Best investments in Belgium 2025

What does best investments really mean?

When someone asks for the "best" investment it sounds like there should be one perfect answer. In reality, it depends on you: your goals, your time frame, and your comfort with risk. An investment that’s best for a quick profit isn’t the same as one that’s best for steady growth over 20 years. In this article, we’re focusing on long-term investing for beginners in Belgium. That means we want an option that can grow your wealth reliably over years and decades, not just a quick win. Generally, the best long-term investments have two key traits: higher returns than saving in cash, and a risk level that you can stick with through ups and downs. With that in mind, let’s look at what most Belgians do with their money and why you might consider doing things differently.

As Belgians, we love to save

Belgians are known to be diligent savers. As a nation, over €300 billion sits in regulated savings accounts an enormous amount! These savings accounts are popular because they are extremely safe (your deposits up to €100,000 are protected by the government) and easy to understand. You put money in, earn a small interest, and you can withdraw anytime. However, there’s a big downside: the interest rates are very low. In fact, many big banks in Belgium offer interest around 0.30% to 0.60% per year on savings. Meanwhile, inflation (the rise in cost of living) might be ~2% or more. The maths isn’t pretty.  If your money grows 0.5% but prices go up 2%, you’re effectively losing buying power each year.

To put it simply: keeping all your money in a low-interest savings account can feel “safe,” but it almost guarantees that you won’t grow your wealth. After a few years, you’ll notice that your account balance didn’t keep up with rising prices. That’s why many people start searching for the best investment as they want their money to actually work for them, not shrink in real terms. Don’t get us wrong: a savings account is important for your emergency fund (an amount set aside for unexpected events). But once that emergency cushion is filled, it’s wise to look beyond the savings book if you want long-term growth.

Real estate

Outside of savings accounts, one of the first things people consider as a “good investment” is real estate. We're said to be born with a brick in our stomach in Belgium. For example, buying an apartment or house to rent out, or simply to hold and sell later at a profit. In Belgium, property has a bit of a golden reputation. Owning a home is a goal for many, and those who can afford it might buy a second property as an investment. Let’s examine if real estate is the best investment for a beginner.
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Real estate is a tangible asset as you can see and touch a house. It tends to hold value or appreciate over the long run, especially in desirable locations (think of how property prices in cities have climbed over decades). If you rent it out, it provides a monthly income (rent). It’s also somewhat protected from inflation: as prices rise, property values and rents often rise too. Many people also like the fact that real estate is a “forced” investment. This means that once you’ve bought it, you are compelled to save (via mortgage payments and upkeep), which builds equity over time.

Pros of real estate

Real estate is a tangible asset as you can see and touch a house. It tends to hold value or appreciate over the long run, especially in desirable locations (think of how property prices in cities have climbed over decades). If you rent it out, it provides a monthly income (rent). It’s also somewhat protected from inflation; as prices rise, property values and rents often rise too. Many people also like the fact that real estate is a “forced” investment. This means that once you’ve bought it, you are compelled to save (via mortgage payments and upkeep), which builds equity over time.

Cons of real estate

Real estate has high barriers to entry. To buy a property, you usually need a large sum of money upfront (a down payment, typically 10-20% of the property price, plus fees). In Belgium, the transaction costs are significant :

1. There’s a property transfer tax (registration duty) around 10-12.5% depending on the region
2. Notary fees (~1-2%)
3. Potentially VAT on new constructions

These costs mean you often pay over the purchase price when all is said and done. That’s money you need the property’s value to recover before you see any profit. Real estate is also not liquid. What this means is that you can’t sell a house overnight if you need cash, and selling can involve months of process and additional agent fees. Furthermore, being a landlord comes with hassles and risks: tenants might leave or default, the property could need expensive repairs, or you might face periods with no rental income. Lastly, if you concentrate a lot of money in one property, that’s a lack of diversification as all your eggs are literally in one basket (or one building).

Bonds and saving accounts

Another traditional route is investing in bonds or similar fixed-income products. Bonds are essentially loans you give to a government or a company: they pay you interest and return the principal after a set time. In Belgium, people might buy the Belgian state bonds or certain savings certificates for slightly higher interest than a normal savings account. These are lower risk than stocks and can provide steady income. For example, if a bond yields say 2% annually, it will pay that interest reliably each year. The catch is that 2% is still quite low in terms of growth as it might just match inflation if you’re lucky, meaning your money’s purchasing power stays roughly flat. Bonds can be great for preserving wealth and adding stability to a portfolio, but as a stand-alone investment, they likely won’t grow your money significantly in the long run. If you’re young and investing for decades, putting everything in bonds would be ultra-conservative. It's safe, but with limited growth. So while bonds are part of the investment universe, we wouldn’t crown them the best for long-term wealth building. They’re usually used in combination with stocks to reduce volatility, not to drive high returns.

