I just closed my first month with wealthios. Wow.
So I decided to write a review once a month and once every quarter I would publish my quarterly report on the progress of my wealth.
So let’s take a look on April.
April for me in Germany was the first complete month with a lockdown situation.
Although I’ve actually been home since March 15, I didn’t work at all in April.
My main job at the moment is in the gastronomy, specifically in the Bar of a restaurant chain.
This means that I may need to stay home for a few more weeks as gastronomy will be one of the last to open.
So let’s get started …
The net family income for April is 3,267€, which is 4% less compared to March.
Due to the lockdown at home, my income has decreased and it may continue to decrease for the next period.
This is due to 2 factors.
I do not take tips. The tips are an important part of my own income, as a result of which my total income is reduced.
My salary WILL be reduced. Although for the Month of April and May I will not see significant differences in my income compared to before, if this situation continues my net income will decrease further by 40% from June onwards.
But in order not to be ungrateful, again our income remains in good condition, much better than others around the world and at the same time I have not and probably will not need to touch money from the emergency fund.
Due to the situation with the virus, I decided not to invest new money in April. Not even in my emergency fund.
I chose to raise a small amount of money and monitor developments around the virus and state measures around the world, especially in Germany.
Another reason I decided not to invest anything this month is that I want to put aside a sum for our summer vacations.
I plan to go for 3 weeks at the end of June with my wife in Greece.
Although we will not have to pay for accommodation, the cost of vacation is quite high in Greece.
Yesterday I booked our plane tickets which cost us a total of 350€ and I hope we do not have any unexpected changes and cancellations with our flight.
Simultaneously with our vacation, I intend to become a godfather for the first time. That’s an extra cost I have to calculate so I have a budget of 3,000€ total costs including our airline tickets.
I may not have placed any new money anywhere in April, but I have 2 changes to share with you.
Etoro Main Account
I am a long term investor which means that I do not make many changes in my positions.
In 2019, to understand, I closed only 4 positions in the main account. They were 100% profitable and I reinvested the capital and profits of course in new positions.
This year I have already closed 4 more profitable positions, 2 of which were this month.
Gold went up a lot and I thought it was time to close 1 position in GLD (gold etf) and another position in GDX (VanEck Vectors Gold Miners ETF)
Here you can also see the performance of my positions. Note that their yields are free of leverage. At the moment, all of my positions have no leverage.
Capital gains and profits were reinvested in Bitcoin.
The purpose of my basic Etoro account, as I mentioned in my profile description, is to be able to make money or beat the performance of the SnP500.
I consider this index to be one of the most important on the planet as it contains the 500 largest listed companies in the US Stock Exchange and for this reason I always compare the results mainly with this one:
SnP500 Year to Date: -9,85%
Main Etoro Year to Date: +20,83%
Crypto Cold Wallet
If you have read some articles from my site you will already know about the bud experience I had with bitcoin a few years ago where I lost 25 coins from the collapse of the Mt.Gox platform.
Although I completely trust the Etoro platform, one thing I’ve learned over the years is to try to answer a simple question.
What if something happens that I don’t expect or anticipate?
That’s why it’s time to take out a fairly large portion of my bitcoin and place it in a cold wallet.
I will talk in more detail about the importance of cold wallets and how you can use them in one of my next articles.
I will also not go into details about the amounts I transferred to my wallet in this update, but I will reveal the whole background and numbers in detail at the end of this quarter with my quarterly report.
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Some additional statistics for this month:
Total number of open positions in my main account: 195
Best open position: Tesla with 211% performance
Website visits: 52
Page views: 1,471
That’s it for April.