My annual expenses jumped to a crazy 29,814 €!
Lifestyle inflation is a bitch. Last year I reported that my yearly expenses were a measly 26,477€ and I didn't think of updating this post for 2019. I figured it'll be around the same amount.
Imagine my horror when I realized now that actually my expenses have jumped by 10%! And of course my salary didn't, which would mean less money is going into savings and investments.
This of course needs further investigation. Where am I spending more?
How has COVID-19 affected lending and stock market?
Surprisingly little, it would seem. But it's likely only the surface.
Quality platforms have been quick to respond. Some platforms such as Swaper have tightened their risk management protocols. This is necessary for them when they provide a buyback guarantee, as doing otherwise could risk them ending up insolvent.
This year will separate the wheat from the chaff with peer lending platforms
Bear call spreads: trading in a bear market
I'm not an experienced options trader, so what I'm about to tell you reflects my very recent learnings in the domain.
When you're convinced (like I still am) that the coronavirus has not been fully tallied up in especially the american stock prices, you might want to benefit from the situation.
March 2020 update
Please remember that nothing on this blog should be taken as investment advice.
What a start for the year!
First the Kuetzal scam and its ongoing legal actions. Then Envestio following on the same path, with concerning signs on also both Monethera and Wisefund.
Edit 28.3.2020: And now looks like Grupeer might follow the group. At this point, the P2P industry looks very fragile and I'm definitely going to reduce my position drastically.
And now the stock market plummeting because of the coronavirus!
This year is going to be awful in so many ways.
But I'm not panicking. I'm actually very well positioned right now for the future. What will I do?
How coronavirus affects my investing
Stock indices have plummeted in the last couple of weeks due to the coronavirus outbreak. The S&P 500 is down -8% this year. What am I planning to do about the situation?
My 2½ year old Bondora portfolio has returned 27%
Bondora is very different to for example Mintos. Two things set Bondora apart from the competition
- They issue the loans themselves, and
- They don't have a buyback guarantee (Read my Bondora review on why they shouldn't either)
More real estate and stocks
What is diversification and why is it most important for long term returns?
Nobody likes to lose money (Like I just very likely did on Kuetzal). I particularly dislike losing money. If you invest however, you're bound to lose money at some point.
It's inevitable. You will lose money. Accept it.
I'm trying my best to embrace loss, despite my utter dislike for it. To avoid loss at all costs means to avoid wins too.
January 2020 update: 4,775 € loss
Oh no.
I've been dreading to write this update.
If you haven't heard, Kuetzal platform has collapsed and most of the details point towards fraud. There are those who are convinced that most of the projects didn't exist in the first place, if any.
I honestly don't know what to make of all this, but I have now accepted that I've lost 6k €. With my current passive income, that's about four months. But I feel I deserve it. I was greedy. I let my fear of missing out cloud my judgement. I jumped on the bandwagon. I was the dumb money. 🤷♂️
Fuck.
Others have liked these posts
-
Over the years, I've got a lot of questions about how I track my P2P portfolio. I've set my tracking up with tools that are difficul...
-
Right now, more than one billion people lack access to electricity . Trine , founded by Andreas Lehner and Sam Manaberi, is an investment ...
-
Like I mentioned in my last update, I crossed another 100k€ mark this month, yay! 🎉 Will I make it to 1,000,000 € by the time I am 40? Can ...
-
I seem to have a suspicious amount of favorites, but Crowdestor definitely has a certain special place in my peer lending investment hear...
-
Okay readers, let's settle this debate once and for all, right now: which is financially a better option, renting or owning? This debate...
-
When you start investing in the stock market for the first time, usually your intuition is that the risk is in deprecation of the stock'...
-
Designed by Rawpixel.com How long will it take for you to reach financial independence and retire early? This smart calculator will te...
-
I'm sure you've heard many times: "Stocks historically have the highest returns." Since you have decades left in the ta...
-
How do you become a millionaire? It's not a complicated matter, if you have time. If you don't want to wait until an old age th...
-
There's always a crash coming. Ever since 2013 they've been calling it, just around the corner. I was bearish before the corona cras...
More blogs you'll love
-
공무원 대출 한도 3곳 비교12 hours ago
-
-
-
-
-
7 Things You Should Know About NFTs2 years ago
-