Invest in the stock market for returns

Now we turn to the driver of returns in the investing world: the stock market. When you buy stocks, you buy a piece of a company. If that company grows and profits over time, investors reward it by driving its stock price up (and often it pays dividends too). Historically, stocks have offered the highest returns of major asset classes over the long term. For instance, the U.S. stock market (often cited via the S&P 500 index) has returned about 10% per year on average over the last century (closer to 6-7% after adjusting for inflation).

Global stock indices, which include Europe, Asia, emerging markets, etc., have similarly provided strong long-run returns in the high single digits. Compare that to the ~0.5% from a savings account or ~2% from a bond, it’s clear why stocks are appealing for growing your wealth.

For Belgian investors, the great news is you’re not limited to Belgian stocks that feature in the BEL 20. Through various broker platforms, you can invest in companies across the world: be it big American tech firms, European industrial companies, or Asian consumer brands. However, for a beginner, buying individual stocks can be intimidating (and risky if you don’t diversify enough). That’s where ETFs come in.

ETFs (Exchange-Traded Funds) allow you to buy many stocks at once. You invest money into a fund, and that fund might hold a portfolio of, say, 500 different stocks. One very popular type is an index fund: it's a fund designed to track a specific index of the market. For example, an S&P 500 index fund will invest in all 500 companies in the S&P 500 index (the 500 largest U.S. companies). If those companies grow in value overall, the fund’s value grows. The idea is you get the average market return without having to guess which particular stock will win or lose.

Since we’re talking about setting up the best investments for the long run, the authors of "De hangmatbelegger" suggest a global index fund or a mix of regional index funds. This could be an ETF that tracks the MSCI World Index (covering thousands of stocks across the developed world) or a combination like an S&P 500 fund plus an European stock fund, etc. The key is diversification. You’re spreading your money worldwide. If Europe’s market is down one year, maybe the U.S. or Asia is up, and vice versa. Over time, you capture the overall growth of the global economy.

By investing globally, you also avoid a common pitfall: home bias. That’s when investors only invest in their home country’s stocks. Belgium has some strong companies, but it’s a small part of the world market. A globally diversified fund makes sure you don’t miss out on the growth of giant innovators elsewhere.

Why ETF investing is the ideal investment over the long run

One of the best investors in the world, Warren Buffet, famously gave asset allocation instructions for his estate for when he passes in his 2013 shareholder letter for his investment firm Berkshire Hathaway:

My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard’s.) I believe the trust’s long-term results from this policy will be superior to those attained by most investors – whether pension funds, institutions or individuals – who employ high-fee managers.

Here are some of the benefits of index investing, especially for someone in Belgium starting out:

Broad diversification

Index funds let you own “a little bit of everything.” For example, with a single world stock ETF, your money is invested in thousands of companies across the globe. This diversification means your risk is spread out. No single company or even single country can make or break your investment. Contrast this with buying a few individual stocks. If one company has a scandal or a bad year, your portfolio can suffer. With an index, other companies’ successes balance out the occasional failure. It’s the classic “don’t put all your eggs in one basket” wisdom, applied automatically.

It works on the long run

By matching the market, index funds have delivered solid growth. We noted 7-10% average annual returns for equities historically. While future returns aren’t guaranteed, investing in the broad market has a strong track record of building wealth. Crucially, these returns compound over time. This means you earn returns on your returns. For example, if you invest €1,000 and it grows 7% (€70) in a year, next year you’re investing on €1,070, so a 7% gain (~€75) is a bit larger. Over many years, compounding can lead to exponential growth. It’s why starting early is so powerful: the earlier you invest, the more years you give compounding to work its magic.

Low effort and low cost

One of the best parts of index investing is how simple it is once set up. You don’t need to constantly study financial reports or pick winners. The philosophy is often summed up as “set it and forget it.” Many index investors just contribute a set amount every month and check in occasionally. Additionally, index funds (especially ETFs) typically have very low fees. You might pay an expense ratio of 0.1% or 0.2% per year for a world ETF whereas an actively managed fund or certain investment products could charge 1% or more. Lower fees mean you keep more of your returns. And because index investing doesn’t require you to trade frequently, you also save on transaction costs and avoid mistakes that come from emotional trading.

Start small

You don’t need a fortune to start. Unlike real estate where you might need tens of thousands, you can often start investing in an index fund with just €50 or €100. Many apps allow fractional investing (buying part of a share of an ETF) or have no minimum beyond the price of one share. This means even if you’re a student or early in your career, you can begin investing now. And something is better than nothing. Even €50/month can grow substantially over time. It also builds the habit of investing, which will serve you well as your income grows.

