Financial Independence · investing

June 2020 Portfolio update: Grupeer presents their plan to repay investors

Investment update in June 2020

The stockmarket didn’t really seem to know what it wanted this month, we had a few drops and a few rises, but in general nothing to indicate that corona is behind us or that we are tumbling into a deeper crisis. I guess the stockmarket really hasn’t made up its mind. Its not unexpected given the record breaking infections that we see across the world and especially in US that is dominating the stock market.

Last month I decided to write off all investments I made in Grupeer as they were officially 60 days late on repayment. As a reminder I had a big investment there of 9000 EUR, so it was a very difficult decision to make. Grupeer remains the center of attention this month and since last month, together with other investors, I have employed a lawyer to assist us to retrieve our investments. On the other side Grupeer has just presented their initial version of their plan to repay the investors. But more about that bellow.

In my personal life since I had a lot more time to spare by no longer travelling and working from home I have taken up various sports. I managed to sport 42 hours in June! Partly due to holidays of course that gave me more time for this, but also because I have been looking for new sports. Right now I am doing mainly mountainbike, tennis, kite and gym. So yes I do spend much more $ on sports these days, but I really put the goal for myself to get into shape and try to enjoy the summer. And at the end of the month its really nice to see the results in Strave, which is my n1 App to track all my activities:

Image result for I am not a financial advisor

My Portfolio

My Portfolio has risen slightly to 64498 EUR mainly because of additional investments. Its good to see that after a few months of a dropping portfolio I am making a recovery.

On the bellow graphic there is three movements that are very clear this month:

  • Continue the sell off of my peer to peer portfolio, so transfered a little over 600 EUR from peer to peer to ETFs
  • Invested about 1300 EUR extra in ETFs on top of the 600 EUR that came from peer to peer
  • The stock market remained stable this month

Lets look into more detail for each of these investment types shall we.

ETFs

It seems the stock market is stabilizing and has no idea if it should move up or down. I made a modest profit this month of 52 EUR, mainly thanks to my IShares Core MSCI EM IMI UCITS ETF (CEMU) that performed really well

Inception DateTotal PortfolioMonthly P&LTotal P&L
SPDR MSCI World UCITS ETF (SWRD)31/01/202031411-95-3126
IShares Core MSCI EM IMI UCITS ETF (CEMU)28/02/20202211147-243
Total ETF Portfolio30/09/20193362252-3369

At this point I am really happy I limited my portfolio to just two ETFs, it makes it so much easier to track! And I keep finding it very easy to invest with DEGIRO, I am really happy I chose DEGIRO as broker!

SPDR MSCI World UCITS ETF (SWRD)

My World ETF has made a small loss this month but nothing to worry about

SPDR MSCI WORLD UCITSTotal PortfolioMonthly P&LTotal P&L
31/01/202025160.4100
28/02/202023674-3852-3852
03/31/202022851-3362-7214
30/04/2020290343627-3587
31/05/202029590556-3031
30/06/202031411-95-3126

ISHARES CORE MSCI Emerging Markets IMI UCITS ETF

With a 137 EUR profit it was a second best month for this ETF this year.

ISHARES CORE MSCI Emerging Markets IMI UCITS ETFTotal PortfolioMonthly ProfitTotal P&L
31/01/2020244800
29/02/20202249-205-205
31/03/20201918.38-331-536
31/04/20202099182-354
31/05/20202064-36-390
30/06/20202211147-243

Peer to Peer

I will no longer keep track of the income I am getting into peer to peer. Instead I am showing the withdrawals here. I sold on the secondary market where possible, but without giving huge discounts. In total I managed to withdraw an additional 2% this month, putting me on 47% withdrawn up to date, which is not bad considering these are long term investments.

PortfolioStartTotal at 29/02/2019Left inpeer to peerExpected end dateMoney left to withdraw
Crowdestor30/09/20192974297907/02/2022100.17%
Grupeer30/09/201989908990In Legal procedure, awaiting Grupeers plan100.00%
Iuvo Group31/12/2019224004/20200.00%
Kuetzal30/09/201910051005Defaulted. In Legal procedure100.00%
Mintos30/09/2019998286501/06/20218.67%
NeoFinance30/09/20191273004/20200.00%
PeerBerry30/09/20192548109405/09/202242.94%
TFGCrowd30/09/2019143421017/09/202014.64%
Total30/09/2019284301514305/09/202253.26%

CrowdEstor

  • I was not able to withdraw anything from CrowdEstor this month, but I expect I can finally start next month as interests are coming in again. As you can see bellow I am expecting quite decent amounts to come in the coming month!

