Here we go!
Current net worth: $539,000 or $385,000 CHF
Well, a year ago I was at $480k, and now I am at $539k. That is only an increase of $59k. This is kind of what I expected, but that is not as high as I wanted. At least over the next year I expect this to increase quite a bit (more below).
I managed to re-negotiate my contract with my current employer to increase my income from $450/day to $789/day. That has been built mainly on my longstanding very good relationship with my boss (over a decade of knowing him and working with him). I'm really thankful for that.
I managed to re-negotiate my contract with my current employer to increase my income from $450/day to $789/day. That has been built mainly on my longstanding very good relationship with my boss (over a decade of knowing him and working with him). I'm really thankful for that.
Upcoming expenses till 1 July 2021:
Monthly living expenses will go down. from $3350/month in Bern to $2443 x 9 months = $21987
We are moving to Nigeria for two years for my husband's work! Daycare expenses are going down, but rent and other house staff costs go up.
We are moving to Nigeria for two years for my husband's work! Daycare expenses are going down, but rent and other house staff costs go up.
Daycare $800/month
Nanny $250/month
Cook $250/month
Driver $250/month
Subtotal = $1550/month
My half of the above = $775/month
Food and others yet unknown, budgeting $500/month
Rent (my half)- $928
Health insurance (my half) - $240
Trip to Canada (to see grandparents): $3000
Two trips to Switzerland (to see grandparents): $6000
Total: $30987
Trip to Canada (to see grandparents): $3000
Two trips to Switzerland (to see grandparents): $6000
Total: $30987
Upcoming income (till 1 July 2021):
Job 1: $90000 About $10k/month working 3-4 days a week.
Job 2: $10000 Gotta keep my license going.
Job 3: $1000 Doing some additional side work here and there.
Other one-time income:
$15000 from proof of tax return - my employer is inexplicably holding back $15k on proof of my final tax return. This is a very strange business model especially since I have already given them proof that I have to pay taxes as per many clear email conversations with the cantonal government. Anyways we managed to scratch this condition out of the new contract.
$50000 from house sale - I am selling the house of my grandmother's that I inherited, and splitting the proceeds with family. It won't be life changing (and I don't expect it to be) but it is substantial. We haven't finalized the split, but I am anticipating to receive after all is said and done about 30% of the value of the house.
Total: $166,000
Total: $166,000
Total increase in NW = $135013 CHF or 195898 CAD
Expected net worth July 1, 2021: around $520,000 CHF or $754,000 home currency
Still doing well overall on my net worth projections. $754k CAD at age 34 is fine with me; hoping to get to $1m CAD, or $1m CHF as a stretch goal ($1.4m CAD) by the time I am 40. And then to ramp this up, through investing and earnings, to $8m over then next 25 years with at least $2-3m in retirement savings (I don't intend to retire early). Come on compound interest!
Money wise, I still do have a big chunk of cash sitting in a bank account right now. This should definitely change. However it's not clear what I can do with this while we are abroad; I will not have residency status anywhere for a few years so I don't think I can open any new investment accounts in Switzerland. I will need to "get on top of this" again and find somewhere to keep this.
The goal is still to keep being able to bank $100k/year CHF. As a consultant abroad with these expenses and no taxes, this might actually be possible. As a person back in Switzerland it will be more difficult, but potentially doable again if I can get back into a good job.
The strategy is the same as last year:
1. Better investing - get on top of this again. How do I do this while not in Switzerland?
2. Find a full-time job in public health - UN agency, consultancy, or university
3. (back-up) learn German, then work as a doctor
I have firmly shifted to believing that money is secondary to career. (I guess I always thought that but was stressing over money for a long time). Actually - scratch that. Money and career are secondary to balanced, principled living. That is the focus. This, and growth, and family.
Money wise, I still do have a big chunk of cash sitting in a bank account right now. This should definitely change. However it's not clear what I can do with this while we are abroad; I will not have residency status anywhere for a few years so I don't think I can open any new investment accounts in Switzerland. I will need to "get on top of this" again and find somewhere to keep this.
The goal is still to keep being able to bank $100k/year CHF. As a consultant abroad with these expenses and no taxes, this might actually be possible. As a person back in Switzerland it will be more difficult, but potentially doable again if I can get back into a good job.
The strategy is the same as last year:
1. Better investing - get on top of this again. How do I do this while not in Switzerland?
2. Find a full-time job in public health - UN agency, consultancy, or university
3. (back-up) learn German, then work as a doctor
I have firmly shifted to believing that money is secondary to career. (I guess I always thought that but was stressing over money for a long time). Actually - scratch that. Money and career are secondary to balanced, principled living. That is the focus. This, and growth, and family.
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