Our Financial Independence Journey: Monthly Update #49 (January 2021)

Update 49

Hi everyone

I hope you have had a great start to the year! I know we have been busy with the new house and new baby. The only thing that has remained the same is the COVID-19 situation with a lockdown pretty much restricting our whereabouts to our new house and garden.

Once again, this is a fast version of the monthly update. We still have massive expenses with renovating the house, thus the savings rate is low or non-existent and will continue like that for a few months to come.

The January financials

Despite saving up some money for the renovation, we managed to get a savings rate of 25% in January (mostly driven by paying down the principal on our real estate loan), which I believe is decent.

Our net worth increased by an impressive 3.4% in January to 3.909 DKKm (0.601 USDm). We are now 88% of the way to having three years’ expenses in liquid assets and 54% towards our optimistic FI goal (15% towards the traditional FI goal).

The increases in net worth were primarily driven by stocks, pensions, real estate, and cryptocurrencies that increased a whopping 90%. I am strongly considering moving out of cryptocurrencies before another 80% drop occurs.

That was the January update. I hope we can continue the good development and hopefully cross the 4 DKKm (0.65 USDm) soon!

I hope you are all doing well – thanks for reading!

Onwards,
Carl

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