Net Worth Update – Oct 21 $1,237,154 (+$5,159)
Net Worth Update – Oct 21 $1,237,154 (+$5,159)

Net Worth Update – Oct 21 $1,237,154 (+$5,159)

October was a busy month, it’s been that long in lockdown working from home, I have forgotten how long it’s been. My waist size hasn’t forgotten. With the opening in October, it’s going to be good to get out and about.

Overall net worth ticked up, but only slightly; 0.42%. This is contributing to an underperforming stock market in September. My new car has just been delivered and does not show in this month’s update. It will be next month, I am unsure if I should list it in my net worth or write it off as a large loss. What’re your thoughts on this?

On the blog this month I have written an in-depth guide on purchasing a car, and if you should buy a new or used one. I also had a little bit of fun and rated the best sea shanties to discover.

What I found worth reading:

The Importance of remaining rational by Hamish Douglass, CIO at Magellan.

Why We Need Different Types of Financial Independence by Mrs Flamingo Fire

Events that may shake markets in September by Reuters

How shrinkflation is duping you into paying more for less by Nicola Field

Evergrande Fall Out

Evergrande is one of Chinas largest real estate developers. The company makes its name in residential property, owning more than 1300 properties. These span from huge skyscrapers to low-income housing. Recently they have started to develop amusement parks, malls, and the worlds biggest soccer stadium.  

In recent years Evergrande’s liabilities ballooned to over 300 billion USD. In comparison that is more debt than the GDP of New Zealand at 206 billion USD.

You can see how a company worth more than a developed countries GDP defaults, it can have a massive impact on China, and the global economy. Evergrande is trying to not default on its upcoming due date, but if it does, the company can go into liquidation.

The Company’s stock has tumbled, falling 85% this year. Showing that shareholders are not confident in any recovery.

The Chinese government appears to start to help, with cash injections into the financial system to help settle investor confidence. The government is also showing that it wants to protect thousands of Chinese people how have bought unfinished houses.

This is worth watching in the upcoming month. As the default could cripple the Chinese economy and send shock waves across the globe.

Now for Octobers Net Worth Update

Portfolio Goal

It’s my goal to reach $1,250,000 by March 2022. 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 January 2022.

Net Worth Summary

Cash reserves: have steadily been increasing with a total of $83,902.

This is going to take a hit this month as I purchase a new car, with a 50% deposit.

Share Portfolio: $121,036.

This has taken a bit of a hit this month with the downturn in the markets, and hopefully, the outlook is more positive for October pending Evergrande.

Vanguard Australian Shares Index$67,646loss of $1,751
Magellan open class$22,825loss of $585
JB Hi Fi$12,637loss of $91
Nearmap$9,731loss of $1,286
Medibank$5,696gain of $16
Santos$2,499gain of $369  

I did see dividend income in September: $619

  • JB Hi Fi               $424
  • Medibank            $157
  • Santos                 $38                       

This was an overall loss of $2,709

Real estate: Equity worth $703,952, Rental income of $1,330.

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 $2,525

Rental expense:

  • Mortgage Interest: $953
  • Fees: $157
  • Insurance: $85

This month was positively geared by $1,330

Superannuation: $357,027

This is updated bi-annually.

Net worth total: $1,237,154

Overall, a change of $5,159 or 0.42% leading to a net worth increase.

Income vs expense: $4907 Saving (56% saving rate)

This was a good month of savings; however, the gain will soon be stripped away due to a new car purchase.


  • Salary: $8652


  • Spending $2202
  • Home Loan: $1543

October Goals:

  1. Get back into some form of exercise post lockdown
  2. Finalise car finance
  3. See net worth grow by $3,000 at the minimum
  4. Write one article on the Blog


  1. I think you should write it off as a large loss. You talked about the depreciation in your last post. I believe the government does take car value into account when assessing for the pension, but… it doesn’t feel right for FIRE.

    Seeing your goals is a reminder I need to get back to making some and then reporting back for accountability! Exercise needs to be one of mine as well.

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