One step closer towards reaching financial freedom!

financial freedom progress financial chipmunk

It’s time to give you guys an update again on my progress towards reaching financial freedom. This post is all about the progress I made in January! The purpose of this monthly series is to monitor my progress towards reaching financial independence. One baby step at a time… Let’s find out more!

My net worth is now almost EUR 214K!

Another solid increase in January. More than I expected. The reason is… (spoiler!)… We’ve officially sold our house, so I’ve included the sale value (minus broker fees) in our net worth.

What?! You bought a new house?!

I know, what happened to the negative impact of buying a larger home on reaching financial freedom? However, other things in life are important as well… Such as, living closer to family and work.

Nevertheless, I thought about the financial side of things as well. I now switch from an interest rate of 4.3% to about 1.3%. That saves me a lot of money! But more about that in a separate post.

The details

As you can see below, my net worth chart shows a steady increase. Month-on-month around 6%. Not too shabby!

Savings rate of January

As mentioned in my previous post of December, I’ve set myself a target of 27%. It turned out to be a solid 33%! Nice! Completely on track with this one!

Investment portfolios

I have two investment portfolios. One for my kids and one for myself. As you can see, the portfolio of my kids increased steadily.

Looking at my own portfolio, it sky-rocketed! However, don’t expect stock picks from me. It’s all in cash. Even though, Ray Dalio considers ‘cash as trash’, I feel just fine for know.

I don’t do stock market timing, but since I bought a new house, not plunging everything in stocks seems like a sensible thing to do! Better ‘safe’ than sorry.

But if a significant (>15-20%) market correction is coming in the following months, I probably cannot resist buying great companies at a discount.

What to expect in February?

I know, it doesn’t seem fair to make a prediction for February when we are almost in March. However, I don’t keep track of everything on a daily basis so it will be an educated guess.

Excluding charitable givings, my savings rate will probably be around 25%.

To my readers, how was your January! On target?

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4 thoughts on “One step closer towards reaching financial freedom!”

    1. The steady green one is the portfolio of my kids and the blue one is mine πŸ™‚ I will specify that more clearly onwards πŸ˜‰

      Thanks for commenting!

  1. Nice overview and a pretty impressive net worth!

    January was a good month for me and February likely as well. Time goes quick when we’re having fun!

    1. Oops, overlooked your comment. Thanks a lot for your comment. I hope your March-June were even better πŸ™‚

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