Some good news has just arrived for Revolut! Recently, I saw by luck that there was a Swiss IBAN available when adding money to the application. This is really great since that was missing from the start on the Revolut account.
And probably even bigger news for Revolut: they got a European Specialised Bank License! This is a big deal. Revolut is now officially a bank and will soon start offering new services. I have been using Revolut for about six months now and I really like it. I have saved some money by using their free currency exchange services. I am really interested to see how they are going to implement this banking license in the future. I would really like to have a cheap and good bank account in the future.
In this post, we are going to see what do these changes mean for me and other Revolut customers! If you do not know about Revolut, stay tuned!
Continue reading “Good New for Revolut: Swiss IBAN and banking license”
Now that 2018 is finished, it is time to review my 2018 goals. At the beginning of 2018, I set myself several goals in several different categories that I wanted to achieve during the year.
All over the year, I have tracked my goals in each of my monthly updates. Some of the goals went very well and some did not do as well. But overall, my goals were probably too simple. And some of my goals were not really well chosen. But this is all fine since it was the first year I set myself yearly goals. I need to learn from my mistakes. And next year, I am going to try to set myself better goals.
In this post, I am going to go over all my goals from last year and see how it went. I am also going to examine whether the goal was a good one to starts with or not.
Continue reading “2018 Goals Review – Too easy!”
Since the beginning of the year, I cannot buy Exchanged Traded Funds (ETFs) domiciled in the United States from my broker, DEGIRO. Since my current portfolio is mostly invested in Vanguard Total World (VT), this is a big problem for me. I can now only sell these ETFs, not buy them anymore. That means that the next time I will have some money to invest, I cannot invest it anymore as I want. This is bad news for Swiss investors.
This is due to new regulations that will come into play. These regulations already affected all European investors since 2018. But Switzerland was not affected before. We are going to see what changed. This is based on several European and Swiss laws. These laws are sad news for European investors and Swiss investors. I am not a legal expert at all. So this is only my interpretation of these laws. If I am wrong or I missed something, please let me know!
In this post, we are going to see why this is happening. And we are also going to see what are the different options for us. There are several possible solutions to this issue. But none of them is perfect as we will see.
Continue reading “Swiss investors will lose access to US-domiciled ETFs”
We have already discussed on this blog how to invest in real estate. But I have not really covered the reasons to invest in Real Estate in the first place. These reasons may make you want (or not) to invest in Real Estate. This is something I am still wondering whether I should invest in it or not. I know there are several reasons that make Real Estate interesting as an investment. But I have never gotten to the point of starting to invest in it.
Today, I am focusing on investing in real estate for income. This is not about owning your own house. If you live inside the house, you will not get income out of it.
In this post, we are going to see six different reasons to invest in Real Estate. There are many reasons that make Real Estate an interesting investment. But that does not mean it is necessary for every one to invest in it. On the other hand, I believe it is important to know what the investment offers. If you have others reasons to invest in Real Estate, please let me know!
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There are two main ways to reach Financial Independence (FI) faster. Either you reduce your expenses or you grow your income. We have already seen that you should do both if you want to reach FI faster. Most people are quickly reaching some limits when trying to reduce their expenses. On the other hand, growing your income is virtually limitless.
A lot of people do not focus enough on increasing their income. Even in the personal finance community, a lot of people are focusing on reducing small expenses. Whereas it is sometimes easier to get more money!
In this post, I am going to a few ways that you can use to grow your income. And of course, you are not limited to one of these ways. If you want to increase your income as much possible, you need to work on several fronts. There are other ways as well. If you know a good way to increase your income, please let me know!
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Do you like Family Guy? I know I do! Have you ever wondered whether you could learn some money lessons from an animated sitcom like Family Guy? If you have, this post is for you! Today, we are going to try to get some money lessons from five Family Guy episodes!
Recently, I have done the same exercise for South Park, trying to learn money lessons for five South Park episodes. I really had a lot of fun writing the previous post. The post did not generate a lot of views. But it is still fun enough so I am going to give it another try with Family Guy. For this post, I selected five episodes related to money. Now, in Family Guy, there is often no real focus during most of the episode. So it is actually a bit more difficult to find episodes related to money. Sometimes, only a part of the plot is related to money. But that is logical given the craziness of the show! Which is one of the reasons I really like this show!
