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.   

Man, I cannot believe I haven't put in a post for this long now.    I have been very lazy with the writing recently and have completely ignored this blog plus any other extracurricular activities I used to have regularly.    TBH, its been a whirlwind of sorts in both work and family.   

Good thing is the new year presents new opportunities and I wanted to start it off with a new year update on my financials too!   As an update, I finished and paid off the 1st of 5 mortgages I had!    Woohoo!  I then also am well into my 1st condo, purchase, completing the down payment as well as the renovation costs to make it into a pretty cushy crashpad for myself while I work in Manila.    Both are positive updates but one increased my net worth while the other really just was an expense (although I think its well worth it to live in a space that you feel relaxed and super comfy in).  How about you folks, how was your 2018?   

One of the things I committed to write about was around the process of "getting there".  "There" defined as eventual Financial Independence.    I think one of the things I have left out describing over the years is how much time and effort I have devoted to planning.   As a background, I am an avid reader and do subscribe to the thought that "fortune favors the prepared mind" (quote from Louis Pasteur).   Prior to the journey to FI, I would plan out the next 2 to 3 years of what else I would be doing in my life whether its career or pursuing a hobby.   I'd create my own list of things to accomplish for the next year and what goals I need to hit to make constant progress.   In 2014, I realized I needed to plan even further as it became necessary for me to think about my far future and my kids futures as well.   Part of that planning process is this blog, and other parts are in excel sheet which i have meticulously maintained over the past 5 years (the NW snapshots I post come from that excel sheet).   In the same spreadsheet are multiple tabs for Budget, NW tracking, progress on major goals (such as the house fund or the payments for mortgages which i now have 5 of), some notes for my wife in case I die suddenly (estate stuff), and some additional goals that I would move on if my income increase or...... decreased.   Yes, I plan for job loss or emergencies as well.   

My wife has made the comment on how OC I am about our personal life and has compared it to how I work.  I told her, if you cant take care of your own personal finances, how can you be responsible for other people?   Which to me just makes sense.   Before you even try to be responsible for others (hint to parents), please ensure you got your own shit sorted out).   Hence all the planning I have devoted.   I also plan for how I can increase my income yearly and plan out 5-15 years out where before I only do 2-3 years.    

If you ask me, thats probably the one key thing that has helped me out these past 5 years.   You reduce unplanned and unnecessary purchases.  You plan for major expenses in advance and are able to allot money for it  (such as vacations).   You can also plan for emergencies without having to go into debt (hello hospital fund).   And again, I have planned around increasing income as well and if i see myself falling short for the year, I do act to cover the shortfall (such as when I sold a condo to earn some side commission). 

  Planning allows me to not be a passive participant in life and financials.  I see many comments from Pinoys complaining about increasing taxes on certain goods and complaining about "tingbits" (why not just dont buy that expensive sugary drink and bring a reusable bottle instead).   I see that as poor planning PERIOD.  (and before you judge me and say that I am lucky to have a big income now, note that I started off doing side gigs even before becoming employed with minimum wage to start).    I used to eat bananas and peanuts for lunch since that was all i could afford (and I planned for that too so that I would have some leftover money).      But I digress, planning allows me to actively take hold of my life, for good or bad.   Reacting and proactively anticipating different circumstances in life.   I actually have a list of things I can do, if I suddenly lose my job tomorrow (such as selling off a few things and cancelling subscriptions etc).   Planning ensures I am accountable for my own actions and can at least steer the ship of life.   There will be things I wouldnt have been able to plan for that will happen, but then there will be a huge percentage that I would hae and that makes all the difference.   

So if you want to get to FI, what's your plan?