Grupeer

Grupeer has officially defaulted with more then 60 days of delay on my withdrawals. I wrote off Grupeer but there is two points of light at the end of the tunnel that give me hope of recovering some part of my investment.

Legal action

I have grouped together with other investors to prepare a law suit for Grupeer. The main goal of the legal action will still be to ask Grupeer to repay the investments as planned and not to resort to bankrupting Grupeer.

Unfortunately everything is confidential, so I am not at liberty to discuss anything not public here. All I can say its being prepared right now, and it feels good to have legal representation.

Plan from Grupeer

The other point of hope is the plan from Grupeer. Yesterday Grupeer posted they have analysed their portfolio and decided there is 5 Groups of investments / Loan originators.

Group 1: This includes money that was not yet invested mostly and can just be transfered back

Group 2: These are good Loan Originators that are willing to continue payment. They will announce in 2 days if payment will be resumed.

Group 3: These are Loan Originators that have financial problems but are planning to present a repayment schedule by the 20th of July

Group 4: These are Loan Originators that basically refuse or cannot pay anymore. Grupeer states they will prepare legal action against them

Group 5: These are Loan Originators that have not decided yet what to do. They might land in Group 3 or Group 4.

I mostly invested in loans on Grupeer and based on this its clear that it was mainly the B2B that have a lot of issues. The P2P are doing better. I have analysed my portfolio to find out how good / bad I was off and found the following results:

 [visualizer id=”3020″] 

That means that 75% is hopefully in a recoverable state. 3% is probably lost and 22% is unclear but at high risk. All in all my portfolio is not doing that bad, if Grupeer is telling the truth I can hopefully recover a large amount still. As you can see at the graph bellow my portfolio is also doing much better then the average portfolio.

Grupeer does point out it all depends of their bank accounts getting unfrozen, and its not clear yet if that will happen. If it happens then they will resume operations from the 3rd of July for Group 1 and Group 2. Exciting times!

Kuetzal

I am in a legal procedure with Kuetzal and cannot comment on any non-public information. There is also nothing new to add, I expect the next update to be somewhere in my blog from August.

Mintos

I have managed to withdraw about 93% of my cash from Mintos already. My last loans are for 95% in Capital Service, and this is suspended from the secondary market unfortunately. I managed that right now the pace of further withdrawals is going really really slow. Additionally most of my funds are currently stuck in pending payments. All I can do is wait and hope that Capital Service will recover and make faster payments soon.

PeerBerry

Withdrawals are going slow but steady and I managed to withdraw another 80 EUR this month. So far 58% is already withdrawn.

TFGCrowd

I managed to withdraw another 500 EUR of finished projects this month! Im amazed to see the recovery of TFGCrowd. I have one project remaining where I have 200 EUR of principal in, that finishes in September. So far I managed to withdraw 85% of my investments!

My final project is a real estate project in Cambridge. A really good area, so what could possibly go wrong?

Startups

I still have 3500 EUR in startups, right now there is nothing new to report.

Retirement funds

I decided not to update my retirement funds all the time since for most of the funds I get an update just once a year, so I will update it also just once a year. This is from end of 2019. I will update it again in December 2020.

November 2019Current Value
KBC Pension funds7999
First job Pension plan1467
Second job Pension plan592
Third job Pension plan12084

Wins / losses this month

  • My ETF Portfolio made 52 EUR profit
  • Some light at the tunnel for Grupeer, is there a chance I can recover some part of that investment?
  • I tried Kite Surf for the first time and loved it!
  • I also subscribed to a Gym membership, my new gym has something called an egym to help you progress easier on the level you are at

What is next?

