Happy new year everyone, hope you had a good one.
New years eve didn’t exactly go to plan, with us having to rescue a drunk daughter from a house party, meaning we had to leave our neighbour’s party early and see in the new year trying to sober up an emotional 17 year old.
Another year has flown by and we are now in the 2020’s.
Like many other people have been doing, Mrs Fu and I were looking back over the last decade at the changes in our life. We continue to be amazed at how fast time disappears when you are busy in your day to day life.
In that time we have gone from six children aged 10 and under at primary school or nursery, to two kids now in work, two kids working towards GCSEs, and two kids being home educated.
There’s plenty to look forward to in the new decade, as the kids grow up and start to forge their own paths in their lives.
On the FIRE front we are aiming to hit FI in 2025, to coincide with when I can draw on my SIPP at 55 and the youngest kids reaching school leaving age.
Not really early retirement, but better than a lot of people. My thoughts on actually pulling the trigger at 55 have crystallized in the last few months, due to observing illness/deaths in people we know who are not much older than us.
There has been a lot of discussion on many blogs recently about post FI plans and the need for meaningful work/hobbies etc. I will continue to do some work after that, such as managing my properties, but we will definitely take more holidays and do less physical work. Working and bringing up 6 kids is non stop, and I am quite happy to do nothing on my downtime and don’t feel the need for constant challenge/stimulation.
Looking at the numbers over the last 12 months our net worth has increased by over £127k, with assets increasing by £113k and liabilities decreasing by nearly £15k.
This goes to show that when you actively start to tackle the finances the gains can be amazing. If we can keep these gains going over the next 5 years we will smash our FIRE targets.
Heres to a great decade ahead.
MONTHLY UPDATE AND GOALS
Net Worth December ’19 – £543,861 (Nov ’19 £539,998) +0.7% +£3,863
Assets – £784,006 (£780,584) +0.4% +£3,422
Cash/bank £2722 (£2085)
Main Home Q3 £415,406 (Q3 £415,406) +0%
Rental Properties Q3 £171,355 (Q3 £171,355) +0%
Pension SIPP £194,523 (£191,738) +1.5% +£2,785
Liabilities – £240,145 (£240,586) -0.2% -£441
Main Home Mortgage £88,150 (£88,500)
Loans, Debts and credit cards £151,995 (£152,086)
Overall Net Worth in December has increased by £3422.
The increase in our net worth is mainly due to a 1.5% rise in the SIPP valuation, more cash in the bank, and a small decrease in our liabilities.
Main home and rental property values were calculated using the Nationwide House price index calculator and will be updated when Q4 figures are published.
Dividend payments in 2019 saw an increase of £1k over 2018.
SIPP Dividends paid in December – £324
Dividends 2019 total £2,319 Av. £193/m (2018 total £1306, Av. £108/m).
Other Monthly/weekly goals
Matched Betting +£214 this month (+£1248 last month)
Match betting slowed down this month due to time constraints but just keeping it ticking over.
Total to date since starting 26m ago £10787 Av. £415/m (£10573 to last month Av. 423/m) means we made £214 profit this month, broken down as follows.
Casino/slot offers to date £4654 (4470) = £184 profit this month
Each way sniping to date £408 (£408) = £0 profit this month
Normal match betting offers £30 profit this month
Diet and Fitness – Due to a bad chest and head cold meant I did nothing in the second half of December. Looking to get back to normal in the new year with the aim to get below 70kg and under 15% body fat.
eBay/selling – Mrs Fu sold some old toys, with more stuff to get rid of in the new year.
Thanks for reading.
Any comments/questions always welcome