My current net worth is €251,467.24 (37.53% of my first goal – €670K).

august net worth

Errr… “why am I growing my net worth so slowly?” is the type of thought that floats around my head most of the time, when it comes to money. Although my company is doing relatively well, I planned to hit a net worth of about 300,000€ this year. Not sure I will able to (even though I will be withdrawing about 30,000€ in dividends from my company next month).

This month, my lower increase has to do with the fact I had to pay my IRS from 2016.

There is an elephant in the room that I must address. Although I feel comfortable with my current lifestyle (not my health – that comes below), I feel that my net worth should be increasing much faster. I see people becoming rich all around me, and sometimes I feel my own wealth should increase faster. Being anxious doesn’t help health or success, so I will try to work on this very hard, and learn to live calmly and stress-free. Enjoying life should be a top priority.

As for my lifestyle, I am living alone in a renovated rental and I drive a nice car. I’ve got plenty of time to rest and do my own things, as my job only requires my presence every now and then. Yet, my job is still causing me stress, because whenever I need to go to my employer I need to drive 300km and leave my home (and comfort zone) altogether.

As for my health, I am still struggling with permanent dizziness and that is why I haven’t been posting as regularly as before. It has been 8 months feeling dizzy now, and I hope this changes soon. I made some progress, but I am still not:

  1. Meditating for 15-30 minutes every single day.
  2. Going to bed between 10pm and 10.30pm.

Until the end of the year, I will:

  1. look into diversifying my investments to land.
  2. Be a silent partner in a bigger Real Estate company.
  3. Finish the renovation of Rental property #3, and start a line of credit based on it. 

Rental income

I am living in RP#1, as I said before. This property is listed for sale at the same time and I may actually receive offers soon, according to the broker. If I do sell, I will try to strike a deal for a 1-year leasing contract and stay here until the end of the year, while looking for another primary property and investing the capital somewhere else. The plan is pretty much the same: I will put €35k to work and throw €10k into P2P lending / the stock market, as I said before.

The rental income in August was €1,055. This was due to one my leasings, which exempts the tenants from the rent in August, as they are students. In September, I will cash in €1,270. Until December, the rental income will increase by 540€, as I secured a lease on the 3 units of RP#3, after I renovate it. Sadly, I could not start the renovation of the property yet, due to legal issues, but it will start next month for sure. This will increase the rental income to €1,810/mo. As I said last month, the garage of RP#4, which I bought last month, is rented for €190/mo, thus increasing the total rental income to €2,000/mo.

This is why I said I was positive I will hit €2,000 until the end of the year. After this year, I will start a 175k line of credit (I will write a post exclusively on this) giving RP#3 as collateral. This will enable me to increase my rental income to €3,000/mo, at least.

Online income

My online income for August was also bad, as I barely invested anytime online. I will comment on this in the online income report/income diary.

My Real Estate business

My Real Estate business is growing steadily. I still expect to make about €25,000 net with my company until the end of the year. Next year, I will try to make about €100,000.

 

Goals for August

August’s goals were reasonably achieved:

  1. Spend more time in nature and do things I love. DONE.
  2. Optimize supplementation. DONE.
  3. Take one week entirely to write my second book, relax a lot, watch movies. FAIL. Permanent dizziness was the reason though.
  4. Plan the renovation of RP#3 and furniture RP#1 entirely (so I can live there properly). DONE.
  5. Write a lot on the blog. Two posts a week and do not fail. FAIL. Permanent dizziness was the reason though.
  6. Make at least $200 online and write 1 guest post. FAIL. Permanent dizziness was the reason for this too.

Goals for September

  1. Calm the f* down, and enjoy life without thinking about Early Retirement and how to grow my net worth faster.
  2. Take 3 days off to write my second book, relax a lot, watch movies and TV series.
  3. Write at last 4 posts on the blog.
  4. Go to bed before 11pm every day.
  5. Start the nofap protocol (for health reasons, not social phobia or anything like that).
  6. Make at least $200 online and write 1 guest post. 

Enjoy life guys!

Ben