This article was published Delfi.lt
Lithuanians are particularly fond of investing their extra money in real estate: it's clear where you're investing, and the returns in recent years have certainly been encouraging. However, experienced investors are skeptical about this area and make no secret of the fact that there are much better alternatives today.
Changes in investing, the biggest breakthroughs and mistakes of recent years that can be costly were discussed at this year's Login conference by Darius Burdaitis, head of Citadele Bank's Lithuanian branch, Gustas Germanavičius, founder and ceo of InRento, and Rena Saribekian-Kinderė, co-founder of INWEST. They discussed changes in investing, the biggest breakthroughs in recent years, and the costly mistakes to avoid. They also shared practical advice relevant to both beginners and advanced investors.
Major breakthroughs in the world of investing
According to D. Burdaitis, he has been investing for 25 years. He recalls that his first investment were in real estate. "As a true Lithuanian, you invest in what seems eternal and stable," says D. Burdaitis. Later, he says, he began investing in stocks, investment funds, ETFs, and individual stocks. G. Germanavičius says that he has been investing for more than 15 years. However, he does not do so of his own accord. ‘Why do I say that it is not of my own accord? I did not choose investing; investing chose me. It just so happened that I inherited shares of bankrupted “Ūkio Bankas”a long time ago. And to this day, they show me in my online banking how things can turn out differently. And that beginning, let's say, was an immediate lesson," says the expert.
The third participant in the discussion, R. Saribekian-Kinderė, says she has been investing for 12 years. Her investment journey began with U.S. shares – direct investment in companies.
It is clear that all of the speakers have a wealth of experience that can be useful to others. The last few years have been particularly difficult for the stock markets – the pandemic, Russia's war in Ukraine, and Donald Trump's confusing and ever-changing customs policy.
R. Saribekian-Kinderė says that the main turning point was the changes in the U.S. when Donald Trump took office. The U.S., once an absolutely dominant and safe option, is now being questioned by investors.
"There is a saying that there are decades when nothing happens (as was the case with America's 10 years of dominance), and there are weeks when decades happen," says R. Saribekian-Kinderė. She adds that after such changes, investors finally opened their eyes and began to see something more than just the U.S. stock market.
However, experienced investors are not panicking about the chaos caused by Trump. G. Germanavičius says that everyone has to decide for themselves whether they are investing or trading. "When it comes to stocks, I invest. I simply set aside a certain amount every month and invest it," adding that the best results are achieved over a long period of time.
However, G. Germanavičius also adds EURIBOR changes to the major turning points of recent years. "For a long time, money was free in Europe. People, let's say, didn't even understand the concept of business borrowing, and consumers didn't understand the real cost of money. And now we are seeing a very big change in people's behavior when it comes to borrowing. Private debt, as an asset class, are growing rapidly, and people can earn significantly more attractive returns than they could 10 years ago," says G. Germanavičius.
According to D. Burdaitis, artificial intelligence (AI) will cause another breakthrough in the world of investing. He says that artificial intelligence will be used even more actively in the field of investing, and the tools will be available to ordinary investors. "The future is probably such that we have to think about how to invest cautiously, but not in individual things, but in something like ETFs and indices."
For her part, R. Saribekian-Kinderė says that anyone who has tried asking ChatGPT what to buy and sell now knows that you have to check the information provided by artificial intelligence, because what it provides is not necessarily true.
According to her, there are practically no tools that would help with investing today. However, there are funds that are "driven" by artificial intelligence. She says that the results of such investment funds lag behind the market. Nevertheless, she sees AI in investing as a coach or teacher—a tool that helps you understand the difference between stocks and bonds and answer questions.
R. Saribekian-Kinderė says that instead of asking ChatGPT questions and watching TikTok or listening to influencers who promise to earn you $100,000, you should do your homework, such as reading books about investing.
G. Germanavičius also does not take the current opportunities for investment seriously. According to him, investing should be viewed as a way of life. "We grow up, we have parents. We can listen to our parents' opinions, we can accept them, but we live our own lives. It's the same with investing: we can take advice from experts. But you will have to live with it later and automatically feel responsible for what you take on. That's why I'm a bit skeptical about all these decisions," says G. Germanavičius. However, he agrees with D. Burdaitis that AI can help with gathering information.
Trump – the major manipulator of stock markets
The most significant turning point in the market was associated with Trump and his policies. At the end of August, a U.S. federal court ruled that his tariff policy exceeded presidential authority. At the time of the discussion, the outcome of the court proceedings was still uncertain. Nevertheless, D. Burdaitis noted that Trump had a strong influence on the stock markets and that this influence remained consistent.
