My wealth 05/2019

My money is allocated to various different investment options and platforms, but I will present all of them here, as clearly as possible. My currency is Euro!

      #1 rule in investing: Asset allocation, Investing's Only Free Lunch ;)

Cash + money in investments:  172 488e

Student loan: 9393e

Wealth In total: 163 095 Euros, which is 182030 in USD

If I would sell my equity funds + savings contracts, I would have to pay taxes. I am not sure how much in total, but the tax rate for capital gains is 30% (or 34 if it's over 30k) in my country. I assume that if I would sell all my investments for cash right now, I would have to pay maybe 10-15k for taxes. So my net wealth is actually that much lower. 

My student  loan is actually 15593, and I will take it little bit more until it hits 18k. But, I have to pay only 11800 for the 18000, if I graduate early (it seems like  I will). That is our government's policy to get students faster through their studies.

It is not always black and white when you calculate your money and wealth, and it's chanching all the time. I have almost 100 kEur in equity funds, so I will be hit hard when stock  markets rise/fall.

I believe that I will grow my investments in P2P-lending and also slowly in equity funds. P2P-lending is a new way of investing: you borrow money straight to those who need it. There are no middlemen (such as banks) who are taking their piece from the money-cake.

What do you think about my portfolio and its allocation? I would like to hear your thoughts :)

My story: Who am I & am I financially free yet?

Welcome to the blog!

I am a 24 year-old man from Nordic Europe who is interested in becoming financially independent at relatively young age. By that, I mean at least before I'm 40 years old. I have a strong passion in investing, saving and becoming your own boss. My goal is not to stop working when I retire, not at all. Instead, my goal is to have more time and money to do whatever I want. That can be helping other people,  travelling, creating content, mentoring or something like that. I get bored if I have no goals or ambitions, just like everyone else. I just don't want to be slave for work, I want to escape the rat race when it's possible.

Currently, I am finishing my masters degree in IT and Business in a university. I have some work experience from the field also.

I have many people who I look up to. But one guy, who inspired me to start this blog is Jason Fieber (also Divident Mantra -blog). His story is so god damn inspiring, you should definitely check his stuff! He became financially free at 33, in just 5-6 years by saving and investing aggressively. He also had his side hustle, the blog, which generated extra income for him, especially in later years. Right now I am reading his book, 5 Steps To Retire in 5 Years, which is very easy to read and informative.

I have always been quite frugal, which has allowed me to save some money already in my previous life. I have also had some money from my grandparents, which has allowed me to enjoy the benefits of compound interest and it's amazing benefits. My parents have invested the money that I got from my grandparents when I was just a kid. I knew nothing about investing while the money was doing work for me without me even knowing that.

By the age of 18, I was able to access my money, and I started to learn a lot about investing. I remember wathing stock prices in high school via my mobile phone in class. It was all very interesting, and after I read couple of books and read some online articles, I realized that I can have the money working for me, if I learn how to invest correctly. Actually, my parents had already diversified my portfolio, so I did not had to do that much changes, I just started to watch my investments and learned along the way. It was 2013 when I started to learn about investing.

Now, I get it. I get it totally. I was very fortunate to get some money without me even knowing it. I was lucky, luckier than most people in that sense.  I am forever grateful for my grandparents who gave some of their money away, and also to my parents who invested it wisely. I was lucky, I admit it. But believe me, money does not make people happy, although people in western world think it goes that way. Money can give you freedom and opportunities, and that's it. There has been studies that after a certain number of income, the extra income won't make a man any happier. 

Now it's 2019 and I am still learning, because learning never stops and the world (also economy) is changing all the time, more rapidly than ever before in history.

I decided to start writing my blog because I want to inspire other people, share my knowledge and also document my own journey. I want to be accountable and learn from you guys also! I want people to start thinking outside of the box, and I want to show them that investing is very simple if you want it to be!

- Aron Musk