Thanks for sharing the numbers!
If you don't mind, I would love to see your spreadsheet. I would like to plot in the numbers for the worst case scenario, where we pay 26% tax on the Danish investments with a fee of 0,51% vs 46% tax on Vanguard at 0,06% fee.
Apart from that I am not sure any of the current Danish (Sparinvest/Sparindex) index funds actually can give you the same exposure as the Vanguard ones, especially the VTSAX, VBTLX and VGSLX that Jcollins recommended.
I have eyeing the Danish index OMX C20 fund, but again it seems that at the moment at least the US are the economy that has the most going for it.
If you or anyone else have any experience with and advice for the Danish index funds, I would love to hear them :)
I'd also like to hear about your retirement plan for being FI at 40. I am 36 at the moment, and even with no debt and less than 40k $ in savings, I don't dare dream of being FI within the next 10 years. I hope, but I have not yet seen the numbers that indicate that we can do it realisticly - At least with our current lifestyle, of saving about 40~% of our income.
What have you done in terms in pension funds, investments and so forth - If you don't mind sharing I would like to hear about your plan in general :-)
Once again, thank you for taking the time to answer these questions!
I know I'm a bit lost when it comes to investing, though I'm trying to learn even if the Danish laws are not easy to figure out.
If you provide me with your email in a PM I’ll send the spreadsheet (nothing fancy).
Unfortunately, I am no great expert when it comes to index funds (I know the tax rules) – but try to have a look at their (Sparindex) homepage – and compare to the Vanguard Funds.
My plan for Early Retirement – long story short…
• I have always spent less then I have earned.
• First paycheck arrived at age 9!
• First full time job at age 20 (studied in the evenings).
• Bought Rental Property at age 25 (condo).
• “Stupid” moves – bought new car at age 24 (40 % cash 60 % loan), GF and I bought our house in late 2007 :-/
• Never paid the highest tax rates (putting these earnings to pension savings and entrepreneur savings).
• I have a nice salary (not exceptional)
• Some small side income hustles
• Current saving rate 66% (including tax deferred savings and mortgage repayment)
• GF 29, we plan and budget for two kids – GF will not be able to retire as early as me (this is something we are working on). We don’t have joint accounts/savings.
• Our budget does not include any government pensions (I don’t want to rely on this)
My investments are at moment (home equity not included):
• 18 % Rental property
• 8.1 % Individual stocks
• 15.8 % Corporate bonds
• 24.3 % Cash
•
Total after tax savings 66.2 %• 37.7 % Retirement savings (80 % Individual stocks 20 % cash)
• 16.0 % Entrepreneur savings (95 % corporate bonds 5 % cash)
• -19.9 % Deferred tax (no interest )
•
Total tax deferred savings 33.8 % I plan to buy one more rental property using some of the cash.