For those that do not know, Family Guy is about the adventures of the Griffin Family. There are Peter and Lois Griffin, the parents. They have three children, Meg, Chris and Stewie, the baby. And they have a dog, that can talk, Brian. Peter is very dumb and so is Chris. And nobody likes Meg. Oh, and the baby is a genius that wants to kill his mom. They have highly unlikely and dumb adventures. And this makes the show really funny.
The pictures in this post are the property of Fox.
Continue reading “Money lessons from animated series – Family Guy #1”
Today, I am going to go through a simple thought experiment: What would I do if I were given one million dollars. I am thinking of several things I could with one million dollars. I am currently at the beginning of my journey towards Financial Independence. One million is more than eight times my current net worth. So this could mean a lot of different things for me!
Now, I did not invent this thought experiment at all. It was introduced by the Saving Ninja. Actually, I did not discover it on the Saving Ninja blog. I discovered it by reading about this experiment on Retire In Progress blog. You can find many answers by other bloggers in the original post. I thought it was interesting. So I decided to try it and report my thoughts on the blog.
The original thought experiment, proposed by The Saving Ninja, was in British Sterling Pounds. And Mr. RIP did it in Euros. In this post, I am going to talk about a million Swiss Francs (CHF). But, this is currently the same as a million U.S. Dollars. So, it is the same thought experiment as getting one million USD.
Continue reading “What Would You Do If You Got Given 1 Million dollars?”
Your net worth is a very important number. This is the number representing the value of what you own. We have already seen how to calculate your net worth. This is especially important if you want to become financially independent. For this, you will need to accumulate a large net worth that is able to cover your expenses.
However, something we have not discussed in details is the difference between the different parts of your net worth. In this post, we are going to discuss that exactly. You are going to see that not every part of your net worth is equal. Some parts of your net worth should be treated differently.
If you want to become financially independent, you cannot consider all the parts of your net worth as equal. Some parts of your net worth will not help reach Financial Independence (FI)! And some assets will not evolve in the same way over the years. If you are serious about reaching FI, it is very important to know of what your net worth is composed of.
To improve, you can use two different net worths. Your regular net worth as you know it and your FI net worth that will help you towards Financial Independence. So let’s see where all the different assets fit in the grand scheme of net worths!
Continue reading “Not all assets are created equal – Introducing the FI net worth”
In the Personal Finance community, many people are advising everybody to automate as much as their personal finances as they can. I am not one of them. I do not automate anything in my personal finances. In fact, I do not like automation for my personal finances. I think it is a big mistake. It is a lazy excuse for not being rigorous enough to manage them yourself. The worst is actually the “set it and forget it” advice for automating your personal finances!
I will not deny that there are some advantages to automate some things in your personal finance routines. But I believe there are mostly disadvantages in doing it. Many people will not agree with my point of view. But this is something I have wanted to write about for some time.
In this post, I am going to describe the reasons why I do not like money automation. In fact, I believe it may be a bad idea for most people to automate their finances. This is an advice that is given on way too many personal finance media. As you will see in this post, there are many reasons why this is a bad advice!
Continue reading “Automating your personal finances is a mistake”
A few months ago, I talked about Warren Buffet, an incredible investor. Today, I am going to talk about another great man of finance, John C. Bogle. John Bogle is especially famous for being the founder of Vanguard. Vanguard is probably one the most famous mutual fund company. I have recently talked about several things that makes Vanguard unique. It is a great company. Its greatness is mostly due to the way John Bogle founded Vanguard.
Not only did he create the first index fund. But he also advocates for very cheap fees on mutual funds. He did a lot of good for investors like us! Without him, we would have to pay much more fees for our investment portfolio. He has a lot to teach us in terms of investing philosophy.
In this post, I am going to talk about the history of John Bogle and of the Vanguard company. I am also going to talk about his investing philosophy and the man he is. He led a very interesting life.
Continue reading “Who is John Bogle? Founder of Vanguard”