Well, we are halfway through 2020, and have passed the summer equinox meaning days are getting shorter again.
Lots happening in the FU household again this month.
The family remains safe and healthy but Covid-19 still affects daily life. However, changes are beginning to happen on the way to easing the lockdown.
Unfortunately, our son FU#1 was told he was being made redundant from his job as a web developer. This coincided with changes in the furlough scheme which meant that employers would have to start contributing to the wages. There have been many redundancy announcements in the news due to the same issue.
He has started a new job search in earnest. We have a few contacts and here’s hoping he can find something quickly and quite local. He is also considering a part-time degree option if the job search is unsuccessful.
Daughter FU#2 starts back at work tomorrow after 3 months on Furlough and is looking forward to getting back to work. (and I’m looking forward to her going as well :))
I’ve been clearing out my storage yard and I’m planning to build some houses on the land if I can get planning permission. This should be achievable but I’m hoping Boris’ easing of planning restrictions will help. We’ll see when we get to know the details. Watch this space.
Mrs FU’s tutoring business is booming with 9 new students this month and 11 on the waiting list for next year.
We also finally got our flight refund from Easyjet after Mrs FU threatened them with legal action on the phone… note to self – don’t cross Mrs FU.
The Numbers
FI Target – £1.25m to give £50k/year income @ 4% withdrawal rate.
Current FI value – £569k networth+ £455k (State pen £18.2k x 25) + £87k (DB pen £3.5k x 25)) = £1.11m
% to Target FI – 89% (up from 87% 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 Jun ’20 – £569,037 (May ’20 £555,467) +2.4% +£13,570
Assets – £799,376 (£787,267) +1.5% +£12,109
Cash/bank £6087 (£4671)
Main Home Q2 £424,428 (Q1 £419,476) 1.2% +£4,952
Rental Properties Q2 £175,077 (Q1 £173,034) 1.2% +£2,043
Pension SIPP £193,784 (£190,086) +1.9% +£3,698
Liabilities – £230,339 (£231,800) -0.6% -£1,461
Main Home Mortgage £86,750 (£86,750)
Loans, Debts and credit cards £143,589 (£145,050)
Overall Net Worth in May has increased by £13.5k, reaching a new all-time high of £569k.
Liabilities were down by just over £1.4k, even though we are still on a mortgage payment holiday.
The stock market continues to rise, increasing my SIPP pension by £3.6k.
Rolling year on year change in net worth from June ’19 is +£54,819 (assets +£35,932, liabilities -£18,987)
Since we began tracking our net worth in June ’18 our net worth has increased by £154k.
YOY house price change +4.8%. The Equity in my main home is £337,678.
Main home and rental property values increased over the last quarter by 1.2%, even though house prices have trended downwards in the last month, calculated using the Nationwide House price index .
Nationwide’s June 20 report says house prices in the UK fell by 1.4% in June, with modest annual price growth across most regions in Q2.
I think house prices may fall further over the next couple of quarters, before recovering in 2021 with strong price growth through the year, as there is still a shortage of homes.
Dividends
SIPP Dividends paid in June were £611.
Dividends June 2020 YTD total £2728, Av. £455/m (Jun 2019 YTD £618, Av. £103/m)
(Yearly totals – 2016 £425, 2017 £911, 2018 £1306, 2019 £2319)
Other Monthly/weekly goals
Matched Betting +£244 this month (-£13 last month)
Back into profit this month. We are still only doing casino offers but we need to get back on the MB horse (pun intended) now that sport has recommenced.
Total to date since starting 32m ago £11599 Av. £362/m (£11355 to last month Av. 366/m) means we made £244 profit this month, broken down as follows.
Casino/slot offers to date £5049 (4806) = £244 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 doing well on the fitness. I’m down to 69kg and 16% body fat. I’ve been training every day on lockdown and also taking the kids out a couple of times a week for 3k runs. My new target is to get to 65kg and/or under 12% body fat.
eBay/selling – Mrs FU sold some old kids’ books on eBay and made around £50. I’m clearing out my storage yard and have lots to sell but no time to do it at the minute.
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
Sorry to hear that son FU#1 has been made redundant and hope something gets sorted for him soon.
Good to hear that Mrs FU’s tutoring business is going well – even without lockdown, I think this trend for online learning will continue.
Great going on your % target to FI – you’re not that far away!