Jan 2019 Net Worth $80,810 (+$7,375)

Here is my first net worth update. I will aim to do one each month until I hit my FIRE goal of $1m.

Net Worth Tracker

Cash Position
I paid off both my credit card balances last month ($14k worth) and cancelled the cards. They were both on 0% balance transfer offers so I didn’t pay any interest at least. I also recently finished paying off my HECS/HELP loan (via mandatory repayments only), so I am now officially debt free! Great way to start 2019.

Share Portfolio
I’m still yet to start my LIC/ETF portfolio. Opening a SelfWealth account is on the To-Do list for this month.

Cryptocurrency Portfolio
Sold off $5k worth of crypto for fiat last month. Still holding onto the rest for now, especially as a lot of it is tied up in presales for projects which have not yet released their tokens.

Car
Some say you should not consider your car as an asset, as it doesn’t generate any income. My contrary view is that it should be part of your net worth figure, as long as you value it at a conservative price which it could sell for quickly. The market value of my car is closer to the mid $40k range (and insured at an agreed value of $50k), however if I needed cash urgently I could offload it for $35k quite quickly.

Super
Last month I moved my super away from AMP. Their unethical business practices uncovered in the Banking Royal Commission has lost them a customer.

I have elected to go with Sunsuper. I love how they have a partnership with Vanguard and can therefore offer access to Vanguard index funds. My super is now 100% in equities via the following allocation:

  • 50% in Australian index funds
  • 50% in international index funds (unhedged)

Being 31 years away from preservation age, I think going with the highest risk/reward asset class is the best option for me. I don’t want any of my super to be in safe/defensive assets such as bonds or cash at this point in time.


Thanks for reading!

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