Portfolio Update & Monthly Passive Income Revealed

[@SmartMoneywithKai]

► ALL THE TOOLS I USE - PERSONAL & BUSINESS www.smartmoneywithkai.com/all-my-tools

[@compoundingoak]

great video!

[@SmartMoneywithKai]

Thank you 🙏

[@khan200us]

what is the name of UAE digital banking app similiar to wallet and can a non-resident of UAE open a bank account on that app? Thanks!

[@SmartMoneywithKai]

Hi, It's called Wio Bank and no, sadly only UAE residents can use it, which is true for most banks. Some do allow, but it's very limited functionality. Cheers

[@theOneAndOnlyLordArthur]

Hey, great video! Do you recommend holding more than 22k euro in cash in platforms like 212? I was thinking of holding until that amount and all exceeding, invest in etfs, sounds like a plan?

[@SmartMoneywithKai]

Hi, thanks a lot and yes, makes perfect sense to be honest. If you still want or have to hold on to more cash you could also keep this in other brokers I mentioned that also pay good interest and invest the rest on T212 👌

[@osamaali3210]

Great video Kai. Thanks. I live in Italy, and I use Trading 212. My question is, is there a tax subjected on the internets of the the free univested funds? And how much is it in Italy?

[@SmartMoneywithKai]

Thanks for the kind words 🙌 Regarding your question, in Italy, any interest earned on uninvested funds, like cash sitting in your brokerage account, is generally considered taxable. The tax on financial income in Italy is typically 26%, which applies to both capital gains and interest on uninvested cash.

[@compoundingoak]

A question: you show in the video that the cash that you hold in T212 is only US Dollars. But your investment in the S&P 500 is in euros and we can see the FX impact. Why is that? Thanks!

[@SmartMoneywithKai]

Hi and no, I hold dollars and invest in dollars, just my display currency is EUR but the FX impact is irrelevant since I keep it in the same currency format. I just track my net worth in EUR hence I still keep display in EUR...for now 😉

[@mr1992er]

no revolut?

[@SmartMoneywithKai]

Hi and no, I use it for daily banking and payments, but for stocks not the best option 👌

[@cryptounicn9542]

Hey Kai! Great video. Why don’t you invest in Lightyear? I’ve started out there and I guess eventually I’ll move over to IBK. Do you think I should maybe use trading 212 over Lightyear?

[@SmartMoneywithKai]

Hi, thanks a lot and good question, I really like Lightyear but since my portfolio size is still manageable I feel good having it spread across two brokers for now, maybe if it continues to grow to a larger amount I might add another broker to this mix but I do not want to over-diversify at this stage, but if you are with Lightyear you are in good hands 👌 Cheers

[@CindyLenzewski]

Hey Kai, thanks for your video. Kai I live in Germany and I just opened a scalable account do you have any idea about taxes and if I need to fill out my tax forms and mention that . Because I think the broker does send my taxes from the account to the government of Finanzamt. Or how does it work?

[@SmartMoneywithKai]

Hi and thanks a lot 🙌 Not 100% as I can't use Scalable in my country, but some brokers do that, I am sure you will find that under taxes, especially if they are German based broker. Others like Interactive Brokers or Trading 212 provide you with the end of year tax report which you can then use to send it to your tax authorities accordingly. Cheers

[@erodotosdemetriou6506]

Switched from eur to usd cause of the high interest rate ... Lost a ton of money cause the dollar went down against the euro 😢

[@SmartMoneywithKai]

Hi and yes, FX risk is always something to consider that's why I always recommend people earning and spending in EUR let's say to stick with that currency as otherwise you will experience those swings. However, if you don't need the money right now, just hold on, I am sure it'll soon change again as it always swings and long-term I actually think USD is going to outperform EUR, which is why I also mostly hold USD 👌 Cheers

[@Y0UTUBEADMIN]

DIRT tax ruins interest on cash

[@SmartMoneywithKai]

Hi and sure, it's not nice, but I would still prefer that, than keeping the cash in a 0% interest account 👌 That's for the emergency fund, the rest should of course be better invested. Cheers

[@isrealfavour7182]

@@SmartMoneywithKaiplease help me am new to Revolut and trading in general it a bit confusing but am coping haha, but I want to know EPS is it earned daily or monthly or yearly???