My Financial Report Card: May 30 2020

As we get to the end of the month I normally settle my credit card and then start putting away the rest into various savings mechanisms and then start rebalancing my portfolio!

The only feel good factor I have at this point is the fact that I’m up YOY on nominal terms but I can say it doesn’t look good

I wouldn’t say in the most risk on guy,crypto is my risk part of my portfolio 💼 As for stocks I’m not a gambler so I don’t go for stocks for resale but stocks that paid dividend and I got hold for a long time

Apart from my retirement savings which are most likely going to get a haircut soon, all my fiat denominated assets are down in nominal terms and then when we factor in inflation it’s even worse.

Fiat looks like the slowest loser in the race right now with my cash savings getting a 50% haircut in interest earnings which is now well below the predicted government inflation and far below actual inflation so I’m losing money the slowest way I can

All the while my crypto has been pretty buoyant.

• cash 45%
• assets denominated in cash 38%
• crypto 17%

As crypto continues to rise its gobbling up ground as more of my net worth and what freaks me out is that all I’ve been doing is dollar cost averaging and then sizing a few alt positions.

I have no debt so I’m not the most exposed person at this point and I think the rest of the world is not paying attention! Just looking at the U-turn I’m seeing in my portfolio I fear the worst.

Once the market starts to price in the job loss, the time cost loss, the rising debt and the insolvency rates continue to rise with unemployment and the velocity of money drops it’s going to be one hell of a correction and that’s not even considering the inflation at this point.

Factors to price in

Fiat and fiat denominated assets are bleeding slowly but consistently and its shaping up for a few bigger corrections

• Once people realize their homes aren’t worth half of what they thought they were
• Once people savings dry up
• Once the pensions take the haircut
• Once the money printing sweeps into the real economy

Have your say

Have your say

What do you good people of HIVE think? Are you watching the launch? Have you been checking your finances?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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