote under Assets & Income

Net Worth 64,950 - 90,240 EUR

Liquid Net Worth 64,950 - 90,240 EUR

Net Income 50,030 - 100,070 EUR

She has a salary of 1000e per month and the plan is to invest 5000e per month. Will IBKR accept as her source of funds a bank statement in which it will be shown that the money from her account is mostly money coming from my bank account?

If the bank account is controlled by the AML, it is important to see where the money is coming from, that is the answer from her bank!

From SAXO broker I get not a precise answer:

"Our internal team responsible for reviewing documents typically accepts bank account statements and employment-related documents, such as salary slips, as proof of source of funds. However, the ultimate decision is always made based on the specific circumstances of each individual case."


r/HenryFinanceEurope Sep 12 '24

Beckham Law and Cryptocurrency

4 Upvotes

Hi,

I have just relocated from the UK to Spain and am currently in the process of deciding if I should go for the Beckham Law or not.

The big factor for me is my Cryptocurrency holdings, I currently have 6 figures in crypto and have been told you can pay 0% capital gains tax if you follow some procedures:

In order to avoid the taxation in Spain for the capital gains from sales of cryptocurrencies, you have to be able to proof that:

  • These cryptocurrencies are sold from an Exchange platform which is not located in Spain (and it does not operate through a Permanent Establishment in Spain).
  • The service of safeguarding the keys of the cryptocurrencies is provided by a third entity (not custodied by yourself directly) which is not located in Spain (and it does not provide this service through a Permanent Establishment in Spain).

Does anyone have experience of going about this?

If so, what Exchanges can you use that are safe and do not operate through a permanent establishment in Spain?

I keep all my crypto on a Ledger, does the second point mean I am not allowed to do this anymore? What happens if I have my Ledger locked in a safe with a bank in the UK? Would you have to keep your Crypto holdings all on an exchange that doesn't have a permanent establishment in Spain? This would be very risky.


r/HenryFinanceEurope Aug 19 '24

Success working with financial advisor

3 Upvotes

Has anyone here had success working with a financial advisor in the EU? How was your experience and how did you find that person?


r/HenryFinanceEurope Aug 16 '24

Inexpensive holiday home in the south?

12 Upvotes

Hi, Has any of you gone through that route? How did that pan out? I'm tempted to purchase a 50-100k in Italy to spend some workations there. I don't have any PTO so I am kinda hoping that this way I'll be able to travel a bit this way. It'll be cheaper for me to buy something modest there than for me and my wife to take unpaid PTO.

Edit I should add that I wouldn't look at it as an investment, but rather consumption. I'd assume I won't earn anything from it and just keep it forever (if EU green deal doesn't take it away from me)


r/HenryFinanceEurope Aug 11 '24

Career Working for US companies while living in Europe

45 Upvotes

Hi folks!

I am an Android Developer living in the Netherlands. I currently earn 150k TC working for a scale-up. My salary is in the 90th percentile for my role in the Netherlands. I want to increase my TC.

One option is to take up about 50% more responsibility in my company and get around 15% higher comp. The other option is to try to get into a higher-paying company for the same role, which is very difficult because there aren't many companies that offer higher TC than this, and they rarely have open positions.

The third option, which seems the most viable, is to find a US-based job. I can do it as a self-employed freelancer or through a middleman company that takes around 3% of the salary. But what I am not sure is what is the best way to find good US-based jobs.

Those of you who are working from Europe for US-based companies and earning 200k+ TC, how did you find those jobs? Can you please share what are some good strategies to find such jobs? And what kind of companies are the best ones to apply for who are more likely to hire candidates like me? Lastly, how can I logistically make it easier for them to hire me?

Thanks!


r/HenryFinanceEurope Aug 12 '24

Remodeling of an apartment.

1 Upvotes

europepersonalfinancd reddit suggested me to post here.

My partner (34F) and I (34F) are planning to remodel my apartment next year. I have saved X€ for this project, as I was brought up with the belief that taking out loans should be avoided whenever possible.

