I decided to alter things a little bit and instead of presenting you another boring excel with some numbers I would like to describe you what I did, what I improved this month and what I’ll be doing next month to improve things.
I decided not to publish my exact numbers anymore, my user base increased and I think that if you live somewhere where the GDP (gross domestic product) is higher or lower than what’s in my country, you could lose track about the essentials.
The essence of this blog
It’s a financial adventure, I’m trying to plant some financial seeds and see them grow. It’s all about sharing what I’m doing with my investments and maybe you could learn something from them. It’s all about financial education and how to take control of your life.
I like presenting you the alternative ways of creating an extra income that could change your lifestyle completely. I won’t filter the bad experiences from my investments, I want you to see that not all milk and honey and it’s quite different from a normal job.
Tolerance to risk
This brings me to my next point, everyone has a different risk tolerance and that’s fine, it’s part of who you are. For those of you that are risk-averse, you should know that you can increase your risk tolerance slowly in time if you really wish to do that.
I was risk-neutral and I wanted to be able to go to the next level, to cope with higher risk levels. My mentality didn’t change overnight just because that’s what I wanted. It took a few years, expanding my long-term investing mentality, having a track record of what I was doing and not changing my mind after a decision was made. Slowly, I was able to experience far more risk than what I anticipated and it changed my life into something amazing that’s hard to describe.
Net worth update
This month some things went south in the stock market, even if I anticipated that it’s not heading in the right direction I didn’t want to sell my shares. I was foolish to wait… and I’m still waiting, after an 11.6% drop in that area. The problem that I have with stocks is that I’m way too exposed and that has to go lower.
The reason why I didn’t withdraw from the stock market is that I didn’t find another investment opportunity good enough for me. I was hunting for a #3rd website where I should invest, but I couldn’t find one fast enough. The experience proves me that website investing isn’t as scalable as I would like it to be, but patience rewards those who wait.
This month ended with a hit in my net worth, down by 1.27% and it’s because I was careless and didn’t take enough action. I have a small chunk of my money just staying still, not producing any extra cash flow in my system and that’s not a good thing to have for a long period of time.
I created a small list of what I should prepare for my next month, everything here is doable and I shouldn’t waste time.
- Find a new investment opportunity
- Finish reading a book that I keep avoiding “Awaken the giant within” by Anthony Robbins
- Create another article for the broad public
- Improve content in one of my sites ice cubicle