Hi everyone,
I’m 16 years old, living in Europe (the Netherlands), and lately, my mind has been flooded with anxiety about the future. I feel this intense, constant rush to build wealth as fast as possible.
Right now, I make a decent income for my age and manage to save around €700 to €800 a month. Out of that, I invest €300 per month into broad market index funds. The rest goes into cash savings. Currently, I have about €3k invested in broad index funds and around €6k–€7k in my savings account. Since I don't have major expenses, my savings are growing pretty quickly.
Context on my situation: Since I live in Europe, university tuition and healthcare are relatively affordable compared to the US, so I won’t need to wipe out all my savings for a degree.
Despite my current numbers, I can’t shake the feeling that I’m not investing enough and keeping too much in cash. I feel like I'm worrying way too much about money for a 16-year-old. When I look around, most people my age spend all their money on short-term things and wonder why they are broke at the end of the month.
I’m feeling a bit stuck. Am I overthinking this? Is my allocation between cash and investing reasonable for a European 16-year-old? I’d love to hear your perspective and any advice on how to let go of this financial anxiety. Thanks!