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.
Another uneventful month in the Flamingo household – finance-wise that is. And that’s a good thing. As you can imagine we have our hands full looking after Flamingo Jr., so apart from the hour I spend once a month to check on our investments, we really have not thought much about our finances. At some point soon we will have to decide how we want to invest the growing pool of cash in our offset account, but for now, we’ll just let it sit there.
Last month, we added our regular cash savings amount to the offset account. We also both received our employer Super contributions – this will be the last time for a while for me as I am on maternity leave. Our employer shares on the NASDAQ went up a little and so did our Super balances.
In April, we got another 1.4% closer to our 1000-day goal. Looks like we’ll hit the 50% mark for our overall goal soon, how exciting!
Now let’s have a look at the individual buckets that make up our total goal:
Our Flamingo FI nest egg grew from 60.6% to 62.4% of its target size in April. We are making steady progress!
As mentioned above, we added some cash to our Flamingo FI nest egg like every month and we received our Super contributions. The equity in our IP also went up a little as we have a P&I loan. We are considering adding our cash savings to the other buckets that make up our overall goal over the next few months (Headstart Fund and Lump Sum). Now that we have a baby it would definitely be nice to have some additional cash reserves. I am aware that this is probably a normal instinct new parents have – wanting to create some more financial security. From a financial perspective, it makes a lot more sense to fill the Flamingo FI bucket first though in order to allow the money in our investments to compound for longer. Let’s wait and see who wins this inner battle.
This is what our current asset allocation looks like:
Thanks for reading! See you back here for next month’s update!