Networth

Networth Update – 09/2019 (September)

In September we have some news! Remember i told your about an apartment we had for sale ?

Rental property (Short update)

Well, we accepted the 305k offer and signed the preliminary agreement. In Portugal they call this CPCV (Contrato promessa compra e venda) which is a contract between the buyer and the seller on which the buyer signalizes intention to close the deal in the next 60 days. In case the deal doesn’t come true the buyer loses the money and in case i wouldn’t like to sell anymore (or whatever reason) i would have to reimburse the buyer in double.

The apartment has been sitting empty for the past 5 months and it was just a money drain, so now we fell much better all will be solved! To be honest i didn’t expect it took so long to sell due to the prime location, maximum 3 months… But i guess the market is slowing down?

Summary:

Now, lets drill the numbers! The progress is not so great this month due to a trip i had to do for work (~1.5k). Usually i’m able to get the money from the company and i don’t have to advance our own money. In this case since the trip was booked with some time in advance, well…its just how it is. Values will be settled with next months pay. Our Networth value for September is 386 443.13€ (+1 037.56)

Hightights of September:

  • Advancement on the rental property – 40k – of which we used ~10k to pay half of the mediation fee. We will be paying the other 10k once we sign the contract. This anyhow means i’ve taken ~30k from the apartments value to not inflate our Networths value.
  • Finally i was able to move my pension fund to my current employers fund. For the past 5 years i’ve known nothing about this value. Zero transparency. I’m now able to see how this value is progressing.
  • Cash that was in another broker was finally brought together in Degiro and almost all invested today!
  • Not so usual expense. Had a 4 day trip for work to Germany which was booked last month. This means i will be reimbursed on next pays (~1.5k). Otherwise our Networth would be bigger this month!

Assets:

Investment accounts

  • ETFs Portfolio: 22 725.41 € (+354.27)
  • Retirement Accounts (aka PPR): 13 501.95 € (+700.66)
  • Certificates Deposit + Emergency Fund: 38 699.90 € (+29 870.70)
  • P2P Portfolio: 10 385.47 € (+104.52)
  • Total Investment accounts: 85 312.73 € (+31 030.15)

Real Estate (Based on Market Values)

  • Primary Residency: 300 000 €
  • Rental property: 254 378.75 € – removed the signal 30k here (– 30 621.25)
  • Farms: 70 000 €
  • Total Real Estate: 655 000€ (-30 621.25)

Cars

  • Mr.Firecracker Car: 20 000 €
  • Mrs.Firecracker Car: 18 000 €
  • Scooter: 1 500 €
  • Total Cars: 39 500€

Total Assets: 749 191.48 € (+408.90)

Liabilities:

  • Primary Residency: 194 296.35 € (-333.91)
  • Rental property + Farm: 168 452.00 € – Both are comprised on the same loan (-294.75)

Total Liabilities: 362 748.35 € (-628.66)

Our Networth drilldown looks like this:

Firecrackers Networth

You can follow our Networth status always here

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