How much money do you have in your savings account? That’s a question we ask a different Dutch person every week. Even though we talk more about money, we never discuss how much we actually earn and save. This week, we spoke to 45-year-old Sandeep, who paid off his house with profits from cryptocurrency investments.

Occupation: security guard Net monthly income: 1600 to 1800 euros (26 hours) Housing situation: own home

Sandeep’s Savings Account

How much do you have in your savings account? “About 4200 euros.”

Do you have any other investments or holdings? “At the moment, my crypto portfolio is worth 431,000 euros. That’s the value if I were to sell it now, minus any transaction costs. I’m not planning to sell everything at the moment, I’m waiting a bit.”

Why wouldn’t you cash out the money now? “That would be taking the easy way out. But I’ve already paid off my house with the sale of crypto, and I’m now working part-time. For now, it’s good. In the future, I would like to diversify my investments, for example, in gold and government bonds. But for now, I’m willing to take the risk. My portfolio consists of about 60 different cryptocurrencies.”

How much money have you invested? “Between 2017 and 2020, I invested about 65,000 euros, spread out over the years. At the lowest point, my portfolio was only worth 20,000 euros, but at the peak 1.3 million euros. I didn’t sell everything at that point, but I did sell some. I sold about 270,000 euros worth of crypto and used that to pay off the mortgage.

Ultimately, in 2022, I sold everything for 265,000 euros. In 2023, I slowly started investing again, and it paid off. I continue to educate myself on crypto, and it seems to be a good decision. Two months ago, everything was worth 680,000 euros, there are big fluctuations. Now everything is slowly recovering and moving in the right direction.”

What was your financial situation like before? “My financial journey began in 2009. I started day trading with traditional stocks. It was up and down, and it wasn’t for me. I studied the annual reports, but I often felt misled by companies. I experienced significant lows. At one point, my bank card was blocked, and I was completely broke. I worked very hard to get out of financial problems. I did moving jobs on weekends and had all sorts of side jobs. Eventually, I had some money again and started investing in stocks again until I was broke again. That happened to me three times.

I have now turned my back on the stock market. In 2015, I read for the first time about a group of people who had invested in Bitcoin. I started learning more and more about it. In 2017, Bitcoin was worth about 2000 dollars, and I thought: this is serious. I delved deeper and decided to invest. I saw it as my greatest opportunity to become a millionaire.”

How do you feel about your current financial situation? “I am very satisfied. After the lows, I now know that it’s handy to have money. We can do fun things with the family, and I don’t have to think about it. We can go to the amusement park for a day and sometimes on a luxury vacation to Mexico, for example.

We can go to the amusement park with the family without it hurting.

In the past, it could sometimes hurt to go to the movies or out to eat because you feel like you’re spending a lot of money. Now it’s easier. Of course, I still don’t throw money away, and I still buy things on sale. But I don’t have to worry about money for a washing machine or a broken car. If I need money, I sell some coins, and I have money. Nowadays, everything is so liquid. In the past, brokers were slower, now it’s done quickly.”

What do you spend your money on? “Mainly on fun things with the family. I don’t care much about cars. I drive an old Renault, even though theoretically I could buy a Lamborghini. But in the end, that doesn’t make me happy.”

Are there things you spend more money on than you would like? “Sometimes I see nice shoes, and I buy them in three or four colors right away. Eventually, you end up with all the same pairs. I do the same with pants, for example. Then you end up with more pants than you need, but other than that, not really.”

Would you like to change anything about your financial situation? “Not at the moment. My ultimate goal is to generate between 2 and 5 million euros. With your wealth, you can help others. For example, supporting projects abroad, helping people in your area. You shouldn’t shout that too loudly, because then people might start spreading nonsense. But you shouldn’t keep everything to yourself.”

What is your best financial tip? “Start investing early and do your own research. And don’t get too attached to certain coins. Sometimes something has earned you a lot, and then you become attached to it, but you should always look at it objectively.”

Curious about more savings stories from other readers? Then also read the previous editions of Metro’s weekly column The Savings Account.