  • I will be waiting full of tension to see if Grupeer actually starts repayment the 4th of July or not
  • I want to try to drink less alcohol, as a way to get more into shape. So I am going to try to say no to alcohol the coming month. This with the exception of birthday parties.

I will also post a savings rate update soon! Subscribe and make sure you don’t miss any of my monthly portfolio updates!

Personal

Going on vacation to Luxembourg during Corona times | June update

Read my other blogs about my life during Corona:

Its now June Belgium has been stuck in the age of Corona for 3 months now. But again a month has gone by, read bellow what was changed and how this affects my life!

  • The borders have re-opened, since the 15th of June Belgians are welcome in plenty of EU member-states again. And I will use this opportunity to do a small trip abroad, but more about that bellow
  • Restaurants and bars have re-opened finally! I don’t see many people sitting inside yet, but plenty of people are outside on terraces
  • Indoor sports are allowed again
  • You can now have a “bubble” that means you can invite up to 10 people at home. Every week you can change your bubble, so you are pretty much allowed to see anyone you know again.
  • Mouth-masks are still obligated on public transport but nowhere else. That unlike other countries where they are allowed everywhere again
  • Some schools / classes are open, but not yet all of them
  • Picnics and sitting down in public areas is now allowed again
  • The last update there was 1448 in the hospital and 277 on intensive care, today there is 308 people in the hospital and 50 in intensive care in Belgium so that’s another huge drop!
  • Tourism is allowed again but events are not. The event sector feels a bit bypassed I am sure, but really its understandable that events with 1000 people are not allowed. We need to avoid a second lockdown, and large amounts of people together is just not a good idea right now..

Update on my personal life

I have really gotten used to this new way of life. When I finish work I am already at home, I didn’t had to use my car or the train to get home, and I feel very refreshed. I am using this extra energy to do more sports.

  • I sport about 6-8 hours / week now. Mostly tennis and mountainbike, but I am open for a new sport
  • I have met friends and colleagues after work to sport together, or to go to a bar and do a terrace. I still avoid going inside restaurants or bars.
  • I feel much healthier and less stressful. I don’t know if its because I work from home or sport more often.

How are things at work

I have now been working for 3 months! I gotten so used to this way of life.

  • I went to have beers with colleagues several times now. It was good to see them again
  • I really do feel I could use an extra room to have an office in case I need to work longer from home in the future
  • Working at home has been extended until end of September, and even then nothing is certain right now

Upcoming trip to Luxembourg!

I have actually planned a trip! I am going to Echternach in Luxembourg, and I am leaving tomorrow (22nd of June)!

  • I am just going for a few days. The area is known for (apart from the beautiful old town of Echternach), walking, cycling and kayaking
  • I am driving there by car, somehow I don’t think stepping into an airplane is a good idea right now
  • I am staying in Germany across the border because it was much cheaper (75 EUR / night in a really nice hotel 10 minutes from Echternach)
  • Germany and Luxembourg have different rules then Belgium. Mouth-masks are more obligated there so I will pack some extra
  • I am sure travelling will be different, but as I plan to do mainly outdoor activities and the weather is looking great, I do feel its just as safe as in Belgium right now

I will report next month how it went, and whats its like to travel in these times. Hopefully I can add some of my own photos then, but for now I will post some stock photos bellow so you have an idea of what to expect..

Echternach the city
View of a waterfalls you can encounter on a hike near Echternach

How are my investments doing?

The stock market keeps going up slowly. So far I have good hopes that in a few months the stock market will be recovered fully, especially considering that we are getting closer and closer to a vaccine. I hear the Oxford vaccine (if it works) might already be available in the UK in October. So perhaps in Belgium by December?

Last month was terrible for searching a house. Almost all houses got sold instantly. I do have the impression that real estate agents are still working to work trough their backlog, and things are improving slowly. I keep looking and hopefully I will run into something I like soon.

Follow me if you are interested to see how I manage to cope with these crazy times! And remember stay healthy!

Financial Independence · saving

How cycling will help you reach Financial Independence faster

Hobby’s can have a bigger influence then you think about Financial independence. Remember every euro you spend is a euro less you can invest. I have done a dozen of different hobby’s in my life, sailing, surfing, horse riding, scuba – diving, running, swimming, .. and the list goes on. Until I knew FIRE I never really tried to balance the fun it gave me with the cost. If two hobbys give you the same amount of fun then why would you not go for the cheapest hobby?

