It’s been 6 months since the last update and a busy time of saving, investing and working. I use an adjusted version of J. Money’s Early Retirement Spreadsheet to keep track of everything.
A few things changed – namely I stopped using Acorns (it’s a great app for people who are starting out investing small, regular amounts, but didn’t add much to my existing asset diversification)
At the end of October here is how it looked:
- Cash Savings (High-Interest Account) $5710
- International Index Fund $10350
- Managed Funds – ASX $11170
- Managed Funds – Bonds $5750
- Superannuation $30800
- Renewable Energy Coop – $500 (New! Putting some capital towards ethical ventures – solar panels on a brewery. This will hopefully return 5-6%, but I’m not staking my retirement on it!)
- Acorns App $0
- Credit Card $0
TOTAL Net Worth: $64280
With all my net worth calculations, there is ONE BIG CAVEAT – I don’t include my student loans (‘HECS’) which is about $34210. This is because (currently) in Australia, this loan is provided by the government and only required to be paid back if earning over $54,000 (2016), it is indexed to inflation which is currently around 1.5% which is less than the 2.75% on a high-interest savings account. Compulsory repayments are taken out of my pay pre-tax. At the current rate it should be paid back by 2025 without me worrying about it!
Financial Goals for November
Keep it steady for Christmas – I am aiming to reach $70,000 by the New Year and $100,000 NW by 30. This will mean keeping things in check over the Christmas break!