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How much money is in your savings account? We ask a different Dutch person that every week. Because although we talk more and more about money, we never talk about exactly how much we earn and save. This week: 57-year-old Amanda, who no longer has to work thanks to her real estate investments.
Profession: on retirement
Net income: 5000 euros (through rental income)
Living situation: owner-occupied home with partner
Amanda’s Savings Account
Tell me, how much is in your savings account?
“There is about 300,000 euros in my savings account. I am very happy with my situation and the savings, it gives me financial peace.”
How much do you save per month?
“I no longer save, that is no longer necessary thanks to the rental income. I have always done that. When I was 35, I really started saving for a goal: buying an apartment to rent out. I had to save some starting capital and I would borrow the rest from the bank.
I bought my first apartment around the age of 40, but soon after I bought the second, third and fourth. My strategy was to buy quickly to take advantage of the leverage effect.”
And you are now retiring?
“Yes, I now also have a fifth apartment for rent and have been retiring for six months now. I am a financial advisor, but I can live from my rental income.”
How did you come up with the idea of investing in real estate?
“Since I was 21, I have wanted to buy real estate one day. I wanted income that would keep up with inflation and that is the case with rental income.”
Do you have a tip for people who also want to invest in real estate?
“Investing in real estate is always attractive, but it must be manageable. By this I mean that real estate should not be too expensive. Better to have four small apartments and four times the rent than one very expensive apartment. This way you spread the risks.
My tip? Don’t start too late and make sure you have some initial capital first. This is a requirement of the bank.”
The savings account of Bart (31): ‘I have about a hundred thousand in my savings account’
You can find all articles in this series here. You can find other useful articles about money & career here.
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