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.
The Flamingo kept walking down the hill in November – this is the second month in a row where (investment-wise only!) things went in the wrong direction for us. What’s going?
The main reason is that we had to pay for more costs relating to our investment property purchase – especially the stamp duty. I found paying the stamp duty really painful for some reason. I guess just feels bad to write the government a cheque for such a large sum of money that is basically just a sunk cost with nothing in return. Oh well. Then there were our NASDAQ shares, which went down another couple of percent in November. Our Super accounts also went down a bit along with the wider market.
Overall, we got 1% further away from our 1000-day goal in November. We are not concerned about all of this as we a) knew what costs are involved in buying an investment property and b) can’t do anything about the share market.
Our investment property will finally settle later in December! After settlement will do some minor renovations before we start looking for a tenant in the new year. Exciting times!
Now let’s have a look at the individual buckets that make up our total goal:
Our Flamingo FI nest egg is down 1.4% – it shrunk from 56.8% to 55.4% of its target size over the last month. Not great, but expected.
We had to pay the second installment of the deposit for the investment property. So the property component of our nest egg grew a tiny bit in November.
Mr. Flamingo and I both received some employer shares in November and added some fresh cash to our savings account. However, all of that was not enough to offset the share market losses and the stamp duty cheque we had to write to the government.
This is what our current asset allocation looks like:
Thanks for reading! See you back here for next month’s update!