A different sort of month in August, with high expenses due to my 3-week trip to the US. Despite this, my net worth crept up 2.1% ($7,224) to $346,526. To think that only a couple of years ago this was $100k or so. Things are so habitual now that it’s just an automated process that I go through. My total net worth breakdown is as follows:
TOTAL NET WORTH = $346,526
- Taxable (Stocks + Cash) = $242,596
- Superannuation = $103,930
With over $240k in my taxable account and expenses hovering around the $40k/year mark, it’s nice to think that if I really wanted or needed, I could live or 6 or more years off this stash.
Monthly Net Income
- Salary ($8,303)
- Superannuation ($1,610)
Had a nice little bump in the salary due to my 3-week holiday and leave loading that is applied by my employer. Additionally, I have decided to start contributing extra (4%) to my superannuation to receive the 2% company match and reduce my tax a little. I’ve been back and forth with my thinking around this for the past 2 years.
Stocks = $222,341 (+$2,943)
Holiday spending was up this month, so decided to top up my savings and not purchase any ETFs this month.
Cash = $20,255 (+$2,782)
Superannuation = $103,930 (+$1,499)
Slight bump in the super this month, especially with my extra contributions.
Expenses = $5,320
Sort of wrecks my graph now doesn’t it? Highest expense month in recorded history (well my recorded history). Was well worth it though. Life is all about happiness, compromise, experience. And this holiday with five friends was something I’ll never forget. Although it looks like “lifestyle creep” may be taking a grip on me, I’m not too concerned by the trend of that graph. I had a year living back with my parents in 2015, so expenses were incredibly low. I have spent a little more in 2017 compared with 2016, but I’m confident that long-term I can keep my monthly expenses at around $3,000 to $3,500 (adjusted for inflation over long-term). In addition, this excludes some large expenses that I’d be looking to boot once I “retire” from my current job. Therefore, my FIRE expenses would be lower than this. In the meantime, I’m content to spend a little more to enjoy life.
Savings Rate = 35.9%
I’m now averaging 56.9% for the year. Hopefully I can get that up to 60%.
I have decided to go on an international trip every year now. Not getting any younger and I can’t handle the winters here without having something to look forward to. Think I’ll start planning for Japan in October 2018.