Y2018 Net worth update

As I found that this website is 1 year old, I have also noticed another ~1 year old post – Our Net worth. Its so nice to dig into the archives sometimes 🙂 So I thought it would be fun to have a look how situation has changed during the year.

Our liabilities:

  • Mortgage loan – 58,3 kEUR (59,8 kEUR)
  • Student loan – 2,6 kEUR (2,8 kEUR)
  • Consumer loan – zero (0,1 kEUR)
  • Total liabilities – 60,9 kEUR (62,7 kEUR)

We fully repaid our consumer loan, started repaying student loan -0,2 kEUR of and repaid nice chunk of mortgage loan -1,5 kEUR. In total our liabilities have declined by nice -1,8 kEUR 🙂

Our asset:

  • Apartment – 62 kEUR (60,5 kEUR)
  • Investment portfolio – 27,5 kEUR (18,3 kEUR)
    • II pension fund – 9,8 kEUR (6,2 kEUR)
    • III pension fund – 7,0 kEUR (4,9 kEUR)
    • Shares – 10,8 kEUR (7,2 kEUR)
  • Cash – 0,6 kEUR (1,3 kEUR)
  • Total asset – 90,2 kEUR (80,1 kEUR)

Well looky here, our asset value has increase by +10 kEUR from 80 kEUR to 90 kEUR.  Have to say did not expected such a number 🙂 I have looked at our local residential RE market value yearly change and it is up around +3%, so our apartment worth should be something around 62 kEUR. LTV (mortgage loan to pledged apartment value) is 0,94 still far from recommended 0,85, but improved from 0,99 last year. Loan repayments and apartment market value increase does its job nicely. Then we have II and III pension funds, which increased well during the year. Even with market correction we are still at the positive side with +3,6 kEUR and 1,1 kEUR growth. Then the last thing in Shares, which value has climbed from 7,2 kEUR to 10,8 kEUR and as noted earlier reached neat milestone of 10 kEUR in Shares value. Share value has increased by +3,6 kEUR or +50% YoY change. Have to say, growing by +1/2 a year is a good result 🙂 Total investment portfolio has climbed from 18,3 kEUR to 27,5 kEUR or +9,2 kEUR/+49% YoY. Impressive growth. Large share of growth was bought by the market growth but ~1/2 was our contributions 🙂

So to wrap it up our families Net worth is +29,3 kEUR. Increased by +11,9 kEUR from 17,4 kEUR last year… To put things more simple we became 12 kEUR richer in the past one year 🙂 Is that big or small? Well best way to compare is to our 20 kEUR average annual spending. So we now have ~1,5y of our annual spending, meaning that worst case scenario we can sell all of our wealth, cover all of our liabilities and we can live for ~1,5y with same expenses level even with zero income 🙂 I think this makes you feel a bit more safer then in a situation that we were few years ago with underwater mortgage loan and negative Net worth. Still Net worth is not our main goal. Our main goal is to grow our Passive income generated by our Investment portfolio that some day may lead to a situation where our expenses will be fully covered by our passive income reaching what is widely called – Financial independence.

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