The stock market will continue to fluctuate, so D. Burdaitis says that it is important for each investor to decide for themselves how much risk they are willing to tolerate. "When everything was falling, I bought and invested even more, because I believe that in the long run, this turmoil will end and only the most patient will win," says the investor.
G. Germanavičius echoes this sentiment, saying that those who invest with a long-term strategy do not pay much attention to market fluctuations. "What defines successful investing? Yes, there is knowledge and education, but the most important thing is discipline. I take my strategy and stick to it. If your strategy is, 'OK, I'll invest in stocks because I want to build up my pension fund over 30 years,' is there really a big difference whether you buy a stock today at 5% higher or 5% lower price? In 30 years, it won't make much difference. And yes, stock markets always fluctuate, but in the long term, they grow," says our interlocutor.
He claims that the "panic factor" depends on the investor's profile: whether they are a long-term investor or a speculator. "I have never met a calm speculator. I think they shouldn't look for any kind of calm here. As for investors, everyone works according to their own discipline and strategy," says G. Germanavičius.
D. Burdaitis believes that the U.S. market will continue to be a good place to invest. European stocks, according to him, are undervalued, while Chinese company stocks remain low.
Gen Z – aggressive investors
G. Germanavičius says that if you don't make mistakes when investing, you may not learn anything. He says that young investors representing Gen Z are quite aggressive. "But in my opinion, Gen Z has to be super aggressive because they are young and can 'burn out' twice. In such cases, the lesson is more valuable than the result," says G. Germanavičius.
He himself believes that his mistake was being too conservative. His position has always been not to lose money at any cost. However, he now advises younger investors not to be afraid: invest small amounts, study your strategy, and act with discipline.
For his part, D. Burdaitis says that Gen Z are very aggressive investors and that people in general are investing too much in cryptocurrencies. "In the past, people would go to the bank to consult with specialists, professionals in their field. Now people watch YouTube, listen to TikTok and influencers. They see one nice story about how someone earned 40% in a month, and then everyone rushes to do the same, rushing to invest. It seems that this story will repeat itself again. In fact, it won't. There will be a lot of burns, a lot of losses," says D. Burdaitis.
He is pleased that there are more and more reliable educational platforms. He adds that Gen Z will need to learn patience and clearly identify what they are actually aiming for when investing.
R. Saribekian-Kinderė says that it is not only Gen Z that is at risk, but men in general, especially unmarried men. "Women, if your husbands say they are going to buy a couple of screens from Amazon and start 'trading' more income for the family, make a fuss now, because later it will be too late," she says.
According to her, women outperform men in the field of investment. "Why? Because they consult more with professionals, they do their homework better, and they are less emotional when it comes to investing," says R. Saribekian-Kinderė, advising everyone to invest like women.
Investing in real estate
For many years, Lithuanians have liked to invest their money in real estate. However, D. Burdaitis says that investing in real estate today is a lot of work: you have to take care of tenants.
G. Germanavičius agrees that investing in real estate requires too much work compared to the return on investment.
"Real estate as an asset class is very deceptive because many retail investors think like, okay, I bought an apartment, I furnished it, so I can already consider myself a developer—I can do this and make a living from it. But the reality is that many people underestimate the complexity. This is often the case in life, where things that seem simplest at first are the most complicated," says G. Germanavičius.
According to him, if you want to turn real estate into a source of income, that's great. "But if you are an inexperienced investor, have extra money and want to invest, I would say – leave it to the professionals," says G. Germanavičius, adding that nowadays there are many other tools that allow you to put your money to work.
For her part, R. Saribekian-Kinderė says that she has never liked investing in real estate. She says that her husband invests – tenants are constantly calling, complaining about this or that. "I don't understand why anyone would want to do that. You can invest in real estate through the markets and not worry about it," says the investor.
According to her, there is a legacy of investing in real estate in Lithuania because we can clearly see our investment and its growth. R. Saribekian-Kinderė agrees that real estate prices have indeed risen in recent years, but since we have a neighbor like Russia, prices may not continue to rise. We also run the risk that money from abroad will no longer flow into real estate.
However, G. Germanavičius has some advice for those who may not listen to advice and invest in real estate themselves: structure rental payments for every 4 weeks instead of every calendar month. "At the end of the year, you will have 13 months," says G. Germanavičius.
About InRento
InRento is the largest licensed buy-to-let crowdfunding platform in the European Union, operating since 2020.
European FinTech Awards recognised the company as the leading financing technology in Europe in 2025. In 2024 and 2022, InRento was recognised as the best investment technology in Europe.
InRento's activities are licensed and supervised by the Bank of Lithuania. Investing involves the risk of losing some or all of the amount invested, so it is recommended to diversify your investments and evaluate them responsibly.
