Today is 19 March 2022
It has been quite a while; and the major happening is Russia has invaded Ukraine:(
Time for an update on the kids' Net Worth and Passive Income.
My 3 children's passive income is as follows:
DS1 DD DS2
Age 25 22 20
Passive income 8304 5932 3961
(rolling annual)
Net worth 178033 76566 62411
Rate of return 4.6% 7.7% 6.3%
Remarks:
DS1: Fantastic surge of Net worth...still living at home , driving his used car and high savings rate...still on track to hit millionaire status by 30:)
Howver at this point in time, with 3 more months to go, i do not think he is going to hit his target of 10K Passive Income by June (unless he throws in 10K per month into equity investment). But he can always aim for it and try to hit at least 9K:)
His low equity and super investments (59% of net worth) and corresponding high cash position explains his low rate of return .
DD2: Penultimate year of Uni and has not much time (or inclination) to do much part time work...her savings are 93% invested though in equities and super and that accounts for her high rate of return compared to her brother.
DS2: He is plodding along with his part time tutor work ( 4 students atm)..income not high but living on the smell of an oily rag...lowish expenses too:)
He is 78% invested in equity and super and that is reflected in his rate of return .
ONWARDS AND FORWARDS!
Today is 7 July 2022
It has been a long while since last update ..since then the stock market has been on a long slide down about 20%..and inflation is roaring around the world..
Meanwhile the kids are still plodding along..increasing their net worth..they have not been investing (except through their superannuation ) and waiting patiently to re-enter the market ...
My 3 children's passive income is as follows:
DS1 DD DS2
Age 25 22 20
Passive income 9083 5184 3408
(rolling annual)
Net worth 182415 76360 62749
Rate of return 4.9% 6.8% 5.4%
Remarks:
The children's net worth has not improved by much in spite of earnings due mainly to a slide of their equity portfolio and superannuation.
DS1 continues to hit a high savings rate and is sitting on a big pile of cash ($63839). He is still aiming to hit first milestone of $10K in passive income which is eluding him in this market:(
Still not bad for someone his age who graduated with a net worth of $300 ..and hardly worked but played hard all throughout uni! (so there's hope yet for all the parents reading this!)...he should still be on track to hit $1 mil by age 30...
DD 2's cash position continues to slide due to reduction in work hours and increase in social eating out and spending (Lol!)...she is leaving for London for an internship for 3 months and will spend it big touring Europe after...she has taken a loan ($7K) from the uni/govt which will be added to her HECS ..at this stage, quite unlikely to hit her $100K net worth on graduation ...
She has kinda convinced herself she needs to "front" spend/travel now as she will have low chances of doing that in future (young doctor)...(i keep my mouth zipped with her decisions !)
DS 2 continues to plod along; with high savings rate and part time work ; this is the child i foresee will hit a $100K net worth on graduation...he continues to surprise his Dad and I with his consistency.
Onwards and forwards!
