Chapter 5 - “Portfolio Update” December Update Net Worth $76143 (-$503) - The Incompetent Investor

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Friday, December 14, 2018

Chapter 5 - “Portfolio Update” December Update Net Worth $76143 (-$503)

Scarn on friends... Going to keep this update short as I am in Melbourne with the family spending some much needed time with my son and wife. In addition to that, I am sure you all have better things to do than read masses of content during the festive season! I discussed I was looking to buy a gaming computer as mentioned in my last blog update. I decided I would buy the costly parts individually either second hand or on special to save as much as I can.

As you can see from subject heading net worth update, the markets have not been doing too well. That is all good. As I have discussed, I am in this for the long haul and downward movements in the markets here in Australia & abroad do not worry me too much. In fact as long as I have cash/or a job, I welcome them. You could kind of compare it to my recent experience buying a GTX 1070 second hand. For those who are not computer illiterate,  it is a gaming video card.

Brand new this card costs $550-$600. I managed to pick this card up for $350. I prefer buying things on a discount if I can. You could apply this exact same logic to LICs/ETFs. If they go down, you have the opportunity to buy additional units today than you did yesterday.

As you can see, having recently shifted my strategy in 2016 from individual shares to LICs/ETFs (with the exception of ANZ), I am not exact kicking goals just yet. I am sleeping so well at night though. Much better than I was when I was holding cryptocurrency and individual stocks.On Friday, I added an additional 640 units of AFI.

In summary, the primary hits to the net worth this month were:

- Knee Brace for Meniscus Tear - $300
- GTX 1070 GPU Card - $350
- Overall Market Declines
- Christmas Presents =/

On a side note, if you want to explore an alternative way to FIRE, check out Money Flamingo. They have some great ideas and to be honest I am considering following their concept towards FIRE. As always please remember this is not financial advise and ensure you do your own research when committing to anything that involves your hard earned money! 

That is all from me for now, have a awesome and most importantly safe Christmas! 

Disclaimer: The information on this website is general information and should not be taken as financial advise. I am simply documenting my journey and experience. I am also not a licensed Financial Adviser. You should always seek independent legal, financial, taxation and other advise that relates to your unique circumstances. The Incompetent Investor is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.

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