Project 1000: August 2020 – 177 Days to Freedom

Another month, another update. Time seems to fly at the moment. Only 177 days left until the end of Project 1000!

Our numbers continue to look good. But as I mentioned in the last update I don’t really trust the market at the moment, it all seems a bit like the silence before the (economic) storm.

Flamingo FI

Another great month for our Flamingo FI nest egg. It grew from 90.3% to 93.8% of its target size in July! We are getting really close now!

Shares: Our index funds inside and outside of super went up a bit over the last month. Our employer shares did quite well and we sold another small parcel of Mr. Flamingo’s shares. And we added some more IOZ and IOO to the portfolio as always.

Investment Property: The estimated market price went down a little bit. I don’t have much trust in these estimates but it is the best indicator we have.

Cash: We added some more funds to our cash bucket. As I mentioned many times over the last few months this is a priority for us at the moment.

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!

 

8 thoughts on “Project 1000: August 2020 – 177 Days to Freedom”

    • Thanks Karl! We initially planned to take 3-6 months off to unwind, spend time by the beach, see family and possibly travel a little before getting back to some sort of work in semi-retirement. Now with the Covid situation making everything a lot less predictable (and travel impossible) we are not sure. Let’s see what the next few months bring…

      Reply
  1. Im no superannuation expert, in these crazy times what strategies are you using to ensure your super nest egg doesnt drop as you have just about 50% of investments involved in super? i know you can choose conservative investment option mixes but they also still lose money when times are tough?

    Reply
    • We still have 20+ years to go until full retirement when we need our super funds, so we are not concerned about short term drops. Our super is invested in index funds, so we’ll just ride out the ups and downs for now.

      Reply
  2. 93.8% OMG so close guys! 177 days will tick by so quickly, what are you down to, 159 days now? 😉

    Has the reality of reaching FI started to set in? Also, wondering why you are wanting to have so much cash given the risks of inflation and underperformance?

    Reply
    • Hi Captain FI! 🙂 No, it has not really set in yet at all, we are just so busy with work and looking after Baby Flamingo that we hardly think about it, to be honest. The cash allocation is only temporary, it feels right to have some generous cash reserves in place at the moment, but over time most of the cash will be invested in shares, our target allocation is about 10% cash.

      Reply
  3. Hey! Just came across your story and we’re so impressed by how close to your goals you are. Rooting for you both to get there!

    Was wondering – what is semi-retirement looking like for you? (Apologies in advance if this is already explained in another post! Just a new reader here looking to learn more about you)

    Reply
    • Thanks Jordan! 🙂 We are still working on our plans for semi-retirement. But in general, we want to both move to part-time work (I want to stay in my current field of work, Mr. Flamingo wants to do something more hands-on). We will most likely move away from Sydney because of the cost of living. The main focus for us is to spend more time with our toddler and have more time and energy for hobbies and adventures.

      Reply

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