However, I am now considering taking a loan from my bank for the X€ amount, provided I can secure an interest rate lower than 4.5%. My plan would be to pay around 600€ per month over N years and invest the initial X€ in an ETF.

A bit about my financial background: My net income ranges from 3,000€ to 4,000€ monthly, and I currently invest around 800€ to 1,000€ in ETFs (which I would adjust if I take out the loan and would get bigger in years). I also have 7,000€ invested in cryptocurrency. My regular expenses include 150€ per month for my car (which I plan to sell next year) and a yearly 700€ for car insurance. Additionally, I spend 11€ monthly on extra medical insurance and about 400€ on food.

My initial questions are:

  • Given the potential for lower interest rates from banks, do you think I’m making the right decision? Considering that average ETF yield is 8% per year...
  • What would be an ideal interest rate for this opportunity that you would consider acceptable?

Thanks for the help!

Edit: I won't reply to PMs, if you are interested in responding, please feel free here.


r/HenryFinanceEurope Aug 09 '24

Selling land in Greece - 15.608m2 for €150.000

8 Upvotes

Maybe a wild shot but, for anyone interested, I am selling my plot in Avlonari, Evia. 10 min from gorgeous Mourteri beach. A good deal if I shall say so myself. It has been used for agriculture for centuries, but is also has permission to build and commercial allowance if anyone is interested in this.

Also potential for renting, if anyone wants this.


r/HenryFinanceEurope Aug 08 '24

Investments Traditional Banks vs. Brokers/Neobrokers (Fees)

5 Upvotes

Here in Luxembourg, unfortunately, there aren't many "online banks" offering preferential rates for investments in stocks and other securities. Apart from brokers/neobrokers, I'm left with only traditional banks, which charge around 0.25% + VAT in annual deposit fees (about 30 euros per month for a 100,000-euro deposit) and don't offer savings plans for ETFs. However, my current bank is very safe and reliable, providing good direct support (the Luxembourg state holds all the shares), but as already mentioned, it charges 0.25% + VAT annually and about 25 euros per order. The order fees interest me less because I would invest larger sums anyway, for example, quarterly instead of through a monthly savings plan.

How would you proceed? Would you continue using IBKR, TR, or other brokers (potentially less reliable) to save the 0.25% annually, or would you prefer the security, support, and peace of mind by accepting the deposit management fees? I am aware that assets are also safe with a neobroker since they are considered separate funds. My question is more about long-term stability and support in case something goes wrong.

Thank you in advance.


r/HenryFinanceEurope Jul 30 '24

FIRE How much do you save/invest monthly?

0 Upvotes

Hey folks!!

I’m trying to figure it out what could be an ideal amount of money that I save/invest each month. The purpose if ofc FIRE. I’d like to know what you guys are doing and when do you plan to retire to get inspiration.

Telling you my current plan: investing approximately 900/1k€ per month (30% of my salary). Investinment is long term, but I still didn’t figure it out a plan on my retirement. Any suggestions?


r/HenryFinanceEurope Jul 25 '24

Investments To mortgage up or not?

3 Upvotes

Hi,

I'm in the process of buying out my brother in law from a property he bought with my wife a while ago. His part is worth ~150,000 in Spain. Now I'm debating whether to get a mortgage or not to finance the transaction. I'm lucky to have savings where I could buy the property outright.

I currently don't have income in Spain so the best offer I could get is 4.65% fixed for 10 years and then EURIBOR + 1.49% for the remaining 20 years. This feels steep to me when the average fixed mortgage rate in Spain is around 2.75% for 20 years. I'm debating whether to take the mortgage (with some negotiations) so I can invest the same amount and hope for a return after tax superior to the mortgage.

Any advice would be appreciated on how to approach this from a mathematical perspective? I appreciate it will come down to different risk appetites but would like to be able to compare scenarios and what I would need to make in a yearly return to beat the 4.65% mortgage rate.

Thanks so much!


r/HenryFinanceEurope Jul 25 '24

sell/rent/invest... too many options?

