{"id":2796,"date":"2026-01-09T22:24:27","date_gmt":"2026-01-09T22:24:27","guid":{"rendered":"https:\/\/fundguidr.ee\/?p=2796"},"modified":"2026-01-03T12:33:38","modified_gmt":"2026-01-03T12:33:38","slug":"baltic-borse-tallinn-bors-which-companies","status":"publish","type":"post","link":"https:\/\/fundguidr.ee\/en\/platforms-and-workpieces\/baltic-borse-tallinn-bors-which-companies\/","title":{"rendered":"The Baltic Exchange: what and why to buy on Tallinn Stock Exchange in 2026?"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#f6f8ff&#8221; background_image=&#8221;https:\/\/fundguidr.ee\/wp-content\/uploads\/2022\/11\/BG-28.png&#8221; background_size=&#8221;initial&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; width=&#8221;90%&#8221; custom_css_main_element=&#8221;position: unset;&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; custom_css_main_element=&#8221;position: unset;&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_post_title meta=&#8221;off&#8221; featured_image=&#8221;off&#8221; _builder_version=&#8221;4.27.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; theme_builder_area=&#8221;post_content&#8221; specialty=&#8221;on&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;1_3&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_code _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; theme_builder_area=&#8221;post_content&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<div id=\"fundguidr-toc-wrapper\" style=\"width: 100%; clear: both;\"><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->    <\/p>\n<style><!-- [et_pb_line_break_holder] -->        \/* --- 1. 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TOGGLE BUTTON CLICK<!-- [et_pb_line_break_holder] -->        $toggleBtn.on('click', function() {<!-- [et_pb_line_break_holder] -->            $tocList.slideToggle(300, function() {<!-- [et_pb_line_break_holder] -->                \/\/ Update Icon based on visibility<!-- [et_pb_line_break_holder] -->                if ($tocList.is(':visible')) {<!-- [et_pb_line_break_holder] -->                    $toggleIcon.html('&minus;'); \/\/ Minus<!-- [et_pb_line_break_holder] -->                } else {<!-- [et_pb_line_break_holder] -->                    $toggleIcon.html('&#43;');   \/\/ Plus<!-- [et_pb_line_break_holder] -->                }<!-- [et_pb_line_break_holder] -->            });<!-- [et_pb_line_break_holder] -->        });<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->    });<!-- [et_pb_line_break_holder] -->    <\/script><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] --><\/div>\n<p>[\/et_pb_code][\/et_pb_column][et_pb_column type=&#8221;2_3&#8243; specialty_columns=&#8221;2&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_row_inner module_id=&#8221;aktsia5&#8243; _builder_version=&#8221;4.27.2&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px||false|false&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column_inner _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; saved_specialty_column_type=&#8221;2_3&#8243; theme_builder_area=&#8221;post_content&#8221;][et_pb_image src=&#8221;https:\/\/fundguidr.ee\/wp-content\/uploads\/2026\/01\/balti-bors-scaled.jpg&#8221; alt=&#8221;balti b\u00f6rs&#8221; title_text=&#8221;balti bo\u0308rs&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; max_width=&#8221;62%&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_image][et_pb_blurb content_max_width=&#8221;100%&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; header_font=&#8221;Nunito|700|||||||&#8221; header_text_color=&#8221;#171717&#8243; header_font_size=&#8221;22px&#8221; body_font=&#8221;Poppins||||||||&#8221; body_text_color=&#8221;#171717&#8243; custom_margin=&#8221;||25px||false|false&#8221; hover_enabled=&#8221;0&#8243; text_orientation_tablet=&#8221;center&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|tablet&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Kui r\u00e4\u00e4kida investeerimisest, l\u00e4heb enamiku inimeste pilk kohe ookeani taha. R\u00e4\u00e4gitakse <a href=\"https:\/\/fundguidr.ee\/uncategorized\/nvidia-kuulsaimad-aktsiad\/\">Nvidiast<\/a>, Teslast, Microsoftist ja tehisintellekti revolutsioonist. See on loomulik \u2013 need on ettev\u00f5tted, mis muudavad maailma ning mida kajastatakse uudistes enim.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Kuid samal ajal, kui investorid jahivad USA tehnoloogiasektoris j\u00e4rgmist &#8220;suurt asja&#8221;, vedeleb raha s\u00f5na otseses m\u00f5ttes meie jalge ees.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Tallinna, Riia ja Vilniuse b\u00f6rsid (\u00fchiselt <a href=\"https:\/\/nasdaqbaltic.com\/\" target=\"_blank\" rel=\"noopener\">Nasdaq Baltic<\/a>) on Euroopa kontekstis v\u00e4ikesed ja sageli t\u00e4helepanuta j\u00e4etud. V\u00e4lisinvestorite jaoks on see &#8220;\u00e4\u00e4remaa&#8221;. Kuid kohaliku investori jaoks on see <\/span><b>kullaauk<\/b><span style=\"font-weight: 400;\">, eriti kui eesm\u00e4rgiks on passiivne sissetulek ehk dividendid.