👋, I’m Basil, a keen investor
Hello current and future investors, follow my journey to an exciting financial future. Welcome to harvestingassets.com! Please allow me to tell you more about me, my financial future plans and what to expect from this website.
I have been very lucky to come from a family with good money management and always was encouraged to appreciate money and be frugal with my lifestyle. My first ever investment was done for me at the age of 16, when both my parents invested all the money they saved for me from birthday gifts, allowances, small side jobs, etc. I wasn’t very happy back then because I didn’t understand much yet and wanted to buy stuff, but that money grew over the years and was able to see its fruition and better understand the idea of passive income.
It was early 2017 when I came across the first crowdlending platform and started investing small and building my trust in the idea of crowdlending. Two years later in this journey and still growing my online portfolio and passive income. Now, I want to share my experiences and strategies so hopefully, it will help you better understand different ways to slowly grow your income, build an investment portfolio and 🤞 one day become financially independent.
This is your future. I meet a lot of people not caring much about their pensions or any future financials, everything they do is think about the present, focus on experiences like travels and not much about the future. But we are all growing old and we should take care of our future because no-one will take care of it. There is nothing more satisfying than knowing you have a stable financial life.
A simple recipe for financial success is to understand the process of working hard, earn money and invest in assets that generate you more money. Keep repeating this process and your hard-earned cash will work for you 🤑🤑🤑.
Keep in Mind
I am NOT a financial advisor. So if you are unsure about putting your money into different investment streams, get in touch with a financial advisor or if you have any questions you can always drop me a message. I have made my own research, followed other investors, failed in some and earned my trust into different platforms, learned my way into building a portfolio and want to share my journey in a very transparent way so that it will help you make a decision.
Why am I doing this and why should you too
I have been working hard since my early teens and have always been smart with my hard-earned money (thanks mum, dad). I always treated my salary well and started investing money into diversified strategies at a young age. Leaving all the money in the bank is not an option, although it’s very safe, there are no interests, and sleeping money that doesn’t generate anything is useless. However, with the rise of crowdfunding and p2p lending platforms, the same money can generate between 6% to 14%, even 18% and is still are safe, as investments are tied to Buyback Guarantees [Will explain further into this one as we move forward].
In short, live frugally, cut unnecessary expenses, work hard and diversify my investments in different streams. I want to be able to wake up and skip work if I feel like it. Here is my strategy of how I plan to achieve this;
Level 1: Portfolio = €15,000 (Achieved)
The portfolio is big enough to fund a year of living.
The first step to financial stability is to have just enough money in a portfolio that could last a year. This is aside from your emergency savings fund. You should always have money saved on the side for unexpected costs. I have 6 months’ salary worth of savings to sustain me. You cannot focus on the bigger picture if you are struggling to make ends meet. A lot can happen to us in a year (sickness, job loss, economic recession, you name it).
Level 2: Passive Income = €500 p/m (Currently €300)
Passive Income starts building up and becomes like a side hustle.
This is where the seeds you sow start to grow and your portfolio is big enough to earn you a few hundred euros a month.
Level 3: Passive Income = €1250 p/m
Passive income equals my monthly expenses.
Here is when it becomes awesomely comfortable. Having enough income for our monthly food supply, bills, and our occasional night outs. This monthly amount is calculated on 2 people who live in a not so expensive city in Europe and own our apartment. This amount will change once I grow older and have a bigger family.
Level 4: Passive Income => €4000 p/m
Passive income exceeds career income.
This is the ultimate goal and would be pretty dope to get to this point and even beyond. This is when I come to a point and decide if I want to keep my 40hr job or maybe reduce my hours and start living within reason.
These are just benchmarks for me (and my wife) with our current living situation. Amounts will adjust based on the living situations however those are some really nice targets for me.
In this blog, I’ll be focusing only on Crowd Lending (or P2P Lending) and Real estate crowdfunding. These 2 programs are easy to understand, easy to get started and also easy to manage. Unlike cryptocurrencies, Crowdlending is a more stable investment and offer slow and steady returns between 6% – 14%, even 18% pa.