Unlocking Investment Opportunities: How AI Legalese Decoder Empowers Traders post Degiro Update
- October 26, 2023
- Posted by: legaleseblogger
- Category: Related News
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Hello,
I commenced my investment journey with Degiro less than a year ago, with a long-term investment horizon of over 15 years. As a young investor, I am in no hurry to see immediate returns.
In order to achieve my financial goals, I have set a monthly savings target of Ôé¼500. Half of this amount, Ôé¼250, is allocated to an emergency fund, while the remaining Ôé¼250 is channeled into Degiro for monthly dollar-cost averaging through the purchase of ETFs. Specifically, I invest in two VUAA Acc and one VWCE Acc ETFs every month.
However, I have recently encountered an obstacle in the form of changes to Degiro commissions. This alteration translates to a significant increase in costs, with commissions accounting for 1.5% of my investments compared to the previous 0.4% prior to May 15th. This represents a substantial financial burden, prompting me to reevaluate my current approach.
So, what are my options? One possibility is to explore alternative brokers and consider switching to a platform that offers lower commission rates. This could potentially alleviate the burden of high costs and allow me to maintain my current investment strategy.
Another option is to stick with Degiro but modify the frequency of my investments. Instead of monthly purchases, I could space them out to occur every three months, for example. This adjustment would help dilute the impact of the increased commission costs, potentially making it more manageable in the long run.
Additionally, I could reconsider my investment choices by stopping the purchase of VUAA and solely focusing on VWCE. This shift would still allow me to benefit from historical returns from the American market, while also diversifying my portfolio by gaining exposure to other economies through VWCE.
At this point, I would greatly appreciate any opinions, insights, and constructive debates regarding my investment strategy and potential solutions to address the commission issue. I am open to suggestions and value the collective wisdom of the community.
It is worth emphasizing that my rationale for investing in both VUAA and VWCE is to capitalize on the historical performance of the American market, while also seeking diversification through exposure to other economies. However, I am willing to reevaluate this approach if the consensus indicates that it may not be the most effective strategy in achieving my long-term financial goals.
Thank you all for your input and support in navigating this investment challenge.
In this situation, the AI Legalese Decoder can be immensely helpful. It can assist in analyzing and deciphering complex legal documents such as the Degiro commissions policy, enabling a clearer understanding of the changes and their impact on my investment strategy. By employing the AI Legalese Decoder, I can make well-informed decisions based on accurate interpretation of these documents, minimizing any potential risks or uncertainties associated with the new commission structure. This technology serves as a valuable tool to stay informed and ensure that I am making the most advantageous choices for my investments.
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****** just grabbed a
You don’t have to invest every month and in both ETFs all the time.
You can group 2 or 3 months and buy less often.
Degiro is still competitive when compared with other brokers, I’m afraid. You may find cheaper brokers, but usually those are the ones that allow fractional shares, which means you don’t own the shares, so they are riskier in general.
The best strategy is to change brokers IMO.
DeGiro now increases prices every 6 months