Quarterly update (2nd quarter 2021)

by fireninja

The second quarter has also flown by! As promised, we look back on the past quarter every quarter and discuss our plans for FIRE for the coming quarter by category.

FIRE

Retrospect: With this chapter FIRE we mean the theory and our knowledge about becoming financially independent. Over the past period, we have delved further by reading articles and the book Financial Freedom. Due to our busy schedule, we were unable to spend as much time on this topic as we had hoped.

Outlook: we will continue to delve into the theory in the coming quarter. Here we plan to read the next book: Your Money or Your Life. In addition, we will continue to follow the DutchFIRE sub reddit and we will read several blogs related to the topic. We will then try to apply new information and share it with you.

Save

Retrospect: As announced, we have not been able to make major steps in terms of savings and we even have had extra unexpected expenses (medical, nothing serious fortunately). However, we are now more consciously engaged in negotiations, as you could read in an article we recently posted. If you want to know more about our savings, check out our articles in this category: Savings

Outlook: In the coming quarter Mr FIRE Ninja will be changing employers. We plan to exchange our 7-seater (way too expensive) lease car for a cheaper one. We find this a difficult choice. We have to look for the balance between the lowest possible costs and remain able to go to places with our large family…. to be continued.

Income

Retrospect: Last quarter Mr FIRE Ninja found a new job with the same salary, but for 36 instead of 40 hours a week. This allows Mr FIRE Ninja to spend more quality time with our 4 boys and at the same time save +/- 240 euros in day-care costs. A nice win-win that we will certainly notice when we compare our distribution of income and expenses with last year at the end of this year. To learn more about our efforts to increase income, check out our articles in this category: Income

Outlook: In the coming period we hope to see confirmation that our income has indeed increased due to the job change and driving a smaller lease car. In addition, we will look at what other side-hustles we can think of or find that contribute to a higher income.

Investing

Looking back and ahead: The past quarter was quite turbulent in terms of investment. We made quite a few mistakes. We had made insanely high returns in cryptos and got so eager that we converted our ETFs too…stupid stupid…we know. In addition, we thought we could time the market…..again…stupid. Who could have predicted the crash…Haha, but we have learned our lesson and at the bottom line is that we are still in the plus. From the beginning of the year until now we have a interest yield of+113.65%. This could have been more than triple, but due to the crypto crash, this is what it is and we won’t complain. We have not sold our Crypto and do not want to do so now at such a low point. We will keep this one but will be investing the majority of our monthly space in ETFs from now on. Our breakdown is currently as follows:

We have more confidence in Ethereum over Bitcoin because of the high applicability of Ethereum. We have therefore sold all our bitcoin and are mainly betting on VeChain, Ethereum and Cardano. In addition, we want to invest part of our portfolio in risky “unknown” coins with a potential of x10 or higher. If this results in nothing, than so be it, but if it succeeds, it can significantly shorten the trip to FIRE. Our crypto portfolio on June the 30th:

Since we’ve relaunched ETFs, we’re going to stick to the 85/15 ratio as much as possible and adjust it quarterly. To keep this simple, we now only invest in two Northern Trust funds that fairly represent the entire market. We have currently invested in the following funds:

More information about our experiences with investing can be found here:Investing

Do you have any questions or comments? Let us know by leaving a comment!

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