• regular posts

    Buy the dip

    cryptocurrency exchange

    My thoughts when my home government decided to stop the payments into the retirement funds while the stock market prices are going lower.

    So they think it is only a good time to buy stocks when prices are going up?

    The same thinking is actually inserted into our minds as well. When there was a Bitcoin boom back in 2017-2018, there was a peak in the interest to buy and invest in Bitcoin. (WHEN THE PRICE WAS ALL-TIME HIGH)

    But later in 2018, when the Bitcoin price crashed and the interest to buy and invest in cryptocurrencies faded as well. But now in 2020, the price of Bitcoin has been recovered from as low as 3200$ USD to 9500$ USD at the time of writing. I must mention that Bitcoin all time the high is $20 089,00 USD

    I think this 3 minute video presents quite well the current situation of cryptocurrencies and how they might fit into our reality as a alternative to gold and other physical assets.

    All credits to: Dustin O’Daffer

    https://www.youtube.com/channel/UCVAy9j7CKEFy2tyVn7yHPOA

    My thoughts: There can be the maximum amount of 21 000 000 Bitcoin and at the same time there can be theoretically(and seems like it is same in the reality) infinite amount of USD, AUD, EUR or any other FIAT currency then it is logical to me that the price of Bitcoin is only going to go up long term (at least while they are printing more money and interest in cryptocurrencies stays consistent).

    If you consider investing in cryptocurrencies then I did small cryptocurrency exchange comparison for you. I mention that I use both of them. Binance for trading and Coinspot for hodling.

    Coinspot, buy bitcoin
    Coinspot, most trusted cryptocurrency exchange in Australia

    If you want to invest in Bitcoin and living in Australia then the best way is it to do through using Coinspot.

    Join CoinSpot with my bonus link and you will receive $10 worth of Bitcoin* after you complete your first AUD deposit.

    The Bonus Link: Click here

    Binance cryptocurrency exhange
    Binance Exchange, world biggest global cryptocurrency exchange

    If you are living in the United States or Europe, Australia, or any other country in the world then Binance is the best option for you.

    Binance Exchange is the leading global cryptocurrency exchange, with users from over 190 countries and regions. Capable of processing more than 1.4 million orders per second, Binance is the largest crypto exchange by trade volume and one of the fastest in the world. 

    Although the verification process may take up to 2 days, it is easy to deposit and withdraw and it is completely free.

    Trading fees are as low as 0.01% to 0.1% per trade.

    If you join with my bonus link we both get a 10% bonus of commission of every trade we make. You will get from my trade commissions and I will get from your trade commissions. Your account must be verified.

    The Bonus Link: Click here

    I also want to mention that investing in cryptocurrencies may be very risky and never invest money you don’t afford to lose.

    Investment in cryptocurrencies can be as small as 1$ because there are no fees to deposit and withdraw. No fees to hold your cryptocurrencies on the exchange and trading fees are usually 0.1%.

    I encourage you to do additional research and never do any actions based purely on emotion.

    Other Bonus Links

    I hope this cryptocurrency exchange comparison helped you. If you have any questions I will be happy to help. Let me know your thoughts in the comments.

  • regular posts

    The Personal Finance Books Everyone Should Read

    the personal finance books everyone should read

    Let’s be honest. I don’t read books a lot, but every time I start reading one, it gives me a boost of motivation that lasts for a few months. I just thought I share my favorite personal finance books that I think everyone should read.

    “Rich Dad, Poor Dad”

    (2009) by Robert Kiyosaki

    It was probably the first finance book I read and I must say it has changed my view of money and finances in general. It is really eye-opening and very easy to read and understand. If you have not read this then I recommend you to get this book as soon as possible.

    Rich Dad, Poor Dad certainly ranks as one of the all time classics in personal finance books. Rather than focus on concrete steps for what people can do to fix their financial life, the book presents an alternative mindset about money. According to Kiyosaki, the rich teach their children a fundamentally different view of the financial world.

    For example, the book points out that working hard and even earning a high income is not enough to ensure financial success. Rather, the book emphasizes that the rich work smart and spend more intelligently. Indeed, a person with a $100,000 income and $110,000 in expenses will end the year poorer while a person with a $30,000 income and $20,000 in expenses ends the year wealthier.

    “Rich Dad, Poor Dad” is a must-read for those looking to change their attitude about money and wealth. You can read all the practical books with sound financial advice, but if you lack the mindset to truly build wealth, it will be difficult to achieve financial success. (We provide some classic and lesser-known titles to add to your collection.

    “How I invest in equities”

    (2017) by Seppo Saario

    This book I got my first contact with technical analysis where he demonstrated a very simple and robust moving average crossover strategy. There’s obviously more to technical analysis but this book covers some of the basics.

    This book by the famous Finnish investor and to my knowledge is published in Finnish and Estonian only. Seppo Saario is a highly experienced investor and in his book, he describes his approach to investing in stocks. He starts off with general statistics about stocks being the best long-term investment. He shares personal experience and knowledge on how to get first exposure in the markets; when to buy or sell; some very interesting historical data about investments; how to manage risks etc. Saario writes about what to look for in a company to get the best value, how to avoid mistakes, best practices, and more.

