Friday, 31 July 2015

July 2015 in review

Millionaire by 2020 2019 Plan – July 2015 Update
Millionaire by 2020 2019 Plan – July 2015 Update

July was a low spending month for the MoH, similar to last July.  Officially, there was no expenditure from the goals bucket.  However, there should have been, as I took the opportunity to book flights for my training course in the US later this year.  But for some reason, Qantas hasn’t charged me yet.  I will need to look into it if a charge doesn’t appear soon.  I don’t want to be at the airport checking in only to find out I don’t have a ticket!

Shares were worryingly down again – my equity is now 19% lower than its February high.  My super balance rose a fair bit due to the inclusion of my June quarter contributions.  I contributed the full $30k allowed at concessional tax rates this year for the first time ever … I’m pretty proud of myself.  I have to say it’s a lot easier paying it yourself than when working for a large company, where umpteen forms and the like are required.  My cash balance also rose a bit.

In the end, the Millionaire by 2020 2019 plan tracker recovered to 43.5%, compared to the target of 27.2%.  This was a 0.9% increase from June, just under my target growth rate.

With the continued decline in the share market, I’m not seeing the growth in the tracker I need to achieve my aggressive forecast.  I’m starting to get a bit worried I won’t meet the aggressive target this year.  I’ve worked on a new budget for the new financial year, and it still seems possible, but only if there is a turnaround in the market soon.

August means tax time for the MoH, so I will need to get out the shoebox and starting downloading all the bits and pieces I need.  This is going to be a complicated year, as I have lots of payment summaries, plus capital gains and losses, as well as the usual myriad expenses to deduct.

Please stay in touch.



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