Whoa, what happened there?! Ouch, what a month. 2020 is turning out to be one crazy year, record stock market highs followed by one of the biggest stock market crashes since the great depression. Covid-19 has had a massive impact on the global economy with the majority of the world in lock-down, including us here in Germany. These are truly unprecedented times as the world struggles to contain the virus and as uncertainty of what happens next continues to build, the markets continue to drop. In just the past 3 weeks our portfolio has dropped in value by £31k and we are absolutely…
… over the moon!
So why are we so happy about ‘losing’ £31k we hear you ask? Well, the whole global stock market has just gone on sale and we love shopping in the sales!
Thankfully over the previous few months we had built up a small buffer of liquid cash which we were able to directly invest into the market. On top of this, Mr FIRE Bear received an overtime payment which further added to our monthly contribution. The end result being that we could contribute £6,695 in March smashing our monthly target.
As we are still so early in our FIRE journey and as such this is the first significant market drop that we have experienced first hand. This has been the first real test of our FIRE mentality so despite losing over 9 months contribution in just a matter of days, we are happy that we stayed calm and continued investing during such a volatile time and even achieved our highest ever monthly contribution.
How was your month? How are you spending your time during the lock down? Did your portfolio also take a big hit? Let us know in the comments section.