I AM Building Wealth

25/08/2023

I haven't been posting each month on my goals but have been tallying them up as the year has progressed. Only had the time to breathe and enjoy this process over the last few weeks so thought I would post an update.

Super investment goal was cut short in May as I quit my job and had the last 3 months to top up the Emergency/FU fund and the final bit for the Travel Fund. I gave work 11 weeks' notice as I needed to have it official so that I could cope until July.

Adventures for the last few months - I have counted 'quitting my job' as one.
Another adventure was selling my aunt's house. The whole process with Centrelink, paperwork, and her finances was really interesting (FIS are excellent to discuss the pension and entitlements - Another post on that I reckon). The clearing of the house, that she was in for 45 years, and selling of furniture was not fun. 😀
A ghost tour at The Rocks was a fun adventure as I enjoy doing 'touristy' stuff in my hometown. You get to see places you have seen all your life in a different light.

Up until the 14/7, the year had been really stressful. Now I am taking life really slow and enjoying quiet days with Yoga, walking, and preparing for Europe. It will ramp up next month with our Europe trip but I have made sure there are lots of days of 'just being in the moment' in Greece. I am going to savour this trip.

Hope your year is moving along well and with time to yourself. x

22/08/2023

A bit late in posting but wanted to post this so it is on my grid for future reference.

1st half of the year and up by $80k. Not much to say as we are in the boring middle.

As a 54 & 55 year old and only 6 years to go, I have been reviewing the compounding effect and the 'sweet spot' where the interest earnt is more than the money invested. It seems to be 13 years on the investing/compounding calculators. I may have to review how I look at our overall goal as I really can't see how we will be anywhere near 100% to FIRE in 6 years and so the percentage alone doesn't serve me.

Perhaps we will have two goals that are linked to when I wish to retire and what passive income needs to be generated AND when we both are retired. Something to calculate whilst I am off work and traveling 😉

02/03/2023

Quantifiable Goals for this year are locked in. 💪😃
As HABITS are my main focus for my growth, I have reduced my actual goals just down to money goals.
* The first 2 (invest and travel fund) are my personal goals that I really need to focus on and are paid out of my income. ✈️👵
* Adventures are a push for me to ensure that I book something every month as a self care thing. Saying YES more often!
* Top up EF and paying down loans are a combined goal with my husband as these will be paid by our shared family accounts. Loans are P&I so are mandatory, however the EF topup will be a challenge as this is whenever I can find savings from weekly or monthly expenses or even if I can save on premiums for insurance etc. The difference will go to the Emergency Fund.
Wishing us all good luck (aka focus 😉) to make 2023 a success.
❤️

12/02/2023

Downsizing in retirement. Love these ideas. .

05/02/2023

16/07/2022

Great month and a nice half-year ending. I have been thinking of my 2022 word 'Grounded' and thinking if it still stands as MY WORD... I may change this for the second half of the month. Still thinking...

We had a 4 day holiday playing tourists in Sydney. We stayed at the Shangri-La and watched Vivid Lightshows. We tried all the public transport options and walked all over the city. It was a lovely adventure and it felt amazing to wake up to views of the Opera House and lazy long breakfasts on the 36th floor watching the sunrise. 100% Bliss.

My Health/Life coach sessions are going well and I am feeling more in touch with what I truly want. The magic of growing and learning really does come from 1:1 interaction with someone who has been there and KNOWs.. you know???

Have been working with another team at work which has been taking a lot of my time. I am determined that they do not get my brain power for nothing. Watch this space!

