I’ve been quarantined on campus for 3 months but damn if my spreadsheet doesn’t look fantastic.
Does anybody know what is happening with the markets? ¯\_(ツ)_/¯
Spendings Report: $372
Was 1/3 of my spendings this month bubble tea and KFC? Yeah. My crippling tapioca addiction is the only thing standing between me and millionaire status by age 30.
Hm, it would be more accurate to say I spent about $420 this month. The additional $50 is from the school’s monthly meal/snack stipend. While it’s not actually my money, if I did not have the stipend I would have spent an equivalent amount extra because I would need that food one way or another. I’m not including it for now for no real reason other than I haven’t included it before so I’m keeping it consistent.
Net Worth Update: $90,009
That’s actually the number the spreadsheet gave me, no joke.
I have surpassed my original goal of $90k for this school year 🙂
My stretch goal is to reach $100k by the end of August, which seems very likely with my current trajectory barring anymore drops in the stock markets or a surprise tax reassessment.
Miscellaneous thoughts and changes
I definitely fell into the trap of trying to time the market and waited to see if stock prices would keep on falling. Then the markets went further up so that’s definitely a lesson I’ve learnt, just follow the original monthly schedule and don’t overthink it. April shares have been bought and I’m living life as usual.
I have decided to increase my emergency fund from $12k to $20-24k. The cost of living if I were to return to Toronto are now higher than before and I’m looking into buying long-term illness/disability insurance so that will be an extra cost. Seeing the financial and economic impacts of Covid-19 has made me want to err on the safer side of emergency funds.
My portfolio will surpass six digits for sure by the end of this year so I’m going to also start the process of looking for reputable financial advisors. Did not think I would be here at this point.
2020 taxes have been filed and once I know for sure how much taxes I owe I will either put more into investments or finally move all that cash into my high-interest savings account instead of my checking account. This should happen by the time May ends.
Will spend some time in May doing some financial chores and get that aspect of my life cleared up.