Project 1000: April 2020 – 289 Days to Freedom

Sorry to keep everyone waiting for our April update!

I’ve received quite a few messages over the last couple of weeks from readers asking about an update, some even suggesting we have gone quiet because our plan is not working out. This couldn’t be further from the truth! We are soldiering on and trying to make the most of these difficult times.

Mr. Flamingo and I are both working from home now while we look after Baby Flamingo (who we shoud probably call Toddler Flamingo now), so we are busier than ever.

As far as our finances are concerned, our plan has not changed at all. In fact, we are still positive we can reach our goal by the end of Project 1000. Of course there are lots of things going on in the world right now and markets are crazy. We don’t know what the next few months will bring. All of this stuff is outside our control, so we try to focus on the things we can control: keeping our family happy and healthy and doing our best to come out the other side of this crisis stronger. We are still saving and investing as much as possible. Simply put, we are staying the course. That’s all we or anyone else can do at the moment.

I hope you are all keeping safe and healthy!

Let’s dig into our April update!

Flamingo FI

March definitely hurt, but it wasn’t as bad as it could have been for us. Our Flamingo FI nest egg shrunk from 80.1% to 75.7% of its target size last month. The reason we were not hit as hard as some others is the structure of our portfolio and the shares we own. We also hold a fairly large amount of cash and fixed interest which helped limit the damage a bit.

Shares: All of our index funds got smashed of course and at the end of the month we were down about 20%. In contrast, our employer shares on the NASDAQ didn’t do so bad. While they were hit hard mit-March, by the end of the month they were back up to roughly the same value they were at the end of February. Lucky! We also bought some shares – a few smaller parcels of IOZ and IOO.

Investment Property: The estimated market value went down a tiny bit last month. I don’t expect the property market to do much at all over the next 6 months or so, so I don’t think there will be too many changes in value for a while.

Cash: We added our regularly monthly savings amount and used some of it for our share purchases.

Asset Allocation

This is what our current asset allocation looks like:

And here is our current split between assets inside and outside Super:

 

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

 

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.