Offers flexibility

If life happens and you need your money back, selling ETF shares is straightforward. You’ll typically get the cash from selling within a couple of days. There’s no lengthy lock-in (though, for long-term success, you want to avoid withdrawing unless necessary). Knowing that you could access your funds in an emergency gives peace of mind. It’s a flexibility that something like a pension fund (or real estate) doesn’t offer, as those often lock your money until retirement or until you find a buyer.

Tax advantages for Belgians investing in ETFs

Belgium has some investor-friendly tax rules for long-term investing. There are currently no capital gains (the profit you make when your stocks/funds increase in value) for stocks. This will be switched sometime in 2026 though with the new government. There is a special tax on certain funds (the Reynders tax) but as of now, pure equity funds avoid the 30% tax on bond interest gains.

Belgians who invest in accumulating stock ETFs (funds that reinvest dividends) won’t be taxed on growth. This favourable tax treatment means you keep more of your returns versus some other investments.

With all these benefits, index investing (especially via a global ETF) looks extremely compelling as a candidate for the a great investment for someone’s long-term goals. It provides the growth potential and beats the common pitfalls of the more traditional options we discussed.

Considerations of ETF investing

However, there are some considerations to take note of:

• Market fluctuations: the value of a stock index will go up and down. It can be scary to see your investment drop during a bad year. For example, global markets might drop 10% or 20% in a recession. However, history shows that after the drop, markets eventually recover to reach new highs (provided you stay invested and don’t sell in panic). The key is having the right mindset: treat investing as a long-term journey. If you’re investing for 20 years ahead, a dip this year is just a blip on the radar. In fact, downturns can be opportunities to invest more at lower prices (imagine stocks are “on sale”). A famous saying goes, “Time in the market beats timing the market.” Nobody can consistently predict short-term movements, so the best strategy is usually to keep investing through the ups and downs.
• Discipline required: Because index investing is so “hands-off,” the biggest challenge is often psychological. You need to stick with the plan. It might feel boring at times and that’s okay.

Other types of investments

Let's briefly look at a few other investments you might hear about from your friends or colleagues, and why they may or may not be "the best" for you:

Gold and commodities

Gold is often called a hedge against uncertainty. In times of crisis, gold prices can rise when stocks fall. Owning a bit of gold (or other commodities like silver, etc.) can diversify a portfolio. But over the very long term, gold mainly keeps its value rather than multiplies it. For example, €1 of gold 100 years ago might still have equivalent purchasing power today (which is good for preservation), but €1 in the stock market 100 years ago would be worth many times more now (which is growth). So, gold could be part of a diversified strategy but likely not the star of the show if growth is the objective. Additionally, gold doesn’t pay interest or dividends.

Cryptocurrencies

In recent years, Bitcoin and other cryptocurrencies have been touted as the investment of the future. It’s true that early investors in crypto saw massive gains, and crypto remains a high-risk, high-reward area. However, it is extremely volatile. What we mean by this is that there are huge price swings of 20-30% in a single month. There’s also a real possibility of large losses (as seen in 2018 or 2022 crashes). For a beginner who is just trying to get a foothold in investing, crypto is more of a speculative bet than a reliable long-term plan. A small amount (if you’re curious and financially secure enough to take big risks) is fine, but it’s not something you’d want to rely on for your retirement. For most poeple, crypto doesn’t fit the bill due to its unpredictability and lack of intrinsic value or regulation. Be cautious and make sure you fully understand the risks if you venture here:

Peer-to-peer lending (crowdlending)

This is where platforms (like Mozzeno in Belgium) let you lend money directly to individuals or small businesses, and you earn interest as they pay it back. It effectively turns you into a mini-bank. The potential returns are moderate. For instance, Mozzeno reports an average of around ~2.76% net annual return for investors on their platform. This is better than a savings account, and it can feel good to know you’re helping fund loans to others. However, the risks include borrowers defaulting (not repaying), and your money is tied up for the loan term. Crowdlending can be one of the diversified investments in your portfolio, but with ~2-3% returns, it likely won’t build wealth as fast as stocks. It also requires you to select loans or strategies on the platform, which adds a layer of effort.

Investing in yourself

One point you might see in some “best investment” lists (especially on personal development blogs and Instagram Reels) is that investing in your own skills or education is the best investment you can make. This isn’t about financial products, but rather spending money (or time) to improve your earning power and quality of life: like taking courses, learning new job skills, or even staying healthy. It’s worth mentioning, because if you increase your income through a better job or business, you’ll have more to invest. In a very real sense, you are your own greatest asset.

