Happy Easter (whatever that means, Easter with all its days is perhaps the most confusing saint in the world).
My daily life changed radically on Monday, March 9th (as did everyone else). We traveled from home to work when the world’s stock markets opened up a hard slip. Fall began an escalating oil war and the spread of the coronavirus.
Thursday 12.3. we relentlessly followed the instructions related to the coronavirus and ended up canceling some of the work gigs. The atmosphere in the office was unreal and tense, no one knew how to proceed in such situations.
After that, we moved on to home conditions, and from there I will write to you now a month later. Korona has affected both its investment portfolio and salary earnings. I thought in this post to open up both sides for you.
Of course, we weren’t working on undoing things alone. That same afternoon, the email was filled with cancellations of workshops and speaking gigs. The calendar cleared in a few days.
And that was okay. While #selfisolation and #socialdistancing became a natural part of our vocabulary, I honestly wasn’t even interested in going anywhere. After a year of working (and skimping), our company had accumulated enough cash to make a few months without work.
Events, workshops, and speaker gigs account for about a third of our turnover, so of course, we feel like losing them. However, we are in a lucky position compared to many other companies.
FUCK YOU (corona) fund
Well, what about that own economy? When I used to get excited about investing, I wanted to put all the loose cash right into the stock market right away to make a profit. However, I restrained myself by first accumulating a buffer fund. Jälkiviisastelu is, of course, sucks, but in this situation, I am very grateful to the bumper.
My buffer is by no means from the biggest end, 2000 euros, and I have not touched on it yet. But the knowledge of its existence helps to fall asleep at night. Once this is cleared up and everything returns to normal (maybe not the old normal, probably the new one, but it will become normal at some point as well), I’m going to increase the buffer by a few more tons. As I have learned from this situation.
On the other hand, we will be using the company buffer very soon. Interfering with it is a psychologically exciting thing. The bumper brings a sense of security as long as I don’t use it. When you take advantage of it, your back echoes the thought of what then.
Well, then come up with something else. Then find out by other means. You can’t constantly prepare for everything. Everything will be alright. (Repeat this mantra a few times if necessary.)
With all the free time, which is only childless, #selfquarantined digital entrepreneur has received exceptional conditions will, I am starting to kyttäämään stock prices. At first, I was even hilarious about the bill, and the € 500 I had saved in my book-entry account for discount sales burned down quickly. After that, I transferred the last speaker fees of the spring to the share savings account.
Because I made purchases to the Finnish Index Fund many times during the decline, I did not want to buy SP500 companies for the share savings account due to overlaps. Instead, I bought shares in three small and mid-cap companies, and with that strategy, I thought I would stay.
I am very excited about this new hobby of stock picking, and I left the share savings to account for a little cash for future purchases. However, I am humbled by the fact that this bear market may last for years to come, so the buyer is not in a hurry. Investing in a declining market isn’t nice either, but that’s why it’s called a “war coffers”.
In addition to this, I will stick to my investment plan by continuing to make monthly savings to normally low-cost ETFs.
I didn’t spare one mocha: before the crisis, I noticed that my portfolio had an unnecessarily high weight in emerging markets (mainly Asia). I didn’t care too much about it because I thought that with a monthly investment, the portfolio would level off. Well, as the corona came in, this ETF, in particular, swung briskly into the red. Now, because of the heavyweight, I wouldn’t dare buy it more, but in terms of lowering the purchase price, this would be worth it. Oh well. Let me learn something from this too, namely that DISTRIBUTION IS WORTH.
Where do we go now?
A new every day has landed. I hardly go to the office, I stay at home. I exercise on the shoulder floor when I can, do walks, and try to stay even in some kind of work and sleep rhythm.
This month has taught the Mimmit Invest team a lot, we have reacted quickly, canceled events, but developed other projects. When you accept the fact that things don’t always go as planned, trying becomes much more meaningful.
Although we have taken a physical distance from each other, I would venture to say that this crisis has brought us closer. We’ve even got an addition to our team, but more on that in a future post!
Disclaimer I hate, but people pleaser inside me still more to this one: I know that many encounters corona crises very disadvantaged backgrounds, and I have said many compared to a very privileged position. I decided to write this post because I have been open about their financial situation earlier blog, so I thought to be so again.