How do you handle work and money now and for the future? Do you live hand to mouth or do you deliberately plan your financial future? And are you making arrangements for the future yourself, or are you part of a pension fund?
Daniel (20) invested his first student loan to pay for his pilot training, with all the risks that entailed.
Daniel Vischjager (20)
Profession: journalist, customer support agent, future pilot
Weekly number of working hours: about 40
Income: 12 to 20 euros net per hour
Savings: a few hundred euros
Pension set up? no
What do you do in your everyday life?
“I just graduated from the School of Journalism and want to train as a pilot after the summer. Becoming a pilot was a boyhood dream of mine, but it has always been something for ‘later’. You have to be 18 to get a license and I finished high school at 16. I didn’t want to just wait around for two years and I also really liked journalism, which is why I registered for this study. But becoming a pilot seems just a bit more exciting. Down the road, I would like to combine both professions; writing about aviation in addition to my work as a pilot.”
Pilot training costs a ton. How do you fund it?
“I’ve borrowed the maximum from the Education Executive Agency since day one of my journalism studies and invested every cent directly in stocks. Of course, all that has to be paid back, but you can take an incredibly long time and you don’t pay any interest. I’m not stressed about it at all. My mom helped me; she invests for her own retirement and knows what to look out for. I have invested in Apple, Tesla and mutual funds, among others. The total value of my portfolio is now 50,000 euros. So, I already have half of it. I also have crypto coins that sometimes do well. My mom and I often buy crypto coins together. We pick one, we each put in half and we divide the proceeds. For example, we recently profited enormously from the rise of Dogecoin. I bought some when that coin was worth 5 cents and sold them at 40 cents. I made almost 6,000 euros profit on that. But with those crypto currencies you never know, that’s why I only do that with small amounts. To save extra, I’ve been working two jobs for a while now.”