If You Had Invested €1,000 in 2014: The Real Numbers 10 Years Later
January 2014. The MSCI World was at around 1,700 points. Bitcoin was at roughly €800. The French Livret A paid 1.25%. What would have happened if you'd put €1,000 to work that month? The answers will make you want to act today.
€1,000 in 2014 would have become: MSCI World: ~€2,600 (+160%) / S&P 500: ~€2,850 (+185%) / CAC 40 with dividends: ~€2,100 (+110%) / Gold: ~€1,950 (+95%) / Livret A savings: ~€1,130 (+13%). And Bitcoin... that's a different story.
The full ranking: €1,000 in 2014, how much in 2024?
| Asset | €1,000 in Jan. 2014 | Value end of 2024 | 10-year performance | Annualised return |
|---|---|---|---|---|
| S&P 500 (with dividends) | €1,000 | ~€2,850 | +185% | ~11%/yr |
| MSCI World (with dividends) | €1,000 | ~€2,600 | +160% | ~10%/yr |
| CAC 40 (with dividends) | €1,000 | ~€2,100 | +110% | ~7.7%/yr |
| Gold | €1,000 | ~€1,950 | +95% | ~6.9%/yr |
| Livret A (savings) | €1,000 | ~€1,130 | +13% | ~1.2%/yr |
| Bitcoin | €1,000 | ~€80,000+ | +8,000% | Extreme volatility |
Note: gross returns before taxes, expressed in euros. Accumulation ETFs automatically reinvest dividends. The Livret A average rate over the period was approximately 1.2%/year (variable rate: 1.25% in 2014, 0.5% in 2020, rising to 3% in 2023, back to 2.4% in 2026).
The savings account trap: the illusion of "no risk"
€1,130 for €1,000 invested over 10 years. That's +13% nominal. But cumulative French inflation over this period was approximately 20-25%. In real purchasing power terms, your €1,000 in a savings account actually lost value.
That's the real risk of cash savings: not losing it nominally (guaranteed by the state), but watching your savings silently erode against inflation. At today's 2.4%, it remains slightly positive in real terms. But in a higher-inflation environment, this won't hold.
Savings accounts are essential for emergency funds (3-6 months of expenses). But leaving significant sums there long-term means accepting slow impoverishment.
MSCI World vs S&P 500: the nuance
The S&P 500 (only the 500 largest US companies) outperformed the MSCI World (1,600 companies across 23 countries) by ~25 percentage points over 10 years. Two important caveats:
- It was the US that were exceptional, not a historical constant. In previous decades, the rest of the world sometimes outperformed the US.
- Concentrating on one country increases risk. In 2014, nobody knew the US would outperform this dramatically. The MSCI World protects you if the US has a difficult decade.
The MSCI World vs S&P 500 debate is explored in depth in our detailed comparison.
The Bitcoin exception: brilliant or trap?
€1,000 in Bitcoin in January 2014 (at ~€800/BTC): you had about 1.25 BTC. By end of 2024, at ~€80,000/BTC, those 1.25 BTC were worth roughly €100,000. On paper, that's +10,000%.
But here's the reality of Bitcoin investors:
- 2018: Bitcoin lost -84% in a year. An investor from 2014 with €1,000 saw their capital drop to ~€2,000 after reaching ~€20,000 in 2017. Most sold in a panic.
- 2022: Another crash of -77%. FTX collapsed. Many of the 2018 survivors capitulated at this point.
- Real result: fewer than 5% of 2014 buyers still had their bitcoins intact by end of 2024.
The MSCI World ETF has never fallen more than 55% (2008-2009 crisis) and has always recovered within 3-5 years. That's the difference between a speculative asset and an investment asset.
The CAC 40 with dividends: the underrated asset
The "bare" CAC 40 (without dividends) would have returned about +75% over 10 years. But the CAC 40 GR (Gross Return, with dividends reinvested) delivered +110%. The difference: 35 percentage points of performance over 10 years, solely from reinvested dividends.
That's why accumulation ETFs (which automatically reinvest dividends) are preferable to distributing ETFs for long-term investors. Every dividend payment that isn't reinvested is a missed compounding opportunity.
What 2014-2024 teaches us about 2024-2034
Nobody could predict in 2014 that the US would outperform so dramatically, that Bitcoin would go from €800 to €80,000 via €3,000, or that Covid would create a crash followed by a record rebound in 2020.
What we knew in 2014 and still know in 2026:
- Staying invested long-term beats market timing in 95% of cases
- Diversification (MSCI World) reduces risk without sacrificing return
- Fees matter: an ETF at 0.20%/year vs an active fund at 2%/year makes a ~50% difference in capital over 30 years
In 10 years, you'll look back at 2026 the way you look at 2014 today. The real question isn't "should I have invested in 2014," it's "am I investing in 2026?"
In 10 years, the best time to have started will be today
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Start for free →What about taxes on those gains?
The figures above are gross of taxes. In France, if you had invested through a regular brokerage account (CTO), gains at sale in 2024 would have been subject to the flat tax of 31.4% (12.8% income tax + 18.6% social contributions).
MSCI World example: +€1,600 in gains on €1,000 invested. Taxes on CTO: €1,600 × 31.4% = €502 in taxes. Net capital: ~€2,098.
Through a PEA (tax-advantaged account open for more than 5 years), taxes would have been only 18.6%: €1,600 × 18.6% = €298. Net capital: ~€2,302. The difference: €204 extra, purely from the right tax wrapper. See our PEA tax guide.
Frequently asked questions
Do these figures account for inflation?
No, they are nominal (in current euros). French inflation from 2014-2024 was approximately 20-25% cumulatively. In real terms, the MSCI World returned about +110-115% in purchasing power, while the savings account lost about -10%. Even more striking.
How should I invest €1,000 today most effectively?
The same logic as in 2014 applies: an MSCI World ETF in a PEA, through an online broker (Trade Republic, BoursoBank, Bourse Direct). The WPEA or DCAM ETFs are excellent 2026 choices at 0.20%/year in fees, PEA-eligible. See our invest €1,000 guide.
Is gold a good investment today?
Gold plays a role as protection against inflation and crises, but it's not a growth driver. An allocation of 5-10% maximum in a diversified portfolio can make sense. For the majority of long-term investment, equity ETFs remain superior. See our gold investment guide.
Can we expect similar returns over the next 10 years?
Impossible to predict with certainty. What we know: global equities have historically returned ~7%/year net of inflation over 10+ year periods (with significant decade-to-decade variation). Past returns don't guarantee future returns, but global companies continue generating profits.