2020 may seem to be the worst year ever but maybe that's only true for this generation of Gen Y and Z.  I say that because history certainly reveals much worse years in the past, with plagues (and no hope for vaccine), occurring worldwide every 30 years or so (the Black plague actually lingered on for a very long time, and world spanning wars causing famine, death and destruction on a much wider scale than Covid. Not downplaying this year's suckiness, but I truly think the world can and will recover next year and the world leaders will be much more conscious about pandemic prevention and containment than ever before. I certainly hope and pray this will be the case as my kids will definitely need a better world to live in.

I myself have pushed myself out of the my funk from the last few months, albeit still struggling to exercise regularly and eat healthily.  In the depth of my funk (dont want to call it depression...yet), I actually almost quit my job, with the thought that I should just walk out the door and never look back. That said, i did stop myself for a moment and examined my emotions and to be honest what truly stopped me was that I wasnt yet prepared to give up my high paying job and live off of my savings....yet.  

Maybe in a few more years, I can do that.  At the pace i am going with investments, at least 3-4 more years, which I know seems pretty near and close, but truly seems to be crawling by.  I do realize how privileged I am that I have the ability to retire in my mid 40s working in the PH.  Good thing this blog is anonymous otherwise i'd probably get bashed for being so whiney.  lol.

I did hit a nearer term goal of 35m this year.  On track to hit 40m next year and 50m by the beginning of 2023. Happy with the progress but truly impatient to get to my FI number.

How about you all out there?  How's the journey going for you?

I am despondent today as I learned of the death of one of my colleagues. The deaths of several friends and acquaintances over the past few months weigh heavily on me too. So much so, that the effects of this quarantine pale in comparison. Being cooped up and unable to go out seem a small price to pay to keep others safe and yet we see this being flouted all across the country. I guess you dont really take it seriously until its in your face.

On the economic front, we also face an upcoming killer, the big increase in abject poverty in our country. The impact of that will be lingering for a longer time and will have unseen/unheard ramifications. Poverty means less healthcare, less ability to feed your family and less opportunities in advancement for many of the children.  May not mean instantaneous death but a hellish experience for sure over a longer period of time.  

I hope you, my reader, have survived and thrived during this difficult time.  I speak of chaos, death and poverty but then there is opportunity in chaos as well.  Bakers, online sellers, bartering and all other forms of trade have sprung up showing how people with the ability to adapt have done so over the past months. I hope you are one of them and if not, I hope you kept your job at least.  I hope we can continue on our journey here.

In my case, I have fared relatively well. Mind you, I took a big loss in my portfolio in March but have since recovered partially and still slogging away at getting myself and my family to FI.

I am looking to hit 31m in NW by the end of the year and keep on adding to my portfolio every single month, keeping my savings rate very high barring any other pandemics.

What a rough start to this year with all the calamities and strife all over the world.  Specially tough for our kababayans too. My hope is that we get through the rest of the year in better health and better wealth too.  My personal finance journey has been a little rough since the last quarter update, with my stock portfolio taking a hit and some unexpected expenses through the holiday season (I made some sizable donations, of around 100k total) to folks in need that I hadn't planned for.  I guess that's really part of the journey where if we are in a position to give, then we have that responsibility to help. That said, I am also forecasting zero bonuses this year as the company I am with struggles in the first half of this year.  Good thing, I am set to pay of my 3rd of 5 mortgages this year (which leaves 2 condos that are meant to be rented out as my only outstanding payables).   The last 2 of which are set to paid off by 2022 and 2023.

Personally, my family is doing well and our health is also top notch or at least better than last year. We've booked a couple of our vacations for the year and am paying for these in advance too so that i dont have to worry about budgets later on.   I continue my journey to FI and my update below reflects my January standing.   

Year is going by real fast.   My son is growing up quickly and seems to be a sharp blade and is becoming that teacher's pet that knows it all in class (he is 3). Might be annoying to his classmates but is adorable to the teacher.   My daughter is starting to give me mini heart attacks as tween boys seem to like her a lot (she's 9).   Lol.

On the financial front, I did get a bit ahead of the curve for the year earning a substantial bonus to boost my NW even before the year has ended.    TBH, the year has been great for a salaried employee like me.   I just blew past 25m for my NW and are on track for my FIRE goal in 5 or 6 years (used to need 10 more years to hit it)

We also went and splurged on probably the most macabre purchase you can have while in your 40's, a cemetery lot for yourself. Our thought here is that these cemetery lots are appreciating very quickly in Cebu.   As an example, the CEMPARK lots in Banilad are now going for 1m each.   We purchased a twin lot for 200k in Canduman.   I am also increasing my bonds as we save up for our retirement home targetted for construction in 2021.   Once we finish that and move in, I plan to sell our older house and lot for a profit, since its in a great location within the city.   I purchased that for 3.6m and will have lived in it for more than 8 years by that time saving us a substantial amount of rent cash in the process.   We plan to sell it for about 6m recouping our original money and more to account for inflation and appreciation.   

One more thing, as time goes by and as I build up my asset list, the anxiety and stress around becoming FI is truly lessening.  I feel I am a bit more relaxed and have actually splurged a bit on some items (bought some shoes and a guitar).    Love how the progress makes me feel and how it makes me think about my family being more and more secure over the years.    

It's been a great summer so far having been able to take several vacations with the family.  First we went to Bohol for a weekend, with Bohol's beach welcoming us with hot and sunny weather.  Then we also spent a staycation weekend in Cebu at one of the huge resorts there for some waterpark fun.    First week of May, my whole family also flew into Manila to stay with me for a couple of weeks.   So a lot of malling  happened in the city (my wife loves megamall for some reason while I prefer the Shangrila mall and the 30th) and also spent some time in the pool condo.      Last, before summer officially ended we also spent 9 days in Taipei, just going out and getting to know the city.  Phew.    

Since this is a finance journal, let me reassure you that I had budgeted and planned for all this way before we went travelling.   For example, we got a great airbnb in the middle of Taipei and just 5 minutes away from Taipei's super efficient MRT.   So we were able to save up on taxi fare and eat some of our meals at the Airbnb.   You'd be surprised that the most expensive of all the vacations was the one in Bohol, as we spent that during holy week where the resort charged us double the going rate (it was 15k a night).    

All this time spent with family, specially with my kids growing up so fast is ultimately, priceless.    So really doesnt matter to me if it hits my NW goals a bit.     Speaking of NW here's my latest update:

My NW has breached 20 million and hit 21 this month.    As you can see, I paid off the balance of my second lot loan making us title owners for 2 medium sized lots in the heart of the city (600 sqm total).    I reflected the updated price per sqm but underestimated a bit (saw an ad for 18k per sqm but just used 14k for now).    I am on track to hit 23m by the end of the year and can possibly hit 24m if I hit a couple of bonuses for the remainder of the year as well as garner some side income.   

Would you believe I only had a little more than a million pesos as NW when I started this blog?    Time really flies and focus really pays off.   

I am again way overdue for an update.    With time flying as it is, I forgot to post any new blog posts since the start of the year.     

Life in general has been pretty upbeat with so many things happening.  Kids are growing up kind and brave.   Wife is happy.   My career change almost two years ago has proven to be the right decision as I feel passionate about my job (and the company I used to be with has gone into chaos pretty quickly over the last year...phew, dodged that one).    

My financial life is also on track, or actually even better as I think I have shaved off a few more months to my FIRE date with 2025 a more feasible date to hit my target NW number.    I had a few windfalls over the past year too in the form of bonuses which you'd probably glean from my updated spreadsheet below.

Anyways, wishing everyone a great holy week and hope you all enjoy your vacations.