Sunday, December 3, 2023

November 2023 update ($835,288 +$74,067 or +%9.7)

 ↑ Emerging Markets Stock Index Fund is up by $5,293 or +4.4%
↑ Eurozone Stock Index Fund is up by $12,808 or +9.3%
↑ US 500 Stock Index Fund is up by $28,638 or +9.3%
↑ Global Small Cap is up by $14,007 or +10.9%
↑ Growth fund is up by $2,757 or +4.2%
↑ EUR to USD is up by 3.0% for my portfolio its $7,765
↑ GBP to USD is up by 4.3% for my portfolio its $2,798
Total gains: $74,067


November 2023 Financial Independence


A colleague of mine shared that he was paying $4K as maintenance support to two of his daughters studying away in a university. Without the university fees this comes at $120K per child for a five-year study. We are talking about year of walking financial tightropes. I have been trying to prepare myself of establishing the college funds. Hopefully I won’t need to use them but if I do, it least there is now enough money for first two years.

I have now a reasonably well-paid job but it’s not forever. While we move up the ladder and get higher-paying jobs, inflation, housing prices, interest rates keep me from truly making financial progress. I still keep living paycheck to paycheck because my expenses keep outpacing my paychecks.

Many people banking that the share prices rally will continue banking on Federal reserve rate to be cut from current 5.5%. At the same time Internal Revenues Services is charging 8% interest on estimated tax underpayments, up from 3% two years ago. The real inflation in the USA remains around 9% (government reports it as  3.5%).

Fun Fact:  Nigeria in sixth largest crude oil producer in the world or 1.5 million of barrels a day. Germany produces 0.03 million barrels of oil a day. When it comes to revenue, Germany collects more money from fuel taxes than Nigeria from selling oil ($160 million a day from selling 1.1 million barrels of diesel (taxed at 2.19/gal) and 0.45 million barrels of petrol (taxed at $3.00/gal).  To put into prospective German government taxes its citizens at $110/barrel just in taxes. This $160 million a day making 12% of Germany federal budget.

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