1. Tell us about yourself and what you do for fun.
I am born and I live in Sofia, the capital of Bulgaria. I have a Master degree in Communication technologies Engineering but this didn’t become my profession. I work as a Software Quality Assurance Engineer for the last decade or so.
I dedicated nearly the same amount of time to dancing, but just as a hobby. For the better part I was dancing Salsa, then for a couple of years – Kizomba, and in the meantime I also tried other latin styles, hip-hop, and even classic ballet. With time though, dancing got replaced by other activities like weightlifting, gymnastics and climbing.
I love to travel, to see new places, to get to know different cultures and live new experiences. I enjoy sunny days at the beach, long walks in the woods and to conquer a mountain peak now and then :)
2. What made you start investing with Bondora and are you investing for a specific purpose?
For a long time I had a wrong idea of saving – I was saving only to spend the extra money after just a few months on something expensive that I couldn’t afford otherwise, or to go on vacation, or travel, and no matter how hard I tried to save a few bucks, I always ended up at the starting point, or even worse – in debt…
Until a few years ago, when I was recommended a book – “The richest man in Babylon” by George Clason. This book completely shifted my perception and attitude toward saving! I had the intention to find a way to gain passive income, but I still wasn’t really thinking of investing, because all I knew then was that to start to invest, you need a significant amount of money already at hand. And I barely had any…
After some time a friend of mine told me about Bondora. He had researched it and considered it as a very good option – a business with increasing potential, you can start investing with any amount of money, the return rates are noticeably higher than other investment options where the level of risk is low. So I did some research myself and I decided that this is just the right place for me to start investing.
“I joined a little over 2 years ago with the small amount I had managed to save so far for investing. Since then I deposit an amount funds each month and I reinvest all of the interest which to this date is over the remarkable 16%”
3. What were your goals when you started and what is your net return today?
When I started investing in Bondora, my goal was to create a long term investment plan – a future source of passive income.
I joined a little over 2 years ago with the small amount I had managed to save so far for investing. Since then I deposit an amount funds each month and I reinvest all of the interest which to this date is over the remarkable 16%.
4. What features do you use and how do they work for you?
I believe that when you are not very familiar with a subject, the best thing you can do is to find the people that know the subject very well. Financial instruments are a complicated matter to me, so I find the option to automate the investment process that Bondora provides a huge convenience.
I use the Portfolio Manager at Balanced mode. For an investment strategies and techniques newbie like me, this setting gives me comfort and confidence that my investments are handled in the most reasonable way.
I am very happy with how it goes so far and my intention is to try the Progressive mode soon.
“I use the Portfolio Manager at Balanced mode. For an investment strategies and techniques newbie like me, this setting gives me comfort and confidence that my investments are handled in the most reasonable way.”
5. If you could give any advice to someone starting out with Bondora, what would it be?
I find Bondora a great tool to fit different investment needs and even different personalities. You can deposit whatever amount of money you can afford or you feel comfortable with.
If you are not skilled in financial markets, you can completely rely on the Portfolio Manager at the mode that seems most suitable for you. If you are more experienced, you can try the Bondora API and make good use of the Secondary market to apply your skills to get the best of your investing.
Apply the settings that you think might work best for you and if you face any difficulties or have any questions don’t hesitate to contact the support.
6. Do you think Bulgarian’s invest differently to the rest of Europe? If so, how & why?
An important note to make is that I don’t know much about the investment culture of other European countries and I’m not familiar with any official researches and statistics on how the Bulgarians invest, so everything I can say on the subject is based mostly on my personal observations.
Some people do not invest because they’re afraid they’ll lose all their hard saved money. Some people mistake liabilities for assets – they consider the houses they live in and the cars they drive as investments. Some people want to have it all now instead of thinking for the future, so they live lives on credit – consumer loans for big TVs, mobile phones and other fancy gadgets, personal car leasing, 20+ years house loans.
But there is hope. :) I see more and more people who are interested in and work on their personal development and financial literacy. More and more people both save for rainy days and invest for either additional income, or retirement (with the population aging, they realise the social system won’t be able to support them).
For people who have more money available, the investment in properties for rental/sale is probably most popular. There are people who use platforms and apps to trade on the financial markets. There is also an increasing interest in cryptocurrencies and the blockchain technologies. Looking back at my experience, I believe that financial literacy education is very important. A possible solution would be that the topic is taught at school. This would help the children to develop proper financial mentality early in life.