The little elephant in the room has been quietly sitting there, patiently waiting to be addressed. At least to me, that was how I felt.
Without a doubt, the fundamentals of my personal finance journey has been built on the idea of index investing.
And wow, that was eight years ago. It was a time when index investing is very new to this part of the world, and resources were scarce.
I started my blog to share what I knew, with like-minded people who are interested in index investing.
It was 2013. Freshly inspired by the Millionaire Teacher, Andrew Hallam, I was all ready to embark on my journey to improve my personal finance situation.
One takeaway that I had was the 10% stock picking rule – it is absolutely fine to deviate just a little bit from index investing. Life isn’t just black or white.
Although I knew that it wasn’t likely that I can beat the market, I felt that there wasn’t anything wrong to have a little fun in the process.
Eventually, the idea evolved into one that converged upon the idea of a moon-shot.
Along the way, I came across this idea that came from Google. X is a subsidiary of Alphabet (Google) and is also known as The Moonshot Factory.
In a nutshell (and from their official website), “X is a diverse group of inventors and entrepreneurs who build and launch technologies that aim to improve the lives of millions, even billions, of people. Our goal: 10x impact on the world’s most intractable problems, not just 10% improvement. We approach projects that have the aspiration and riskiness of research with the speed and ambition of a startup.”
The idea resonated with me deeply and I felt that having a small percentage of my assets in moon-shot attempts is a sound strategy.
If things didn’t go well, my core portfolio wouldn’t be significantly affected.
If things went well, then I would be stumbling upon life-changing wealth.
Back then, I didn’t know much about finance stuff, and so I was reading a couple of articles on Bloomberg everyday – slowly, I learnt more and things started to make sense.
I vaguely remember coming across the term “Bitcoin” some time around 2014 or 2015.
Hmm, that’s interesting. But no – I didn’t act and simply brushed it off.
I never could have expected cross path with crypto shortly after.
The impetus for my moon-shot attempts strengthened in 2017 when I nearly lost my wife in an accident, and it changed the way I looked at life.
Time with my loved ones is the only thing that mattered. Consider this an additional (and extremely strong) motivation for my FIRE journey.
I guess I wasn’t willing to contend with spending our lives on things that we didn’t enjoy doing.
Simultaneously, the raging crypto bull market gathered steam in 2017. It piqued my interest and the more I learn about the technology and use cases, the more conviction I built.
It was on 7th November 2017 that I made my first crypto purchase on CoinHako for S$50 worth of Ethereum (ETH).
Nope, my first purchase wasn’t Bitcoin.
Looking at the past cycle, I decided that I was going to DCA the hell out of the impending boom and bust cycle for the next four years.
- First Transaction : Nov 7, 2017 at S$416.06 (US$311.59)
- Highest ETH Price : May 4, 2018 at S$1,051.59 (US$787.53)
- Lowest ETH Price : Dec 15, 2018 at S$117.22 (US$87.79)
- Last Transaction : Mar 29, 2020 at S$184.96 (US$138.53)
Buy the 90% dip! What can go wrong?
Alternative income from side-hustles that I made? I put all of it into crypto.
It is definitely easier said than done. Psychologically and emotionally, it was definitely a challenge.
Anyway, you can click into the Twitter thread above to see my dozens of transactions with CoinHako.
Binance Blockchain Week Singapore took place from 19 to 22 January 2019 at the Marina Bay Sands.
It was probably in the depths of crypto winter but I don’t remember the timeline that well.
I didn’t let anyone know, quietly took leave for two days, paid for the ticket and attended the conference all by myself.
I zipped in from one talk to another in order to see the various personalities (such as CZ Binance, Anthony Pompliano, Emin Gün Sirer, Kyle Samani and Dovey Wan) that I have been following on Twitter in real life.
Attended as many talk as I could just to immerse myself in the atmosphere and feel the vibes. Instinct is a very important trait, I feel.
Leaving the conference, these observations remained in my mind –
- Interest has waned
- Speakers remain positive
- We are very early – teams have probably overestimated what they could achieve in a year but are likely to underestimate what they can do in ten years
- Co-existence of CEXes and DEXes will be a core theme
- Non-Bitcoin/Ethereum folks
If anything, I was even more convinced that crypto is here to stay.
Based on my records, the last time I put in any money into crypto was on 24th September 2020.
Bitcoin was trading around US$10200 and Ethereum was hovering at $320.
As the second half of 2020 rolled around, signs were starting to show that spring is coming and things are heating up.
Literally. Gas price then was even higher than nowadays.
By then, I had invested a total of S$40,000 which isn’t a large amount of money. Neither is it chump change.
Like what I have mentioned, the fundamentals of my investment portfolio was still centered around index investing.
Interestingly, what I did was to bring the idea of index investing into crypto – a portion of my crypto portfolio was sitting in BlockFi with 33% Bitcoin, 33% Ethereum and 33% stablecoins.
Within my crypto portfolio, assets were further divided into tanks, damage-dealers and healers.
The golden age of yield farming from end 2020 was an exciting time for me.
You know what? It still is.
By now, crypto profits that I have taken plus assets held in stablecoins (or equivalent) is more than my initial capital – this isn’t meant to brag, but to give some context if and when I happen to write anything crypto-related.
In recent months, I was blessed with two air-drops – $OSMO and $MINE – which netted me a couple of grands. I understand how skepticism can be very real when it comes to crypto because, how this (free money) be possible?! But hey, it is what it is.
This also meant that a lot of the yield-farming gains translates into alternative income for me right now, which I can re-deploy into crypto, into my daily expenses or robo-advisors.
Without a doubt, the crypto market sentiment does seem fairly neutral / bearish at this point in time.
Regardless of the market movement, I’ll probably more interested on these potential yield sources in the short term as life goes on.
- Indexing split between BTC / ETH / stablecoins
- Stablecoins yield-farming
- Algorithmic stablecoins
- Synthetic assets
- Profitable (bank-like) Decentralized Autonomous Organizations (DAOs)
Majority of my tokens have been staked or liquidity-pooled (LP-ed) for months at this point so I don’t really have to babysit them. I do enjoy using some of the farmed profits to take small positions in potential moonshots.
Life isn’t simply just black or white – they are many shades of grey as well.
Wanna chat more crypto? Find me on Discord (no registration needed) – that’s mostly the only place I chat about it.
Read more? Crypto series 2021 –
- Hodlnaut Review – Easy 10% Interest On Stablecoins
- Crypto Crash? I’m Tired …
- Tanks! DPS! Healers! MMORPGs Influenced How I Manage My Crypto Portfolio
- My Effortless $35 ‘Dividend’ From Crypto.com Every Month
The information provided on this website is a reflection of my personal experience, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. This is a gentle reminder that the trading of crypto (or digital payment tokens) is highly risky and not suitable for the general public. Conduct your own due diligence and consult your financial advisor before making any investment decisions.
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Hello! I’m Kevin, Turtle Investor
At the age of 30, I am the Personal Finance Blogger who laid claim to a negative net worth of minus $25,755 – and decided to turn things around.
- Seven years later in 2019, I hit CPF Full Retirement Sum (FRS) of $176,000 without making a single cent of CPF top-up
- In eight years, I added $453,000 to my net worth (excluding the value of my HDB apartment)
- I earned over $175,000 in alternative income in 2021 in addition to my full-time job
I am married to a lovely wife and that means dual income with no kids. In my free time, I chase miles so that we can fly in business class. My hobby is making pocket change off this blog and sharing everything I know with you!