Building my investment portfolio: a first look at how I do it.
|Building my investment portfolio: a first look|
This is the first video in a series I plan to do on my investing journey. I will try and do regular updates as the portfolio progresses.
Currently, I have 5000 EURO invested in Gold, Silver, Cryptocurrencies and dividend stocks. My goal is to grow this to 20.000 EURO this year. This growth will come mainly from me putting in my own money into the portfolio, but hopefully, capital gains and dividends that I reinvest will help me get there.
I am sharing with you my investing journey because:
- I want to inspire others to do the same
- I need you to hold me accountable :-) Will you help me?
This journey I am on is inspired by the FIRE movement. FIRE stands for:
Financial Independence Retire Early
I say inspired by because I do not fully agree with the core philosophy of the movement. Basically, what the movement is saying is to save 75% of your income and then retire of those savings. That's a bit extreme to me. And will certainly not be accepted by my family.
However, I do follow the following mantras:
|Pay yourself first|
- Pay yourself first
- Live below your means
- Invest the difference
I mean, I do not care about how much I make, but about how much I keep. Another thing that I have come to realize is that it is important to have passive income, meaning money that comes in without me exchanges my time for money.
This is why dividend investing is so powerful. It will generate passive income. Maybe not a lot at first, but over time I intend it to become a large part of my income. This would give me the freedom to work less or to retire early.
In any case, it will give me more choices.
In the below video, I introduce my Youtube channel and explain how I invest.
If this sounds like something you are interested in then please subscribe to this blog and subscribe to my youtube channel for more updates.