What do hobby’s cost?

I do not think you should hold back with spending of your favorite hobby. Even if you chose a more expensive hobby. I do think you should control yourself on spending a lot of money on different hobby’s. Generally hobby’s become cheaper the more time you spend doing them. In the initial stage you will usually spend a lot of money on classes and rent of materials. Once you both have the knowledge to do your hobby and the equipment then things will become a lot cheaper for you and things will come down more to maintenance cost.

At the top of the class we have the most expensive hobbys. Yacht sailing for example. Once you passed trough the training lessons it can cost a few 10.000’s to get your own Yacht. Flying airplanes or Hot Air Baloons fall in the same category. You could of course limit yourself to taking classes and renting equipment. But if you plan to do that every week it could get expensive fast.

In the middle class we have hobby’s horseback riding, diving and sailing smaller boats. Even a smaller boat like a laser can cost 5000 EUR to get it. Additionally you need room to store your boat. The same goes for a horse, the costs of a horse are similar to a small boat, but you will pay a bigger maintenance cost. It needs much more room then a boat and of course you need to feed it every day, costing easily a few 100’s per month. The equipment of a diver is not so expensive. You probably have a full kit for 2000-3000 EUR. But you will still spend a lot on gas or travelling to go diving in your country or abroad.

In the lower end we have hobby’s like cycling, walking, swimming, running, playing board games, gaming, dancing, … These usually have a low startup cost, and do not need much maintenance. Probably you can budget less then 100 EUR per month for these and that should be enough.

Why I chose cycling as my main hobby

I got into cycling rather by accident. My sister let me ride her mountainbike and I really liked the way it drove. At some point she convinced me to get my own and I participated in my first tour. The tour was organised, costed about 5 EUR to join, and was about 30 KM. During the tour we met two checkpoints where we could eat and drink all the snacks we wanted. There was signs put up everywhere along the road to make it easy for cyclists to follow the road. I loved the landscapes, nature and I was incredibly surprised of the value for money I was getting here.

It was actually a very painful 30KM, especially the last 10. I was not prepared at all, my tires were at 1 BAR (recommended is 2,5-4 BAR), and I had a big backpack holding some extra drinks and equipment. This made my first ride quite a challenge in terms of effort. But I was happy, I loved it and I had finally found a hobby that I liked and was surprised how affordable it was.

How much does cycling cost?

Just to be specific, the type of cycling I am doing is mountainbiking. I started one year ago with a beginners bicycle I bought at the decathlon. It costed 300 EUR. Of course the type of bicycle is important for your speed, you will go faster with a lighter bicycle, but I do not have that much trouble to keep up with friends or colleagues, in fact at this point I can out-cycle even some of them with a more expensive mountain-bike. At the start of your cycling career getting condition is actually the most important.

My Mountainbike that I purchased for 300 EUR

After you get the cycle I recommend to also got the following:

  • Some kind of membership or subscription. I got myself a membership at Cycling Vlaanderen for 30 EUR. Apart from slightly cheaper tour costs they will also recover you if you have an issue with your bicycle
  • An extra spare inner tire (3,5 EUR) + pins to help you change the tire (about 1 EUR)
  • A holder for my phone, this way I didn’t had to buy a GPS (20 EUR), and I could do tours by myself
  • Extra Power-bank (20 EUR): I needed this to recharge my phone for rides over 55KM
  • Wireless Earplugs for music (30 EUR)
  • A bag for extra gear I can tie to my bicycle (10 EUR)
  • Watterbottle (10 EUR)
  • Helmet (30 EUR)
  • Sunglasses and Rain-glasses(35 EUR)
  • Click-pedals and click-shoes are needed for winter and steep trails in summer (100 EUR)
  • Summer clothing (50 EUR): short trousers, shirt
  • Winter Clothing (200-250 EUR): jacket, long trousers, shoe protectors, gloves, light warm sweater
  • Organised tours cost about 5 EUR each, I do about two per month. The advantage is you get free snacks (all you can eat!) on the tour so you almost save money by participating. Often I also get a free sandwich, fries or a beer after the tour.
  • Powerbars + Energy sugar to mix with water

So year one to startup / total costs was about 1000 EUR. It seems a lot but I did not buy everything at once. If you start in summer you can just start with 500 EUR, and the rest of the year you can slowly build up your gear. Year two will be a lot cheaper since by now I have most of my gear (of course there will be a maintenance cost), which goes back to my first point that every hobby has a startup cost.

