This is related to this question, but that question's answers are 95% tailored for residents of the US, basically recommending to full out the 401k retirement plan and this and that about stock market investments.
My question is, are there other types of investments that are good for a young person starting out a career?
- I live in a welfare state in Europe, so I don't have college debt, (debt of any kind actually).
- Rainy day funds are much less needed than in the US, since here there is unemployment insurance for at least 18 months.
- I can probably invest 500€-600€ monthly for something. (The question is what.)
- I am not looking to invest in my retirement (I am already forced to pay for that out of my salary). I want to maximize my earnings for medium term (5-15 years).
- I specially want to avoid the typical paradox of (be poor in your 20's,30's,40's and be able to use your money after your 50's). That is not an option for me, I want to use my money for X or Y. But the money used has to be earned from an investment. That is a general rule for me.
For example I want to earn from my investments at least 70k€ after 5-10 years. So I'm guessing this would be a high risk investment, correct?
I would like to spend on travel, on courses, on sports etc... But I insist that the money I spend should be a result of an investment not from my salary.
Additionally I am not looking to buy a house so I don't want a mortgage. Except if this would constitute a good investment?
FYI: this applies to France. But I'd like a general answer so others can benefit.
If the question is unclear, a duplicate or off-topic don't hesitate to comment