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General

Worst Financial year ever

Everything I touch turned to dust this year. I’m still on my anti-depressant medication because otherwise I would have killed myself by now. Seriously. Let’s count the ways.

-in Jan, Korea had the crypto premium at 40%. I didn’t make use of the crypto account my gf made for me, and the premium is now completely gone.
-In Jan, I had a gain of 50k on my crypto. I didn’t sell or take profits. Now I’m down 170k. That’s a swing of 220k. +50 to -170.
-In Feb, the only ICO I invested in last year at $1.10 each debuted at $4 each. I could have sold right then and there and took $30k profit but of course I didn’t. I kept holding, and now this month I sold it at $0.90 each. Yup, I lost $2k when I could have been up $30k.
-In Jan/Feb I invested in a lot of stupid risky ICOs – over 20 of them. I thought if even ONE of them did a 10x I could make up for the other ones. Nope, turned out ALL of them except two went down 80-90% and the two that made me money only went up 50%. That hardly makes up for my losses. I’m down 37 ETH on that.
-In Jan/Feb I took out 3 loans to average down for a total of 85k + 5k in origination fees/interest. And… the market went down 70% since then. So yeah, that was stupid as well.
-I sold off all my stocks at the beginning of the year to put all into crypto. The AMZN/TSLA/NVDA stocks I sold subsequently went up 50%+ and crypto went down 70%. FML.
-In Apr/May I got scammed 1.5ETH by people pretending to be admins on telegram.
-In Apr I lost $2300 shipping a package because I didn’t use the USPS Priority mail and it didn’t have tracking to Canada. Buyer complained, I had to pay it back since I had no way of proving it was delivered.
-Worst timing ever. I sell EOS and ETC, a few days later it goes up 20%. I sell BITG literally the next day it jumps up by 50%. Why? why does this happen to me?
-In June I put a lot of my money into masternode coins to try and stabilize. I sold off a lot of coins at the bottom because I wanted to make some stable income. Well guess what, those coins are up 30-40% now, and my masternode coins are down 70%. Of course. One of them even went down 90%. I lost over 2 BTC on those. Even when I am trying to stabilize I end up losing money.
-In June when I was trying to get my place renovated, the movers lost my $1000 camera. Seriously, wtf? I can’t even get something as simple as moving my items done without losing money???

So yeah (and don’t forget my gf broke up with me early in the year, my job gets more and more tedious and I’m on meds now) this is easily the most horrible year I’ve had in recent memory. Please, please let this year end soon. Last year was boring but I was at least steadily gaining money. This year, 1/3rd of my net worth is gone, and everything I try to do to get it back only loses me more money. What is happening to me? I must be the anti-Midas touch. I even lost my friends money as I got them into the same masternode coins. My only saving grace is I really hope my apartment sells for above market value to at least make back for some of my losses…

Categories
General

Financial troubles and Youtube troubles

Well, I blinked an eye and its October already. My best friend in Korea left already so now I’m even more lonely than before… what can I do. Moving back to SF isn’t an option thanks to insane housing prices there and moving back to Canada is just more depressing. Looks like staying in Korea is still the way to go.

Some updates – I’ve been calculating my net worth since Aug 2009 – and my net worth this year is actually the same as in Nov 2013. Which means that I’ve lost net worth despite making money last year and this year. What happened? Well, the short answer is, excessive buying/selling, collecting vintage electronics, paying back owed taxes, bedbug issue, excessive rent in Korea/SF, excessive cellphone bills, alot of travelling, and a bad stock market this year.