<\/span><\/p>\n<ol style=\"text-align: left;\" start=\"2026\">\n<li><span style=\"font-weight: 400;\"> aasta on Balti b\u00f6rsi jaoks m\u00e4rgiline. Majandus on v\u00e4ljumas paari aasta tagusest jahtumisest, intressim\u00e4\u00e4rad on normaliseerumas ja kohalikud ettev\u00f5tted on t\u00f5estanud oma vastupidavust. Selles artiklis vaatame, miks on &#8220;kodub\u00f6rs&#8221; just praegu atraktiivne, millised sektorid on kuumad ja milliseid konkreetseid ettev\u00f5tteid tasub oma radaril hoida.<\/span><\/li>\n<\/ol>\n<h2 style=\"text-align: left;\"><b>Miks \u00fcldse vaadata Balti b\u00f6rsi poole?<\/b><\/h2>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Enne aktsiate juurde minekut, purustame m\u00fc\u00fcdi, et &#8220;Eesti b\u00f6rsil ei toimu midagi&#8221;. Siin on kolm p\u00f5hjust, miks v\u00e4hemalt 10-20% sinu portfellist v\u00f5iks asuda Baltikumis:<\/span><\/p>\n<h3 style=\"text-align: left;\"><b>1. Maailmatasemel dividenditootlus<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">USA S&amp;P 500 indeksi keskmine dividenditootlus on ajalooliselt olnud 1,5\u20132% ringis. Paljud tehnoloogiafirmad ei maksa \u00fcldse dividende. Balti b\u00f6rsi p\u00f5hinimekirja ettev\u00f5tted pakuvad aga tihti <\/span><b>5\u20138% dividenditootlust<\/b><span style=\"font-weight: 400;\">. See t\u00e4hendab, et ainu\u00fcksi aktsiat omades (ilma et hind t\u00f5useks), teenid sa m\u00e4rkimisv\u00e4\u00e4rse summa tagasi. See sobib ideaalselt investorile, kes soovib investeeringutelt reaalset rahavoogu, et maksta arveid v\u00f5i reinvesteerida.<\/span><\/p>\n<h3 style=\"text-align: left;\"><b>2. Koduv\u00e4ljaku eelis ja &#8220;Skin in the game&#8221;<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Peter Lynch, legendaarne investor, soovitas investeerida sellesse, mida sa tunned. Balti b\u00f6rsil on see lihtne. Sa ostad piima Selverist (Tallinna Kaubamaja Grupp). Sa kasutad LHV panka. Sinu elekter tuleb Enefit Greeni tuulepargist ja vesi Tallinna Veest. Sa n\u00e4ed oma silmaga, kas poes on j\u00e4rjekorrad v\u00f5i kas sadamad on laevasid t\u00e4is. See annab sulle infotehnoloogilise eelise Wall Streeti anal\u00fc\u00fctiku ees, kes pole kunagi Eestis k\u00e4inud.<\/span><\/p>\n<h3 style=\"text-align: left;\"><b>3. Olematud teenustasud<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Enamik Eesti suurpanku (LHV, Swedbank, SEB) on teinud Balti aktsiatega kauplemise <\/span><b>teenustasuta<\/b><span style=\"font-weight: 400;\"> v\u00f5i v\u00e4ga soodsaks. See on tohutu eelis, eriti alustajale. Kui sa tahad osta USA aktsiat 100 euro eest, v\u00f5ib teenustasu (minimaalselt nt 9-15 eurot pluss valuutavahetus) s\u00fc\u00fca \u00e4ra 10-15% sinu rahast juba stardis. Balti aktsiat v\u00f5id osta kasv\u00f5i 10 euro eest ja sa ei maksa pangale sentigi komisjonitasu. See v\u00f5imaldab hajutada oste ajas (osta iga kuu natuke).<\/span><\/p>\n<h2 style=\"text-align: left;\"><b>Sektorid ja p\u00e4rlid: mida j\u00e4lgida 2026. aastal?<\/b><\/h2>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Vaatame kolme peamist sektorit, mis moodustavad Balti b\u00f6rsi selgroo.<\/span><\/p>\n<h3 style=\"text-align: left;\"><b>1. Pangandus: majanduse vereringe<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Pangad on olnud viimastel aastatel Balti b\u00f6rsi absoluutsed staarid. Kuigi <a href=\"https:\/\/fundguidr.ee\/uncategorized\/mis-on-euribor-kuidas-see-mojutab\/\">EURIBOR<\/a> on 2026. aastaks langenud tipust allapoole, on pankade kasumlikkus endiselt tugev, sest laenun\u00f5udlus taastub koos majanduskasvuga.<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LHV Group (LHV1T):<\/b><span style=\"font-weight: 400;\"> See pole lihtsalt pank, see on Eesti rahvaaktsia. LHV on kasvulugu. Isegi kui nad on juba suured, leiavad nad uusi ni\u0161\u0161e (\u00dchendkuningriigi panganduslitsents, pensionifondide mahud).<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> LHV on haruldane kombinatsioon kasvuaktsiast ja dividendiaktsiast. Nende P\/E suhtarv on tavaliselt k\u00f5rgem kui konkurentidel (st aktsia on kallim), aga see peegeldab investorite usku juhtkonda.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Coop Pank (CPA1T):<\/b><span style=\"font-weight: 400;\"> &#8220;Kodumaine ja lihtne&#8221;. Coop Pank on suunatud jae- ja v\u00e4ike\u00e4riklindile v\u00e4ljaspool Tallinna &#8220;kuldset ringi&#8221;. Nende strateegia integreerida pangandus ja kaubandus (Coopi poed) t\u00f6\u00f6tab.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> Agressiivne turuosa haaramine suurte Rootsi pankade k\u00e4est j\u00e4tkub.