July has been a difficult month. I have spent my time working, sleeping, and working at home after hours & on weekends. The workload is just crazy and exacerbated by dealing with covid lockdowns, being very short-staffed ( I am covering 4 positions) and the area I cover was just increased with more staff to manage. Added to that is preparations for restructuring so lots of meetings & reports.
I am very tired and life has been too far out of balance.
So I'm very glad that it's August - the start of a new month! I am going to work at getting some more balance back in my life and I only have a few more months left of this workload.
Heres the current numbers:
Mortgage:
- current balance: $47,650
- down from: $49,111
- total reduction: $1,461
Superannuation:
- current balance: $665,116
- up from: $649,758
- total increase: $15,356
I've been saving this month to pay the financial planner and also I have some big annual bills to pay so my mortgage payoff has slowed down and next month will likely be the same.
We reached our 2021 savings target a few weeks ago - I am just amazed to watch how quickly our superannuation is growing.
This week I've been getting our finances ready for the accountant and also preparing information for the financial planner. We had our investment property valued and I was stunned to see how much it has grown in value! It has more than doubled. I felt quite emotional as we could sell that property now, clear all debt and still have money left over to invest. I am not sure what we will do yet but it feels good to know that we have options.
So August is about me getting back into some better routines, relaxing more, and working less. DH and I both organised to work just three days this week, so we can step back a bit from work. I have meetings with HR about part-time options and with the financial planner at the end of the week. Only 501 days to go!
4 comments:
Is a superannuation all your personal savings and interest, your employer sponsored, or both? We too are in that careful retirement planning and watching our money and accounts with care.
Congratulations on the mortgage! That number is looking really good. I hope, you will find a way to relax and take care of yourself better this month. Stay safe and healthy!
Superannuation is similar to a 401K, so it has compulsory employer contributions and we can contribute extra from our pre-tax income which reduces the amount of tax we pay on that income down to 15%. Once we turn 60 (2022 for me) we have access to it and no tax is paid on withdrawing it if retired. It gives us the best tax advantage at the moment.
Thanks T'Pol :)
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