In January 20, 2020, out of the blue, I made a challenge were I should invest £20,000 (Php1,300,000) on or before December 20, 2020. Details of the challenge can be found here.
Today, my total investment is £19,084.42. I fell short, not miserably but I failed nonetheless. I would have made it if Santa came a bit early but didn't - I am talking about my salary (lol).
Anyway, my investments were allocated to the following:
Addendum: My workplace's salary for December was distributed on the 22nd. I invested £1,025 of that income; therefore, my total investment for the year is £20,109.42.
My Vanguard account is tax-wrapped (ISA) so it made sense to prioritise it. I have a with-profits savings account with Sheffield Mutual that I am paying £130 per month. This is tax-wrapped, with life insurance account and is invested mostly in the UK. For the month of August, I invested all my savings to Trading212. By November, I opened Revolut and eToro to trade using a dollar-denominated account. Lastly, I explored BTC this year. I reckon it doesn't hurt if I invest to an instrument that is gaining institutional interest this year at less than 1% of my portfolio. But that's just me of course.
Also, another requirement for this challenge is to hit the annual Stocks and Shares ISA limit of £20,000 before the next tax cycle that starts April every year. Hence, I will need £7,472.13 to hit that target. Given my current allocation, I would miss this by 25%. Not fun to be a nurse but I would probably make another challenge starting January. Maybe £21,000 (Php1,400,000) before end of 2021?
P.S. Article adjusted with my December income.
Monthly investment here.
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