…or let’s see if having some clear objectives will help with a better savings rate.
Sometimes motivations is what keeps you going and help you improve. I know that Financial Independence should be a strong motivational factor alone, but we are talking here about a goal that can take 5, 10, 15 years (or more)
But is it wrong to have some guidelines to help you in a project ? I would definitely want to see if small milestones will help us keep our final goal in focus and as talked in a previous articles, we will set some financial goals for this year (and with some luck and math we will adjust our savings rate).
P2P: I want to deposit 560USD more in the current investing platform, but as a bonus goal I would like to invest another 560USD in another one. The goal is to reduce the risk of having just one platform and spread the total sum on two. In the same manner I would prefer to top up one to 1100USD before anything else
FOREX: I am targeting a value of 1000USD for my portfolio. That is the goal, have 1k there. I don’t care if it’s from deposits or profit. Just have 1k.
State Bonds: We want some low risk investments and this year MFP ( the minister of public finances) has some really nice ‘offers’. 2-3 years state bonds, non taxables, with a 4-5% interest. We would definitely consider this investment even if we are talking about a sum of 250USD
We didn’t exclude the long term performers, ETF and Stocks (I would like to start with national stocks before targeting international). I have to do more research before starting to invest in any of them, but a nice round number to invest will be 1000USD (any of them and we even accept a split – the more the merrier).
In terms of profit, I would like to check the following marks: 60USD from P2P, 400USD from Forex and 80USD in form of dividends from either ETFs or Stocks.
As all investments are important, we consider paying in advance the mortgage credit a good point to have in the checklist. The target for this year is to pay at least one month worth of credit.
The last goal I can think is to put back in the economy buffer 2000USD (this is an addition to what we already contribute).
Now, let’s sum them up in a nice list:
- P2P: We would like to deposit 1120USD and make a profit of 60USD.
- FOREX: a 1K account, we are short around 500USD (if we look at the portfolio status)
- State Bonds: a 250USD contribution
- ETFs/Stocks: the 1000USD contribution and 80USD profit
- Mortage: 1 month of mortage
- Economy Fund: a 2000USD deposit
Now, let’s get down to business. I can’t wait to provide you with the next portfolio update (March 2019) !
Thank you for reading this!
Disclaimer: I am not a financial consultant, all the information you find here are my decisions, I taken in that moment, on my own analysis. I am open to any type of discussion about money. If you want to replicate my portfolio take into consideration that it is your money.