No, I didn’t win the lotto last month. But what I did do is make a significant change in the way I calculate my net worth. Due to feedback from my readers and some good discussions on the r/fiaustralia subreddit, I’ve decided to:
- Remove my car ($35k) from my net worth
- Add my super ($68k) to my net worth
I think I’ve finally come around to accept the fact that my car isn’t an asset for net worth purposes. So it needs to be excluded from my net worth figures.
Regarding super, I was initially against counting it because can’t touch it for over 30 years. However one can’t ignore that it does play a significant role in reaching FI in our unique Australian retirement fund system. I’m beginning to lean more toward the two phase FI approach highlighted by Aussie Firebug in his Australian FI calculator.
It’s also going to be a super quick update this month. I’ve been very busy lately with a new (but extremely profitable) side hustle. Hopefully I’ll be able to write more about it in the next update when I have some more time.
Thanks for reading – see you next month!