Because no investor story is the same, we’ve decided to share some of the unique experiences of investors on Mintos.
This month, we bring you the experience of Petra, a teacher and Mintos investor living in Albania, who shared how she’s using Mintos to build long-term wealth and learn more about investing.
A bit about Petra
Petra says that “growing up, I was taught that having a savings account was the most effective way to grow my money. But seeing as interest rates for traditional savings accounts aren’t quite what they used to be, I had to start looking elsewhere.”
During the first wave of the Covid-19 pandemic, a friend of Petra’s introduced her to the concept of investing in loans. From here, she decided to undertake some research on loan investment platforms, and after eventually landing on Mintos, it became her first investing experience.
Petra’s approach to investing on Mintos
Because Petra’s goal is to save for her future retirement, she has a passive approach to investing on Mintos. In the beginning, she started off investing smaller amounts and has slowly built this up over time.
Even though still relatively new to investing, Petra prefers to have total control over the investments in her Mintos portfolio, so she practices manual investing. “I would feel more confident with the strategies if there were a bigger difference between the conservative strategy and the diversified strategies, but for now, manual investing suits me just fine.”
By investing manually, Petra can choose loans that suit her preferences. She prefers EUR-only loans, which include a Buyback Obligation. And she doesn’t have more than 10% of her portfolio invested in any one country or lending company. Plus, she uses the monthly diversification score email from Mintos to keep track of her portfolio’s diversification.
Petra’s also aware that investing doesn’t come without risk, so when it comes to her approach on Mintos, there’s a cost-benefit analysis to be made (especially with higher-yielding loans). For example, in the short-term, she’s experienced some setbacks with lending companies not paying on time during the Covid-19 pandemic or due to the war in Ukraine.
But Petra says, “I don’t get too worried about ups and downs of my portfolio performance because this is just the nature of investing. I’m confident that in the long run, I’ll gain more than I’ll lose. Plus, Mintos being regulated has made me feel like I have something to fall back on if something were to go wrong on the platform operationally (unlike unregulated platforms).”
When she feels like something could be better on Mintos, Petra will often head to the Mintos Community, as she wants to help shape the future of Mintos. Something that may only be a minor issue now could be more significant in the future, so she enjoys chipping in ideas regarding possible improvements to the platform.
Self-education on Mintos
Because Petra started using Mintos quite early in her investing journey, educating herself about investing has been vital. So she regularly reads information added to the blog and educational articles on the Mintos Investor Academy. She’s found the academy especially useful for getting more familiar with the concept of investment risk.
Petra says, “the blog and the Academy are pretty easy to understand, and I’ve never had to give up on a concept. Mintos does a good job simply explaining things for someone who doesn’t have much investing experience.”
An advocate for female financial independence
With financial independence being her ultimate goal, Petra is passionate about women, in general, gaining more financial freedom. “By learning more about investing and finance, so many women could be more independent in their lives, so I advocate for women learning more about these concepts. I’m impressed at the number of female investors on Mintos, but it can always get better!”
Furthermore, she likes how lending companies on Mintos work with people in a non-exploitative way, such as women with small businesses. Petra says, “it makes me feel good knowing that I’m indirectly a part of smaller causes that help actual people.”
Overall, she’s trying to invest more ethically – and sees investing on Mintos as contributing to this effort. “I avoid many traditional institutions because they don’t care about these things as much, or even have the option to work with individuals in society on such a small level.”
Closing thoughts on her experience so far
When Petra first started investing, she had doubts about Mintos and investing in general – mainly because she didn’t have previous experience. However, now, Petra says, “I wish I had started investing sooner! Investing on Mintos has helped me get some experience under my belt, and even my parents are now investing on Mintos too! Plus, the regulation benefits have made us feel more secure in our choice of platform.”
In terms of the outlook for the future, Petra says, “I absolutely see myself using Mintos for investments in other asset classes, such as ETFs, but of course, I’d like to do my research on these offerings first. Overall, I like the idea of having everything in one place like Mintos – this would work well for me because not all platforms are as intuitive as Mintos.”