FIRE Progress – September 2020

September was an amazing month! I’m incredibly pleased with my net worth growth over August, if I keep this up, I’ll be at $100,000 in no time! (well over it given my calculations below :P).

If you want to see my previous posts on Financial Independence Retire Early, check it out here:

Net Worth

Throughout August, my networth grew another massive 16%! So happy to see it growing. This was helped by a few things such as my HECS debt dropping due to tax return, my super going up, as well as my cash deposits towards my house deposit has grown quite well. See table below for a run down of each contributer:

When looking at my graph for the growth of my net worth, again, it really has shot up the last few months, and has come a long way since April 2019 when I finally got into a positive net worth:

From the graph, it looks like it’s on an incredibly good trajectory. Having a quick look at the numbers, it seems that for 2020, my net worth has increased at an average of 14.9% per month! That’s pretty good I think!

Using some quick maths, and my quick maths I mean finding an easy to use growth calculator, if I maintained that average growth for the next months up until 2021, my net worth will be at approximately $123,000!

That’s insane! And also way over my $100,000 net worth goal for 2020. But the great thing with compounded growth, is that the more you have the faster it grows, and the closer I get to $100,000, the easier it will be to reach! This can really be shown in a super awesome article showing how the first $100,000 is the hardest and once you reach it, most of your hard work is done!

Australian Investment Portfolio

As for my Australian investment portfolio, I’m currently at a total value of $56,573, and currently sitting at a current net profit of $8,725 (18.2%).

This is going really well. I’ve stopped contributing towards this due to saving for a house deposit, but it’s great to see that it’s grown $3,000 without me touching it for the past 2 months! That’s so cool!

Still aiming to have it at $70,000 by the end of the year – while my house deposit goal has slowed that down, I’ll see how it goes closer to the year, and if I can prop it up a few $$$ to get there I probably will. This will make sure I’m on the right track for financial independence at 40.

When looking at selfwealth, there has been a really good growth since importing my portfio, as shown below:

Savings Rate

For August, unfortunately I only managed a 15% savings rate. It didn’t help that I had to pay the ATO $3,000 but sometimes things need to happen. I did have a few other large expenses like a utilities bill of $300 and a car service of $250. The rest of the spending was okay for the month, so I’m happy with how I went regardless:

That’s my August update!

Really happy with how it’s going. For September, I would like to make sure that my savings rate is over 15%. I’ve really gotta have a few solid months way over 50% to make sure I’m at an average of 50% by the end of the year. But, considering I have my ACL surgery in mid-September, that kind of helps limit my spending on activities as I won’t be able to do much for about 6 months 😛

The net worth is going really well – so excited to see what it is next month – I don’t think I’ll be having any negative months, but can’t rule everything out completely. If I can grow at even 10% a month that would be amazing.

If you have any questions, I’d be happy to answer any of them!

Until next month, challenge yourself to make better choices, challenge your thoughts and ideas, and challenge your own mind to realise what is possible.


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