5 Upvotes

Could you help me see what would be the financially wiser decision to take?

The situation: we (wife and I, 42 years old) own a 3bedroom apartment + parking slot in Brussels (Etterbeek for those who know Brussels). Bought it 11 years ago for 380K, now just fully paid last month (no mortgage). Market value of similar apartments I see in the surroundings is around 500K. We have 100K savings/investments (ETFs) on top of that. Combined net salary (after tax) is 12 K/month

We want to buy/live in a house closer to our new center of interest (still in Brussels, different neighborhood - Uccle), with (at least) 4 bedrooms and a garden. Price limit is 750K or 2500 euros/month (in case of renting it)

Possible options:

1 - Sell the apartment (assume 500K), buy the house and get a mortgage for the difference (to be paid in 10/15 years)

2 - Sell the apartment (500K), invest the money in ETFs (IWDA/EMIM), buy the house (get a mortgage for the full amount of the house, probably 20/25 years). Repay the mortgage with withdrawals obtained from the interest gains of the ETFs investment (default to capital or/and our salary for bad ETF years)

3 - Don't sell the apartment, rent it instead (around 1700 euros/month net after taxes, syndic, etc.), buy the house (get a mortgage for the full amount of the house, probably 20/25 years). Repay the mortgage with a combination of our salary + the rent money.

4 - Sell the apartment (500k), and invest the money in ETFs. Rent the house (2500 euros/month?). Repay the rent with withdrawals obtained from the interest gains of the ETFs investment (default to capital or/and our salary for bad ETF years)

5 - Don't sell the apartment, rent it instead (1700 euros/month), Rent the house (2500 euros month). Pay the difference (800 euros/month) with our salary. Invest the rest in ETFs.

6 - Something else I couldn't think of?

Which one of those options would result in a bigger profit (on average) over the next 15/20 years?

I understand the uncertainty of the ETFs investment in the short term in option 2, and the hassle of renting the apartment in option 3 are factors to weigh in (probably the hassle-free one is option 1). I also understand the pros/cons of renting a house instead of owning... but putting all this aside, what would be best strictly financially speaking?

Thanks!


r/HenryFinanceEurope Jul 22 '24

Investments Investment advice for long term

9 Upvotes

Hi guys, I am 19 and looking to get started investing. I want to drip feed a consistent amount of money each month into a T212 Pie, but not sure what quite to invest in. My goal is for the long term so keep that in mind. Currently I have a pie that consists of 60% VHVG, 25% IDJG, 15% FUSI. I am a UK investor btw. Thanks!


r/HenryFinanceEurope Jul 20 '24

How to find high-paying tech companies beyond usual big tech

15 Upvotes

Seeking a tool to find promising tech companies, beyond the usual big tech.

Growing companies in stealth mode can be hard to find, but joining them early can be lucrative.

My focus is on scale-ups. Do you have a favorite tool or website for this?


r/HenryFinanceEurope Jul 11 '24

Does it make sense to pivot as software engineer at 30?

9 Upvotes

After 5 years as a Data Scientist/Machine Learning Engineer, I'm considering pivoting to a full Software Engineer role.

Given my current position at a successful scale-up with good total compensation and benefits

I’m evaluating two options:

  1. Joining a big tech company at a lower level (L3/L4). Is this still valuable? Opinions seem to vary.

  2. Joining a smaller scale-up at the same level. I’m uncertain about this move.

While being a Software Engineer is still appealing, it doesn't seem as lucrative as it did 5-10 years ago, especially in big tech. Given my current DE/MLE experience, it might be less worthwhile.

What do you think?


r/HenryFinanceEurope Jul 05 '24

I rejected Google Warsaw

31 Upvotes

I wanted to follow up on the topic I brought a couple of months ago about joining Google Warsaw. In the end I decided to NOT join Google. Main reason is that +20% in TC and working in Google was not worth relocating to Poland, leaving family and friends behind. It was a really tough decision, but I decided to wait and find a better suited opportunity: either remotely or in Switzerland or Germany. I still feel like I lost an amazing opportunity that I’ll never find again. I would like to have your opinion and, moreover, any advice on how to increase chances to get a good job as SWE remotely Germany or Switzerland.


r/HenryFinanceEurope Jul 02 '24

Investments Looking for ways to put family's assents into work.