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><a href=\"https:\/\/e.sb.lt\/public\/login\" target=\"_blank\" rel=\"noopener\">\u0160iauli\u0173 bankas (SAB1L)<\/a>:<\/b><span style=\"font-weight: 400;\"> Leedu p\u00e4rl. Tihti eba\u00f5iglaselt t\u00e4helepanuta j\u00e4etud, kuna tegemist on Leedu ettev\u00f5ttega. Ajalooliselt \u00fcks parima dividenditootlusega panku Baltikumis.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> Kui otsid odavat v\u00e4\u00e4rtust (madal P\/E) ja k\u00f5rget dividendi, on see sageli parim valik sektoris.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: left;\"><b>2026 trend:<\/b><span style=\"font-weight: 400;\"> J\u00e4lgi, kuidas pangad kohanevad madalamate intressim\u00e4\u00e4radega. V\u00f5idavad need, kes suudavad kasvatada laenumahtusid (&#8220;maht kompenseerib marginaali&#8221;).<\/span><\/p>\n<h3 style=\"text-align: left;\"><b>2. Energeetika ja kommunaalteenused: Igav on hea<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">See sektor on m\u00f5eldud neile, kes tahavad \u00f6\u00f6sel rahulikult magada. Inimesed vajavad elektrit ja vett ka siis, kui majanduses on kriis.<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Enefit Green (EGR1T):<\/b><span style=\"font-weight: 400;\"> Taastuvenergia hiiglane. P\u00e4rast IPO-j\u00e4rgset eufooriat ja sellele j\u00e4rgnenud kainestust (k\u00f5rged intressid tegid uute tuuleparkide ehitamise kalliks), on 2026. aastaks pilt selginenud.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> Rohep\u00f6\u00f6re ei ole peatunud. Enefitil on t\u00f6\u00f6s uued pargid, mis hakkavad n\u00fc\u00fcd, madalamate intresside keskkonnas, paremat kasumlikkust n\u00e4itama. See on pikaajaline panus puhtale energiale.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Ignitis (IGN1L):<\/b><span style=\"font-weight: 400;\"> Leedu energiahiid. Paljud Eesti investorid eelistavad Ignitist Enefitile just stabiilsuse ja v\u00e4ga selge dividendipoliitika t\u00f5ttu. Nad on regioonis v\u00e4ga tugevalt kanda kinnitanud.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Tallinna Vesi (TVEAT):<\/b><span style=\"font-weight: 400;\"> B\u00f6rsi k\u00f5ige igavam aktsia \u2013 ja see on kompliment. Stabiilne rahavoog, stabiilne dividend. Ei paku suurt kasvu, aga on suurep\u00e4rane &#8220;pensionisammas&#8221; ja inflatsioonikaitse (vee hinda korrigeeritakse vastavalt kuludele).<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: left;\"><b>3. Kaubandus ja kinnisvara: tarbija tagasitulek<\/b><\/h3>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Inflatsioon on kontrolli all ja tarbijate ostuj\u00f5ud 2026. aastal kasvab. See on hea uudis kaupmeestele.<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Tallinna Kaubamaja Grupp (TKM1T):<\/b><span style=\"font-weight: 400;\"> Eesti dividendi-aristokraat. Nad on maksnud dividende igal aastal, isegi kriiside ajal. Gruppi kuuluvad Kaubamaja, Selver, autokeskused (KIA) ja kinnisvara.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> V\u00e4ga h\u00e4sti juhitud ettev\u00f5te. Autokaubandus on ts\u00fckliline, kuid toidukaubandus (Selver) on stabiilne vundament. Nende dividenditootlus on peaaegu alati atraktiivne.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Kinnisvarafondid (EFTEN jms):<\/b><span style=\"font-weight: 400;\"> B\u00f6rsil on mitmeid kinnisvarafonde (nt EfTEN Real Estate Fund). Kuna intressim\u00e4\u00e4rad langevad, v\u00e4heneb nende laenukulu ja t\u00f5useb kinnisvara v\u00e4\u00e4rtus. 2026 v\u00f5ib olla aasta, kus kinnisvarasektor hakkab uuesti s\u00e4rama.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: left;\"><b>&#8220;Langenud inglid&#8221; ja eriolukorrad<\/b><\/h2>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">M\u00f5nikord peitub suurim tulu seal, kus teised n\u00e4evad hirmu.<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Tallink Grupp (TAL1T):<\/b><span style=\"font-weight: 400;\"> Laevandushiid sai r\u00e4sida Covidist ja geopoliitikast. Kuid L\u00e4\u00e4nemeri ei ole kuhugi kadunud ja inimesed tahavad endiselt reisida. Ettev\u00f5te on teinud suurt t\u00f6\u00f6d v\u00f5lakoorma v\u00e4hendamisel. Kui nad suudavad taastada stabiilse dividendi, on aktsia hind potentsiaalselt alahinnatud.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>DelfinGroup (DGR1R):<\/b><span style=\"font-weight: 400;\"> L\u00e4ti finantsteenuste ettev\u00f5te (pandimajad, v\u00e4ikelaenud). V\u00e4ga k\u00f5rge dividenditootlusega, kuid k\u00f5rgema riskiga \u00e4rimudel. Sobib investorile, kes julgeb v\u00f5tta riske L\u00e4ti turul.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><b>Balti turu &#8220;Varjuk\u00fclg&#8221;: likviidsus<\/b><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">K\u00f5ik ei ole roosiline. Balti b\u00f6rsil on \u00fcks suur miinus, millest algajad tihti k\u00f5rvetada saavad. See on <\/span><b>likviidsus<\/b><span style=\"font-weight: 400;\"> ehk kaubeldavus.