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!