    “The Intelligent Investor”

    (1949)by Benjamin Graham

    The Intelligent Investor is a must-read for any aspiring investor. This book covers pretty much everything related to investing with its over 500 pages of valuable information.

    The Intelligent Investor is the grandfather of investment strategy books. Author Benjamin Graham is often regarded as one of the fathers of the value investing school. The book stresses the importance of fundamental analysis and truly understanding your investments. By learning to analyze potential investments in depth, investors can learn how to spot underpriced stocks backed by robust companies.

    The central tenet of the book is that a scientific approach should be used when directing your investments. Reading this book you will learn to keep your emotions out of your investments and develop a skeptical stance toward anything resembling the type of Wall Street hype that so often gets the average investor into trouble.

    “The Little Book of Common Sense Investing”

    (2007) by John.C.Bogle

    This book’s main topic is investing long term in mutual funds. It covers this topic entirely. This book was really easy to read and understand and I totally recommend it.

    The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.

    While the stock market has tumbled and then soared since the first edition of Little Book of Common Sense was published in April 2007, Bogle’s investment principles have endured and served investors well.  This tenth-anniversary edition includes updated data and new information but maintains the same long-term perspective as in its predecessor. 

    I hope you found this personal finance books everyone should read post interesting and if you have any personal finance book recommendations then please let me know and comment.

    You can read my latest net worth update here.

  • net worth updates

    Net Worth Update May

    net worth update may 2020

    Time to take May into pieces. Stock markets have been bounced back and it seems like fear of coronavirus has been faded a little bit and new “thing” came up called “Black Lives Matter”. Of course, it matters, so do any life. And lately, someone started to run “Start Investing” advertisements all over the radio stations. I think there was a good time to do some changes to the portfolio in March. Who bought stocks in March are now most likely able to make a profit from it. My strategy is still to acquire savings and only buy very small amounts of shares as I am still figuring out my way at investing and I think the regression has not even started yet. So better have some cash ready to hop in when the prices are right. Let’s now get to the business and start with the net worth update.

    Quick overview

    The total amount saved in May €2213.92, added + €370.30 into Bitcoin and on the 1st of June 2020, my portfolio stands at €16 626.80

    Mintos

    Mintos has been doing suspicious things lately and it makes me a little worried. Sometimes the numbers do not add up:

    Mintos overview, mintos referral link
    Mintos showing wrong numbers on its statement

    And many of the lending companies listed in Mintos has stopped paying, half of the loans are overdue and grace period which supposed to be up 2 days is now a week or even more. I stopped completely deposits and investments in early March. I am slowly getting my money back, but what we are learning now is that there is no quick way out unless you are one of the first ones to withdraw your money.

    mintos referral link
    My Mintos portfolio on 1st of June

    Stocks

    By the end of May, stocks have been rebounded fairly and my small stock portfolio gained roughly 100€ in its value. I did not buy into any positions in May.

    baltic stock market, stock portfolio
    mStock portfolio

    Funds

    I am currently holding a position in NHCBHFFT since 12.2016 and so far I have earned a total of 108.98€ interest. They pay it out quarterly and this month I have earned 9.08€. I reinvested this dividend and now hold 613 shares. Baltic Horizon fund cut its usual dividend by roughly 50% in the first quarter of 2020 due to COVID-19 and unknown circumstances around that. I agree with the managers of the fund and it is better to have some backup money on the fund account.

    equity funds, baltic horizon fund

    Bank savings account

    Currently, I have  €9854.98 on my bank savings account. That means I almost achieved my this year goal to have €10 000 on my savings account. In May, I put an additional 1805.46€ into my savings account. I also earned 0.71€ interest on it which is not much, but passive income is passive income.

    Cryptocurrency [AUD]

    I have put some money into cryptocurrency as the Bitcoin halving is on the was in the middle of May and I am speculating that it will be a good investment in the long term. I did one successful trade as well sold all my bitcoin at the price of 14800$ AUD and bought back at $13902.02 AUD making me profit 84.52$ AUD.

    net worth of my cryptocurrency portfolio. Coinspot crypto exhange
Bitcoin halving, bitcoin, ripple
    Cryptocurrency portfolio overview

    Total passive income

    I started tracking my total passive income from January 2020 and right now I am holding dividend-paying shares, the interest-paying fund, opened a savings account, and hold a small portfolio in the Mintos P2P marketplace. Total passive income in May was 14.79€.

    It may be not much but if I am consistent it will grow over the years and eventually I would be able to pay for my living costs from the passive income I get. For 14€ I would be able to pay for my monthly mobile recharge.