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">V\u00f5rdleme:<\/span><\/p>\n<ul style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Kui sa tahad m\u00fc\u00fca Apple&#8217;i aktsiaid 1 miljoni euro eest, toimub tehing millisekundiga ja hind ei muutu.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Kui sa tahad m\u00fc\u00fca Balti b\u00f6rsi v\u00e4ikeettev\u00f5tte aktsiaid 10 000 euro eest, v\u00f5id sa avastada, et ostjaid lihtsalt ei ole. Et aktsiatest lahti saada, pead hinda langetama, mis viib turuhinna alla.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: left;\"><b>Mida see t\u00e4hendab sinu jaoks?<\/b><span style=\"font-weight: 400;\"> Balti aktsiad ei sobi &#8220;p\u00e4evakauplemiseks&#8221; (day trading). Need on instrumendid, mida ostetakse pikaajalise plaaniga (&#8220;Osta ja hoia&#8221;). Sa pead olema valmis hoidma neid aastaid. Kui sul on vaja raha kiiresti (n\u00e4dala jooksul) k\u00e4tte saada, v\u00f5ib see olla probleemne v\u00f5i kulukas, eriti v\u00e4iksemate ettev\u00f5tete puhul (First North nimekiri). P\u00f5hinimekirja (LHV, Kaubamaja, Enefit) puhul on likviidsus jaeinvestori jaoks siiski piisav.<\/span><\/p>\n<h2 style=\"text-align: left;\"><b>Kuidas maksustada Balti dividende?<\/b><\/h2>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Eelmises artiklis r\u00e4\u00e4kisime Investeerimiskontost. Balti aktsiate puhul on olukord veidi n\u00fcansirikkam.<\/span><\/p>\n<ol style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Eesti ettev\u00f5tted (LHV, Kaubamaja, Enefit):<\/b><span style=\"font-weight: 400;\"> Ettev\u00f5te peab tulumaksu (tavaliselt 22% v\u00f5i 14% regulaarsetelt dividendidelt) ise kinni. Sinu pangakontole laekub netosumma.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Investeerimiskonto kasutajale:<\/span><\/i><span style=\"font-weight: 400;\"> Kuna tulumaks on juba makstud, ei pea sa seda raha uuesti maksustama, kui selle v\u00e4lja v\u00f5tad. Kuid sa ei saa ka enammakstud maksu tagasi. See on &#8220;maksuvaba tulu&#8221;, mida v\u00f5id tarbimisse v\u00f5tta kohe.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Leedu ja L\u00e4ti ettev\u00f5tted (Ignitis, \u0160iauliai, DelfinGroup):<\/b><span style=\"font-weight: 400;\"> Siin tuleb olla t\u00e4helepanelik. L\u00e4ti ja Leedu peavad kinni oma riigi tulumaksu (nt L\u00e4tis 20%, Leedus 15%). Eesti residentidele kehtib topeltmaksustamise v\u00e4ltimise leping. \u00dcldjuhul laekub raha kontole ja kui investeerid eraisikuna (tavaline konto), saad v\u00e4lisriigis makstud maksu Eestis arvesse v\u00f5tta. Investeerimiskonto puhul on see keerulisem ja v\u00f5ib tekkida topeltmaksustamise oht tulevikus v\u00e4ljamaksete tegemisel. <\/span><b>Soovitus:<\/b><span style=\"font-weight: 400;\"> L\u00e4ti\/Leedu aktsiaid on sageli lihtsam hoida tavalisel kontol v\u00f5i III sambas, et v\u00e4ltida liigset b\u00fcrokraatiat.<\/span><\/li>\n<\/ol>\n<h2 style=\"text-align: left;\"><b>Kokkuv\u00f5te: sinu Balti portfell 2026<\/b><\/h2>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Balti b\u00f6rs ei tee sind rikkaks \u00fcle\u00f6\u00f6. Siin ei liigu aktsiad 20% p\u00e4evas \u00fcles-alla nagu kr\u00fcptoturul. Aga see ongi selle tugevus. See on <\/span><b>rikkaks saamine aeglaselt ja kindlalt<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Sinu strateegia Balti b\u00f6rsil v\u00f5iks olla j\u00e4rgmine:<\/span><\/p>\n<ol style=\"text-align: left;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Vali kvaliteeti:<\/b><span style=\"font-weight: 400;\"> Keskendu ettev\u00f5tetele, mis on turul olnud aastaid ja maksavad dividende (Pangad, Kaubamaja, Vesi).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reinvesteeri:<\/b><span style=\"font-weight: 400;\"> Kuna teenustasusid pole, suuna laekunud dividendid kohe uute aktsiate ostmiseks tagasi. Loo oma &#8220;lumepall&#8221;.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Ole kannatlik:<\/b><span style=\"font-weight: 400;\"> \u00c4ra lase end h\u00e4irida geopoliitilistest uudistest. Balti ettev\u00f5tted on harjunud siinses keskkonnas opereerima.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Hajuta:<\/b><span style=\"font-weight: 400;\"> \u00c4ra osta ainult \u00fchte panka. Osta panka, energiat ja kaubandust.<\/span><\/li>\n<\/ol>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Tallinna b\u00f6rs on suurep\u00e4rane koht, kus \u00f5ppida investeerimist, tunnetada turu ps\u00fchholoogiat ja teenida samal ajal korralikku passiivset tulu. Nagu vanas\u00f5na \u00fctleb: &#8220;Kaugelt toodud \u00f5un on ehk ilusam, aga oma aia \u00f5un on magusam.