With this gear I am able to cycle by myself for long distances in both summer and winter, up to 80 km per trip so far, so for a beginner its really enough.

I estimate I will spend about 400 EUR in year two. 100 EUR for maintenance on the bicycle (I try to do most myself but I cant do everything), 30 EUR for a membership fee, 150 EUR for entries for tours and events, 70 EUR for food (powerbars), and 100 EUR for new clothes if required. I might need to set some extra aside as well for a new bicycle at some point.

One more point. I also really LOVE to cycle in nature. So apart from choosing a cheap hobby I am also happy to have found something I really enjoy.

Additionally I can save some parking costs because I more often take the bicycle to meet with friends, you might save on health costs in the long run and if there is a lockdown you can still visit family and friends 😉

And why not consider replacing the car by cycling all along? Right now thats one step to far for me, but its good I will have the ability and the condition to do this if it would be needed at some point.

Let me know what hobby you do!

So what hobby did you chose? Do you know what it costs you? Please let me know bellow in the comments and don’t forget to subscribe 😉

Early Retirement · Financial Independence

Setting my first FIRE number: when can I retire early?

How could I have FIRE blog without a plan to retire early? Its time to change that!

What is a FIRE number?

Your FIRE number is the number you need to retire. Its the amount in investments you need to reach before you can officially say you have enough money to no longer work for the rest of your life.

While many European Countries give a pension this pension only comes at a late age. In Belgium its 67! It might be that by this age the age has moved back again. You shouldn’t take the risk to let the government decide on when you can retire. At the very least you need a backup plan.

How do you find your FIRE number?

So how do you calculate that number? The first thing you need to do is to track your expenses. If you don’t know what you are spending you will not know if you can retire or not.

Once you have written down your monthly expense every month for at least a year, then you can calculate your fire number. You just add all months up together then you divide it by 3.5 and you multiply it by 100.

3.5% is the number you could withdraw reasonable safe every year from your portfolio without needing to worry about money for the rest of your life. The stock market still goes up 6-7% by average so normally your portfolio should even grow with this number.

There is different numbers outthere. Most of the FIRE community choose 4%, and actually 4% is quite safe for the majority of the time. But I feel its always good to build in a little bit extra safety. But if the stock market goes up 6% per year why not choose 6% as withdrawal rate.

Well first there is inflation you need to keep into account, but secondly if you choose your number to high and you retire just before a big financial crisis hits then you could be in trouble. The worst year to retire was actually 1929. The second worst was March 2020, just before the dot com bubble busted.

On reddit I found a post of someone who tracks the portfolios of people who retired early in march 2000. This is how their portfolio survived based on their withdrawal rate. Check out what happened bellow:

It is not looking so good with their portfolios. However do not panic, we need to keep in mind this was the second worst period to retire. The odds that this happens to you are rather slim. And even in these times of big economic crashes, most portfolios are still surviving. We can see the 2% and lower are very safe choices.

So why did I chose 3.5%? Well firstly at 67 I expect a goverment pension. So I do not need my money to last a lifetime. If all else fails I can fall back on that. As you can see on the graph 3.5% can easily survive long enough to reach 67, even in the worst of times. Secondly I will also diversify with property so that if one investment is doing bad I can fall back temporarily on the other. 3.5% return net is realistic in Belgium on property. Should my retirement age get closer to my pension age (such as 55 for example), I will probably switch to the 4% rule.

So lets calculate my FIRE number

Now as I have been tracking my expenses rather well last year, and even better this year, I feel its really time to calculate how much I need to retire early.

According to my data in 2019 I had a total expense of 29501. Now there is some notes to make here. I drive a company car, have a company laptop and my company pays for my mobile phone subscription. These are all items I would need to take into account. So normally I should foresee some budget for that. However I am also currently paying off three loans (as you can see in my yearly expense). I do feel that I will make sure that I am loan free by the time I retire, so these will balance off.

