Chapter 16 - "Portfolio Update - Found some Military Super" $159,740 (+$33,229) - The Incompetent Investor

Friday, July 12, 2019

Chapter 16 - "Portfolio Update - Found some Military Super" $159,740 (+$33,229)

G'day, how are we all doing? Everybody lodged their tax returns? 

If you want to skip a bit of banter and some life updates, head down to the "Debt" where the numbers kick in! 


The benefits of having trained dogs is you can put em in a drop and go about your business with plenty of distractions...

My wife lodged her return on the Friday, and we expect to receive about $3500. I will have to wait a few more weeks until I can lodge mine. I am waiting on one more group certificate which will be available mid July. Not quite sure I will get a refund given my income this financial year. Hopefully the Franking Credit's do some magic! 

The healthy debates have initiated on where these funds will be allocated. My wife is advocating for a cheap TV to watch some of the latest TV series as a family. We have made a compromise, a small amount will be directed towards a cheap ($300-500) second hand TV on the Facebook Market Place, and the remainder ($3000) will go into the Vehicle loan. Watching TV series on a laptop as a family just doesn't cut it anymore. We have pretty much smashed the vehicle loan, when we receive the wife's refund, it will be just about complete. The vehicle loan sits at $3700 as of today. I am really confident that we should have it paid off by August 15th at the latest. 

Work Update

Work is kicking along. I have about 2 and a half months remaining on my contract. Am I getting a bit worried? Not really. Worst case, I shall move over to full time study until I lock in another role. We are also slowly building our dog business up here in Darwin. There is a massive demand for it given it is quite a transient part of Australia. People often go on holiday's and go camping over the weekend. Plenty of business to be made up here in Darwin which is great to see. 

I recently applied for a graduate role at the Northern Territory Government. I was told approximately 300+ people applied. There were 8 positions. I was pretty gutted when I received the standard email advising me that I was not successful. I actually asked for feedback, and it was quite beneficial. The fella I spoke too gave me some tips on how to make my cover letter stronger next time I apply for future roles. I am glad I reached out. 

Lice Update

Following on from my last blog post, my head got attacked by super lice while I was in Melbourne. I am pleased to announce that the infestation is completely gone! If you did not read last month's blog, my mum's reaction was priceless - see below. 




On another topic, my son got us in a bit trouble with the neighbours recently. We live in a little community with townhouses. My son is a terrible speller (meaning he could not spell South Africa - more on that in a moment), and an advocate for equality and peace. 

However, he did write something on the neighbours letter box (something along the lines of "come back to me") which got him framed by another kid. Another kid in the local area wrote something as well, right next to my sons writing. It read "Go back to South Africa". Safe to say they were pretty furious, and I don't blame them. 

Being from a multicultural background ourselves, and my son growing up with a South African grandma and grandpa (not blood related), I absolutely denied my sons involvement. Anyway, it is pretty awkward now. I can sense they strategically plan their trips outside when they need to go outside. I just go for it. I tried to reach out, but got nothing back. It is what it is! Unfortunate given the kids were good mates and they played outside for hours. 

Alright, Net Worth update! I recently set up my gov account, and I found out I had $32, 214 superannuation sitting with Military Super. Good news right! Gives us a nice little boost. Let's get the most toxic part of the post out of the way. The Debt! 

Debt

Nissan X-Trail: $3700 (-$1000) - Interest Rate 12%  

Father Phil: $600 ($100) 

Total Debt: $4300

As noted above, the car loan will be obliterated as soon as that tax return comes in. Pretty proud of the family unit having smashing this loan out in less than 5 months. As soon as this all the debt is paid out, we will commence building an emergency account! 

Share Portfolio & Super

Shares: $80,201 (+825)

I received a dividend from ANZ on the 1st of July for $435.43

Superannuation: $83,839 (+$33,229



Net Worth

$159,740

As noted above, received a huge boost mostly because of finding some superannuation. Complete ignorance on my part. 

That is it from me. Slowly getting there. It is a slow grind, but it what it is! At 32, I only hope that when we hit 45, we shall be in a good position. And as I always say, worst case if we are not prepared, we shall just eat chick peas and lentils! As long as we have reasonable health ha ha! 

Peace!




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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