Current net worth: $490,000
Oh man. So this is beyond my wildest dreams right now, especially considering I don't have full-time employment right now. I left the last job because I wanted to diversify my skill set, and landed on a very nice consultancy job (in terms of content. Pay is ok, but not to the level of what I was earning before). I'm working quite a lot, but at least I'm also putting money in the bank!
About 2.5 years ago my net worth was only at $180k. 2.5 years later, it's $310k higher!
So... what happened?
Well, I bought an apartment that subsequently went up in value by $120k the month I bought it.
I also got a severance package from my former employer. Talk about a soft landing.
And I've kept working. This new employer is fantastic from the technical side - amazing boss, really interesting content. I am re-negotiating the contract right now to see if I can get paid more.
About 2.5 years ago my net worth was only at $180k. 2.5 years later, it's $310k higher!
So... what happened?
Well, I bought an apartment that subsequently went up in value by $120k the month I bought it.
I also got a severance package from my former employer. Talk about a soft landing.
And I've kept working. This new employer is fantastic from the technical side - amazing boss, really interesting content. I am re-negotiating the contract right now to see if I can get paid more.
Upcoming expenses:
Monthly living expenses $3350 x 3 months = $10,050
With childcare, our expenses are definitely not low. But at least our rent now is not expensive.
Trip to Canada (to see grandparents): $3000
Trip to Portugal: $500
Yep, we have to buy a plane seat now for baby - talk about increased expenses!
Total: $13,550
With childcare, our expenses are definitely not low. But at least our rent now is not expensive.
Trip to Canada (to see grandparents): $3000
Trip to Portugal: $500
Yep, we have to buy a plane seat now for baby - talk about increased expenses!
Total: $13,550
Upcoming income (till Dec):
Job 1: $30000
Job 2: $10000 Oh the beauty of tax returns.
Job 3: $1300 There will be a little bit of extra income. Hooray!
Total: $40,300
Total: $40,300
Expected net worth Dec 2019: around $510,000
So, I've been hitting (or exceeding) my net worth projections, despite having left full-time employment in Jan 2019. I must admit I didn't expect this at all - back in Jan, sitting at $400k, I thought optimistically that I could increase it to $450k by the end of the year. This is therefore incredible.
One big thing coming up is figuring out what I am going to do about savings and investment now that we have moved, likely permanently, to Switzerland. Yeah, $100k of this $510k is sitting around doing nothing. I absolutely do not need this cushion as I can find work in a day (I am not joking)... so I need to get that money working for me too. I don't think my emergency fund needs to be higher than about $5k given the work situation right now.
The goal is to keep increasing net worth by ideally $100k a year. And to switch these projections to CHF, so a very reach goal - this will take a while - is to save $10k CHF a month. My three possible paths to get there are:
1. Better investing - consider buying a property/real estate funds, make sure all my money goes into index funds now, possibly other investing such as personal lending.
2. Find a full-time job in public health - UN agency, consultancy, or university
3. (back-up) learn German, then work as a doctor
But honestly, this blog should be more about my career goals than financial goals. Because although money is important, it distracts from the real goals of life - to lead a meaningful, full life where you have a great deal of positive impact on your family and through your work. I hope to get there a lot more than I hope to have money, which is really just an enabling factor. I think I lost track of this a bit in the last decade (being in serious debt does that to you!) but I am getting perspective back, and I think that is very healthy.
One big thing coming up is figuring out what I am going to do about savings and investment now that we have moved, likely permanently, to Switzerland. Yeah, $100k of this $510k is sitting around doing nothing. I absolutely do not need this cushion as I can find work in a day (I am not joking)... so I need to get that money working for me too. I don't think my emergency fund needs to be higher than about $5k given the work situation right now.
The goal is to keep increasing net worth by ideally $100k a year. And to switch these projections to CHF, so a very reach goal - this will take a while - is to save $10k CHF a month. My three possible paths to get there are:
1. Better investing - consider buying a property/real estate funds, make sure all my money goes into index funds now, possibly other investing such as personal lending.
2. Find a full-time job in public health - UN agency, consultancy, or university
3. (back-up) learn German, then work as a doctor
But honestly, this blog should be more about my career goals than financial goals. Because although money is important, it distracts from the real goals of life - to lead a meaningful, full life where you have a great deal of positive impact on your family and through your work. I hope to get there a lot more than I hope to have money, which is really just an enabling factor. I think I lost track of this a bit in the last decade (being in serious debt does that to you!) but I am getting perspective back, and I think that is very healthy.
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