Welcome to the latest Project 1000 update! This is where we share the progress of our 1000-day journey to freedom once a month. New readers: If you have not read our plan yet, I recommend you do so now and then come back here. 

Life Update: Flamingo Jr. is here!

As you might have guessed from the cover picture of this post, we have some exciting news to share! We had a baby!

A few weeks ago we welcomed Flamingo Jr. to our little family. This probably comes as a surprise to most readers as we decided not to share the news on the blog until after the baby was here (to be honest, it feels a little weird to share things like that on an anonymous personal finance blog). But now I’m happy to announce the safe arrival of our happy little baby boy!

Image credit: Pavel Vlček

We want to fully focus on getting to know the little guy for now, so things around here will be a little quieter than usual in the next few months. But I will still post our regular monthly updates and have some new articles and case studies in the works too, it will just take a bit of time to finish them. I also have quite a few unanswered reader emails in my inbox. As always I will get back to everyone, it might just take a while.

Of course, adding a baby to the mix also has major implications for our financial plans. I will write about that in more details sometime soon. All I want to say for now is that meeting Flamingo Jr. has made us even more motivated to reach Flamingo FI as soon as possible! Our overall plan has not changed and we are still set on leaving the rat race in early 2021.

Project 1000: March 2019 – 688 Days to Freedom

Now, let’s get to our regular monthly progress update:

Overall Goal

Things progressed according to plan in February. We finally had our first month without major expenses for our investment property. Hopefully, it should be smooth sailing for the foreseeable future.

I received some employer shares last month, some of which I sold straight away. The share price is quite high at the moment, I don’t want to have too many individual shares (especially employer shares) and we wanted to boost our cash buffer a little.

Our employer share portfolio went up a little in February and our Super funds did not do too badly either.

Overall, we got 2.4% closer to our 1000-day goal over the last month. Not bad at all!

Now let’s have a look at the individual buckets that make up our total goal:

Our Flamingo FI nest egg grew from 55.2% to 58.7% of its target size in February. We are getting there!

Flamingo FI

As mentioned above, I received and sold some employer shares last month. We added the sales proceeds along with our normal monthly savings amount to our Flamingo FI nest egg. All of our cash now sits in our IP offset account. At this stage, we are not quite sure if we want to buy some ETFs soon, save up for another IP deposit or start filling the other buckets (Headstart Fund and Lump Sum) first. Now that we have Flamingo Jr. on board, we have lots of things to consider, so I am happy to keep the cash in the offset account until things have settled down a bit and we are ready to make a decision.

This is what our current asset allocation looks like:

 

Thanks for reading! See you back here for next month’s update!