In the coming week I will also upload my annual performance review which tends to give far more detail about how my portfolio is structured. My apologies for the late posting of this month's net worth. I was on leave from work (and my computer) for a few weeks as I was getting married and moving home...I will also post more about what is happening on the personal front soon.
Before I take a deep dive into my performance this month let's have a look at the headline numbers.
June 2015 Net Worth: 561,000 (-0.9%)
Value
|
% Change
| |
|---|---|---|
Assets
|
$957,000
|
-1.5%
|
Liabilities
|
$396,000
|
-2.3%
|
Net worth
|
$561,000
|
-0.9%
|
There were so many things going on this month and I could honestly write thousands of words dissecting every line item however I will spare you the boredom and outline the major things which affected my net worth.
My share portfolio fell ~5% during the month (~$258,000 to $246,000)
- This month removed all the gains I had last month and even more. The Australian market absolutely tanked this month on a combination of downgrades, worse economic data and European fears around Greece all contributing for a shocking end to the year
- I should have taken advantage of the falling share market however preparations for my wedding took over and I just sat on the sidelines watching my portfolio fall
The actual payment of wedding expenses all happened during this month
- I have a pretty high limit on my credit card ($12,000) and I don't think I've ever run so close to the limit for so long
- Last month I paid my credit card down to $2,200 however this month I got so close to the limit that I had to pay it down by $4,000 during the month (which hurt my cash balances) to end the month at $8,400
My future liabilities balance reduced significantly as I paid off wedding expenses (~$41,000 to $26,000)
- At the start of the year I decided to account for the fact that I had all this cash sitting in my account to pay for my wedding, honeymoon and sports car. This made my net worth look significantly better than it actually was and I added a liability which offset this cash
- As I started to pay for wedding expenses the liability reduced significantly
- The reduction actually more than offset the outflows because my fiance (now wife) was paying a significant share of these
Given my share portfolio has grown to a significant part of my net worth I'm not surprised that I occasionally get months like these. Perhaps I could have been more aggressive in taking advantage of the fall in share prices but the market hasn't returned to where it was so there are plenty of opportunities still available.
June 2015 Goal Tracker
Boom! Another goal accomplished this month. My upcoming honeymoon has been fully funded and saved for. Further I am halfway to having a decent emergency fund in place. My share portfolio took a real hit this month but everything I can control is going really well.
At this rate I'm going to achieve my goals well before the end of the year and then I need to work out what comes next.
| Goal | Jun 15 | 2015 Total | 2015 Target | Remaining | Achieved? |
|---|---|---|---|---|---|
| #1: Get Married | +$0 | $5,000 | $5,000 | $0 | YES |
| #2: Honeymoon | +$5,336 | $20,000 | $20,000 | $0 | YES |
| #3: Home Deposit | +$0 | $0 | $40,000 | $40,000 | No |
| #4: Emergency Fund | +$833 | $5,000 | $10,000 | $5,000 | No |
| #5: Share Portfolio | -$12,422 | $245,664 | $276,000 | $30,336 | No |
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May 2015 Net Worth: $566,000 (+2.6%) and Goal Tracker
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Good to hear an update! Congratulations on the wedding are in order too?
ReplyDeleteLooking forward to hearing about that although a shame to hear about the net worth update, I'm pretty optimistic about the market though & sure we'll see you keep smashing it
Heading down your neck of the woods next week too, hit me up if you're around.. I'll be there Thursday - Sunday for the soccer although staying with a few buddies might be able to catch up?
Thanks Jef! Looking forward to catching up over the next few days. By the way if you are looking to catch some of the Man City players they are staying in the Grand Hyatt...saw a few of them yesterday.
DeleteThe wedding did happen and it was great! I was thinking about it recently and I think I posted on the blog that I was thinking about getting engaged well before I told any of my friends or family.