As we near the end of 2018, I thought this was the perfect time to begin this blog. Rather than procrastinate any further, let’s get into it! I’ll kick things off with a cliché quote.
“The best time to plant a tree is twenty years ago. The second best time is now.”Chinese proverb
Net worth at Dec 2018
My FIRE net worth (excluding super) at December 2018 is $73,434.
It’s always good to set yourself some financial goals each year. Here are mine:
Short term goals
- Track my expenses closely with Pocketbook and hit my target savings rate of 70% each month.
- Save mostly cash in my ING HISA for a first home deposit.
- Open a SelfWealth account and start my LIC/ETF portfolio.
- Hit a net worth of $150k by 2019 year end.
Long term goals
- Increase my income via promotions, finding more lucrative contract work, or through additional side hustles.
- Continue to consistently save at least 70% of my income (e.g. $7k out of a $10k monthly income).
- Hit a net worth of $1m by Oct 2025.