Personal life: What happened in July?First of all, we got married and can now call ourselves husband and wife. The wedding was a crazy experience with all of our family and friends around, and we wish that we could do it again!We had some vacation following the wedding to digest all the impressions we had those days, and it was nice to spend time just the two of us together.Being married also means that we will combine our finances (!). This also means that this will be the last monthly update where you only see my side of the financial situation.In the next monthly update, you will see that our combined finances look better than mine in isolation 🙂My wife (still trying to get used to using that term!) and I have also discussed the potential of her becoming more active on this blog. I might do the writing initially, but she might do other things to help out and grow the blog. Exciting times!We are back at work and busy again, but we only have a few months to go until our mini-retirement later this year, so it doesn’t seem like a big deal.
Financials: How am I tracking on my early retirement goal?Last month’s savings rate was a disaster due to the wedding at -75%, but this month’s savings rate is up again. Not nearly to the levels I want it to be, but still good.I got a positive savings rate of 30% this month (significantly up from last month’s -75% savings rate).Normally, I would like it to be above 50%, but our vacation and a few, final wedding expenses didn’t make that possible.MoneyMow savings rate over time (%)
My take-home income was 34,531 DKK (5,755 USD) and I managed to spend 24,023 DKK (4,004 USD) resulting in the 30% savings rate excluding income from the blog.My 12-month rolling average savings rate is at 37% .My net worth increased this month and investments were good.My total assets including pension of 478,684 DKK (78,994 USD) is an increase of 4.1% compared to last month’s net worth.This means that I am now 10.6% of the way towards my early retirement goal of a net worth of approximately 4,500,000 DKK (750,000 USD) up from 10.2% last month.Investments were really good this month except for cryptocurrencies that just keep decreasing – they are getting close to what I initially invested, but if there’s something I’ve learned, it is just to hold on to your investments.I decided to invest an additional 10,000 DKK (1,666 USD) in peer-to-peer lending, which explains the shift from cash to that asset.Stock indexes increased with 3.2% this month which is very decent. Is a crisis coming soon?Peer-to-peer lending grew with 1.0% – I have 12% in returns before taxes, and I love how predictable that return is for now.Pension increased 2.4% this month following the stock indexes.Cryptocurrencies decreased once again with -14.3%, and it seems like the trend is continuing.
Blogging: How did income and key metrics develop on MoneyMow?MoneyMow has had the best month so far. Growth has been good and the income was decent as well.My income on the blog for July was:
- Affiliate programs: 1,981 DKK (330 USD)
- Sponsored posts: 485 DKK (81 USD)
- AdSense: 52 DKK (9 USD)
- Visitors: Number of visitors were 4,248 and grew with 28% compared to last month
- Page views: Page views just crossed the 10,000 mark and grew with 19% last month (woohoo!)
- Facebook likes: Facebook likes are at 2,238 up from 2,080 last month
- Twitter followers: Twitter followers are at 878 compared to 852 last month
- Newsletter growth: The number of people following my newsletter continued rising this month with 7% reaching 151 subscribers
Favorite posts of the monthIt was hard to choose between many good posts this month, but my favorite were:
- Steve at ThinkSaveRetire.com is easily one of my favorite bloggers, and he wrote a super post on the things that early retirement won’t fix. I believe we can sometimes glorify financial independence and early retirement and forget that life continues, bad habits don’t disappear and you still need to do chores in FI.
- Retire In Progress (RIP) wrote an interesting post about the index investing economy. He argues that if everybody invests passively, there’s no investors to move the market anymore. It is a thought-provoking article, but I’m still not fully convinced that in 5-10 years passive investing will be considered dumb money.
- Becoming Minimalist wrote a great post on focusing on the reason why you can – and not why you can’t. I believe there’s some very wise, motivational words in there.