Category: Reviews & Howtos

How to diversify your crowdlending portfolio

How to diversify your crowdlending portfolio

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We all know the famous quote from Warren Buffet: Diversification is protection against ignorance.

Well, admitting ignorance can also be a strength…So there! – I admit it: I’ve invested in 10 different crowdlending platforms, in hundreds of different loans to hundreds of different people/businesses of whom/which I know very little about. All I know is what the platforms (and the community) tell me. How much of this information can truly be trusted? I’m hoping the majority, but I’d be a fool to blindly trust “strangers on the Internet” 😉 – And so would you!

So don’t take my word for it! When investing in crowdlending, you need to protect yourself against (your own) ignorance. How can we best go about that, then? Well, I’ve got a few ideas that I will share with you today, dear readers 😉

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The secret to becoming (or staying) wealthy

The secret to becoming (or staying) wealthy

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Today, I’m going to let you guys in on a little (big) secret (it’s really not that secret…).

Here goes: The secret to becoming (or staying) wealthy, is to stop paying your taxes…

But Nick, If you don’t pay your taxes, you’ll go to jail!

Precisely! And what do you get in prison? Free accommodation, free meals 3 times per day, free education – and even a free membership to the gym! Granted, you might have to share the dumb bells with a real badass mofo, but beggars can’t really be choosers, can they?…

All kidding a side, I don’t mean you should stop paying your taxes altogether. – I just mean you shouldn’t pay more than the law requires…

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A night out – with Rich Dad (Property investing)

A night out – with Rich Dad (Property investing)

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This week I attended a 2-hour (free) seminar on property investing, from the Rich Dad Education company.

I didn’t really know what I was going into (the agenda was very sparse), so I tried to keep an open mind (I already read Rich Dad, Poor Dad, so I was pretty sure I already knew the gist of it).

What I did know however, is that nothing is free 😉 I was sure that they would try to convince me to purchase something after/during the seminar.

I was right.

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How to hack your charity donations

How to hack your charity donations

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If you’ve ever walked down a busy shopping street, odds are that you at one point or another, have been solicited by one of those annoying street “sales-people”, who will try to convince you to support <insert worthy cause here>.

When I was living in the city (in my 20’s) this happened to me quite often. I distinctly remember one guy, who managed to catch my attention AND sell me on one of those monthly plans, to support <insert worthy cause here>. He was young and enthusiastic, and with the argument “it’s only 1 pizza per month”, I couldn’t turn him down. His teeth was so crooked that I could not take my eyes away from his mouth, the entire time he was talking to me. I don’t remember which charity it was, but I remember him! I figured that if I supported this <insert worthy cause here> I could honestly – and in good conscience turn down any other solicitor for the next many years! “No thanks, bro – I’m already donating to this cause”. Of course it never actually pan out like that. …

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My 3 Biggest Crowdlending Mistakes

My 3 Biggest Crowdlending Mistakes

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I realize that the topic of my past mistakes has been a little over-represented on the blog lately, but this time I’m going to keep it a bit more relevant to the theme (of investing) 😉 I promise I’ll be done talking about my mistakes after this one (yeah, right).

A couple of my friends and family members have asked my advice on crowdlending, since they learned of my involvement in it. I’ve thus been talking a lot about my crowdlending adventure lately, and figured I’d make a post out of some of that chatter – in the hopes that others might benefit from it.

So if you’re new to crowdlending, and are considering boarding the train (or just curious about my past escapades), here’s some examples of what NOT to do when entering the crowdlending scene 😛

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HOWTO: Transfer money fast and free of charge

HOWTO: Transfer money fast and free of charge

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I made my first (ever I think?) international money transfer via my bank in October 2018. I had selected a few crowlending platforms that I wanted to take for a spin.

It was scary as hell!

I transferred €1.000 to Bulkestate, Grupeer and Viventor via a SEPA transfer in my bank. The fee to do so was DKK 20 (€2.6/$3) per transfer. I thought that seemed reasonable.

To my big surprise, the money appeared in my Bulkestate account the SAME day! In the case of Grupeer and Viventor, they didn’t appear until two days later. I expected the transfers to take between 2-3 days, so it seemed that Bulkestate was just extremely fast at handling deposits (compared to the norm).

I continued to use bank SEPA transfers to transfer funds to a couple of other platforms, which meant that my transfer fee bill was racking up to more than DKK 100 (€13.3/$15.3). It felt OK to begin with, but spending double-digits just transferring funds didn’t seem viable in the long run. When I decided to test out a few other platforms, and only transfer €100 to each, I concluded that I had to find a different method of transferring money. Enter: Revolut

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