    Passive income May 2020
    Passive income May 2020

    NET WORTH

    For me, tracking net worth is really motivating. Knowing that you have a financial fortress behind you and having a month or two off from work will not be a problem. I started just with having ~1200€ on my name in June 2019 and currently, I am sitting at  €16 626.80 I don’t count my car, my phone, and other personal belongings in my net worth. I do not have any dept/loans on my name.

    net worth, savings
    Net worth update May 2020

    My net worth is a sum of:

    • Value of the shares I own each month and cash sitting on the investment account
    • Value of my savings account + cash
    • Value of the Equity funds I own
    • Value of my crypto portfolio
    • Value of P2P lending portfolio
    • Value of the SUPER/PENSION FUND
    • MINUS all dept/loans (which I do not have)

    Summary

    Some of you might think that the way I am going with my savings and investing is too slow and boring. Well, I think the same. I am actually looking to accelerate the progress and started my first Youtube channel and you might be interested to look this out: https://www.youtube.com/channel/UCiewl1Xe02D2Vxfx202cfSA

    Billionaire George Soros (actually I do not like him because of his reasons to do things) once said: “First million is the hardest, after this, it will go easier” And I also think saving first 1000€ was harder than saving 1000€ now, passive income and other small things are helping on the way.

    I have one rule when I am investing my money and this rule is NEVER LOSE MONEY

    It is really important for me to write this blog because it is really giving me a boost and motivation for the month to come because seeing the progress in beautiful charts and graphics is motivating.

    By the way, I am using an excel spreadsheet to track my spending and income. You can have it too, simply follow this link.

    I hope you guys enjoyed net worth update May and please subscribe to this blog to get notified with further updates.

  • net worth updates

    Net Worth Update February

    This is the first entry for this blog and I’ll begin with a post that encapsulates the soul of the blog: Net Worth Updates stating what kind of investments I have made during last month, my reasoning behind them and some numbers showing how well my investments have performed during the month.

    As it is the first month I am ever doing this, there’s not much data to put into nice-looking informative charts. But I’ll still try my best.

    Quick overview

    Overall I’ve invested +€800.00 in February
    +€500.00 in stocks
    +€300.00 in P2P lending

    By the 1st of March 2020, my portfolio stands at €11 596.16
    I’ll break it down below:

    Mintos

    I have been investing with Mintos for quite a long time now and it has been steady passive income for me for nearly 3 years. I have previously withdrawn most of the portfolio to relocate back to Australia so now I am rebuilding my investment portfolio in Mintos and aiming to have 5000€ on the platform by the end of 2020. Currently, I am sitting on 1322.33€

    In February I deposited 300€ into Mintos and earned 6.85€ at NAR showing me 12.11%.

    passive income earned in Mintos
    Mintos screenshot

    As you can see I have NIL Defaulted loans on my name and total profit 690.36€. I have a quite clear strategy while investing in Mintos and I will break it down in a separate post.

    Stocks

    Stocks have been rather interesting in February thanks to my home bank now offering to buy, sell and hold stocks without any fees. I have to say that I got excited and bought small positions in HAE1T and TAL1T this month. All my positions are in red due to market correction. I do not worry because my strategy is to buy and never sell. My plan is to buy more when prices go lower. Regular investments are the way to go.

    Funds

    I am currently holding a position in NHCBHFFT since 12.2016 and so far I have earned a total of 99.47€ interest. They pay it out quarterly and this month I have earned 9.45€. I am very happy with this investment and I am planning to buy more shares when the prices go lower.

    Bank savings account

    Currently, I have  €6,517.28 on my bank savings account which normally pays out 1.25% interest, but this month I did not receive any interest because I did not meet the criteria to earn it because I made a withdrawal from my savings account. This month I added 650€ into my savings account.

    Cryptocurrency [AUD]

    Crypto has been rather interesting as well. I sold nearly 80% of my portfolio on 26. February. I did not manage to sell when my portfolio was at an all-time high with worth over 600$ but I believe a bigger dip is ahead. My plan is to buy back to my positions in BTC and XRP when the prices go lower. Yes, I am trying to time the market. Overall I have deposited into crypto 300$ that means I am currently 125.68$ in profit with cryptocurrencies.

    my cryptocurrency portfolio
    Marked yellow, when I sold about 80% of my portfolio

    Total passive income

    I started tracking my total passive income from January 2020 and right now I am holding dividend-paying shares, the interest-paying fund, opened a savings account and hold a small portfolio in the Mintos P2P marketplace. Total passive income for February was 16.34€.

    passive income

    NET WORTH

    For me, tracking net worth is really motivating. Knowing that you have a financial fortress behind you and having a month or two off from work will not be a problem. I started just with having ~1200€ on my name in June 2019 and currently, I am sitting at  €11 596.16. I don’t count my car, my phone, and other personal belongings in my net worth. I do not have any dept/loans on my name.

    my net worth and earned passive income
    My net worth growth since June 2019

    My net worth is a sum of:

    • Value of the shares I own each month and cash sitting on the investment account
    • Value of my savings account + cash
    • Value of the Equity funds I own
    • Value of my crypto portfolio
    • Value of P2P lending portfolio
    • Value of the SUPER/PENSION FUND
    • MINUS all dept/loans (which I do not have)

    Summary

    By the way, I am using an excel spreadsheet to track my spending and income. You can have it too, simply follow this link.

    February has been an interesting month. All these Coronavirus fears have been hitting the stock market. My net worth has risen quite a bit in February mostly thanks to active income and overall I am happy with the month. Hopefully, I can take advantage of the recent correction. We will see what the future brings. Stay healthy and see you in the next post!