Months 15 of the 111 months early retirement has finished. Time for a summary
The 15th month of the #111Months challenge has finished and due to the global situation we are in, it was a month of a major step back. Both the share values and the crypto value dropped back. Eventhough the spending has been reduced, giving more opportunity to buy more Crypto and shares, the nett result was negative.
The proportion of loans on my total wealth has climbed up after a steady continuous decline. In the coming months, our government has suspended loan repayments, so the free cash will be used to increase exposure to shares, crypto and precious metals.
Also the passive income generation has suffered over the month of March and has dropped significantly. Even though the holdings of all passive income generating assets have increased and a new asset (Pi-Token) has been added to the list of passive income generating assets.
With March having been an extremely busy month, setting up another Crypto project while dealing with COVID19 issues in normal work, the blog has been neglected a bit. But a recovery is in place
The 13th month of the #111Months challenge has finished. 98 Months to go before early retirement. After some disappointing months in the Crypto world this was the first month showing some real recovery.
The proportion of loans on my total wealth has been decreasing steadily and is now dropped well below 40%, which means the nett. wealth is developing nicely.
The passive income is at a steady level and continuously increasing with increasing my stake in passive income generators like (in order of contribution):
In February $COTI will be added to this list through staking as well.
The wealth building has recovered from two bad month in Crypto and is back on track, well ahead of the target created when the #111Months challenge started.
After setting up the CITYUPTAKE passive income stream in 2019. In 2020 I want to add:
Cardano blockchain based passive income
COTI blockchain based passive income
Passive income through Pynk
For Cardano I joined the Shelley testnet and although majority of ADA is used to boost the CITYUPTAKE Trade Desk, still a portion is used to receive staking rewards. Waiting for projects like CITYUPTAKE to emerge for serious passive income.
For COTI, first staking poolparticipation has begun, now I am saving to have enough COTI to start my own active node.
For Pynk I finally accumulated enough community points to be converted into Pynk shares.
For that I had to predict and invest time for 5 months:
I made 148 predictions and 42 forecasts.
Anybody interested in exploring Pynk please use this link: link
As the Crypto world is evolving, regulations are catching up slowly. The US new regulations is a clear indication that in order to be able to engage with US citizens as a blockchain project, one has to comply to these regulations.
For adoption of a bigger audience also this compliance is essential, as compliance will create easier entry into mainstream, which will result in tapping into a larger user base.
It is no surprise that Ripply has created a lobby arm in cooperation with Cardano called the blockchain for Europe association. No less is it a surprise that TRON has hired a former SEC attorney to give guidance in how to handle regulations. Binance has set up its Binance US branch etc. Regulations and compliance is on the move.
Besides the project mentioned above, I am very happy that two of my other favorite projects $CITYUPTAKE and $COTI also take regulations and compliance seriously.
CITYUPTAKE has upgraded their compliance needs in the last year. Initially only holding a token was enough to be applicable for rewards, end of last year registration was required and in Q4 this year after CITYUPTAKE became officially incorporated a complete KYC needs to be done in their lounge to receive your rewards. On top of this a taxation document needs to be filled in for being tax compliant as well.
The lounge also provides all your historical transactions and a record of all your received rewards
COTI (Coin of the Internet) has a KYC requirement in case you want to set up a wallet for holding your coins in the official wallet. Staking is only possible through the official wallet and if you have the ambition to be a node also the KYC wallet is required.
All the above gives a clear explanation why $XRP, $ADA, $TRX, $CITYUPTAKE & $COTI are a substantial part of my crypto portfolio as it makes sense to chase KYC.
Reviewing my crypto portfolio, I came to the conclusion that during 2019, it has become a big mess. I have some coins, which I really track and for which I have really set a target of the amount of tokens I want to hold in my portfolio:
From these “base tokens” most of them have been growing nicely with the exception of $BNB and $GLD. $TRX is mainly CITYUPTAKE tokens converted to $TRX and a huge variation of Altcoins in the TRON blockchain.
As I am addicted to Data, I have been tracking the hold of all the tokens I am holding on TRON Blockchain. I have been actively accumulating 26 tokens on the TRON blockchain and even more passively. Seeing the messy portfolio, I now have taken the decision to clean up. This clean up exercise has been initiated by the recent value growth for $Play and $IGG, providing a good moment to cash out and convert the value to more $CITYUPTAKE and move some into $ADA and $COTI.
