Chapter 13 - “Portfolio Update - Reflection & Including Super” May 2019 Update Net Worth $118,225 (+$54250 - Due to including Superannuation in NW) - The Incompetent Investor

Friday, April 26, 2019

Chapter 13 - “Portfolio Update - Reflection & Including Super” May 2019 Update Net Worth $118,225 (+$54250 - Due to including Superannuation in NW)

G’day! Firstly, I would like to thank you all for the feedback you provided in my previous blog post. If you want some context, refer to https://www.reddit.com/r/fiaustralia/comments/b9aduq/chapter_12_portfolio_update_family_is_in_darwin/



I received quite a lot of positive feedback as well as constructive criticism. I also received some straight up negative feedback, some even condescending. I am not going to lie; I was awake relatively late that night thinking about it quite a bit.

My wife insisted I go to sleep that night, but to no avail. I was refreshing the blog post for a number of hours. Rather silly in hindsight.

I have realised a couple of things. Firstly, when you are going to display all your cards on the table transparently, it is to be expected to receive some harsh feedback. Although, this feedback can do a number of things. It can inspire you, it can also provide you with an opportunity to self-reflect, and give you the reality check you may actually need and deserve. Furthermore, there may be readers who have walked this path before, or are currently walking it. Therefore, the direct feedback may help others beyond myself. Who knows?

They typically say the best friend is the person who has the sack to tell you something you do not want to hear. If I could just conclude that I realise FI is at the core a numbers game. However, sometimes, and I am sure others can relate, putting family, safety, and even love before numbers is a more fulfilling way to progress towards FI. 

Mathematically, it made no sense for my family to join me in Darwin (we were saving like bosses); and yet, while our Emergency Funds & Net Worth took a hit, I feel happier than I did before. Anyway – moving on, time for an update on my current circumstances & numbers. Before I do that, I am pleased to announce that I recently purchased a $3000 gaming computer...

Just kidding! A reddit poster in my previous post advised me he/she would whack me over the head if I purchased a gaming computer. I laughed when they wrote this, and their comments are ingrained in my mind lol! Thank you for this.

Work Situation


My current contract expires at the end of September 2019. At this stage, I have not been provided confirmation on whether or not the role (which is funded dependent) will continue at this stage. I am not too worried here as I’ve always found work, and I am willing to do anything in the interim should I need to do a role nobody wants to do.

If anybody has any suggestions or feedback here, please do share them. For instance, should I start applying for new roles 3 months out from the end date? 

My wife recently was offered a job just prior to leaving to India. The role is suitable for her circumstances. The role offers 20-25 hours a week, which will work well with her current study commitments (Bachelor of Nursing). The only downside is she will be compensated $25 p/h. The wife intends to graduate in 2.5 Years. I suspect this will help considerably in the rat race.

Shares


Portfolio Value as of 26/4/2019: $76,050

I expect to receive a special dividend payment from MLT for $0.0250 per share on the 30th of April 2019.

Total Dividend: $205.54: Milton 30th of April 2019; Franked $143.88, Franking Credits $61.66.

I have made no additional share purchases this month.



Debt


Nissan X-Trail: $8000 (-$2000) – Interest Rate 12% Project Completion: July 

2019 Father Phil: $800 (-$100) – Interest Rate 0%, Projected Completion: December 2019 

A payment of $2000 was paid into the Vehicle loan. 

The repayment amount will increase upon my wife resuming work upon her return from India. 

A further $100 was sent to Father Phil.

Net Worth Update

$118,225 (+$3250+$51,000 super). 

The boost here is a result of the stock market (nearing 6400 points) and repaying some of the vehicle off. Last time we got close to this high was in 2015 & 2018. 

Otherwise, it dates back all the way to 2007 (which saw almost 6700 points). Interesting times ahead.

Life Update

I have commenced my Masters in Social Work. I also wanted to share with you a good book called “Can't Hurt Me: Master Your Mind and Defy the Odds”. Check out the reviews- https://www.amazon.com/Cant-Hurt-Me-Master-Your-ebook/dp/B07H453KGH. It is awesome. 

I believe this book has direct benefits towards FI. For instance, it could be related to starting a business, studying, saving, getting fit, paying off debt, waking up early, really anything. It truly is an awesome book, and it is unsurprising that it received exceptional reviews.

Super

Combined Super $51,000 

Thank you all. Hope you had an awesome Anzac Day yesterday, followed by a relaxing weekend. For those not FI yet, how good was the Easter break and not having to work? It was refreshing.

Catch you in the next update!




Disclaimer: I have an extremely poor track record with picking individual shares. I also do not have the ability to digest complex financial reports to make informed decisions around buying into individual shares. Also, 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 also 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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