&#8221;<\/span><\/p>\n<p>[\/et_pb_blurb][et_pb_image src=&#8221;https:\/\/images.pexels.com\/photos\/3224113\/pexels-photo-3224113.jpeg?_gl=1*1gnvy57*_ga*NjAzNjU3MTIuMTc2NzMwMzAzOA..*_ga_8JE65Q40S6*czE3NjczMDMwMzgkbzEkZzEkdDE3NjczMDYyMzUkajU5JGwwJGgw&#8221; alt=&#8221;fintech&#8221; title_text=&#8221;fintech&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; max_width=&#8221;51%&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_image][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kui r\u00e4\u00e4kida investeerimisest, l\u00e4heb enamiku inimeste pilk kohe ookeani taha. R\u00e4\u00e4gitakse Nvidiast, Teslast, Microsoftist ja tehisintellekti revolutsioonist. See on loomulik \u2013 need on ettev\u00f5tted, mis muudavad maailma ning mida kajastatakse uudistes enim. Kuid samal ajal, kui investorid jahivad USA tehnoloogiasektoris j\u00e4rgmist &#8220;suurt asja&#8221;, vedeleb raha s\u00f5na otseses m\u00f5ttes meie jalge ees. Tallinna, Riia ja Vilniuse [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2800,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"<!-- wp:divi\/placeholder -->\r\n<p>[et_pb_section fb_built=\"1\" _builder_version=\"4.19.0\" _module_preset=\"default\" background_color=\"#f6f8ff\" background_image=\"https:\/\/fundguidr.ee\/wp-content\/uploads\/2022\/11\/BG-28.png\" background_size=\"initial\" locked=\"off\" global_colors_info=\"{}\"][et_pb_row _builder_version=\"4.19.0\" _module_preset=\"default\" width=\"90%\" custom_css_main_element=\"position: unset;\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.19.0\" _module_preset=\"default\" custom_css_main_element=\"position: unset;\" global_colors_info=\"{}\"][et_pb_post_title meta=\"off\" featured_image=\"off\" _builder_version=\"4.27.2\" _module_preset=\"default\" global_colors_info=\"{}\"][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.2\" _module_preset=\"default\" background_color=\"#FFFFFF\" global_colors_info=\"{}\"][et_pb_row module_id=\"aktsia5\" _builder_version=\"4.27.2\" _module_preset=\"default\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.19.0\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_image src=\"https:\/\/fundguidr.ee\/wp-content\/uploads\/2026\/01\/balti-bors-scaled.jpg\" alt=\"balti b\u00f6rs\" title_text=\"balti bo\u0308rs\" _builder_version=\"4.27.4\" _module_preset=\"default\" max_width=\"62%\" hover_enabled=\"0\" global_colors_info=\"{}\" sticky_enabled=\"0\"][\/et_pb_image][et_pb_blurb content_max_width=\"100%\" _builder_version=\"4.27.4\" _module_preset=\"default\" header_font=\"Nunito|700|||||||\" header_text_color=\"#171717\" header_font_size=\"22px\" body_font=\"Poppins||||||||\" body_text_color=\"#171717\" custom_margin=\"||25px||false|false\" text_orientation_tablet=\"center\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|tablet\" global_colors_info=\"{}\"]<\/p>\r\n<p><span style=\"font-weight: 400;\">Kui r\u00e4\u00e4kida investeerimisest, l\u00e4heb enamiku inimeste pilk kohe ookeani taha. R\u00e4\u00e4gitakse <a href=\"https:\/\/fundguidr.ee\/uncategorized\/nvidia-kuulsaimad-aktsiad\/\">Nvidiast<\/a>, Teslast, Microsoftist ja tehisintellekti revolutsioonist. See on loomulik \u2013 need on ettev\u00f5tted, mis muudavad maailma ning mida kajastatakse uudistes enim.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">Kuid samal ajal, kui investorid jahivad USA tehnoloogiasektoris j\u00e4rgmist \"suurt asja\", vedeleb raha s\u00f5na otseses m\u00f5ttes meie jalge ees.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">Tallinna, Riia ja Vilniuse b\u00f6rsid (\u00fchiselt <a href=\"https:\/\/nasdaqbaltic.com\/\">Nasdaq Baltic<\/a>) on Euroopa kontekstis v\u00e4ikesed ja sageli t\u00e4helepanuta j\u00e4etud. V\u00e4lisinvestorite jaoks on see \"\u00e4\u00e4remaa\". Kuid kohaliku investori jaoks on see <\/span><b>kullaauk<\/b><span style=\"font-weight: 400;\">, eriti kui eesm\u00e4rgiks on passiivne sissetulek ehk dividendid.<\/span><\/p>\r\n<ol start=\"2026\">\r\n<li><span style=\"font-weight: 400;\"> aasta on Balti b\u00f6rsi jaoks m\u00e4rgiline. Majandus on v\u00e4ljumas paari aasta tagusest jahtumisest, intressim\u00e4\u00e4rad on normaliseerumas ja kohalikud ettev\u00f5tted on t\u00f5estanud oma vastupidavust. Selles artiklis vaatame, miks on \"kodub\u00f6rs\" just praegu atraktiivne, millised sektorid on kuumad ja milliseid konkreetseid ettev\u00f5tteid tasub oma radaril hoida.<\/span><\/li>\r\n<\/ol>\r\n<h2><b>Miks \u00fcldse vaadata Balti b\u00f6rsi poole?