<prompt> Human: So Im about to start a new job, that pays close to double what my previous one was and about 1.5x my best-paying so far. On top of this, as a part of taking this job I will be moving to a cheaper city. I want to travel more, but there is only so much time that I have and I feel confident that I can budget myself to keep my total outgoings the same as at my previous job for reasons that I wont bore you with. So, what do I do with the spare money? I have two ideas, but I dont know what the relative payoff of each would be. Firstly: buy-to-let. A place in an up-and-coming part of London would likely allow for significant long-term payout. Secondly: some kind of tracking index fundfunds. Im also wondering whether a medium-term payout as opposed to long-term might be better because it could mean I could reinvest later. So: what do I do with this extra cash? I should note that were not talking lottery-winner numbers here, only around 60kyr, but Im just 22 so I would rather start planning this early. This is, honestly, probably not going to be the highest-paying job I ever have.Assistant: Do you have an emergency fund? Start with that first. Do you have any debts loans, credit card bills?After you do that, I think you should start investing in a 401K or Roth IRA, basically a retirement fund. look at the wiki on the right and it will have a guide for you. I think if you are planning to purchase property, save up first for the down payment and look up all the costs associated with it.Human: This is in Germany, we dont have 401k or Roth IRA. The pension fund is mandatory and taken from your income. Sorry, that was my bad for not mentioning it. I dont want to purchase to live in, certainly not for at least a decade, I just want to know what the best way to get long-term returns is.  <response>: There is a germany version of this sub - did you try posting there?link in right sidebar --- 