I came to this site because I want to see what are my options with my current situation. I should start by saying that I am from Serbia and I possess no other citizenship. I have recently finished college and started working in my field (I even got a permanent employment).
Money has never been a problem for me and my family since my father is a successful small business owner. His practice up until a few years ago was to put some money on the side and set up a savings account for one year. The interest rate was about 4% for Euros. But the current savings rate is about 1%, which he thinks is not worth the hassle anymore.
Long story short, he currently has about 100k Euros in a vault! Because he considers it retarded to put that money and gain only 1k euros after a full year.
To me this is wasting a potential that that money could do but I do agree that it is very dumb to get only one thousand euros after a year. My question is, is there anything else we can do with that much money?
I read all these things about the US and Britain having savings accounts, 401k accounts and matched employer pension funds, and some other stuff I really don't know nor do I understand but I am pretty sure we don't have such benefits in Serbia. I also heard about stock investments but I don't know how risky that is and I don't really believe in the stability of Serbian firms (I don't know if we even have a stock-market here or if I can invest in foreign ones).
I should also stress that we are in no debt what so ever and that money is not tight for us. I just want to know if there is a better way to save more money than a yearly 1% regardless if it is long term or not?