theKimsta_RedCar
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Wednesday, 2 January 2008

Progress Report - 01 Jan 08

Starting Capital on 01 Jan 08

  1. Net Value of Managed Funds: $20,300
  2. Cash Savings: $28,000
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TOTAL $48,300
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Notes:
  1. Managed funds are geared; invests in Australian shares; funds' performance is dependent on share market performance
  2. Net Value of Managed Funds ($20,300) = Market Value ($42,200) + Excess Equity ($8,300) - Debt ($30,200)
  3. Cash investment is currently growing at a rate of 6.40% p.a. with CBA NetBank Saver account; rate is dependent on the RBA Cash Rate, currently 6.75% p.a.
  4. Monthly contribution from salary is expected to be $1,000

Monthly Change:
  1. Managed Funds - Existing: +$20,300
  2. Cash Savings - Existing: +$28,000
  3. Salary Contribution: $0
  4. Internet Revenue: $0
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TOTAL CHANGE +$48,300
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Remaining:

A further $951,700 is required within 120 months in order to reach account size of $1,000,000. An average monthly income of $7,931 is required from this point forward.

2 comments:

KhL said...

Is your goal to have a net worth of $1M or have cash of $1M?

Kimsta said...

The goal is to have $1 million of cash and investments (e.g. shares, managed funds, properties, business, etc).

Non-investment assets won't be included in calculation like the house in which I live and the car that I drive.