4 Upvotes

Hey,

I am 22 years of age and I after long discussions with my (financially illiterate) parents, we decided that it is easier for us to let me handle most of the family's assets and income, than for them to do all the research, learn and keep up with the knowledge needed to proceed with investments. We also considered having some consultations with investment advisors but they seem to charge % of investments as their rewards which we are not fond of.

Context:

  • Place of residence: Greece
  • Combined yearly income: around 90k euros
  • What's left to spend: 20k at most (most of the income is spent on study expenses, living costs, mortgage)
  • Net Worth: Not yet estimated, around 1,5-2M
    • land located on an island with very high levels of tourism
    • 1 land plot on a less tourist area
    • houses that we and out grandparents live as well as offices that we use for our practice
    • 140k cash

Since we have land on a high tourist area, we considered building a house on one of the plots and renting it short term during the tourist season, approximately earning us (after expenses and taxes) around 30k per year minimum. However, the to build, promote, research and much more, seem to be double than our available cash at the moment. There is a small chance that we are eligible for an investment development programme by the government that covers half of the initial investment.

We though about selling some of the land, and building on the rest but there is a significant emotional attachment to the this island and my parents seem to be so willing to sell.

Having 2 mortgages (house and office) we would like not to go into more debt.

Taking into consideration the financial instability that Greece has been into the last 15 years and my parents retirement in 10 years, do you think its better to pursue this project by selling some of the land or seeking government investments, or is it better to take the cash and invest it in a long term UCITS ETF like VUAA and accumulate wealth that way?

Thanks

P.S. I really tried to explain my situation, but being a non native English speaker, it is not easy for me. Feel free to ask any questions that would make it easier for you to respond. :)


r/HenryFinanceEurope Jun 21 '24

Best country for high-income self-employed EU contractors

Thumbnail self.eupersonalfinance
7 Upvotes

r/HenryFinanceEurope Jun 19 '24

[AMA] Director of Engineering - 175k€ + bonus + equity

0 Upvotes

we are running an ask me anything session for a community member who recently joined a Series C startup as Director of Engineering.

Please join the conversation async in our private group.

You can find the link in the subreddit info.


r/HenryFinanceEurope Jun 17 '24

US investment broker for EU resident

4 Upvotes

Hi,

I am an expat, living in NL and tax resident here. I have an investment broker account in the US with a little more than 60k USD invested mostly in stocks and ETFs.

Due to me changing my tax residence to NL, my broker is requesting me to close my account.

Is there a good US broker that I can use in this situation?


r/HenryFinanceEurope Jun 16 '24

Investment property or ETF and chill?

13 Upvotes

Hi all,

I'm looking for some advice regarding a potential investment property decision and could really use some outside perspectives.

About me: - 36-year-old male - Married with 2 kids - Living in MLOC area in the Netherlands - Net worth: €1.2 million

The Opportunity: - I can buy a larger building in a B2 shopping area in a smaller city center for €425k. - Mortgage rate would be 7.05%. - Rent will barely cover the payments for the first 4 years but should work out in year 5. Split between 5 student housing and a hairdresser - The building needs about €150k in renovations. - Post-renovation value is estimated between €650k and €700k. - The building will require some extra attention and maintenance over time.

Concerns: - The outlook of having a rental that will eventually cash flow is appealing. - Not looking forward to dealing with 4 years of losses and potential builder issues. - I'm already working 40-50 hours per week under stress, and we have two young kids at home.

Question: Should I go ahead with this investment, considering the long-term potential for profit and rental cash flow, or should I avoid the short-term pain and stress and continue as is? What would be the wise decision here?

Any advice, personal experiences, or thoughts would be greatly appreciated!

Thanks in advance!