The financial wealth evolution is a crucial step in my journey toward economic stability. This year marks the beginning of change, and although staying positive is not always easy, it is essential, given my past.
As I’ve shared before, my financial knowledge was quite limited in the past. To manage my small assets at the time, I turned to financial advisors who recommended insurance products. Unfortunately, years later, these investments have proven to be low-yield, offering minimal returns.
In recent years, I have taken charge of my investments, focusing primarily on ETFs. This choice has turned out to be effective, as some investments continue to grow month after month, providing greater stability compared to old insurance solutions.
This is the first time I share the progress of my wealth, so I won’t go into too much detail. Currently, my assets are heavily weighted toward insurance products, representing the largest share. Some contracts were signed years ago in Italy and have long-term commitments (up to 20 years), gradually increasing in value with monthly contributions.
Despite the recent crypto crash, I don’t plan to reinvest for now. Although it might seem like a good buying opportunity, I prefer to adopt a cautious approach.
This month, I have started using Revolut’s Roboinvest with small monthly contributions. This complements my existing investments with VIAC, to which I also make moderate monthly contributions.
The negative part of my financial portfolio is represented by what I call “bad debts.” I will explain this term in more detail in a separate article, but essentially, these are debts that do not generate income and significantly impact my monthly salary.
Before facing financial difficulties, I made some sensible decisions. When I wasn’t living in Switzerland yet, I bought an apartment, initially for personal use and later as a rental property. I consider this a “good” debt since the rental income covers the mortgage payment, resulting in a positive cash flow.
Next month I will elaborate further on my asset structure and share any news or updates. You can find my full story on the blog, where I tell how I got into this situation and how I am trying to get out of it
Thanks for reading, till next time!
In life, we all have to make choices, and unfortunately, my financial decisions have been terrible. Despite considering myself a hard worker with an average salary, greed, naivety, and a lack of basic financial knowledge led me into a difficult situation. Today, debt management and financial recovery are my primary goals because money constantly occupies my thoughts.
I am Italian and moved to Switzerland in 2017. I currently live in Central Switzerland, and my job provides an average Swiss salary. However, over the years, due to poor financial education, I made mistakes that resulted in accumulating debt through bank loans and credit cards. A significant portion of my monthly income now goes toward paying installments and interest.
As if that wasn’t enough, in my attempt to quickly fix my financial issues, I turned to gambling. This only made me lose more money and worsened my financial situation. Fortunately, gambling is now a problem of the past, and I can focus on climbing out of debt and finding economic stability.
My goal is not just to resolve my financial problems but also to return to a normal life. This means cutting back on unnecessary expenses like dining out and weekend outings while still making room for meaningful experiences and travel. Life is short and should be lived to the fullest, even in challenging times.
Let me be clear: I am not giving financial advice. I don’t have the expertise to do so, and given my past, I’m far from being an example to follow. However, I will share the tools, apps, and accounts I use to save and invest, with the aim of taking back control of my finances and securing a more stable future.
Join me on this journey of financial recovery. I’ll share every step, from mistakes to small victories, hoping that my experience can inspire or simply offer some insight to those facing similar situations.
Investing in your financial future is the best gift you can give yourself.
Don’t let money control your life – control your money.
I promise you: as soon as you start taking care of your money, it will take care of you.