We are getting close! Only 198 days left until the end of Project 1000!
At this stage our numbers look quite promising. If things don’t go terribly pear-shaped over the next few months we should be able to reach our goal by the start of next year. Of course we are in a recession (which the markets seem to ignore at the moment) and it looks very much like Australia is facing a second wave of the evil virus. So the future is extremely unpredictable at the moment. We’ll keep our eyes on the prize while we hope for the best and prepare for the worst.
Let’s get into the numbers!
I could not believe my eyes when I calculated our numbers for the monthly update. Our Flamingo FI nest egg grew from 84.2% to 90.3% of its target size in June! Incredible. The first half of this year has definitely been a roller coaster ride. Of course it could all go downhill from here but for now we are really happy we cracked the 90% mark!
Shares: Mr. Flamingo received a big parcel of employer shares in June. We sold most of them straight away as the current share prices seems overvalued to say the least. Our index funds inside and outside of super went up a bit. We added some more IOZ and IOO to the portfolio.
Investment Property: No change over the last month.
Cash: As always we added some more funds to our cash bucket. While we still buy shares every month we have focused a lot more on building up our cash buffers over the last few months. We want to be ready when good buying opportunities present themselves. Plus, no one’s job is 100% secure in the current environment so having a little extra cash on the side definitely helps us sleep at night.
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!