Month number 18 of the #111Months challenge has finished, time for a new status review.
The road to financial freedom is looking more promising than ever before. The last three months a full recovery has occurred from the weak start of this year. A big important step has also been initiated in June, which is the incorporation.
Per beginning of August, Carpathian Basin will become Carpathian Basin Kft (Ltd.). As a corporation through Hungarian tax law, the taxation on earnings will be much more beneficial than taxation as an individual (9% vs 33%). This helps building up the investment portfolio in a higher speed than doing it as a private individual.
On top of this expenses, like webhosting, wifi, office equipment etc can be deducted from the profit, further bringing down the tax pressure.
Portfolio build in June
In June, the focus was on building portfolio in Crypto and shares while continuing to pay back loans.
In Crypto the position in $CITYUPTAKE (TRX), $Pi (TRX), $BTT, $CHZ and $COTI was increased significantly.
Because of the staking returns for staking $BTT in Dlive, the BTT position was build up quickly and is daily increasing.
For $COTI running the node, with the resulting staking is bringing monthly natural growth, just as CITYUPTAKE and Pi.
For BTT and COTI a new target should be considered as the goal has already been achieved.
The wealth building has seen a little sprint in June. 4.6% of the final wealth goal has been achieved. With an increasing amount of passive income generating assets, the wealth build will increase especially once all loans are eliminated. We are slowly leaving the linear growth as the goal is to get in a state of (semi) exponential growth.
While the wealth is growing the distribution is changing. It is mainly the loans which proportion is decreasing while the crypto proportion is increasing. In the end the goal is to achieve a similar proportion for crypto as for shares and in a later phase also real estate.
With the increase of passive income generating assets, the passive income increases. Adding BTT had a big impact as well. The successful month of February could not be replicated yet, but the trend is clearly positive. A level of 13,1% of the income required to retire is already achieved. The value of crypto assets has a huge impact of the level of passive income achieved.
All in all the road to financial freedom looks very promising with still 93 months to go.