Previous update here.
Hey there! In a strange sense of déjà vu, November seemed to slink by quietly, like a whale migrating south for winter. Mostly I enjoyed the month, formally worked 4-days/week in my new job and scrambled on the other days to complete work for the University then get a little relaxation (no progress on the PhD, actually I’m now behind). I’ve been reading, and amcurrently half way through Burton Malkiel’s A Random Walk Down Wall Street which I’m finding most enjoyable. Oddly enough, it promotes passive index investing, suggesting that between the markets near efficiency and the hindrances of typical investor psychology (and we’re probably all typical) there is no point to actively trying to select equities. It’s a whole other can of worms, and although I think index investing is an excellent long term approach for many investors, I also believe in the long term (10+ years) there are individuals – widely and less widely known – who consistently ‘beat the market’. The trick is, figuring out which category (active or passive) we each fit in to, and the only way to know is to give it a well-researched crack.
Quick Summary: Cash increased after I reimbursed some business expenses and paid myself a wage for the 6-weeks since I started work. It wasn’t a huge sum, but it was a pretty awesome milestone. Super was flat, and on that front I’ve transferred out of my advisor based fund. I’ve written about this a few times, here, here and here and ummed and aahhed about ceasing an advisor based service. Oddly enough, I made the push after speaking with my business accountant then talking with their financial advisor – so I’ve since moved all my retirement fund (less the contributions earned when I was in the air force) to an industry super fund. The portfolio is mostly investing in equities (international and domestic) with a small portion for property and bonds. The annual fees are far lower, and performance over the past 3 years has bettered my advisor based fund.
The only other change was a nice reduction in credit card debt, which once again I aim to keep low. I’m still looking at rentals but have started only making offers below the asking price, and will just see if I can snag a fair deal. Not rushing though. On to the numbers…
Cash: $9,325 increased 21.87%
Superannuation: $34,016 down 0.06%
Investments: $0 (nil holdings)
Other Assets: $11,558 down 1.20%
Total Assets: $54,899 up 2.83%
Credit Cards : ($218) declined 92.20%
Student Loans: ($31,539) steady
Other Liabilities: ($21,999) steady
Total Liabilities: ($53,756) reduced 4.57%
Net Worth: $1,143 increased (INF!)
How was your financial November?
As always, thank you for following along!