Happy new year, everyone!
I have now spent the last couple of months building and testing this blog, and now it it time to get to work and add some solid contents.
First up: The official start of The 500K Challenge!
The turn of the year marks the official launch of the blog, and this post will be the “pilot show” of my side project, The 500K Challenge, in which I will share my experiences trying to reach a couple of lofty goals for at small time private investor.
Why this challenge?
Well, first of all I just really love a challenge, and I have always been the type of person to set goals for myself, make graphs, stats and tables of my progress and record basically everything in the process.
But I also find it very inspiring to read about other peoples journeys towards a future goal. Be it investment goals, climbing Mount Everest, weight loss challenges or something completely different. So besides documenting the progress for my own amusement, I also hope to pass on a little inspiration to others. Please let me know, if I do…
Basically these money will end up being my pension for when I get old and wrinkled and my head, hands or both gets too slow to bring in the required profit from the Betfair Exchange markets. So the primary purpose is more based on necessity rather than luxury. I do, however, have a lot more thoughts and dreams on the whole concept of saving money, but I will write a post on that on another occasion.
So, lets get this going and let me state the goals of the challenge:
I really should have started this a loooong time ago. Having just turned 40, time is not on my side, but it’s never to late to start, right? Anyway, with a 20 year time limit, I feel the need for at halfway goal:
A couple of lofty goals considering I have only just begun my investment adventure. But with time to work with, they should be achievable, and who knows what will happen during this time. Maybe the major breakthrough is right around the corner, making these goals seem ridiculous.
My line of work gives me a platform to work from, as it requires a pool of money to work with. So “ground zero” is not really a big round 0, and through the second half of 2018, I have taken a sneak peak at some of the investment opportunities out there and build myself a small but hopefully growing portfolio of investments.
- Real Estate: 0,00 €
- Stock Market: 2.496,26 €
- Crowdlending: 1.845,90 €
- Sportsbetting: 4.000,00 €
- Betfair Trading Bankroll: 13.386,70 €
- Cash reserve: 3.921,12 €
Total Portfolio Value: 25.649,98 €
So, there you have it! My total portfolio value has just passed 25K €, which is obviously better than nothing, but also leaves a lot of work to be done.
I have chosen to include my working bankroll to the total portfolio value. After all this is also an active investment from which I make a living and withdraw my monthly salary.
New investments will only be added when I have some spare cash after withdrawing my monthly salary, so my success in the markets will be the key to reaching the goals.
Sharing the progress
Going forward, I will write a monthly update on the challenge including new investments, statistics, a short update on each area of investment and maybe some thought on the strategy.
If you want to follow this and see me succeed or fail misserably, be sure to subscribe to The Trading Dane.
Happy new year, once again!