<\/b><\/h2>\r\n<p><span style=\"font-weight: 400;\">Enne aktsiate juurde minekut, purustame m\u00fc\u00fcdi, et \"Eesti b\u00f6rsil ei toimu midagi\". Siin on kolm p\u00f5hjust, miks v\u00e4hemalt 10-20% sinu portfellist v\u00f5iks asuda Baltikumis:<\/span><\/p>\r\n<h3><b>1. Maailmatasemel dividenditootlus<\/b><\/h3>\r\n<p><span style=\"font-weight: 400;\">USA S&P 500 indeksi keskmine dividenditootlus on ajalooliselt olnud 1,5\u20132% ringis. Paljud tehnoloogiafirmad ei maksa \u00fcldse dividende. Balti b\u00f6rsi p\u00f5hinimekirja ettev\u00f5tted pakuvad aga tihti <\/span><b>5\u20138% dividenditootlust<\/b><span style=\"font-weight: 400;\">. See t\u00e4hendab, et ainu\u00fcksi aktsiat omades (ilma et hind t\u00f5useks), teenid sa m\u00e4rkimisv\u00e4\u00e4rse summa tagasi. See sobib ideaalselt investorile, kes soovib investeeringutelt reaalset rahavoogu, et maksta arveid v\u00f5i reinvesteerida.<\/span><\/p>\r\n<h3><b>2. Koduv\u00e4ljaku eelis ja \"Skin in the game\"<\/b><\/h3>\r\n<p><span style=\"font-weight: 400;\">Peter Lynch, legendaarne investor, soovitas investeerida sellesse, mida sa tunned. Balti b\u00f6rsil on see lihtne. Sa ostad piima Selverist (Tallinna Kaubamaja Grupp). Sa kasutad LHV panka. Sinu elekter tuleb Enefit Greeni tuulepargist ja vesi Tallinna Veest. Sa n\u00e4ed oma silmaga, kas poes on j\u00e4rjekorrad v\u00f5i kas sadamad on laevasid t\u00e4is. See annab sulle infotehnoloogilise eelise Wall Streeti anal\u00fc\u00fctiku ees, kes pole kunagi Eestis k\u00e4inud.<\/span><\/p>\r\n<h3><b>3. Olematud teenustasud<\/b><\/h3>\r\n<p><span style=\"font-weight: 400;\">Enamik Eesti suurpanku (LHV, Swedbank, SEB) on teinud Balti aktsiatega kauplemise <\/span><b>teenustasuta<\/b><span style=\"font-weight: 400;\"> v\u00f5i v\u00e4ga soodsaks. See on tohutu eelis, eriti alustajale. Kui sa tahad osta USA aktsiat 100 euro eest, v\u00f5ib teenustasu (minimaalselt nt 9-15 eurot pluss valuutavahetus) s\u00fc\u00fca \u00e4ra 10-15% sinu rahast juba stardis. Balti aktsiat v\u00f5id osta kasv\u00f5i 10 euro eest ja sa ei maksa pangale sentigi komisjonitasu. See v\u00f5imaldab hajutada oste ajas (osta iga kuu natuke).<\/span><\/p>\r\n<h2><b>Sektorid ja p\u00e4rlid: mida j\u00e4lgida 2026. aastal?<\/b><\/h2>\r\n<p><span style=\"font-weight: 400;\">Vaatame kolme peamist sektorit, mis moodustavad Balti b\u00f6rsi selgroo.<\/span><\/p>\r\n<h3><b>1. Pangandus: majanduse vereringe<\/b><\/h3>\r\n<p><span style=\"font-weight: 400;\">Pangad on olnud viimastel aastatel Balti b\u00f6rsi absoluutsed staarid. Kuigi <a href=\"https:\/\/fundguidr.ee\/uncategorized\/mis-on-euribor-kuidas-see-mojutab\/\">EURIBOR<\/a> on 2026. aastaks langenud tipust allapoole, on pankade kasumlikkus endiselt tugev, sest laenun\u00f5udlus taastub koos majanduskasvuga.<\/span><\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>LHV Group (LHV1T):<\/b><span style=\"font-weight: 400;\"> See pole lihtsalt pank, see on Eesti rahvaaktsia. LHV on kasvulugu. Isegi kui nad on juba suured, leiavad nad uusi ni\u0161\u0161e (\u00dchendkuningriigi panganduslitsents, pensionifondide mahud).<\/span>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> LHV on haruldane kombinatsioon kasvuaktsiast ja dividendiaktsiast. Nende P\/E suhtarv on tavaliselt k\u00f5rgem kui konkurentidel (st aktsia on kallim), aga see peegeldab investorite usku juhtkonda.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Coop Pank (CPA1T):<\/b><span style=\"font-weight: 400;\"> \"Kodumaine ja lihtne\". Coop Pank on suunatud jae- ja v\u00e4ike\u00e4riklindile v\u00e4ljaspool Tallinna \"kuldset ringi\". Nende strateegia integreerida pangandus ja kaubandus (Coopi poed) t\u00f6\u00f6tab.<\/span>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> Agressiivne turuosa haaramine suurte Rootsi pankade k\u00e4est j\u00e4tkub.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><a href=\"https:\/\/e.sb.lt\/public\/login\">\u0160iauli\u0173 bankas (SAB1L)<\/a>:<\/b><span style=\"font-weight: 400;\"> Leedu p\u00e4rl. Tihti eba\u00f5iglaselt t\u00e4helepanuta j\u00e4etud, kuna tegemist on Leedu ettev\u00f5ttega. Ajalooliselt \u00fcks parima dividenditootlusega panku Baltikumis.<\/span>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> Kui otsid odavat v\u00e4\u00e4rtust (madal P\/E) ja k\u00f5rget dividendi, on see sageli parim valik sektoris.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<p><b>2026 trend:<\/b><span style=\"font-weight: 400;\"> J\u00e4lgi, kuidas pangad kohanevad madalamate intressim\u00e4\u00e4radega. V\u00f5idavad need, kes suudavad kasvatada laenumahtusid (\"maht kompenseerib marginaali\").<\/span><\/p>\r\n<h3><b>2. Energeetika ja kommunaalteenused: Igav on hea<\/b><\/h3>\r\n<p><span style=\"font-weight: 400;\">See sektor on m\u00f5eldud neile, kes tahavad \u00f6\u00f6sel rahulikult magada. Inimesed vajavad elektrit ja vett ka siis, kui majanduses on kriis.<\/span><\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Enefit Green (EGR1T):<\/b><span style=\"font-weight: 400;\"> Taastuvenergia hiiglane. P\u00e4rast IPO-j\u00e4rgset eufooriat ja sellele j\u00e4rgnenud kainestust (k\u00f5rged intressid tegid uute tuuleparkide ehitamise kalliks), on 2026. aastaks pilt selginenud.