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Net Worth Update April 2021

Well this is kinda uncomfortable... 😳

…this month in our Net Worth Update we´ve jumped from 680k to 915K taking us the closest we´ve been to the one milly mark!

Who increases their Net Worth by €235,000 in one month and then publishes it online?

This oversharing weirdo!

Why? Well because once I was totally clueless about money and felt pretty dumb for not having figured out earlier all that adulting stuff like savings and pensions.

I was waay too embarrassed to ask a real human for help so as every genius does in a crisis, I turned to the web.

And whaddya know? Turns out there´s a whole happy community of amazing personal finance bloggers willing to share their very personal journeys with money.

People like her and him and this family were exposing the details of their income and expenses in a monthly Net Worth Update. I was blown away by people´s generosity, sharing their wins and fails so other people could learn.

If you´re looking for inspirational reads to help you on YOUR journey check out the HUGE blogroll of European Personal Finance Bloggers

Going online to read a Net Worth Update from total strangers became a weird little hobby.

After awhile I was inspired enough to start tracking our expenses which was such a small, effortless monthly task but it totally transformed our lives.

We went from knowing nothing at all about money to increasing our Net Worth by about €100k every year.

The more peeps get comfortable with taking about money the bigger of a win it is for everyone. Sharing my numbers here isn´t about being braggy or icky, i´m just hoping to help normalize money talk and maybe inspire someone to start tracking their own finances in your own monthly or even yearly Net Worth Update.

Ok, so, enough blabbering, you want the juicy details of how exactly we come across over €200,000 this month, right?

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Well, long story short, Mr NWG took redundancy from his pain in the arse day job.

Redundancy is something we always knew was on the cards in Mr NWG´s line of work. It was almost a guarantee and one of the reasons we were motivated years ago to save, invest and get ready for this day.

We´re both busy, motivated people and hope to work for many years to come. However we have both wanted to leave corporate hell for years and work for ourselves on projects we find truly fulfilling and motivating. 

Taking redundancy and going self employed in the middle of a world wide pandemic might not seem like a plan born from genius but is there ever a perfect time to do anything scary?

While painfully close to the meaningless but equally alluring milly mark this will be the closest we get in what will probably be many years.

Apart from the monthly loss of income we also need to invest money to get our business started so the figures in our Net Worth Update will start plummeting down. 

As necessary and planned as this is it still makes me want to vomit in my mouth when I think about it and after years of such hard work to push that figure up it will be “hard” (understatement) to watch it drop down.

I´m hoping it won´t drop below €850,000 and we won´t need more than 2 years to start rebuilding from there, but it´s anyone´s guess.

So feeling all the feels this month, scared, blessed, nervous, proud of how far we´ve come and pretty excited about what will come next.

Here´s the breakdown…
 

Net Worth April 2021: €915,804

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Cash

So cash is through the roof this month until we finish moving money around.
 
A far bit of cash has already flown the coop, repairs needed around the property and helping some folks around us. 
 

Most of the redundancy will go into stock portfolio and we´ll leave our cash reserves as they were before with a nice fat safety net to cushion us from the loss of income.

 

Investments

Our investment goal has always been to hit €500k and from there stop investing and let it grow. Most likely that number will end up being around €460k which we´re super happy about.

If we never invest another penny, at a 6% average return upon retirement in about 25 years our little money baby should have grown to around €2,000,000!!

This peace of mind is unbelievable. 

 

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Real Estate

One of the properties has seen a drop in rent of €100. The tenants in this property have lost some work due to the pandemic and asked for this reduction in rent, we´re so stoked we´re in a position to help.

Other than this no change in our other two properties.

How did this happen?

Since we first calculated our Net Worth in January 2017 we´ve increased our wealth by €684,000!

If we hadn´t started learning about personal finance 4 years ago there is no way in hell this would have happened on it´s own!

Some of the stuff that helped this happen:

So this, amazingly, is where we´re at…

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