We’ve got to the end of another year, hope you’ve all had a nice Christmas break.
We had a good time over the holidays, hosting family parties, having a couple of meals out, and attending a concert in Manchester with an overnight stay thrown in for good measure. We’ve piled on the pounds in more ways than one, so me and Mrs Fu are back on a diet and no booze for January.
The past 12 months have again been great financially for us, with our net worth increasing by over £176k. The value of our assets has amazingly now breached the £1m mark, but I don’t think yet I can claim to have joined the double comma club, so we will continue with the same strategy of keep paying into our SIPPs, paying down debt, and maybe trying to add another property to my BTLs.
Who knows what the coming year holds for the markets and property prices, so it is nice to be building a buffer in case there is a large pullback, but for now the bull run continues. Rising inflation looks to be one of the main issues, with energy prices, food costs and tax rises all adding to the everyday cost of living.
One item I can’t get out of my mind recently is the amount of equity now built up in our main home. I feel like now is the time to sell to free the money up so I can put it to work in a more productive way, especially if house price gains start to slow down in the near term.
We’ll see what happens in the coming months.
Original FI Target – £1.25m – to give £50k/year income @ 4% withdrawal rate.
Current FI value – £828k networth+ £466k (2xState pen £18.6k x 25) + £88k (DB pen £3.5k x 25)) = £1.383m
% to Target FI – 110.7% (108.3% last month)
Time to FI = Achieved! (achieved-April 21)
MONTHLY UPDATE AND GOALS
Last months figures in brackets
Net Worth Dec ’21 – £828,958 (Nov ’21 £799,268) +3.7% +£29,690
Assets – £1,017,973 (£989,144) +2.9% +£28,859
Cash/bank £7362 (£7402)
Main Home Q4 £490,731 (Q3 £477,066) +2.9% +£13,665
Rental Properties Q4 £202,426 (Q3 £196,790) +2.9% +£5,636
Pension SIPP £317,454 (£307,856) +3.1% +£9,598
Liabilities – £189,015 (£189,846) -0.4% -£831
Main Home Mortgage £80,450 (£80,800)
Loans, Debts and credit cards £108,565 (£109,046)
Overall Net Worth in December increased by £29k, due to increasing property prices and rising SIPP values.
Rolling year on year change in net worth from December ’20 is +£176,537 (assets +£150,443 , liabilities -£26,094)
Since we began tracking in June ’18, our net worth has increased by £414k, at an average of £9.8k per month.
My house price YOY change +11.24%. (Q4 2020 – Q4 2021 NW England)
The Equity in my main home is £410,281.
Main home and rental property values are calculated using the Nationwide House price index.
The UK annual % change in house prices is +10.4%, with a UK average house price of £254k.
SIPP Dividends paid in December were £727.
Dividends Dec 21 YTD total £7383, Av. £615m (Dec 20 ytd £5942, Dec 19 ytd £2319)
(Yearly totals – 2016 £425, 2017 £911, 2018 £1306, 2019 £2319, 2020 £5942)
Other Monthly/weekly goals
Matched Betting +£29 this month (-£32 last month)
We are still mainly doing casino offers with a little normal match betting.
Total to date since starting 50m ago £13272 Av. £265/m (£13243 to last month Av. 270/m), broken down as follows.
Casino/slot offers to date £6394(6396) = -£2 this month
Each way sniping to date £625 (£625) = £0 this month
Normal match betting offers +£31 this month
Diet and Fitness
Ballooned to 78kg and 22% body fat due to partying. (74kg, 19% body fat last month).
Haven’t been able to train either as I cracked my ribs playing football, and have been in pain with them for the past 3 weeks, so it will probably be another couple of weeks before I start training again.
My target is to get to 70kg and/or under 15% body fat.
eBay/selling – Sold a couple of items from last months casino win and some other bits so Mrs Fu made about £400.
Any comments/questions always welcome