It seems to make sense to kick off with an initial net worth figure! Bear in mind the currency is NZD.

I’m going to endeavour to make it so that monthly net worth updates are in addition to the fortnightly post schedule, otherwise it’s going to be a pretty boring blog with half the posts being net worth posts! In future posts I’ll probably include income and expenses as well, but to start with setting a base net worth amount seems sufficient.

A few notes about how this net worth post may differ to others you read around the interwebs:

  • It will refer to the NZ retirement scheme KiwiSaver, no 401ks here!
  • Because the objective is retiring to the Philippines, the value of the house we currently live in is counted as part of our net worth as we expect we will sell it before moving there. Not something I would advise including in your net worth if you’re planning to retire “in situ”, but for us it works well!
  • Because of the above, our current “investment property”, which is actually in the Philippines, is not included in our net worth because we expect to be living there and therefore it will not be generating any income and isn’t really an asset as such. We own that one freehold so there is no debt against it to include either.
KiwiSaver – Mr R2A$16,086.52
KiwiSaver – Mrs R2A$9,400.06
Our House (equity post-mortgage)$69,980.82
Index Funds$1,746.37
P2P Lending$69.69
Bonus Bonds$20
TOTAL$97,303.46

Further boring notes to the net worth if you want all the gory details:

  • KiwiSaver – Mrs R2A is currently on maternity leave, which in addition to earning less money to start with means her KS balance is looking a bit forlorn. We intend to ensure we contribute enough by the end of June to ensure we get the full tax credit from the government.
  • Index Funds – Invested through Sharesies in a mixture of bonds and shares. Another thing we plan to start growing once Mrs R2A is getting pay checks again.
  • P2P Lending – We are winding this up for reasons I will explain in a future post.
  • Bonus Bonds – We deliberately hold $20 in Bonus Bonds for reasons I will also make clear in a future post.
  • Debt – Other than our mortgage, we currently have no debt. Our past debts and how we dealt with them is something I can probably dive into in yet another future post (the thing with starting one of these blogs is you have to promise to talk about a lot of stuff in the future it seems). I will say we got rid of them all before we even knew financial independence was a thing. Perhaps we have a degree of natural frugality.

Any questions or anything you think I’ve missed or should unpack more, please let me know!

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