So now in time, I will purge the rest of the portfolio, cleaning out non reward giving tokens and gambling tokens once the value exceeds the initial value. $WIN will stay for the time being, $CITYUPTAKE and $CITY Alpha will stay for sure as they are the fuel for my passive income.
For now all TERC based tokens like Game of Tron and Aftermath Island will stay at least until the game is live. $Nole will stay as it gives a dividend in $Nolewater. But all e-sport teams, PRO, Mazer , LimeJuice will go. Beatzcoin will go (although I will use the app). $Vcoin will be cashed out, Egguity and Boom will await the time it will have a better value. TWX and PLAT will go as well and EVO will await the launch of the new game and the level of dividend will drive the decision.
By purging my stack, I will be able to add a significant amount to the $CITYUPTAKE stack and will bring the goal of setting up a $COTI node also closer.
It is time to refocus on the end goal. Early retirement with a good passive income. I will need to be more selective in the coins to invest in.
11 months have passed from the #111Months challenge. Time for a review #passiveincome #ada #cardano #TRON #earlyretirement
Summary of the 11th month of the 111 month challenge.
100 Month to go..
11 Month have passed, 100 more to go. What started as a general idea to retire at the age of 55, slowly transformed in a real plan with the following elements worked out
Defined a target crypto portfolio;
Established 2 participations, generating work and income after retirement;
Started to work on community involvement;
Defined a roadmap with milestones to reach the final goal.
Both passive income and liquid wealth targets are ahead of schedule, although wealth didn’t show a significant growth.
My position in all passive income generating entities is continuously increasing. Both in Crypto: CITYUPTAKE, CITY Alpha, WINk and in conventional shares: Unicum, AbbVie and Altria.
CITYUPTAKE has initiated being KYC and Tax compliant, which decreased the paid out amount of income but prevents future offsetting through local taxation. As the amount of CITYUPTAKE held increased, also the weekly rewards are increasing. CITY Alpha delivered a record return, which offset the low value of $TRX completely. Returns in WINk are low, but accumulation is ongoing for future rewards.
The trading profits in shares have been used to increase the position in AbbVie and Altria.
With all of this, passive income is now at 11% of the final target, supporting a quicker accumulation, creating a boomerang effect.
Staking in Cardano (ADA) will start delivering some additional regular rewards
Loans still make up 39% of total wealth and are continuously decreasing. In 4 months time one of the mortgages will expire, which will create additional free income, to speed up repayments of debt for the future
Again during the month of November two stock flips could happen creating profit too increase the hold of AbbVie and Altria.
A position of more than 30k $ADA was build up to be ready for testnet and participate in the Cardano staking which will start in the first half of December. After snapshot a part was converted into CITYUPTAKE to increase weekly rewards.
When $BTC was at a level of $7200, the size of the $BTC bag was increased as well. Besides that daily 0.0025 BTC is purchased to build a strong position.
For the near future, $BTT is cheap and accumulation will be expedited also $ADA will be in focus to build up again as I have high expectation on $ADA performance in the second half of 2020. Also BTFS will do some magic for $BTT.
Once all targets below are achieved, focus will shift from Crypto to regular stock market, but before doing so a major correction of stock market has to happen first.
With investment emotion is a big factor. It is important to be honest to yourself. Are you an emotional person when it comes to investments? Are you quick to be drawn into a FOMO? Are you likely to have a panic sell when prices drop? Have you done impulse purchases in the past?
When your answer is yes to most of the above, it is best to steer away from the temptation of emotion impacted investment.
I have done so by locking most of my investments and making them difficult to touch. Instead of trading, I put a significant part of my holdings in the hands of transparent and compliant professional traders like CITYUPTAKE and soon also accompanied by PYNK. These are taking care of my funds while generating a nice passive income. With that passive income, I can choose to re-invest or to use it for more risky investments.
Besides CITYUPTAKE and PYNK also nice opportunities are opening up at Cardano, which is soon to be ready for staking as well.
So the monthly decision is now, what to do with my investable money? Crypto or stock? CITYUPTAKE or PYNK?
In the end I know that as long as I am not trying to trade myself, the return on my investment will be good whatever decision I take.