July ’20 – Net Worth and monthly update #23 £569,001 (-£36) 89% FI

The last few days saw a chaotic reintroduction of localised lockdown measures in our area with very confusing rules being announced, with a few hours notice, late last night.

After much searching to try and find out the details, we realised it does not change much for us personally, apart from not being able to visit our parents in their home.

So what have we been up to this month?

I’m struggling to think of anything significant we have done in July off the top of my head.

Mrs Fu continues to be busy with tutoring, and Fu#1 is still on a job search after being made redundant last month.

Me and Mrs Fu went out for an anniversary meal now that restaurants have reopened, which made a nice change after being cooped up eating takeaways over the last 3 months.

I moved forward on my property development plans for my storage yard, had the land surveyed and appointed an architect to produce some design proposals for me to approve.

I plan to go into further detail about my property and rental business in a separate post.

That’s it for now, so onto the figures.

 

The Numbers

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

Current FI value – £569k 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 July ’20 – £569,001  (Jun ’20 £569,037) -0% -£36

 

Assets – £796,696  (£799,376) -0.4%  -£2,407

Cash/bank £6667 (£6087)

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

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

Pension SIPP £190,797 (£193,784) -1.5%  -£2,987

 

Liabilities – £227,968 (£230,339) -1.0%  -£2,371

Main Home Mortgage £86,400 (£86,750)

Loans, Debts and credit cards £141,568 (£143,589)

 

Overall Net Worth in July has decreased by £36.

Liabilities were down by just over £2.3k, helped by the end of the mortgage payment holiday which I could have renewed for another 3 months but decided not to.

Assets decreased in value by £2.4k due to a stock market pullback in the last couple of days that resulted in a drop in the value of my SIPP by £3k. Cash in the bank increased by nearly £600.

Rolling year on year change in net worth from July ’19 is +£48,220 (assets +£31,979, liabilities -£16,241)

Since we began tracking our net worth in June ’18 our net worth has increased by £154k.

 

Property

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

The Equity in my main home is £338,028.

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

Nationwide’s July 20 report says house prices in the UK rebounded in July by +1.7%, reversing June’s falls.

The UK annual % change in house prices is +1.5%.

 

Dividends

SIPP Dividends paid in July were £394.

Dividends July 2020 YTD total £3122,  Av. £446/m   (July 2019 YTD  £1050,  Av. £150/m)

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

 

Other Monthly/weekly goals

Matched Betting  +£285 this month (+£244 last month)

A slight increase in profit this month. We are still only doing casino offers.

Total to date since starting 33m ago £11884 Av. £360/m (£11599 to last month Av. 362/m) means we made £285 profit this month, broken down as follows.

Casino/slot offers to date £5334 (5049) = £285 profit this month

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

Normal match betting offers £0 profit this month

 

Diet and Fitness –  Still inching forward on the fitness. I’m down to 68kg and 15% body fat (69kg, 16% body fat last month). Apart from my regular training, the kids’ football training and my weekly 5 a side football game have restarted.

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

eBay/selling – Mrs FU sold some old DVDs and books on music magpie that were not worth selling individually on eBay and made around £45. I’m still clearing out my storage yard but have not had time to sell anything or get to the scrapyard.

 

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

 

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1 Response to July ’20 – Net Worth and monthly update #23 £569,001 (-£36) 89% FI

  1. Pingback: The Full English – The Working From Home Collapse – The FIRE Shrink

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