16/07/2022

I have been intentional with investing and at present the dollars don't look like they have moved, however I know I have increased the 'units/shares' AND that will mean more dividends/passive income.
I have left our properties valued as they were in 2021 so our NetWorth has stayed pretty much the same. Since we have no traveling coming up we have managed to save a couple of thousand to update our dining area. Loving the new table, chairs & rug. I would still rather spend on adventures and visiting family overseas but for now it is all at a standstill as our youngest is in Year 10 so I reckon we are staying put for another 2.5 years. I dislike being regimented to going in school holidays and 2 weeks is never ever enough! I will wait and then go for a season!
Head over to my blog -- iambuildingwealth.com for more details on the last quarter's expenses and investing breakdowns.
Happy half year everyone 😃

15/07/2022

Re-hired my health coach! I like to think of Rose as a Life coach. She is amazing and its like discovering a new place SO I am registering this under 'Discover new places or new activities'. I really believe that there are so many talented people out there that live and breathe their passion. To be able to tap into that energy and join a tribe of like minded people is worth the investment.
I see so many similarities between health and wealth. So much of what is worked through is self care. Both can give such inner peace if done right. I invested in the program in 2020 and felt so much happiness. I have a 'splurge' account and this is a perfect activity to spend on self care!

Investing is on track and I am ahead on my reading which I am pleased with. Will start moving some of the fiction books up the list now as I think I have ready enough 'fun' books for awhile.

14/07/2022

Promised myself I would update my goals every month. I think for April I just read a lot of books. Pure escapism.

Can't remember much else 😀😮

One thing that I did find interesting during the month. Canna from SugarMamma.TV mentioned in one of her podcast episodes something that really resonated. Do something every day towards your goal. Even $10 to a goal or read 10 pages, do something every day. I liked that! I tried to do this most days and was able to move a bit of money to my Investment account in prep to buy more shares and read every day. Very much like the saying that always says "little by little, a little becomes alot" ❤

19/06/2022

Dividends VS Share prices - did you know there is a difference?
I was chatting with a dear friend yesterday and was discussing my desire to buy as many shares as possible at the moment and the conversation lead to how shares are so volatile. I mentioned that dividends don't really get affected and that passive income still comes around via the dividend payments. THIS was not how she thought of it and once I explained how I understand it with examples she got a different appreciation of the share market. I then discussed it with my partner and he too didn't realise the seperation. Now in 2022 I think its only natural for people to know this BUT I do have to remember that in 2020 I too didn't realise this and was VERY wary of the stock market. I have learned heaps and didn't realise it until yesterday. So for curiosity AND to share with my dear friend Travel Agent Finder I will give some examples and my interpretation of 'all things shares"
Disclaimer: these are my thoughts and may not be 100% correct. Post is for entertainment only. 😀

23/04/2022

I closed my eyes most of this quarter as the share markets were a dippy ride! I have just kept investing and also working on WHAT should be our passive income and to put that as my focus than the networth of our shares/properties.

We are basically in the same position as December 2021. I am still working on the rough numbers for potential income. This is assuming we keep our home and pay off our PPoR (so rent/mortgage free). The Investment property would still have a loan so would have to use some of the rent to pay off the loan (interest only for a while?). I am still playing with this as I think the passive income goal of $120,000 pa might be too much, considering in this table we own our home.

Not too much to report other than the update for the moment. Next quarter I am hoping for some big moves in the numbers. Can’t explain yet but if you can pray for me.. OR put some good vibes out there for me.. You are going to love the story when I can share it. Until it works out, it’s too painful to discuss yet. Stay tuned and wish me good things this quarter. Hoping it’s DONE by end of June 2022!

Check out the latest Networth blog update:
https://iambuildingwealth.com/networth-quarterly-update-march-2022/

22/04/2022

March goals recap! Investments are better than planned due to a decrease in our IP interest rate. Super contributions are a little behind but it will work out! Loved my activity this month. Went to as many French Films that I could at the French Film Festival. I absolutely love foreign movies and when they do the film festivals, they bring such great movies to the screen & with having to watch & read the subtitles I get totally absorbed and have nothing else on my mind for 2 hours! Bliss. Books are on track. I have alot of books on the 'waiting list' at the library. It's part of being intentional with my splurge spending and also having patience. Being 'grounded' (this year's word) and slowing down my pace is important to me so books are spaced out. I did get to read Noel Whittaker's 'Retirement Made Simple'. Very detailed and surprisingly up to date. So many hours go into research and learning to build my knowledge. I feel blessed that I have the time and the desire for FutureMe!