September was a great month… Went on an amazing trip to Italy that lasted over three weeks. I never had three weeks off before, it was fantastic. How did my portfolio perform in this exciting month?
Spending and saving rate
In September I saved 58% of my income. As my side business received first payments, I have decided to take out the cash assets of my business and the business expenses, as they were messing up the calculations. I will treat the business as separate from myself.
If I pay myself income, then I will account for it as additional income. This is why I adapted the spending numbers for the year – I took out business expenses. So far I did not pay myself out any income – best avoid this while I am tax resident in Europe – taxes are nuts here.
In September I spent a ton of money, because of the lavish Italy trip. A significant portion of it went to restaurants. Generally I avoid eating out much these days, as I improved my cooking skills and the experience is often not so worth it for all the extra price. This is definitely different in Italy – the cooking is on another level and I am now inspired to work on my skills to replicate some of the food at home.
Overall I spent SGD 6,468 (= USD 4,763) in September. I would have been able to have a very similar experience at 50% of the cost by just booking smarter, staying in cheaper places, taking the bus… I would have been able to do the similar trip on 20% of the cost by using bus promotions and by staying in hostels. I have to sharpen my frugal skills.
Portfolio development
In September my portfolio decreased from SGD 791,550 to SGD 785,474 (USD 578,300). Fresh investments of SGD 8,869 were offset by paper losses of SGD 12,690 and by taking out the cash assets of the company as part of the portfolio.
Asset allocation
All on track.
Dividends received
My holdings paid out SGD 1,010 of tax free dividends.
When can I retire?
I need to stop spending so frivolously.
Outlook
Autumn is coming and I am committed to enjoying my last six months here in Europe while planning my escape from standard corporate life.