October 2024 | Our Journey to Semi-Financial Independence: Income, Expenses, Net Worth, and Investments
We skipped the September update due to our travels from September 25th to October 25th, so let’s dive straight into October.
Income and Expenses
With most of the month spent overseas, expenses stayed light. We had set aside a separate fund for travel, which kept our usual spending patterns steady. The only real standout in our expenses was groceries—totaling just under $600 with two shops at $300 each.
Housing and healthcare took a slight hit due to the 5-week month, meaning three rounds of payments for mortgage, rent, and private healthcare rather than the typical two.
Net Worth
This month’s win was a net worth increase! A recent review revealed some adjustments: I’d mistakenly under-recorded our mortgage balance by $30,000, which I’ve now corrected. In addition, I included a few cash reserves not previously captured. These additions encompass:
$418,000 allocated for our house build,
$19,726 in travel savings, and
$7,030 in emergency funds in an offset account with our mortgage.
Seeing these reserves factored in brings our goals into clearer focus.
Investments: The Road to Semi-FI
We’re now 21.7% of the way toward our goal of a $650,000 share portfolio by age 50! October included a regular investment, and I’m excited to introduce a new addition to the portfolio: Betashares Asia Technology Tigers ETF (ASIA). This is a slight deviation for me, but the potential upside was too good to pass up. With the surge in Nasdaq tech stocks and the downturn in the Chinese economy, I see promise in a small, calculated exposure to Asia’s tech market. Ethically, it does raise questions, but the potential reward feels worth the investment.
The screenshot below from Sharesight shows how our ETFs and stocks moved throughout October. The month closed with a gain of $1,012, largely due to US-focused VESG and NDQ holdings, covering the top 100 companies on the Nasdaq. Australian stocks dipped slightly, but a dividend payout helped balance that loss.
Summary
October proved to be a valuable month for reassessment and refinement. Travel allowed us a break from the usual grind, and the added transparency in our net worth paints a more complete picture of our progress. Moving forward, the additional ETF and recalculated reserve marks a step closer to semi-FI, reflecting a commitment to both our long-term financial independence and a lifestyle filled with meaningful moments.
Images for expenses, net worth and investments is from Pearler.com. Use LUKE62560 is you wish to sign up.
Images of detailed investment movements, including dividends come from Sharesight.