2020 Goals and Net Worth Update – May 2020

Good morning guys and welcome to the Goals and Net Worth Update of May 2020! 🙂 As I wrote in my monthly Passive Income Report, in May I made some changes to my Investment Portofolio. The stock market produced good returns, and I didn’t expect something like that.

In May I did some progress in my Goals, so let’s check them out!

Social Media Goals

#1 – Get 1000 followers on Instagram

  • Starting point: 346 followers
  • Current situation: 373 followers
  • Followers last month: -6
  • Goal progress: 37.3% (was 37.9%)

Lately, I’m dedicating very little time to my Instagram account. In May the number of Instagram followers decreased, so the way to 1000 is still very long, and it’s getting hard.

If you’re reading this post, please follow the official Instagram account of the blog! 🙂 I share interesting content like quiz, new posts, podcasts, and books.

#2 – Get 1000 followers on Twitter

We also have a Twitter account. Twitter is a great social media and I use it to find out interesting content.

  • Starting point: 272 followers
  • Current situation: 288 followers
  • Followers last month: +9
  • Goal progress: 28.8% (was 27.9%)

#3 – Get 200 followers on Facebook

Facebook had been the first Social Media that I created for the blog. I think that this goal will be tough to achieve.

  • Starting point: 69 followers
  • Current situation: 71 followers
  • Followers last month: +0
  • Goal progress: 35.5% (was 35.5%)

#4 – Get 100 followers on Pinterest or 15k monthly readers

Honestly, I’m quite forgetting about Pinterest in the last month. I really like it and I would like to improve my presence on it. For the moment I don’t have time to follow also this social, so this goal is so hard!

  • Starting point: 4 followers / 178 monthly views
  • Current situation: 7 followers / 253 monthly views
  • Followers/monthly views last month: +0 / +83
  • Goal progress: 7% (was 7%) / 1.68% (was 1.13%)

#5 – Open a Youtube channel and/or a podcast

This goal is getting more time than I expected, but this is a very tough period for me at job, so I do not want to hurry up, so no problem!

Personal Goals

#6 – Learn Spanish and improve my English

As I said in the last Updates, I started to work in a financial consultancy company where I can speak and improve my English day by day. In addition to this, in the last days I’m watching English TV series. I think I’m on a good path to achieve this “English” goal.

About Spanish, things are more complicated. This period would have been perfect, but unfortunately I forgot my study material in Rome and therefore I have to find a solution.

#7 – Travel once out of Europe

Well as you can imagine, this goal for the moment is not reachable, so no progress on this goal. I hope for the best for the next months.

#8 – Read 5 books in English

Finally I finished “The Essays of Warren Buffett: Lessons for Corporate America“. This is the first “English” book that I read in 2020. This means that I need to improve my pace in the next months.

English book read in 2020: 1

#9 – Listen to 15 audiobooks

I’m using Audible to achieve this goal, and I love it! I’ve already listened to two audiobooks this year. The first one was “La luce della saggezza” by Dalai Lama, which I listened to in January. In February I completed the second audiobook, “Less is more” by Salvatore La Porta. It is an interesting essay about minimalism, and I appreciated it.

In May I listened to “The Kite Runner” by Khaled Hosseini. Great great book and I started “The monk who sold his Ferrari” by Robin Sharma.

Audiobooks listened in 2020: 3

#10 – Train 3 times a week

I’m training 3 (sometimes even 4) times a week, every week. So I’m on the right track on this goal. I’m using the Nike Training Club application, and I really like it.

Financial Goals

#11 – Add 3 Cash Flow sources

No new Cash Flow sources in May. I just bought some stocks that will pay me dividends, but I do not count this as a new Cash Flow source.

Cash flow sources added in 2020: 1

#12 – Build an emergency fund of 1k€

In April I added 200,00€ to my emergency fund. I’m absolutely on the good track to achieve this important goal.

  • Starting point: 80€
  • Current situation: 700,00€
  • Goal progress: 70.00% (was 50.00%)

#13 – Investment Portfolio at 30k€

In January I registered the loss due to the closure of Envestio. In March I deposited 2500€ on Degiro and bought more or less 2400€ of individual stocks. Then I deposited 2500€ more, and I’m waiting to invest them. The way is still so long but I think I’m on the right track to achieve this goal.

  • Starting point: 8912,36€
  • Current situation: 13081,38€
  • Goal progress: 43.60% (was 39.40%)

#14 – Increase Net Worth by 25%

Big increase in the last month, thanks to the rise of the stock market.

  • Starting point: 18057,87€
  • Current situation: 20967,26€
  • Goal progress: 64.44%

#15 – Earn 5k€ of Passive Income

This is a big goal and I really hope to achieve it 🙂

  • Passive Income this month: 149,99€
  • Total Passive Income 2020: 1011,68€
  • Goal progress: 20.23% (was 17.23%)

#16 – P2P Lending under 30% of the Investment Portfolio

The P2P Lending percentage increased in the last month because the Degiro account decreased its value. This means that there is still a lot of work to do to achieve this goal.

  • Starting point: 85% (way too much!!)
  • Current situation:  37.21% (was 41.00%)

Other Goals

#17 – Give a completely new style to the blog

One month ago I bought a premium theme for the blog, installed it and the tried it. The theme was very nice, but since the moment I installed it the blog is very slow (maybe you’ve noticed it). Now I’m working to resolve the situation.

#18 – Create 3 courses for uDemy and similar

Zero progress on this goal. For the moment I only know the topics that I would like to cover, but I need time to work on the courses and for the moment I want to dedicate my time to other goals.

#19 – Sell 100 copies of the Financial Freedom Challenge ebook

As you probably know I published the Financial Freedom Challenge ebook on Amazon. In March I published the Italian version of the e-book. I’ve sold 4 copy (shame on me!) so there is much to work on this goal in order to achieve it!

  • Starting point: 1 copies
  • Current situation: 4 copies
  • Goal progress: 4% (was 2%)

New Net Worth composition

During May I modified a little the composition of my Investment Portfolio. You can check all the changes in the dedicated page: Net Worth.

I got a little increase in my Net Worth due to the new salary and some earnings made on individual stocks.

My Current Net Worth

For clarification, the categories of the chart are composed as follows:

  • Bank Account #1 – My main bank account
  • Bank Account #2 – My second bank account, in which I’m building an emergency fund
  • Cash
  • Degiro (my ETF investments)
  • Stocks
  • Crypto Wallets – Exodus and Crypto.com
  • Online Wallets – Skrill, Paypal, Payeer, PerfectMoney
  • Celsius Network
  • P2P Lending – Mintos, ViaInvest, FastInvest, Twino, Grupeer, Lenndy, Swaper, Robocash
  • Real Estate Crowdfunding – Housers, Envestio, Bulkestate
  • Oval
  • eToro
  • HIYPs – DiversityFund, SolidTradeBank, 8bit, BetterBits
  • Other

My Net Worth at the end of May is:

20967.26€ (+2.5% from last month, 11.6% from starting point)

Final remarks

Good increase last month, and in the months I expect bigger increases! In the world are still happening extraordinary things that were completely unexpected, so the future is quite uncertain.

But I’m confident and we need to stay motivated and positive all the time! 🙂

See you for the next post, have a good day!

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