So, while we’re mainly talking about financial investments, don’t forget that paying for a degree, training, or learning about finance (like reading some books on the topic) can yield huge returns in the form of better opportunities and decisions down the road. It complements your financial investing by boosting what you can put in.

How to get started with ETF investing

By now, you may be convinced that owning a piece of the global stock market is a smart move. So how do you actually do it? The idea might sound complex, but it’s simpler than ever:

1. Ensure your basics are covered

Before investing, make sure you have an emergency fund (typically 3-6 months of living expenses) in a savings account. This is your safety net so that you won’t be forced to sell investments during an inconvenient time (like if you lose your job or have an unexpected expense). Once these bases are covered, you’re ready to invest surplus savings.

2. Choose a platform to invest with

You have two main routes:

• Broker: This is a DIY approach. Brokers like DEGIRO, Bolero, Keytrade, etc., allow Belgians to buy and sell stocks and ETFs on global exchanges. You’d open an account (usually an easy online process), deposit money, and then you can purchase the ETF of your choice (for example, a world index ETF). The broker will charge a small transaction fee per trade, but these are generally low-cost. The advantage of a broker is full control: you can pick any ETF or stock. The drawback is you need to make those decisions and maintain the portfolio.
• Investing app like Curvo: This is a more hands-off approach. With Curvo, you answer a few questions about your goals and risk tolerance, and we design a portfolio for you. These portfolios are based on index funds and manage it automatically for you and your goals. We handle things like rebalancing (keeping your investments in the right proportions over time) and are tax optimised. Curvo was built to solve this problem for Belgian investors. You pay a slightly higher fee for the convenience of using Curvo than doing it yourself but we simplify everything. This can be great if you don’t even want to choose which ETF to buy, or handle any trades yourself. It’s like having a “guided” investment experience.

Both routes can lead you to the same result: you end up owning a diversified set of index funds. If you enjoy learning and doing things yourself, a broker is fine. Importantly, make sure whichever platform you choose is reputable and regulated. All the ones mentioned above are, but if you find others, do a bit of homework to ensure they’re legitimate.

3. Choose your investments

If you go with Curvo, this is mostly done for you based on your goals. If you go with a broker, you need to pick the fund(s) to invest in. For a simple approach, you might choose one world stock ETF. For example, an ETF tracking the MSCI World index, or that tracks the FTSE All-World index. Some people choose two or three funds like one global stock fund and one global bond fund (to add a bit of stability). As a beginner with a long horizon, you might opt for mostly stocks since you can handle the ups and downs over time. But don’t overcomplicate at the start: the most important step is to start investing. You can always refine your strategy later as you learn more.

4. Invest regularly

One of the best habits is to treat investing like a monthly bill to yourself. For example, decide that every month when you get your salary, you’ll invest €100 (or whatever amount fits your budget). Automate it if possible. Some apps like Curvo let you set up automatic investments. This approach, known as euro-cost averaging, means you buy a bit each month regardless of the price. Sometimes you’ll buy when the market is high, sometimes when it’s low. Over time, this averages out and you remove the stress of trying to time the perfect moment. It also ensures you continuously build your investment without procrastination. Investing regularly harnesses the power of compounding we talked about. It’s like planting seeds every month; in a few years, you’ll have a whole garden of money trees growing.

5. Stay the course

After you’ve started, the key is to stick with it. It's easy to say but more difficult to stick with it. Treat this as a long-term commitment to yourself. You will see your account value go up and down; that’s normal. Avoid checking it too often (once a month is fine). Remember that you’re in it for the long run so the day-to-day or month-to-month fluctuations are just noise. If the markets drop significantly, resist the urge to panic sell. Instead, either hold tight or if you can, invest more at the new lower prices. Remind yourself of why you chose a solid long-term strategy in the first place. Historically, patient investors have been rewarded, whereas those who try to jump in and out often mistime and get lower returns.

Summary

We've explored several investment options available to Belgians, from traditional savings accounts and real estate to bonds, stocks, and alternative investments. The evidence points to globally diversified ETFs as a particularly strong choice for long-term wealth building, offering higher returns than savings accounts, lower barriers to entry than real estate, and less complexity than picking individual stocks.

This matters because many of us have been taught that saving is enough, but with inflation eating away at our purchasing power, we need our money to actually grow. A thoughtful investment strategy can help bridge the gap between what we can save and what we'll need for our future goals.

What should you do next? Consider how much you can commit to investing regularly. Even €50 or €100 per month can make a significant difference over time. Then decide whether you want to research and select ETFs yourself through a broker, or use a service like Curvo that builds and manages a portfolio tailored to your goals. The simplest approach is often the most effective: start investing regularly, stay the course through market fluctuations, and give yourself time to benefit from compound growth. Your journey to building wealth doesn't need to be complicated to be successful.