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.
October was a big month for us. We found an investment property and are currently in the settlement phase! Exciting times. I won’t go into any detail about our property purchase until everything is final though. Watch this space!
As you can probably tell from this post’s cover picture the rest of our investments didn’t do so well in October. This is the first time since the start of Project 1000 that we moved backward. There are two reasons for this: 1) Our NASDAQ shares dropped 15% last month. Ouch! 2) We used our monthly cash savings to pay for some costs relating to our property purchase (solicitor fees, inspection costs, building insurance etc.), so no fresh cash was added to our savings account in October.
Overall, we got 0.1% further away from our 1000-day goal in October.
Now let’s have a look at the individual buckets that make up our total goal:
Our Flamingo FI nest egg actually grew from 56.6% to 56.8% of its target size over the last month. However, we added the small amount of savings that had been sitting in the Headstart Fund to the deposit for the investment property. So overall, we went back a step.
We had to pay a small deposit amount to secure after we signed the IP purchase contract. So property is now officially part of our Flamingo FI portfolio!
As mentioned above, our employer shares on the NASDAQ dropped a whopping 15% in October. Seems like it is true that what goes up must come down eventually…
This is what our current asset allocation looks like:
Thanks for reading! See you back here for next month’s update!