You need an Investor Policy Statement if you are serious about your investing. In this article, I will lay out exactly what an IPS is, why you need one, and how mine looks like.
Last week I read a fantastic blog post published by Mr. RIP from Italy, titled what would you do with 1 million euros.
Apparently this post began last month in the UK FIRE community, where people would run a thought experiment with the following question:
What would you if you got given £1 Million?
Since I’m in continental Europe, I will take up the challenge in euros instead of pounds. In the end, I don’t think it makes a difference anyway.
The article by Mr. RIP was very well written. My mind isn’t that clear yet on this topic, that’s why decided to participate in the experiment, and post in this new category Thoughts on Tuesday. Writing helps me to structure thoughts, so please find below my answer to the question “What would you do if you got given €1 million?”
This is the final part of my entry series into YNAB, the budgeting software I use to budget without feeling restricted. This fourth post is about ageing your money. Part 1 | Part 2 | Part 3 If you want to start using YNAB right away, click here. If you use my link when signing … Read moreYou Need a Budget – YNAB (part 4)
Common wisdom in the personal finance world is to have at least 3/4/5/6/9/12 months of expenses in an emergency fund. The money in this fund is used as a cash buffer, not to be invested but to be ready when something bad happens to you. In general, this is really good advice. But for the die-hard FIRE people, do you really need an emergency fund? Check out my emergency fund examples here.
To measure is to know, also in the personal finance world. Tracking your income and expenses, investments and net worth should become a standard for individuals striving to reach financial independence. I have a set of personal finance dashboards that I use to keep on top of my finances. Do you too?