If we break down the spending on Mint.com, I can see that for last 12 months:

-36% ($35,205) was spent on shopping. This doesn’t mean I bought this many items; I bought and sold alot of things, and including eBay and UPS shipping fees, I lost alot of money here as well. I also spent alot collecting my vintage PDAs/UMPCs/gadgets, video games, Magic cards, etc so thats why this category is so high.
-19% ($19,181) was spent on mortgage and condo management fees. This is valid, since there’s no way to avoid this.
-7% ($6,843) was spent on travelling. Since I go back to USA every few months, this can’t be helped as well. I already went back to US twice this year and Toronto once. I will travel to Europe next week, go back to US again, and then back to Korea. And then later this year I’m going back to Toronto again. That’s 2 trips to Toronto and 3 trips to San Francisco and 1 trip to Europe all in one year.
-7% ($6,419) was spent on food. This is valid, since eating with friends is pretty important.
-$6,450 was spent paying back owed taxes for 2013. Turbotax must have made an error 2 years ago or something. This really impacted my finances alot.
-4% ($4,264) on entertainment. This would bars, lounges, clubs and Steam games. Probably could be avoided.
-3% ($3,408) on Bills. Yeah, yeah I know.. I’m spending way too much on my cellphone bill. I need to figure out a way to bring this down, I think my AT&T contract for my iPad which I’m not using expires in Nov so I can at least get rid of that.
-3% ($3,500) on getting rid of bedbugs. Yeah, not only did last years bedbug problem give me permanent scars, I also had to pay up the arse to get rid of them.

So, I’ve figured out some ways to increase my revenue and reduce spending, which I will be serious about starting next year. Here’s my plan:
-Sell all the excessive electronics and other things which I don’t use or need that often. This includes my unused PS3/PS4 games (sadly, Steam games and Playstation Network / Nintendo eStore games can’t be sold), unplayed Magic cards, unplayed records/LPs, gadgets (UMPCs,computers,PDAs,speakers,headphones,etc) that I feel are useless, unnecessary or not worthy to collect, extra guitar gear (Traynor amp and Gretsch white penguin), extra audio and video equipment like my microphone and extra tripods. All this is worth probably at least $7,000.
-Increase rent. As a landlord, its my duty to increase my rent to reflect local prices and I’ve been undercharging my SF apartment for it. This should be some nice extra cash.
-Move to a cheaper place in Korea. I’ve been living in one of the most expensive places in Korea and I can cut the rent in half by moving just a few stations away.
-Migrate this website to my own server hosted on my Synology DS. Yes, so I won’t need to renew the $300+ hosting fee with Bluehost every year
-File my scooter as PNO – I’m not operating my scooter anymore so no longer need to pay insurance or renewal fee, this is already done.
-Consolidate my electronics. I just got a nice Creative T4W 2.1 system which has bluetooth and optical in, which should mean that I can sell the following with no loss of functionality: Samsung soundbar, Polk Audio hampden, Klipsch KMC 3, Audyssey Wireless Speakers, Marshall Acton. That’s 5 speakers replaced by one! I can use the same system for my PS4/PS3/Mac Mini/Asus/TV that’s great consolidation.
-Be satisfied with what I have. I have an incessant need to upgrade equipment and I should stop doing it. I still use my iPhone5S. That’s a good thing. I should do that with my other electronics. Use it until it breaks.

I also would like to make some money off of Youtube (I have over 1500+ subscribers) but here’s the problem: My current account is associated with an invalid or suspended Adsense account and there’s no way I can get that fixed. So I tried creating a new youtube account with a valid Adsense account and started uploading some videos – Youtube flags all of them as requiring some proof of copyright! Even if its something as recording some DOS games or my own guitar music! That’s not in violation of any copyright! Other youtubers like PewDiePie record games all the time so why can’t I do it? So I deleted that account because I thought its useless since I can’t monetize but it doesn’t delete my subchannels underneath it… and I need to be logged in to delete my subchannels so now I have some extra youtube accounts floating around that I can’t delete!
Get your act together Youtube! Why aren’t the subchannels deleted along with your main account? And why won’t you let small time people like me monetize videos? Seems like a big middle finger from Youtube for me as far as that revenue stream is concerned. Blah.

Anyways, In other news I’m going to Czech, Austria, Croatia, Bosnia and Turkey in a week. I’ll write back after I get back from my vacation :).