So if I count make the calculation 29501 / 3.5 * 100 my FIRE number in 2019 was 983350 EUR! This is the amount I need to have in investments to be able to retire.

I guess this is why I never calculated it. I expected it to be HUGE. And it is. It shows that in 2019 my expenses were way to high. Most months I spend around 3000 EUR and now its clear that this was just way to high and I should live more frugal. Corona really helped me with that. Instead of going to restaurants or to bars I ended up having picnics outside. True…it did came on the right time, it was spring and we had some really nice months, but I still feel I can beat my last years expenses and do much better without going back on life quality!

So when can I retire?

Some people set their FIRE number and then do not change anymore. I noticed that my expenses change slightly every year. If I manage to lower my expenses then my FIRE number drops. If I spend more then my FIRE number goes up. I decided I will update my FIRE number every year based on the expenses of the last 12 months.

Now that I know how much I need to retire based on my expenses of 2019, I can also calculate when I can retire. However in this phase of my life there is just to much uncertainty. I am looking for a house, I might still have children, I don’t know how much my future partner would make, if she would be on board with FIRE or not,…

But I can calculate how far I am along. I know it will be depressingly low but seeing the number go up every year will be so motivating, that’s why its important to write it down, even if there is such a long way to go!

Now when looking at my monthly portfolio I only want to take into account my liquid investments. I do have a portfolio with retirement savings as well, but they will not come free until I’m 67. While I really do support to have them, as they will give an extra boost at retirement, I will not be able to use them right away if I retire early.

I have a total of 37256 EUR in my portfolio. First the good news, having this amount of money means that every year I would able to safely withdraw 1303 EUR. While this is a nice amount, nobody can really live from that. The bad news is that if I calculate that its only 3.7% along to retire early. But at the same time if I listed this in 2018 it would have been even a lot lower.

What I don’t want to do at this point is calculate how long it will take me to reach that. Even in the very short term I feel so much can change in my life, I rather just measure it every year and once I am closer to the end I will add a timeline.

I plan to work on both raising my investement portfolio and lowering my expense ratio. I feel if I manage to keep improving both sides then I will grow faster and reach that early retirement. Remember its a marathon not a sprint and creating your first fire number is the first step in reaching the finish line!

Progress to FIRE

Along with my FIRE number comes a brand new meter that will track my Roadtrip to financial independence!

[ultimeter id=”2861″]

Interested to follow my progress? Follow me and join me on my Roadtrip to Financial Independence!

Financial Independence · investing

May 2020 Portfolio update: Grupeer has gone into default!

Investment update in May

First off I want to start with announcing that I added a new page on my blog keeping yearly statistics. Check them out here. I plan to update this page once a year around May.

With Europe slowly recovering from the Corona crisis as shops and restaurants start to open again all over Europe we can see that last months recovery in the stock market continues. It might be strange to see such a good recovery with so many companies going bankrupt, but we can’t forget governments worldwide are pumping money into the market like crazy. As a result its not really the stock market that goes up but rather the value of money that is going down. Stocks seem to be a safer haven then cash right now.

On the peer to peer market I have rather dramatic news. What I highly suspected would happen has happened. The peer to peer site Grupeer has now over a 60 day delay on payment and is therefore officially in default. Its very difficult to predict what amount of money I will be able to recover here. Its quite hard now to decide if I will already write off this investment while there is still several ways to recover. First is that Grupeer comes trough and continues payments. Grupeer has posted on their Website that they will present a plan in June. So there is a chance that Grupeer will come up with Payments themselves. The second path is by using legal council. Also this path I am exploring. Despite of recovery options, their defaulting leaves me no choice and I have decided to write off the investment. This means I no longer see it as an investment but as a place where I must try to recover money.

I am unable to travel for work but I have grown quite accustomed to working at home. Working from home really works for me. I know it only works because everyone else is also working from home. If I were to be working from home and others went to the office, being a manager, this would not work. I do hope that the company will remember how easy the transfer was, and how efficient we have worked.

