This month, a big rebound in net worth recovers all the losses of the last couple of months.
The property market continues to rise despite global events, inflationary pressures, and the squeeze on household budgets due to rising interest rates and energy costs.
We’ve probably noticed inflation most in our food shopping, where everything seems to have gone up more than 25%, rather than the official inflation figure of around 8%.
We haven’t done anything special in March, apart from a few meals out and going to kid’s football matches. We did toy with the idea of going abroad and getting some sun in the Easter holidays but decided against it due to covid and vaccination rules still in place in most countries.
There was another online Manchester FIRE meetup that we attended this month on the topic of decumulation. It was an interesting talk and I continue to refine my ideas and thinking on my own decumulation plans as I learn more.
The Numbers
Original FI Target – £1.25m – to give £50k/year income @ 4% withdrawal rate.
Current FI value – £848k networth+ £481k (2xState pen £19.2k x 25) + £88k (DB pen £3.5k x 25)) = £1.417m
% to Target FI – 113.4% (109.0% last month)
Time to FI = Achieved! (achieved-April 21)
MONTHLY UPDATE AND GOALS
Last months figures in brackets
Net Worth March ’22 – £848,397 (Feb ’22 £808,102) +5.0% +£40,295
Assets – £1,041,533 (£993,962) +4.8% +£47,571
Cash/bank £8037 (£7560)
Main Home Q1 £509,944 (Q4 £490,731) +3.9% +£19,213
Rental Properties Q1 £210,352 (Q4 £202,426) +3.9% +£7926
Pension SIPP £313,200 (£293,245) +6.8% +£19,955
Liabilities – £193,136 (£185,860) +3.9% +£7,276
Main Home Mortgage £79,400 (£79,750)
Loans, Debts and credit cards £113,736 (£106,110)
Overall Net Worth in March increased by £40k. Over half was due to increased property prices and the remainder was a rebound in my SIPP.
Rolling year on year change in net worth from March ’21 is +£156,745 (assets +£131,167 liabilities -£25,578)
Since we began tracking in June ’18, our net worth has increased by £434k, at an average of £9.6k per month.
Property
My house price YOY change +12.37%. (Q1 2021 – Q1 2022 NW England)
The Equity in my main home is £430,544.
Main home and rental property values are calculated using the Nationwide House price index.
Nationwide’s March ’22 update reports annual house price growth surges to its highest level since 2004.
The UK annual % change in house prices is +14.3%, with a UK average house price of £265k.
Dividends
SIPP Dividends paid in March were £635.
Dividends March 22 YTD total 1631, Av. £544/m (Mar 21 ytd £1096, Mar 20 ytd £929)
(Year totals –2016 £425, 2017 £911, 2018 £1306, 2019 £2319, 2020 £5942, 2021 £7383)
Rolling 12m average is £639/m
Other Monthly/weekly goals
Matched Betting +£303 this month (+£622 last month)
We are still mainly doing casino offers with a little normal match betting.
Total to date since starting 53m ago £14403 Av. £272/m (£14100 to last month Av. 271/m), broken down as follows.
Casino/slot offers to date £7476(7161) = +£316 this month
Each way sniping to date £625 (£625) = £0 this month
Normal match betting offers -£12 this month
Diet and Fitness
Still 75kg and 21% body fat . (75kg, 21% body fat last month).
Continued to train 3 times per week without worrying about diet.
My target is to get to 70kg and/or under 15% body fat.
eBay/selling – Nothing done this month.
Any comments/questions always welcome