April 2021 Update
This is our first monthly blog post, which we plan on publishing once a month after our finances are updated!
I hope you enjoy reading 🙂
Total Net Wealth = $886k
We recently hit $700k outside super (and $882k including super)
It’s been a crazy last 12 months!!! We’re up nearly 30% since this time last year which I wasn’t expecting… and our passive dividend income is looking to be around $25k at the end of the fiscal year
We’re been focusing on topping up on Mrs Moneyplants’ share portfolio over the last 12 months to distribute the income (and save some tax when we decided to have a baby and she goes part-time / time off).
We created our Instagram account which has been quite fun and exciting so far 🙂 @MrMoneyPlant for those on the Instagram 😉 Instagram gets the content first, but it’s quite simple and basic, the blog is where all the detail is! 😀
What’s been really interesting has been the huge shift in income from interest to dividends. With interest rates so low we aren’t getting much from our online saver (house deposit money) but dividends just blow it out of the water…
We’ve earned nearly 1.3 million in our working lives so far (Since 2009), which averages around $50k each per year. You don’t need to be on a crazy high income to start investing.
I think it’s quite exciting to see that NEARLY 10% of all we have ever earnt, has been through passive income. This isn’t shown in this particular dashboard but I’m working on another one that shows the full picture, so hopefully it’ll be ready for ne
Other things of note:
- We’ve been aggressively trying to buy a house in the last 12 months, kicking ourselves we didn’t buy sooner but… fingers crossed as our $200k cash in the bank is doing nothing for us.
- Our jobs have both stabilised unfortunately, so no huge pay rises in the near future unless we jump across, which isn’t on the agenda atm.
- We took our private health insurance in March (just before I hit 30) so this should help reduce tax slightly, more so next year as we are hitting above $180k per year combined now. We managed to secure the cheapest plan that covers us for the medicare levy surcharge and it works out to be roughly the same compared to paying the tax so why not.