Ján Tonka

Articles by Author
Book review: Your Money or Your Life | Finax.EN
17. August 2020

Book review: Your Money or Your Life

Financial Independence, Retire Early (FIRE) has become a goal of many people in recent years. The idea of early retirement and having free time certainly sounds better than living in a predetermined way: 40 years of work and surviving in retirement. Today, we will have a look at a genre classic from 1992 - Your Money or Your Life written by Vicki Robin and Joe Dominguez, which represents the beginning of the FIRE movement.

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Financing a real estate purchase | Finax.en
16. July 2020

Financing a real estate purchase

In recent years, the National Bank of Slovakia has taken several measures in order to mitigate the risks associated with the rapid growth of Slovak household indebtedness. Easily available 100% mortgages are a thing of the past. If you want to live on your own today, in addition to rising real estate prices, you also have to deal with several banks’ requirements.

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Are you prepared to live 20 years without payroll? | Finax.eu
24. May 2020

Are you prepared to live 20 years without a payroll?

Pensions are not something that is discussed over a beer in Slovakia. However, it is a subject we cannot afford to ignore, as this period represents approximately a fifth of our lives. How much money will I receive during retirement? And will it be possible to make a decent living from this amount? Will I be able to reach the retirement age at all? These are the questions that will sooner or later begin to bother each and every one of us.

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Buying or renting - what is more worthwhile? | Finax.EN
7. May 2020

Buying or renting - what is more worthwhile?

Securing a housing is one of the largest budget items for most people. If you are not one of the lucky ones who have acquired their own housing almost for free during the housing fund privatization in the 90s or by inheritance, you basically have two options – housing in a rental or “in your own”, i.e. with the burden of a mortgage. But what is more favourable? Is it better to be indebted for decades or to make use of the flexibility and carelessness a life in a rental has to offer?

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22. November 2019

High fees are one of your biggest expenses

If your bank or your portfolio manager issued an invoice on tens of thousands of euros, you would think, that it must be some kind of a bad joke. It might sound ridiculous, but it is happening every single day and even without “the invoice“. Overpriced financial products are hindering better future for thousands of people.

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6. November 2019

Do you want get rich? Invest long-term

Warren Buffett, one of the richest people in the world, bought his first equities at the age of 11 and continues to buy them even today. At the same time, he says: "I regret that I did not start investing earlier". Buffett's path to wealth is the embodiment of the compound interest principle. Up to 99% of his property was earned after his 50th birthday.

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Emergency fund – in good times and bad times | Finax.en
17. October 2019

Emergency fund – in good times and bad times

Loss of work, longer sick leave, leaking roof, broken car or unexpectedly high energy ar-rears. If you do not want such relatively common problems to get out of hand and require unnecessary loans, you need to be prepared for them. The emergency fund serves exactly for this purpose. But how much should you “put aside “? Where should you keep the emergency fund? Is your current bank account sufficient or can you invest it?

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Financial freedom - your path to early retirement | Finx.HR
6. September 2019

Financial freedom - your path to early retirement

It is often discussed in central Europe, how to teach people to save and smartly invest at least small percentage of their income. In the meantime, a different trend is taking off in the west. More and more people save majority of their income to gain financial freedom. Money can buy you not only new things, but also something much more valuable – freedom.

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