A new month means it is time again to update The Ultimate Dream Fund again, as I continue our journey to early retirement. The Ultimate Dream Fund is named because it is our dream to retire early, and we need the funds to make that happen! One day, this fund will provide us with the money to live on when we leave our 9-5 jobs and time will be all ours. That’s the biggest motivator for achieving our goal.
I’m going to post updates on our fund for two reasons; one, so that I can show that living a frugal lifestyle means that we can retire earlier than we should do and still live a good life on the journey, and two; to keep me motivated for the long haul. This journey is going to take us a long time, but it’ll be worth it in the end. This plan also includes us being mortgage free, so that our monthly outgoings are reduced and manageable.
November marks the seventh month of doing these updates, so we should be making some good progress by now. It is slower than I would have liked, but at least we’ve started! In all of my previous updates, all of our savings have been in a savings account. Not any more! I have opened a stocks and shares ISA, finally, so our savings are now split between two accounts.
Related post: I’ve Started To Invest – Finally!
As of November 30th, our Ultimate Dream looks like this:
| Account | Amount | Increase |
|---|---|---|
| Stocks and Shares ISA | £965.87 | +£965.87 |
| Regular Savings Account | £4,203.95 | +£106.65 |
That overall is an increase of £1,072.52 for the month of November, which is fantastic. I’m really pleased with that amount. It is slowly creeping upwards, though we are far from having our first year of early retirement saved. In our budgets, we’re aiming to save £18,000 per year for early retirement, though obviously if we can save more than that, we won’t complain! But, if I want us to meet our long term aims, I need to start bringing in more money! If you would like to work with me, please check out my Hire Me/Advertise tab!
Finally, here is the progress of the fund since it began in June:
How was November for your savings/investing targets? Are you still on track?
I think we all need an ultimate dream fund. Trust me, you may think you’re moving slow, but they are many people who wish they can have what you have right now. Good luck!
Thank you; it just seem to be going slowly, but at least it’s in the right direction 🙂
I am making my own dream fund for 2016! I am just so excited because I believe this would make me motivated to reach my financial goals. My November is still good because I know my December would be a bit hard to manage because of those expenses. Yay.
How exciting! Looking forward to reading about that 🙂
The beauty of compound interest is that you save and save and save and the curve slowly goes up, and then twenty years down the road your compounding gives you more than the savings. We are at that point now and even though it hasn’t been the greatest year, the interest/dividends/increased value of stocks has been noticiable.
I cannot wait until we reach that point 🙂
That is a great increase for November. Hope you are able to beat it in December 🙂
Thank you 🙂 it’s looking unlikely that we’ll beat it though – expenses are stacking up!
Haha, I love the name of your fund. What a motivator! And congrats on the increase. Good luck next month!
Thank you 🙂