Bogan Wealth – May 2017

Holy Testicle Tuesday! I’m so close to being worth 6 figures I can taste it!

It’s my birthday next month and I’m desperately trying to hit a 6-figure net worth by then! Unfortunately with one of my properties being valued slightly lower earlier this year, my net worth took a hit, but I’m still within spitting distance of my goal!

Speaking of properties, mine continue to plod along. Interest rates (the banks’, not the RBA’s) have risen quite a lot – lucky I fixed mine at 4.19%. I plan to sell before this rate expires however. I did have great plans for these properties but the fundamentals have changed. One of them is a cheap ass house but you could squeeze 3 townhouses on that block, and they would have sea views! Surely that’s worth something.

My shares have performed well. Still a bit of volatility (I lost $481 today alone!), and I’m slowly learning that I can’t always pick the right stocks. My selections have under-performed in the recent bull market, but they have outperformed in the last few weeks as the ASX200 has fallen. Overall they are up a bit this month which is good to see. I bought my first ever Listed Investment Company (LIC), and the dividends are also starting to flow.

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This month was shithouse for income, due to it being a 4-week pay period which included all of those public holidays (casual employment yay). I also decided that it would be a very poor (albeit awesome) decision to buy a huge block of land. Which sucks, because I need somewhere to drag race and not get arrested.

 

Here’s May by the way:

Property

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

Shares

$24,973 in six five companies and one LIC. I have received $157.80 in dividends (which are tracked here) so far this month. (Change: +4,285)

Cash

$9,674 in an offset account, saving me 4.19% in interest. (Change: -$647)

net worth may

Not giving in!

Previous net worth: $91,132

Current net worth: $94,590 (+$3,458)

We’re gaining traction now! Only $5,410 until I hit the elusive never-before-seen $100K. I’ll be working 12 hour days for the next week so maybe I’ll make it before my next update? With a little luck in the sharemarket I just might. Who wants to make a bet?

COUNTDOWN: 49 Months Until I’m 30

It’s now been 36 months since I started investing & my net worth has grown at an average of $2,627 a month. At this rate, I have a projected net worth of $223,337 by the time I turn 30. This is an increase from last month, finally, an increase! Fuck yes. Winning.

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 June, and I’ll be 26! Holy shitballs, someone get me a beer.

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