Networth Update – 09/2020 (September)

Welcome to the September Networth update! We bought a house! And we are getting closer to FI!

Awesome view from the balcony ! My phone did most of the work here.

The news are quite fresh, we signed the deal last week and the adventure is just starting. We now have the whole remodeling to do 🙂

This month we took 2 weeks vacation and came again to the beach house, i’m doing an online course and horse riding everyday while Mrs. Firecracker is lecturing remotely. Oh and we also try to enjoy our vacations ahah. Another great opportunity to grill some nice food.

Sorry Vegan friends.

We also had Mrs. Firecracker birthday this month and i’ve had some surprises lined up . Mostly we are trying to hangout with friends in open spaces still minding the COVID situation and we did some splurging in eating out. We had to celebrate the contract signing right?

Our goals for 2020 seem to be very well on track, our savings rate is at ~37% (objective was 30%), our networth is at 449k (optimistic objective was 435k) and company revenue of 10k (currently at 700 €). The last one seems to be most challenging but i will keep pushing. You can always check our progress here.

September Summary:

1) Minor adjustment on the portfolio.

2) Saved 6% of our income only (213.53€ / 3493.38€). We had a spike in our Eating Out section.

3) New house: Huge networth increase. We have bought the house for 355k + Aquisition taxes (~19k) thus totalling ~375k. We will now be owing the bank 242k + 45k already given for the construction part. According to the bank the house is valued at 414.5k which is the value i will be putting prior to construction. This means +39,5k netwoth increase ! We have now hired the architects to start working on the project.

4) Projects. No update from the projects but i got paid 500 € for a keynote i gave last month.

5) P2P world: Nothing new

Now, coming to our monthly networth…


Our Networth value for September is 449 051.46€ (+37 117.84)


Investment accounts

  • ETFs Portfolio: 28 238.57 € (348.41)
  • Retirement Accounts (aka PPR): 15 457.08 € (4.61)
  • Certificates Deposit + Emergency Fund: 53 560.78 € ( 54 877.59
  • P2P Portfolio: 7 546.99 € ( – )
  • Total Investment accounts: 102 262.13 € ( -55 230.61)

Real Estate (Based on Market Values)

  • Primary Residency: 300 000 €
  • Farms: 70 000 €
  • Rental House: 414.500
  • Total Real Estate: 784 500€


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

Total Assets: 926 262.13 € (+323 769.39)


  • Primary Residency: 190 210.67 € (-348.45)
  • Rental House: 287 000 ( – )

Our Networth drilldown looks like this:

You can follow our Networth status always here

2 thoughts on “Networth Update – 09/2020 (September)

  1. Ricardo Cruz

    Dear Mr. Firecracker
    Congrats to your new home. You have an amazing view. Where and what kind of course are you doing?
    Im just wondering how you are Planing FI if you don’t have enought Cash Flow? In my opinion you could not leave the Workforce you don’t have any investments done?
    Could you maybe explain your plan?
    Ricardo Cruz

    1. Mr Firecracker Post author

      Dear Ricardo,

      Thanks for your comment! I’m doing a business case creation course 🙂 Sure! I can explain. Currently we are looking for value meaning after we hit the value we want, mostly achieved by Real estate (Price of the asset – liabilities/morgage), we have the option to maintain the asset if it generates value >4% net (new house) or to sell it if it doesnt (most likely with our current place). In the case of our principal residency the current apartment the market value is bigger than the rent we could collect from it.

      Example: With our principal residency the max rent we could get from it would be 1k per month or 12k anual. Subtracting the morgage we talk about ~5.5k gross per year. 5.5k / 0.04 = 137.5k. We current owe ~190k which means we need to add 190+137.5 = 327.5k. This would be our market knock-out value. If the market prices our principal residency higher than 327.5k we should consider to sell.

      Here we need to also ponder the availability of a new place to go 🙂 and the timing to do so. Current market conditons price our place at ~350k even with me only considering it at 300k.

      Hope it helps!


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