Monday 3 April 2023

Net worth: MAR 2023

Chart updated to end of March in sidebar.

Stocks/cash increased $26,214 (17.50%) to $176,047. Mostly due to receiving a $30,000 rebate (discount) on the investment unit purchase price after settlement (this had been negotiated when I paid the deposit on the 'off-the-plan' apartment back in 2019). $95.696 of this figure is cash sitting in my mortgageg offset account (which doesn't earn interest but reduces the loan balance used to calculated the monthly interest charged on my investment property loan).

Retirement savings (SMSF etc) increased by $18,493 (1.26%) to $1,487,291.

Est. of Home valuation (my half) decreased by -$7.774 (-0.73%) to $1,054,562. The real estate market seems to be levelling off, although stabilization of prices and any future increases will depend on how inflation moderates during the remainder of 2023 and into 2024, and therefore the timing and scope of any further RBA increases to the overnight cash rate (which flows on to mortgage interest rates).

Other real estate (my 'lake house' and the investment apartment) increased by $24,604 (1.24%) to $2,083,684 although this figure is a bit 'rubbery' as my estimated of the apartment value is similar to what the agent said recent similar apartment in the tower had sold for, but is much higher than the valuation the bank obtained when approving my mortgage. And the 'lake house' is intended to pass on to my sons eventually, so the valuation isn't really relevant in terms of 'financial assets'.

The initial investment property mortgage remains at $1MM (the loan is 'interest only' for 5 years). Interest rate is currently 5.79%.

Other assets (my online depository bullion account and Perth Mint, and the bullion value of my gold and silver proof coin collection) increased by $3,045 (9.25%) to $35,962.

Overall, NW increased by $65,582 (1.73%) to $3,845,566 during March.

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