FIRE Progress – May 2020

From April to May, my networth increased by 29.3% to $44,166. It was quite a jump from April, but it probably jumped so much because my net worth actually decreased 14% throughout March to April – spurred on by the decreased amounts in investments due to the COVID-19 pandemic. Getting close to my goal of $100,000 by the end of the year though!

The main jumps were my ASX portfolio and my cash holdings. Everything else also increased as well.

My ASX portfolio has really bounced back from the declines it saw throughout March and early April. From this time last month it has increased 6.4% compared to the market at -0.18%. Super happy about that.

While my portfolio isn’t where it used to be in terms of total profit/loss, it’s great to see that all the investing during the depressed market is really paying off. I’m still about -4% from previous starting point, but considering my portfolio value is now higher than ever – it’s all working out as planned. And considering it’s now almost $45,000, it’s getting close to my end of the year goal of $70,000.

My cash deposits were mostly improved due to the magic timing of April where I actually just skim in 3 payslips from my full time job instead of the normal 2. So that really helped to add a bit at the very end.

It also helped that my savings rate for April was 66% 😀 This was actually helped by all the restrictions with the pandemic – I could no longer randomly go out and buy stuff, eat out, or anything like that. Even with a few very large purchases (new phone and e-bike conversion kit), not having a car and saving hundreds on petrol and insurance has really helped! We share a car at the moment, but there are things close enough to walk to for small items.

So excited to see where I’ll be in a few months time when things are rebounding from the pandemic. At this stage, it’s going very well.

One thought on “FIRE Progress – May 2020

  1. Pingback: 2020 Goal Progress – May – Nathan Challenges Life

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