Our Financial Independence Journey: Monthly Update #35 (November 2019)

Financial independence update 35


As we are now in December, this will be my last monthly update before we have to look back on the progress in 2019 at the beginning of January.

Can you imagine that 2019 is gone already? I honestly can’t.

Personal life: What happened in November?

November was a more busy month than usual.

Our daughter has been sick twice and that has made life a bit harder than normal. My wife and I have been drained of energy and had less time for some of the things we also enjoy. However, we are getting on the other side now and can see light at the end of the illness tunnel.

In November, I worked a bit more than usual. I still work far less than in consulting, but there has been more on my plate than before. I enjoy what I do at the moment, so I don’t mind it, but combined with a sick daughter some days have been hard.

Less time for fun activities has been good for our budget as you will see on the savings rate.

In other news, I have also accepted my first public speaking event which I will write more about next month.

Financials: How are we tracking on our FI goal?

November was a great month for our savings rate, but our total net worth declined slightly.

We ended up with a savings rate of 55%, which continues the good trend from the last month.

Our combined take-home income was at 64,012 DKK (9,846 USD). We managed to save 35,119 DKK (5,403 USD) resulting in the 55% savings rate.

Our net worth decreased this month despite the good savings rate.

Last month we had record growth, but this month it is slightly down.

The only reason is that the value of our apartment declined more than usual as a new real estate value forecast was made by Bolighed.dk (the site we use to track the value of our apartment).

Our total combined net worth is 2,883,857 DKK (443,670 USD), which is -2.5% lower than last month at 2,957,854 DKK (455,054 USD). 30% of our assets are liquid meaning they can relatively easily be converted to cash.

This month all our assets mostly increased, but the apartment value decreased by roughly 135,000 DKK, which the increase in other assets couldn’t make up for. If we are to cross 3,0 DKK million before the end of 2019, all our assets have to work for us.

Stocks grew by 2,8% in November, which continues the great trend from previous months.

Our real estate net worth decreased by -7,4%.

Bonds remained flat with 0.0% growth. Crowdlending increased by 0.7% which continues to be lower than I have been used to. Lastly, cryptocurrencies declined by -15.1% towards the end of the month.

All our three financial independence goals increased this month due to more liquid assets:

  1. Three years’ expenses in savings: 60.4% (up from 57.7% last month)
  2. Optimistic FI goal: 40.3% (down from 39.6%)
  3. Traditional FI goal: 10.3% (up from 10.2%)

Blogging: How did key metrics develop on MoneyMow?

MoneyMow declined slightly in November – mostly due to one crazy good day in October. Otherwise, things were quite flat.

The metrics last month were:

  • Visitors: Number of visitors was 9,233, and decreased by -19% compared to last month
  • Page views: Page views were 13,367 and decreased by -25% compared to last month

Even though it’s not going up, I believe it’s still incredible that nearly ten thousand people want to read my posts every month. THANK YOU!

Favorite posts of the month

My favorite posts of the month were:

  • Route2FI wrote a post about updating his FI plan reducing his time to retirement. He proves a point I love; your FI number and your FI journey is dynamic and should often be updated as you get wiser towards FI. Despite not using it towards his goal, he also makes the point that the 4%-rule most likely is too conservative which I believe too.
  • A Way to Less writes about how the FIRE movement is often misunderstood in the media. I can relate to this when I tell people about FI where I often meet skepticism, but they have good answers to those points.
  • Gentleman’s Family Finances makes an important point about taxes’ impact on FI that I have considered too. Taxes are often ignored in FI posts – and the changes that could come could affect the journey.

That’s it for November.

Enjoy the last month of the year 🙂


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