Journey to Financial Freedom

in financialfreedom •  7 years ago  (edited)

Here is the introduction of my financial blog:

I have invested in Mintos p2p lending marketplace.
My strategy is to pick a good loan originator that offers buy back guarantee in case of default.
I have chosen Mogo since it seems to be the strongest originator on the platform and it is overall profitable company.
Then, I am indifferent of the maturity of the loans since I am planning to be here for long term.
Status quo as of 3rd of January 2018

Account Balance
€ 220 096.89

Net Annual Return
13.09%

Interest € 1 017.30
Late Payment Fees € 5.34
Bad Debt € 0.00
Secondary Market Transactions € -7.33
Service Fees € -15.51
Total Profit € 999.81

My Investments
2 454
Current € 165 046.25
1-15 Days Late € 25 571.95
16-30 Days Late € 8 309.38
31-60 Days Late € 21 159.70
60+ Days Late € 0.00
Default € 9.19
Bad Debt (€ 0.00)
Total € 220 096.47


The goal here is to get at least 1 % ROI per month and reinvest it to create compounding interest.
1 % represents around 2200 euros/month. After taxes it will be 1452 euros.
My and my wife's living expenses altogether are around 1100 euros/month (including everything besides spending).
Therefore, this alone enables us not to work anymore.


I have also some shares as follows:

Realty Income Corporation; 1320 shares; the value of the shares in euros: 61 978
InfraCap MLP ETF; 165 shares; the value of the shares in euros: 1 237

Together: 63 215 euros


Mintos and shares combined: 283 311,89 euros


Besides these I have crypto currencies and a trading portolio for Bitcoin ETN in Stockholm stock exchange. Those positions I am not willing to reveal - at least just yet. ;)


Also I have 2 rental units, their net value are around 60 000-70 000 euros, and they have tenants living, pretty passive income, the rents are 380 euros and 399 euros, together 779 euros/month. One has a mortgage attach to it worth of 10 000 euros (I have paid it since 2011) and one is free and clear with the title in my cupboard.

My goal is to reach 1 million euros networth (outside of crypto), then the next step is to reach 10 million etc. To reach the goal I might be selling some cryptos but as I think the time is not to sell any bitcoins just yet.

What sort of blog posts are you willing to see from me?
I am 31 years old, I am about to retire in a couple of months from my day jobs (yes I have been working in two jobs so that I could afford to pay off the loans I took for buying bitcoins last year - luckily nowdays those loans are being repaid and I am pretty much financially free, the networth grows without me working).

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Thank you I guess. :-)