<\/span>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> Rohep\u00f6\u00f6re ei ole peatunud. Enefitil on t\u00f6\u00f6s uued pargid, mis hakkavad n\u00fc\u00fcd, madalamate intresside keskkonnas, paremat kasumlikkust n\u00e4itama. See on pikaajaline panus puhtale energiale.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Ignitis (IGN1L):<\/b><span style=\"font-weight: 400;\"> Leedu energiahiid. Paljud Eesti investorid eelistavad Ignitist Enefitile just stabiilsuse ja v\u00e4ga selge dividendipoliitika t\u00f5ttu. Nad on regioonis v\u00e4ga tugevalt kanda kinnitanud.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Tallinna Vesi (TVEAT):<\/b><span style=\"font-weight: 400;\"> B\u00f6rsi k\u00f5ige igavam aktsia \u2013 ja see on kompliment. Stabiilne rahavoog, stabiilne dividend. Ei paku suurt kasvu, aga on suurep\u00e4rane \"pensionisammas\" ja inflatsioonikaitse (vee hinda korrigeeritakse vastavalt kuludele).<\/span><\/li>\r\n<\/ul>\r\n<h3><b>3. Kaubandus ja kinnisvara: tarbija tagasitulek<\/b><\/h3>\r\n<p><span style=\"font-weight: 400;\">Inflatsioon on kontrolli all ja tarbijate ostuj\u00f5ud 2026. aastal kasvab. See on hea uudis kaupmeestele.<\/span><\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Tallinna Kaubamaja Grupp (TKM1T):<\/b><span style=\"font-weight: 400;\"> Eesti dividendi-aristokraat. Nad on maksnud dividende igal aastal, isegi kriiside ajal. Gruppi kuuluvad Kaubamaja, Selver, autokeskused (KIA) ja kinnisvara.<\/span>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Miks j\u00e4lgida:<\/span><\/i><span style=\"font-weight: 400;\"> V\u00e4ga h\u00e4sti juhitud ettev\u00f5te. Autokaubandus on ts\u00fckliline, kuid toidukaubandus (Selver) on stabiilne vundament. Nende dividenditootlus on peaaegu alati atraktiivne.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Kinnisvarafondid (EFTEN jms):<\/b><span style=\"font-weight: 400;\"> B\u00f6rsil on mitmeid kinnisvarafonde (nt EfTEN Real Estate Fund). Kuna intressim\u00e4\u00e4rad langevad, v\u00e4heneb nende laenukulu ja t\u00f5useb kinnisvara v\u00e4\u00e4rtus. 2026 v\u00f5ib olla aasta, kus kinnisvarasektor hakkab uuesti s\u00e4rama.<\/span><\/li>\r\n<\/ul>\r\n<h2><b>\"Langenud inglid\" ja eriolukorrad<\/b><\/h2>\r\n<p><span style=\"font-weight: 400;\">M\u00f5nikord peitub suurim tulu seal, kus teised n\u00e4evad hirmu.<\/span><\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Tallink Grupp (TAL1T):<\/b><span style=\"font-weight: 400;\"> Laevandushiid sai r\u00e4sida Covidist ja geopoliitikast. Kuid L\u00e4\u00e4nemeri ei ole kuhugi kadunud ja inimesed tahavad endiselt reisida. Ettev\u00f5te on teinud suurt t\u00f6\u00f6d v\u00f5lakoorma v\u00e4hendamisel. Kui nad suudavad taastada stabiilse dividendi, on aktsia hind potentsiaalselt alahinnatud.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>DelfinGroup (DGR1R):<\/b><span style=\"font-weight: 400;\"> L\u00e4ti finantsteenuste ettev\u00f5te (pandimajad, v\u00e4ikelaenud). V\u00e4ga k\u00f5rge dividenditootlusega, kuid k\u00f5rgema riskiga \u00e4rimudel. Sobib investorile, kes julgeb v\u00f5tta riske L\u00e4ti turul.<\/span><\/li>\r\n<\/ul>\r\n<p><b>Balti turu \"Varjuk\u00fclg\": likviidsus<\/b><\/p>\r\n<p><span style=\"font-weight: 400;\">K\u00f5ik ei ole roosiline. Balti b\u00f6rsil on \u00fcks suur miinus, millest algajad tihti k\u00f5rvetada saavad. See on <\/span><b>likviidsus<\/b><span style=\"font-weight: 400;\"> ehk kaubeldavus.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">V\u00f5rdleme:<\/span><\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Kui sa tahad m\u00fc\u00fca Apple'i aktsiaid 1 miljoni euro eest, toimub tehing millisekundiga ja hind ei muutu.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Kui sa tahad m\u00fc\u00fca Balti b\u00f6rsi v\u00e4ikeettev\u00f5tte aktsiaid 10 000 euro eest, v\u00f5id sa avastada, et ostjaid lihtsalt ei ole. Et aktsiatest lahti saada, pead hinda langetama, mis viib turuhinna alla.<\/span><\/li>\r\n<\/ul>\r\n<p><b>Mida see t\u00e4hendab sinu jaoks?<\/b><span style=\"font-weight: 400;\"> Balti aktsiad ei sobi \"p\u00e4evakauplemiseks\" (day trading). Need on instrumendid, mida ostetakse pikaajalise plaaniga (\"Osta ja hoia\"). Sa pead olema valmis hoidma neid aastaid. Kui sul on vaja raha kiiresti (n\u00e4dala jooksul) k\u00e4tte saada, v\u00f5ib see olla probleemne v\u00f5i kulukas, eriti v\u00e4iksemate ettev\u00f5tete puhul (First North nimekiri). P\u00f5hinimekirja (LHV, Kaubamaja, Enefit) puhul on likviidsus jaeinvestori jaoks siiski piisav.<\/span><\/p>\r\n<h2><b>Kuidas maksustada Balti dividende?<\/b><\/h2>\r\n<p><span style=\"font-weight: 400;\">Eelmises artiklis r\u00e4\u00e4kisime Investeerimiskontost. Balti aktsiate puhul on olukord veidi n\u00fcansirikkam.