Hello there! Welcome to the first blog post for the Pregnant Millennial Investor!
Let me start by briefly explaining who I am. If you haven't already guessed it, I am a pregnant millennial woman, who is embarking on her investing journey which will hopefully lead to financial independence in the (not too distant) future.
The reasons I created this blog are:
Current Status
So where am I currently at? Here are some dot points to summarise.
With that said, here is a breakdown of my assets and liabilities. I am approximating some of the values from 2014-2017 as I didn't take records.
Net Worth 2014-Current
So here is my starting point, about $50,000 net worth if you include my HECS debt, or $80,000 excluding it. Definitely not the perfect start and at 25 years old with a baby on the way I would have liked this to be a little higher, but I can't complain. I'm really excited to see this grow and also for the challenge.
What does Financial Independence Look Like for Me?
Just briefly, I will explain what financial independence looks like to me but I want to do a more detailed blog post about this in the future.
When I am financially independent, this is what my life will look like:
The investment figure which I have calculated I need to achieve this lifestyle is around $1,000,000. At a conservative 5% rate of return, I can comfortably live on $50,000 per year (before tax). Plus I will probably still work a few days each week to keep myself occupied and continue building wealth.
You may be wondering, where does my SO come into this? Well, this blog is about independence, so I am going to only include my share of things. For the most part, our finances are separate anyway, and we aren't married. This baby was somewhat unplanned but we are so excited to be having it! We were planning to have one in the next few years anyway. As I was saying our finances are mostly separate and we don't have joint bank accounts or anything, however we will be purchasing a home together after the baby is born. Thus I will be breaking down what my share of that is when the time comes to write about that.