Friends,I’m terribly late with my monthly update for August, I know – the days of September have skyrocketed by and at the blink of an eye, we are nearly two weeks in.Let’s get down to the details of August!
Personal life: What happened in August?I am back at work and have been busy with lots of traveling. That also explains why I am late with the update this month.I am really motivated at work at the moment and I am doing fun stuff, however, I can’t help but feel that there are other fun things in life that I would also want to do more of. Busy periods definitely fuel my desire to reach financial independence.In August, I woke up to an e-mail that made my heart pound. A journalist from one of the largest Norwegian newspapers (the business newspaper) had contacted me about an interview about FIRE.Since I blog under a pseudonym a lot of questions currently came to mind. Am I ready to tell the world about this blog? Am I ready to confront family, friends, colleagues and clients with my take on life and FIRE in general?My first thought was that it probably was time to become more official as I do not have anything to hide for friends, family or colleagues (given I will still be working in retirement). However, in the end, I decided to participate anonymously – mostly given my current client relations who probably wouldn’t understand and I didn’t want to put those at risk for now.Apart from that my wife and I have very busy weekends leading up to our mini-retirement later this year. I’m looking so much forward to just pulling the plug for a little while and only do exactly what we want to do every day.
Financials: How am I tracking on my early retirement goal?Last month I promised you to have a brand new financials section ready with my wife’s and my combined finances, however, we just simply couldn’t make it in time for this post (there’s some legal stuff to consider which I won’t bore you with). For next month, I expect to have a whole new financials section ready!I got a positive savings rate of 35% this month (up from last month’s 30% savings rate).I am still targeting a savings rate above 50%, but we somehow just have more expenses at the moment with the wedding in previous months and our mini-retirement coming up later this year (with payments starting to come in).MoneyMow savings rate over time (%)
My take-home income was 34,531 DKK (5,755 USD) and I managed to spend 22,410 DKK (3,735 USD) resulting in the 35% savings rate excluding income from the blog.My 12-month rolling average savings rate is still at 37% this month.My net worth increased a good deal this month with fine investment returns.My total assets including pension of 493,781 DKK (81,502 USD) is an increase of 3.2% compared to last month’s net worth.This means that I am now 11.0% of the way towards my early retirement goal of a net worth of approximately 4,500,000 DKK (750,000 USD) up from 10.6% last month.Investments were good this month except for cryptocurrencies that fell off another cliff below what I originally invested. If I had sold at the top, I would have had 14,000 USD more in net worth today!Stock indexes increased with 0.6% which I guess is a fine month.Peer-to-peer lending grew with 1.0% – I have 12% in returns before taxes, however, I am starting to experience that Mintos cannot keep my investments fully invested at +10% loans anymore.Pension increased 2.4% this month, which was much better than the market in general.Cryptocurrencies decreased again with -28.9%. This is the fourth month in a row with double-digit decreases.
Blogging: How did income and key metrics develop on MoneyMow?MoneyMow has once again had the best month in its history. The growth was good, and so was the income.My income on the blog for August was:
- Affiliate programs: 351 DKK (59 USD)
- Sponsored posts: 2,262 DKK (377 USD)
- AdSense: 112 DKK (19 USD)
- Visitors: Number of visitors were 4,303 and grew with 1% compared to last month
- Page views: Page views were 11,154 and grew with 11% compared to last month
- Facebook likes: Facebook likes are at 2,468 up from 2,238 last month
- Twitter followers: Twitter followers are at 896 compared to 878 last month
- Newsletter growth: The number of people following my newsletter continued rising this month with 17% reaching 176 subscribers
Favorite posts of the monthIt was hard to choose between many good posts this month, but my favorite were:
- Steveark wrote a great post on why he works even though he doesn’t need the money. I have a lot of the same thoughts at the moment, and I too believe that I will work after reaching financial independence
- Bitches Get Riches wrote a fun article on weddings and wedding gifts in particular. Having recently been married, I can recognize many of the considerations Kitty has, although I must say I enjoyed many of the gifts we got, I fully agree with many of her points!
- Fritz at The Retirement Manifesto wrote a great post on his first 60 days of retirement. I always love reading about people who have actually retired and their experiences – and this post is captures expectations and surprises really well.