Despite the stock markets dropping quite a bit this month our Net worth has increased as the property market continues to rise, albeit at a slowing rate.
Who knows what’s going to happen to stocks and property prices, but we will continue in the way we have been going for the last 4 years with the aim to FIRE in 2025. We hope that property will continue to be our inflation hedge up until the time that we can downsize, and I’m conscious that we have nearly £0.5m in property equity waiting to be unleashed.
We continue to get out at least one evening per week for a meal or drinks, although I’ve been struggling to take a day off work a week as I’ve been busy due to the good weather, and you’ve got to make hay whilst the sun shines sometimes.
We also attended a wedding that had been postponed three times due to lockdowns, and went to the Manchester FIRE meetup, so all in all a busy month again.
The Numbers
Original FI Target – £1.25m – to give £50k/year income @ 4% withdrawal rate.
Current FI value – £843k networth+ £481k (2xState pen £19.2k x 25) + £88k (DB pen £3.5k x 25)) = £1.423m
% to Target FI – 113.9% (113.0% last month)
Time to FI = Achieved! (achieved-April 21)
MONTHLY UPDATE AND GOALS
Last months figures in brackets
Net Worth June ’22 – £854,500 (May ’22 £843,734) +1.3% +£10,766
Assets – £1,050,021 (£1,034,808) +1.5% +£15,213
Cash/bank £7453 (£7534)
Main Home Q2 £533,323 (Q1 £509,944) +4.6% +£23,379
Rental Properties Q2 £219,996 (Q1 £210,352) +4.6% +£9,644
Pension SIPP £289,249 (£306,978) -5.8% -£17,729
Liabilities – £195,522 (£191,094) +2.3% +£4,448
Main Home Mortgage £78,350 (£78,700)
Loans, Debts and credit cards £117,172 (£112,374)
Overall Net Worth in June increased by £10.7k due to a rise in property values.
Debts increased slightly due to some restructuring and taking advantage of low rate borrowing that will be eroded by inflation.
Rolling year-on-year change in net worth from June ’21 is +£113,115 (assets +£93,527 liabilities -£19,587)
Since we began tracking in June ’18, our net worth has increased by £440k, at an average of £9.1k per month.
Property
My house price YOY change +13.33%. (Q2 2021 – Q2 2022 NW England)
The Equity in my main home is £454,973.
Main home and rental property values are calculated using the Nationwide House price index.
Nationwide’s June ’22 update reports annual house price growth slows in June again but is still in double digits.
The UK annual % change in house prices is +10.7%, with a UK average house price of £271k.
Dividends
SIPP Dividends paid in June were £1594. Highest monthly amount on record.
Dividends June 22 YTD total 4657, Av. £776/m (June 21 ytd £3340, June 20 ytd £2728)
(Year totals –2016 £425, 2017 £911, 2018 £1306, 2019 £2319, 2020 £5942, 2021 £7383)
Rolling 12m average is £756/m
Other Monthly/weekly goals
Matched Betting –£181 this month (-£186 last month)
Another loss this month. This is the third month in a row and I am now questioning whether it is worth continuing. We’ll keep going for now and see if our luck changes.
We are still mainly doing casino offers with a little normal match betting.
Total to date since starting 56m ago £13859 Av. £247/m (£14040 to last month Av. 255/m), broken down as follows.
Casino/slot offers to date £6939(7120) = -£181 this month
Each way sniping to date £625 (£625) = £0 this month
Normal match betting offers £0 this month
Diet and Fitness
Went down to 75kg and 21% body fat . (76kg, 22% body fat last month).
Back in pre-season football training with the kids’ football.
My target is to get to 70kg and/or under 15% body fat.
eBay/selling – Nothing done this month.
Hi there, really like your blog thanks for doing it! Can I ask about including state pension in your net worth please? I get that’s going to land (hopefully) in the future but 25 years x 2 of that seems pretty optimistic given when we finally get to access it these days! Is the logic that ignoring how long you might get it, effectively you can spend more of your pension/savings etc earlier e.g. before SP age and therefore get to FI earlier? I’m curious, as I’d be confident of getting the full SP x 2 as well, but I’m not factoring it in at all. Might give me a different approach to reflect on 🙂 cheers!
Awesome dividends!
I’m still chugging along with the matched betting too – might just give it another year see how it goes.
What are your next goals, now that the FI goal is reached for a few months already?