Only one month to go before the end of 2020! I’m really excited for this last month as I’m so close to reaching a few of my finance goals for this year. I’m even more excited for 2021!

I made a lot of progress towards my financial goals over November, mostly due to the state of the market, but also still working hard on saving 50% of my income and investing when I can.

If you want to see my previous posts on Financial Independence Retire Early, check them out here: https://nathanchallengeslife.com/fire/

Net Worth

November was an excellent month for my net worth. It increased by $10,769 (14.1%)! Another jump like this and I’ll be really close to reaching my goal of $100,000 by the end of 2020! As you can see below, a lot of this is due to a broad increase across pretty much all of my investments (apart from US). While I did add extra funds to my ASX porfolio and super as usual, there was a random increase in my small cryptocurrency portfolio over the month (~29%).

Given the 14.1% increase over November, my graph is looking pretty good right about now! Although, of course, because the total value isn’t a large amount, I can expect quite drastic increases at this earlier time – it will be interesting to see how it goes when my net worth is closer to $500,000.

I was really happy to see the 14% increase, it gets me that much closer to my goal of $100,000 by the end of 2020!

Self Wealth Investment Portfolio

My ASX portfolio jumped a bit over November, mostly due to extra deposits from my house deposit fund – Given I’ll be looking to buy a house in the next year or two, I thought I’d put my money in a stable bond fund, giving 3-4% interest annually, rather than keeping it in a savings account (terrible interest). Also, the fund, CRED, provides dividends monthly! Which is really great for reinvesting.

Still aiming to have it at $70,000 by the end of the year for my investment portfoio! It’s getting really close, but hopefully with a few more pays, some solid saving, and a good month in the markets, I can reach it!

See below for my returns over the different timing periods – really happy to see that my annual return is so high (only calculating my FIRE age based on 6% return per year) – hoping that next year goes just as well if not better!

Savings Rate

November wasn’t the best month for spending – a lot of larger expenses occured (car, utilities, and a few more). I only managed to achieve a 31% savings rate.

After doing some calculations, even if I saved 100% over both November AND December, I wouldn’t hit my goal of a yearly savings rate of 50%. Will need to work on this for next year, but I’m happy with how it’s gone this year. It’ll be interesting to see my total next month. Check out below for the breakdown:

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That’s my November update!

How has your money situtation changed over 2020? Have you done anything new like invest, buy a house, or start a house deposit?

I’ve already started getting super excited about next year and what I want to achieve and do.

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

Nathan