Net Worth Update – Feb 22 $1,250,978 (+$3,359)
Net Worth Update – Feb 22 $1,250,978 (+$3,359)

Net Worth Update – Feb 22 $1,250,978 (+$3,359)

What a month, Ukraine, flooding across the east coast and uncertainty in the markets and global stage has really put a damper on the beginning of the year. Plus I write this while I have Covid. With all that is going on, this is just going to be a short update.

My Net Worth has increased. Allowing me to hit my goal of $1,250,000 this year. My new goal is to reach $1.4 Mil by mid next year.

While I track along with my goals I need to keep a close look at my cash flow, its been a total of 6 months of negative cash flow that has me worried. I need to conduct a thorough review of my finances, negotiate better prices and reduce spending.

What I found worth reading/watching:

In relation to my zeal to reduce my spending, I have been doing some research on how to negotiate a better deal:

Nerd Wallet on how to negotiate on your bills, and

ABC info-graph on bill negotiation

Now for the February Net Worth Update:

Portfolio goal:

It’s my goal to reach $1,400,000 by July 2023. I also want to further diversify out of real estate into shares, either by another Equity builder loan or cash purchases. With this goal of reaching 150,000 by July 2022.

Summary

Cash reserves: $67,164

Share Portfolio: $115,723

After last month’s inflation fears, the market has also further slumped due to the whole Russian Ukraine business. Magellan was the biggest loss, however, this is a global fund and is expected to be down. I still had an overall gain

Vanguard Australian Shares Index$65,765Gain of $1,472
Magellan open class$20,818Loss of $1,755
JB Hi Fi$12,971Gain of $717
Nearmap$7,067Loss of $662
Medibank$5,064Gain of $120
Santos$2,520Gain of $193  

I did see dividend income in January: $701

  • JBH                         $647
  • STO                        $454                      

This was an overall gain of $1,848

Real estate: Equity worth $738,460, Gross rental income of $1,035

This is a conservative estimate by the bank, and what I would feel comfortable selling at if I had to sell tomorrow.

Rental income of $2,020

Rental expense:

  • Mortgage Interest: $880
  • Fees: $121
  • Insurance: $85
  • Council Rates: $362

This month the investment property was positively geared by $572

Superannuation: $357,027

This is updated bi-annually.

Net worth total: $1,250,978

Overall, a change of $3,359 or 0.27% net worth increase.

Leave a Reply

Your email address will not be published.