By Route 2 FI
Index Funds
In the figure below you can see my index fund value as of 1. august 2019.
I sold my apartment in july 2018 (and then bought a new one 50/50 with my fiancee). That was when I got serious with my investing.
- The blue line is the market value of my index funds: $171,334
- The orange line is the investment value of my index funds: $155,408
Because my brokerage account is in NOK and not in US Dollars, the numbers fluctuate a lot every month because of currency changes.
As you can see on the screenshot below, my portfolio was up 3,12 % (aprox. $5,150), but because the NOK/Dollar exchange my update only shows +$368 this month.
- The figure above shows the connection between my income (orange), expenses (blue) and monthly FI money according to the 4% rule
- As a result I will become financial independent when the blue and red line crosses each other.
- If I quit my job today and never took a paid job again - my monthly FI money would pay out $571,1 every month for the rest of my life
It’s motivating to see that I can safely withdraw $571,1 every month for the rest of my life.
I will do everything I can to raise this dollar amount in the future. As you all know my goal is to save up 600.000 USD.
This means my monthly FI money goal is $2,000 USD each month. I’m over 1/4 to my goal and it feels great!
Recently I wrote a detailed post on how I will reach a 600.000 $ net worth in only 5 years.
Portfolio results for july 2019
My portfolio was up 0,22 % in july 2019 (my portfolio consists of aprox.
70 % MSCI World and 30 % MSCI Emerging Markets).
- Averarage expenses in 2019 so far: $1769,7
- In 2018 my average expenses was: $1701
- Average income in 2019 so far: $5050
- In 2018 my average income was: $4313
- Monthly FI money as of june 2019: $571,1
Mortgage
We own an apartment 50/50 that has a total value of $515,000. That means my share is $257,500.
While this sounds good, my share of the mortgage is $220,213.
The interest rate on the mortgage is 2,10 %.
Pension
My current pension is 47.727 $.
I recently found out that I had a pension plan in a job I had as a teenager as well. Pension is a really iliquid asset class, because I can't withdraw the amount before I'm 62 years old.
Student loan
After nine years with different studies I got $52,993 in student loans.
In Norway the university has no fees, so this is a loan covering basic living expenses while you're at the studies.
The interest rate is 2.2 %.
I'm not paying anything on this loan at the moment.
Stock Loan
My stock loan, which I consider good debt (2,19 % interest rate) is currently at $0 !
Total Net Worth
- Index Funds: $171,334
- Mortgage: $37,287
- Pension: $47,727
- Student Loan: $-52,993
- Stock Loan: $0
I made this 16-pages FREE workbook with the steps I’ve taken on my path to Financial Independence.
Having a goal written down with a set date for accomplishment gives you something to plan and work for.
It’s 7 lessons and I hope you enjoy it!
After you’ve signed up, you will recieve the book right away.
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Related posts:
Net Worth Update #4 – March 2019
Net Worth Update #7 – June 2019
Net Worth Update: Almost $200,000 – July 2019 !
Net Worth Update #1 – December 2018
Are You An Investor Or A Coward? This Is What Smart People Do When The Market Drops
January 2019 Income & Expenses
April 2019 Income & Expenses
The BIG Reason To Why I’m Still Chasing Financial Independence
Gongrats! Now it gets lot easier 😉
Good and very detailed post.
Great financial update as always. You really do have momentum and an impressive savings rate. And congrats on the latest milestone.
For those interested, here was my July https://10yeartarget.com/financial-status-july-2019/
Thank you, mate!
Nice month! Keep it up 😀
Nice work my friend! Every $100k will get easier from here on out. Don’t lose that laser focus you have right now.
Thank you, my friend!
That’s an impressive pension for a high school job!
Great work on tracking your net worth.
Thanks a lot!!