Our Financial Independence Journey: Monthly Update #45 (September 2020)

Update 45

Friends,

Better late than never. Here’s the monthly update on our journey towards financial independence.

On the personal side, we have had a busy month. We are now officially living in the suburbs after selling our apartment.

We are living in temporary housing, but we have found a house we would like to buy.

It’s not a house that will make us financially independent faster, but it is a house that has all the compromises needed to live the best possible life for us. It’s not too far away from everything, it’s not too expensive, we can afford to live there on one of our salaries should something happen, it’s close to good daycare for our daughter, it’s close to nature.

My wife is pregnant again and we are expecting our second child in a few months. It’s not like 2020 is boring at the moment despite the coronavirus still being very much active in Demark.

Let’s get to the financials

Our savings rate was at a low point again this month at 15%.

The reason is that there are significant transaction costs of selling an apartment – and we had to prepay our temporary housing. I expect the coming months to be similar or a bit higher. Moving is expensive!

Despite the low savings rate, our net worth continued to climb higher with a monthly growth of 1.5%. Having roughly 1 DKKm invested in shares, we are starting to feel the snowball rolling and the returns in absolute terms are beginning to look interesting 🙂

As you can see, stocks have performed great last month with a monthly growth of 2.7%. That’s visible on my pension too with a monthly growth of 5.9%. When the savings rate is low at the moment, I can’t complain about the market working on our behalf instead.

Thanks for following the journey despite these updates not being as long as they used to! I appreciate it and hopefully, when all the dust settles from moving, we can go back to normal 🙂

Enjoy the rest of October!

Onwards,
Carl

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