<\/span><\/p>\r\n<ol>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Eesti ettev\u00f5tted (LHV, Kaubamaja, Enefit):<\/b><span style=\"font-weight: 400;\"> Ettev\u00f5te peab tulumaksu (tavaliselt 22% v\u00f5i 14% regulaarsetelt dividendidelt) ise kinni. Sinu pangakontole laekub netosumma.<\/span>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i><span style=\"font-weight: 400;\">Investeerimiskonto kasutajale:<\/span><\/i><span style=\"font-weight: 400;\"> Kuna tulumaks on juba makstud, ei pea sa seda raha uuesti maksustama, kui selle v\u00e4lja v\u00f5tad. Kuid sa ei saa ka enammakstud maksu tagasi. See on \"maksuvaba tulu\", mida v\u00f5id tarbimisse v\u00f5tta kohe.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Leedu ja L\u00e4ti ettev\u00f5tted (Ignitis, \u0160iauliai, DelfinGroup):<\/b><span style=\"font-weight: 400;\"> Siin tuleb olla t\u00e4helepanelik. L\u00e4ti ja Leedu peavad kinni oma riigi tulumaksu (nt L\u00e4tis 20%, Leedus 15%). Eesti residentidele kehtib topeltmaksustamise v\u00e4ltimise leping. \u00dcldjuhul laekub raha kontole ja kui investeerid eraisikuna (tavaline konto), saad v\u00e4lisriigis makstud maksu Eestis arvesse v\u00f5tta. Investeerimiskonto puhul on see keerulisem ja v\u00f5ib tekkida topeltmaksustamise oht tulevikus v\u00e4ljamaksete tegemisel. <\/span><b>Soovitus:<\/b><span style=\"font-weight: 400;\"> L\u00e4ti\/Leedu aktsiaid on sageli lihtsam hoida tavalisel kontol v\u00f5i III sambas, et v\u00e4ltida liigset b\u00fcrokraatiat.<\/span><\/li>\r\n<\/ol>\r\n<h2><b>Kokkuv\u00f5te: sinu Balti portfell 2026<\/b><\/h2>\r\n<p><span style=\"font-weight: 400;\">Balti b\u00f6rs ei tee sind rikkaks \u00fcle\u00f6\u00f6. Siin ei liigu aktsiad 20% p\u00e4evas \u00fcles-alla nagu kr\u00fcptoturul. Aga see ongi selle tugevus. See on <\/span><b>rikkaks saamine aeglaselt ja kindlalt<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">Sinu strateegia Balti b\u00f6rsil v\u00f5iks olla j\u00e4rgmine:<\/span><\/p>\r\n<ol>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Vali kvaliteeti:<\/b><span style=\"font-weight: 400;\"> Keskendu ettev\u00f5tetele, mis on turul olnud aastaid ja maksavad dividende (Pangad, Kaubamaja, Vesi).<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reinvesteeri:<\/b><span style=\"font-weight: 400;\"> Kuna teenustasusid pole, suuna laekunud dividendid kohe uute aktsiate ostmiseks tagasi. Loo oma \"lumepall\".<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Ole kannatlik:<\/b><span style=\"font-weight: 400;\"> \u00c4ra lase end h\u00e4irida geopoliitilistest uudistest. Balti ettev\u00f5tted on harjunud siinses keskkonnas opereerima.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Hajuta:<\/b><span style=\"font-weight: 400;\"> \u00c4ra osta ainult \u00fchte panka. Osta panka, energiat ja kaubandust.<\/span><\/li>\r\n<\/ol>\r\n<p><span style=\"font-weight: 400;\">Tallinna b\u00f6rs on suurep\u00e4rane koht, kus \u00f5ppida investeerimist, tunnetada turu ps\u00fchholoogiat ja teenida samal ajal korralikku passiivset tulu. Nagu vanas\u00f5na \u00fctleb: \"Kaugelt toodud \u00f5un on ehk ilusam, aga oma aia \u00f5un on magusam.\"<\/span><\/p>\r\n<p>[\/et_pb_blurb][et_pb_image src=\"https:\/\/images.pexels.com\/photos\/3224113\/pexels-photo-3224113.jpeg?_gl=1*1gnvy57*_ga*NjAzNjU3MTIuMTc2NzMwMzAzOA..*_ga_8JE65Q40S6*czE3NjczMDMwMzgkbzEkZzEkdDE3NjczMDYyMzUkajU5JGwwJGgw\" alt=\"fintech\" title_text=\"fintech\" _builder_version=\"4.27.4\" _module_preset=\"default\" max_width=\"51%\" hover_enabled=\"0\" global_colors_info=\"{}\" sticky_enabled=\"0\"][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\r\n<!-- \/wp:divi\/placeholder -->","_et_gb_content_width":"2880","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-2796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-platformid-ja-tooristad"],"rank_math_title":null,"rank_math_focus_keyword":"balti b\u00f6rs,tallinna b\u00f6rs,baltic,nasdaq","rank_math_description":"Selles artiklis vaatame, miks on Balti B\u00f6rs, ja just Tallinna B\u00f6rs atraktiivne ja milliseid konkreetseid ettev\u00f5tteid tasub oma radaril hoida.\n","_links":{"self":[{"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/posts\/2796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/comments?post=2796"}],"version-history":[{"count":12,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/posts\/2796\/revisions"}],"predecessor-version":[{"id":2944,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/posts\/2796\/revisions\/2944"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/media\/2800"}],"wp:attachment":[{"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/media?parent=2796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/categories?post=2796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundguidr.ee\/en\/wp-json\/wp\/v2\/tags?post=2796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}