Bogan Wealth – April 2017

The Easter Bunny delivered a nice pay day just in time for the long weekend. Read on to discover the chocolatey goodness.

Greetings to all you wascally wabbits, I’m sure you’re keen to see how my money is doing.

Both properties are going smoothly; tenants pay rent, they don’t complain, it’s great. As I bought in at the low end of the market in rapidly improving areas, these are slowly becoming more desirable suburbs for First Home Buyers. One of the council areas is even installing bins with fricken laser beams.

If the government passes the bill to allow young people to raid their superannuation to buy a house, that can only increase prices. This could be good for me financially; not so good for our country as a whole.

Shares remained steady, I did some re-jigging of my portfolio. I’ve shed a few all-rounders and targeted some higher income stocks. Money seems to be flowing towards the dividend payers lately.

I’m off to look at a block of land out in the sticks this weekend. It’s only a kilometre from the beach, and is 100 acres with a small shack. It would be a great weekender, and I’d finally be able to realise my dream of building a replica Clipsal 500 racetrack. BUT – I’m not yet comfortable spending $150,000 on something that a) doesn’t produce an income, and b) I won’t use every weekend. It sure would be nice to have though.

Anyway, with Easter here, it’s time for the April update:


2 houses on large blocks, still standing. Total value now at $440K with $379,876 debt. Interest only loans. Equity: $60K (No change)


$20,688 in five seven companies. Sold one just to buy back in cheaper via capital raising, and another to diversify away from a sector. I have received $148.50 in dividends (which are now tracked here) so far this month. (Change: -$2,999)


$10,321 in an offset account, saving me 4.19% in interest. Yes, I reduced my interest rate! (Change: +$4,071)


Previous net worth: $90,060

Current net worth: $91,132 (+$1,072)

Almost back to where I was in February. Although it is nice just to see my net worth increasing again. When will I hit 100K? I don’t know, I’ll have to move the goal posts! At least, if I wanted to, I could go and buy one hundred and eighty two thousand chocolate eggs.

COUNTDOWN: 50 Months Until I’m 30

It’s now been 35 months since I started investing & my net worth has grown at an average of $2,604 a month. At this rate, I have a projected net worth of $221,321 by the time I turn 30. This continues to drift further away from my target.

This projection doesn’t factor in any potential pay rises, increases in rental income or equity, nor does it include my super, HECS debt, or my fully sick highly collectible V8 and dirt bike.

Up next is May! Fuck me, can this year stop moving so fast?


6 thoughts on “Bogan Wealth – April 2017

  1. I know this post is about finance, but I need to hear more about the sharks bins with fricken laser beams!

    I know the land would produce an ongoing return, but it sounds awesome. Could you use it to agist horses to bring in income?


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