Net worth: October 2020
November 3, 2020
I’m not really one for reading long blog posts so I don’t think I’ll make this too lengthy. I’m also not much of a writer so this will mainly detail the facts about the financial situation in October. I’ve been reading through Fire Down Under and really like the simplicity of their net worth tracker and how they set out their monthly updates, so I think I’ll start tracking my net worth in a similar way for now and see how things pan out.
Current situation
- Offset account $12,686.07
- Cash $7,270.11
- Investment portfolio $4,808.61
- Investment (Spaceship) $10,630.73
- Total property equity $297,615.67
- Super $300,056.91
- Total net worth $633,068.10
Points of interest
- Started a Spaceship investment account and was throwing in small amounts, then I decided to invest $10k into that account whilst I was waiting for my SelfWealth account to be set up. I’ve left that money in there for now as I’m waiting for the (1) the US election, (2) interest rates potentially lowering, and (3) the market seems to be in a bit of a dip
- Created a SelfWealth account and made my first trade of A200 ETF holdings. I bought approximately $5k, and it immediately dropped
- Moved $5k into my emergency fund
- Removed all dormant accounts at my bank and now only have my offset account against my interest only loan
- Started dropping $600 per fortnight (that’s the aim) into an account which will grow and when it hits $5k I’ll invest back into ETFs.
Visuals
As you can see I’m currently heavily skewed to property. This will change over the next few years as I slowly grow my investment portfolio.