I have found to have more time for sports, and have been cycling a lot. I posted last month that I had back issues and this made it hard to cycle. My back has improved a lot since April. I saw a good doctor and he prescribed me some medicine I have to take right before I cycle. This seems to help a lot and my back is doing much better. I feel confident in cycling long distances again!

I also started to run, but I have given up on that. After I ran 10km I found my knees were hurting a lot. I enjoy cycling much more so I am not going to continue running for now.

Image result for I am not a financial advisor

My Portfolio

My Portfolio has made a sharp drop to 62989 EUR caused by having to write off Grupeer as an investment, pretty much decimating my peer to peer portfolio.

On the bellow graphic there is three movements that are very clear this month:

  • Selling off my peer to peer portfolio
  • I wrote off 100% from my Grupeer investment
  • I lowered my investments in ETFs to balance my investment more with my income. I will be investing about 750 EUR / month from now. Once travelling is allowed again I will increase it again.
  • The recovery of the stock market that started last month keeps going!

Lets look into more detail for each of these investment types shall we.

Peer to Peer

I will no longer keep track of the income I am getting into peer to peer. Instead I am showing the withdrawals here. I sold on the secondary market where possible, but without giving huge discounts. In total I managed to withdraw an additional 3% this month, putting me on 45% withdrawn up to date, which is not bad considering these are long term investments.

PortfolioStartTotal at 29/02/2019Left inpeer to peerExpected end dateMoney left to withdraw
Crowdestor30/09/20192974297907/02/2022100.17%
Grupeer30/09/201989908990Defaulted. Preparing legal procedure100.00%
Iuvo Group31/12/2019224004/20200.00%
Kuetzal30/09/201910051005Defaulted. In Legal procedure100.00%
Mintos30/09/2019998286801/06/20218.70%
NeoFinance30/09/20191273004/20200.00%
PeerBerry30/09/20192548118405/09/202246.47%
TFGCrowd30/09/2019143457317/09/202039.96%
Total30/09/2019284301559905/09/202254.87%

CrowdEstor

  • Crowdestor has finally continued to give interest. The recovery period is ending and by the looks of it we are returning to normal. Many of my investments have announced that they would not be using the recovery period but would be paying interest as normal. I have a few investments ending near the end of the year, so from that time I will be able to withdraw. So far this is one of my biggest investments. I should be out fully by 07/02/2022.

Grupeer

Grupeer has officially defaulted with more then 60 days of delay on my withdrawals. As a consequence I need to write off Grupeer as a credible investment and I now see it more as a place where I must try to recover money.

Grupeer has made a nice poster on their website stating their intentions to pay back the investors. In June they will present a plan on how they will do this. I really cannot wait to read all about their new plan. At the same time I am gathering with a group of other investors to get legal representation.

Meanwhile the site still works, and it seems that the site was re-winded to 31st of March. My withdrawals were not approved and the withdrawal button is disabled. I have gotten no interest for the months of April and May so far.

Kuetzal

I am in a legal procedure. While I cannot comment on specifics I can show this public announcement, since its publicly available:

Official notification from Harju County Court Tallinn dd 29.05.2020 Harju County Court Tallinn Courthouse publishes a notice on the basis of subsection 30 (2) of the Bankruptcy Act (PankrS).
By court order No. 29-20.2020 in civil case no. 2-20-2366, the debtor, Kuetzal OÜ (registry code: 14519131, address: Harju county, Tallinn, Kesklinna district, Narva mnt 7b, 10117), in order to prevent the termination of the bankruptcy proceedings and to cover the costs of the bankruptcy proceedings, the amount to be paid as a deposit in the account provided for this purpose shall be 3000 euros and the payment term shall be 12.06.2020.

Mintos

I have managed to withdraw about 92% of my cash from Mintos already. My last loans are for 95% in Capital Service, and this is suspended from the secondary market unfortunately.

Since Capital Service stopped paying, that also means that over half of my money is right now in pending payment status:

Right now I still have faith that Capital Service will recover once the situation in Poland improves. Mintos posted a short anouncement on their blog about this:

PeerBerry

Withdrawals are going slow but steady..

