My Journey to Smart Investing... Etoro

MMI suggests that I should allocate 10% of my earnings to my FFA jar daily. This seemed like a simple and effective strategy, but I wanted to make sure my money was working for me.

Initially, I considered depositing it in my bank. However, the interest rates were disappointingly low. Even fixed deposits and bonds were not much better, offering an average return of around 3% for a minimum deposit of $100k.

This led me to explore the world of stocks. One particular stock caught my eye - SPY. It had consistently yielded returns of 10% per annum over the past decade.

BRK was another option I considered. But its returns were comparable to SPY and it relied heavily on Warren Buffet. That seemed like too much of a risk for me.

I also explored other ETFs like VOO, TQQQ, and others. However, they were relatively new and I wasn’t convinced they would be as stable as SPY.

But there was a catch with investing in SPY - it required USD. Converting my currency to USD would result in an immediate loss. Plus, Moo charges $1 for every transaction.

Just when I was about to give up, it hit me - I had USD sitting idle in my PayPal account! Using that would save me the conversion fees.

After some research, I discovered that eToro accepts PayPal and the transaction fee for the SPY ETF is quite reasonable.

The ongoing charges on the SPDR S&P 500 ETF (SPY) are around 0.095% per year… More info here... https://www.etoro.com/stocks/investing-in-etfs/

And that’s how I found a smart way to invest my money. It’s been an interesting journey and I’m excited to see where this path leads me.