Project 1000: June 2020 – 240 Days to Freedom

Welcome to our June update! The markets have continued to recover over the last month. As you will see below our nest egg (fuelled by our saving efforts) has done very well in May. At the time of writing Australia has officially entered recession territory, so we are fully aware that our investments might take a hit over the next 6-12 months.

Our situation has not changed much compared to last month. Mr. Flamingo and I are still working from home while looking after Baby Flamingo. We have started going to our offices sporadically, but it with so many workplace restrictions still in place it willl be quite a while until things go back to normal. We are trying to keep our spending down and saving as much as we can and continue to invest regularly.

Let’s have a look at our numbers for last month.

Flamingo FI

Our Flamingo FI nest egg grew from 77.7% to a whopping 84.2% of its target size in May. What an incredible result! I’m obviously really happy with these numbers!

Shares: I received some employer shares in May. I sold most of them straight away to take advantage of the high share price and favourable US$ exchange rate. Our index funds inside and outside of super as well as our employer shares went up along with the broader market. Just like last month we added some more IOZ to the portfolio.

Investment Property: The estimated market price increased slightly.

Cash: We added more cash savings than usual. We are spending a lot less on eating out, coffees, childcare, etc. at the moment and are not saving for any major holidays, so we are using the extra money to increase our cash buffers. We don’t know what this recession we are heading into might mean for our investments and job security, so it feels right to put some additional funds aside.

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!

 

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