August ’20 – Net Worth and monthly update #24 £575,970 (+£6,969) 89% FI

Another busy and eventful month in August.

We took advantage of the Eat out to Help Out scheme this month. We made the most of it and went out a couple of times each week, as it is usually too expensive as a family of 8 to eat out.

The kids (#3 and #4) went back to school. Hurrah. They needed to go back really as, unlike #5 and #6 who are home educated and can self motivate, they need the structure of school to keep on track and do some kind of work. Also, #3 is in his final GCSE year, though we do not know yet what is happening with exams this time around.

It has been a bit more difficult around the house the last few weeks, as Mrs FU broke her ankle after I persuaded her to go out for a jog with me (my fault!). So she is hobbling around on crutches for 6 weeks whilst she recovers. Luckily it is a clean break so there are no complications.

FU#1 is still looking for a job. He had an interview last week which went well and he was hoping to hear back this week but he is still waiting,

On the property development front I have had initial designs drawn up, but these needed some changes, so I have yet to approve the final design before submitting to planning.

 

The Numbers

FI Target  – £1.25m to give £50k/year income @ 4% withdrawal rate.

Current FI value – £575k networth+ £455k (2xState pen £18.2k x 25) + £87k (DB pen £3.5k x 25)) = £1.11m

% to Target FI – 89% (no change 89% last month)

Time to FI =  3 years (assuming 7%/yr. growth in net worth)

 

MONTHLY UPDATE AND GOALS

Last months figures in brackets

Net Worth Aug ’20 – £575,970  (Jul ’20 £569,001) +1.2% +£6,969

 

Assets – £801,788  (£796,696) +0.6%  +£4,819

Cash/bank £7122 (£6667)

Main Home Q2 £424,428 (Q2 £424,428) 0% +£0

Rental Properties Q2 £175,077 (Q2 £175,077) 0% +£0

Pension SIPP £195,161 (£190,797) +2.3%  +£4,364

 

Liabilities – £225,818 (£227,968) -0.9%  -£2,150

Main Home Mortgage £86,050 (£86,400)

Loans, Debts and credit cards £139,768 (£141,568)

 

Overall Net Worth in August has risen by £6,969.

Liabilities were down by just over £2.1k.

Assets increased in value by £4.8k as stock markets continued to recover, benefitting my SIPP. Cash in the bank increased by nearly £500.

Rolling year on year change in net worth from July ’19 is +£55,189 (assets +£36,798, liabilities -£18,391)

Since we began tracking our net worth in June ’18 our net worth has increased by £161k.

 

Property

YOY  house price change +4.8%. (Q2 2019 – Q2 2020 NW England)

The Equity in my main home is £338,378.

Main home and rental property values will be updated when Q3 figures are released, calculated using the Nationwide House price index .

Nationwide’s August ’20 update says house prices in the UK rose in August by +2%, partly due to pent up demand after easing of lockdown.

The UK annual % change in house prices is +3.7%.

 

Dividends

SIPP Dividends paid in August were £603.

Dividends August 2020 YTD total £3725,  Av. £466/m   (July 2019 YTD  £1050,  Av. £150/m)

(Yearly totals –   2016 £425,  2017 £911,  2018 £1306,  2019 £2319)

 

Other Monthly/weekly goals

Matched Betting  +£506 this month (+£285 last month)

Good profits this month. We are still only doing casino offers.

Total to date since starting 33m ago £12390 Av. £364/m (£11884 to last month Av. 360/m) means we made £506 profit this month, broken down as follows.

Casino/slot offers to date £5841 (5334) = £506 profit this month

Each way sniping to date £625 (£625) = £0 this month

Normal match betting offers £0 profit this month

 

Diet and Fitness –  Eat out to help out was the culprit this month which meant I gained a little from last month. I went up to 70kg and 16% body fat (68kg, 15% body fat last month).

My target is to get to 65kg and/or under 12% body fat.

eBay/selling – Nothing to report this month.

 

Keep healthy and safe everyone.

 

Any comments/questions always welcome

 

Monthly Net worth since started tracking

#1 June ’18 £414,258

#2 July ’18 £413,030 -£1,228

#3 Oct ’18 £420,037 +£7,007

#4 Nov ’18 £420,222 +£185

#5 Dec ’18 £415,731 -£4,491

#6 Jan ’19 £417,754 +£2,023

#7 Feb ’19 £419,313 +£1,968

#8 Mar ’19 £434,282 +£14,969

#9 Apr ’19 £434,843 +£561

#10 May ’19 £504,531 +£69,688

#11 Jun ’19 £514,218 +£9,687

#12 Jul ’19 £520,781 +£6,563

#13 Sep ’19 £532,376 +£11,595

#14 Oct ’19 £534,406 +£2,030

#15 Nov ’19 £539,998 +£5,592

#16 Dec ’19 £543,861 +£3,863

#17 Jan ’20 £541,041 -£2,820

#18 Feb ’20 £525,898 -£15,143

#19 Mar’20 £501,581  -£24,317

#20 April ’20 £534,439 +£32,858

#21 May ’20 £555,467 +£21,028

#22 June ’20 £569,037 +£13,570 89%FI

#23 July ’20 £569,001 -£36 89%FI

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