PeerBerry has called me personally to ask me what I would improve. I have mentioned I would like to see a secondary market. They have noted this down, and might add this in the future. Until then I just need to be patient.

TFGCrowd

I managed to withdraw 4/6 projects that finished this month. Another two actually were unable to pay. For those two projects I will need to wait for an additional 60 days for the rebuy has kicked in.

So far I managed to withdraw 861 EUR of the original 1434 I put in, and I should be able to withdraw 200 EUR in June, another 200 EUR in July and another 200 EUR in September plus interest. Its a high risk investment but one where I might actually make a profit on.

How are other peer to peer platforms doing?

I never mention this but there is other peer who also seem to be in trouble. To be clear I am not invested in these platforms right now:

  • Monethera has been declared insolvent so it’s not looking good for investors. It seems Monethera also had very close ties with Envestio and Kuetzal
  • Envestio: investors have united to sue Envestio since the website went down in January 2020
  • Wisefund: whoever has money inthere right now has their money at extreme risk. There is a recent secondary market but discounts offered are so high that its almost impossible to exit!
  • Bondera: bondera, a big and one of the oldest platforms around, is doing partial withdrawals now so people withdrawing will need more time to get their money out
  • Fastinvest: Fast invest was commonly suspected to be a scam, but still many people put in money. Now fastinvest is looking more like Fast Invest, but Slow withdraw. Withdraws are reported to have a month and a half delay! A telegram group has been created for those that are trying to get their money out.
  • Agrikaab: a crazy platform where you could invest in camels. This was even to crazy for me. Agrikaab has gone bankrupt. Good luck to some bloggers to get back their funds from Somalia, one of the poorest and most risky countries in the world to invest in!

ETFs

It seems the stock market is stabilizing, and my portfolio grew with a modest 520 EUR! Its very hard to predict what will happen the coming months. My general thought right now is that when the governments are floating the markets with money the price of money will go down and the price of stocks will go up. But this is quite hard to predict. Interesting times remain!


Inception DateTotal PortfolioMonthly P&LTotal P&L
SPDR MSCI World UCITS ETF (SWRD)31/01/202029590556-3031
IShares Core MSCI EM IMI UCITS ETF (CEMU)28/02/20202064-36-390
Total ETF Portfolio30/09/201931654520-3421

At this point I am really happy I limited my portfolio to just two ETFs, it makes it so much easier to track! And I keep finding it very easy to invest with DEGIRO, I am really happy I chose DEGIRO as broker!

SPDR MSCI World UCITS ETF (SWRD)

My World ETF has performed great this month, and I am 100% behind my choice of focusing mainly on this ETF.

As you can see there was a small increase of 556 EUR on my ETFs.

31/01/202025160.4100
28/02/202023674-3852-3852
03/31/202022851-3362-7214
30/04/2020290343627-3587
31/05/202029590556-3031

ISHARES CORE MSCI Emerging Markets IMI UCITS ETF

With a 36 EUR loss this month I would say this ETF has remains quite stable.

ISHARES CORE MSCI Emerging Markets IMI UCITS ETFTotal PortfolioMonthly ProfitTotal P&L
31/01/2020244800
29/02/20202249-205-205
31/03/20201918.38-331-536
31/04/20202099182-354
31/05/20202064-36-390

Startups

One of my startups where I have 100 EUR in has made an announcement that he has lost its existing customer and its quite hard to gain new customers. It might be the first victim in my startup portfolio of the lockdown.

Retirement funds

I decided not to update my retirement funds all the time since for most of the funds I get an update just once a year, so I will update it also just once a year. This is from end of 2019. I will update it again in December 2020.

November 2019Current Value
KBC Pension funds7999
First job Pension plan1467
Second job Pension plan592
Third job Pension plan12084

Wins / losses this month

  • My ETF Portfolio made 520 EUR profit
  • My peer to peer portfolio was decimated after Grupeer defaulted. Right now I have 5604 EUR active investments left in peer to peer.

What is next?

  • I feel like I need a second sport in addition to mountain-biking. I also sail in summer but that is more sporadic. I might try kite-surfing in June.

I will also post a savings rate update soon! Subscribe and make sure you don’t miss any of my monthly portfolio updates!