A scary statistic I saw the other day – we are already more than 10% through 2021!
It was a boot up the backside to start making some progress, as it feels like I have not done or achieved anything much yet this year, or even that the year has even properly begun.
It is possible I will hit my FI number this year if my figures continue to rise at the same rate they did last year. However, I am cautious as house prices have fallen slightly this month, possibly due to the upcoming end of the stamp duty holiday, and, as always, the equity markets could have a major fall at any time. These factors are outside of my control, so I will continue to do what I have been doing over the last few years by contributing to my SIPP and paying down debts. What will happen will happen.
I haven’t really set any definitive goals or new year resolutions this year, other than to try to do something each day that moves me forward in health, wealth and happiness.
Health – keep training 3-4 times a week and improve my diet by eating healthy/cutting out snacks.
Wealth – keep saving into my SIPP, pay down debts, and progress my building development/BTLs
Happiness – Be more intentional/mindful in planning activities and spending time with the family and friends.
The Numbers
FI Target – £1.25m to give £50k/year income @ 4% withdrawal rate.
Current FI value – £661k networth+ £455k (2xState pen £18.2k x 25) + £87k (DB pen £3.5k x 25)) = £1.2m
% to Target FI – 96.4% (95.6% last month)
Time to FI = 12 months, Jan 22 (last month- 14 months, March 22)
MONTHLY UPDATE AND GOALS
Last months figures in brackets
Net Worth Jan ’21 – £661,508 (Dec ’20 £652,421) +1.4% +£9,087
Assets – £875,180 (£867,530) +0.9% +£7,650
Cash/bank £8393 (£7110)
Main Home Q4 £441,157 (Q4 £441,157) +0% +£0
Rental Properties Q4 £181,977 (Q4 £181,977) +0% +£0
Pension SIPP £243,653 (£237,286) +2.7% +£6,367
Liabilities – £213,672 (£215,109) -0.7% -£1,437
Main Home Mortgage £84,300 (£84,650)
Loans, Debts and credit cards £129,372 (£130,459)
Overall Net Worth in January rose by £9,087, mostly due to £6k rise in my SIPP and ongoing debt paydown.
Liabilities were down by just over £1.4k.
Assets increased by £7.6k.
Rolling year on year change in net worth from January ’20 is +£120,647 (assets +£96,580, liabilities -£23,887)
Since we began tracking our net worth in June ’18 our net worth has increased by £247k, at an average of £7.9k per month.
Property
My house price YOY change +7.98%. (Q4 2019 – Q4 2020 NW England)
The Equity in my main home is £356,857.
Main home and rental property values are calculated using the Nationwide House price index.
Nationwide’s January ’21 update says UK annual house prices fell by 0.3% in January.
The UK annual % change in house prices to January is +6.4%, with a UK average house price of £229k.
Dividends
SIPP Dividends paid in January were £265.
Dividends January 21 YTD total £265, Av. £265/m (Jan 20 £189, Jan 19 £187)
(Yearly totals – 2016 £425, 2017 £911, 2018 £1306, 2019 £2319, 2020 £5942)
Other Monthly/weekly goals
Matched Betting +£113 this month (+£270 last month)
£113 profit this month. We are still mainly doing casino offers, but have dipped our toe back into normal match betting again.
Total to date since starting 39m ago £12476 Av. £320/m (£12363 to last month Av. 325/m) means we made £113 this month, broken down as follows.
Casino/slot offers to date £5915 (5814) = +£101 this month
Each way sniping to date £625 (£625) = £0 this month
Normal match betting offers £12 profit this month
Diet and Fitness – Training consistently 3-4 times per week but need to put more effort into eating more healthily. Stayed at 74kg and 19% body fat (74kg, 19% body fat last month).
My target is to get to 70kg and/or under 15% body fat by next month.
eBay/selling – Nothing done this month.
Keep healthy and safe everyone.
Any comments/questions always welcome
Monthly Net worth since started tracking
#20 April ’20 £534,439 +£32,858
#22 June ’20 £569,037 +£13,570 89%FI
#23 July ’20 £569,001 -£36 89%FI
#24 August ’20 £575,970 +£6,969 89%FI
#25 September ’20 £584,439 +£8,469 90% FI