Steady as she goes sums up this quarter’s net worth update.
The numbers keep slowly moving in the right direction, but it feels like everything is just treading water.
The housing market recorded another small drop this month, but I still don’t think we will have a full-blown crash as there is still a shortage of houses coming on to the market.
Talking of property, and our son’s recent LISA update , he has made an offer on a property which has been accepted. It all happened quite quickly after we actively started looking for a house for him. We’ll see how smoothly the conveyancing process goes. I’ll update in a future post.
January, February and March always seem to go by really fast, and I don’t recall doing anything extra interesting over that period. We continue to live our daily lives keeping busy doing all the day-to-day chores that come along with a large family.
We have had a few nights out and attended a couple of FIRE meetups, but other than that nothing of real note. We have booked a family holiday in August so that is something to look forward to.
Now that the easter holidays are done we will back in the routine of the kids back at school. Fu#4 has his GCSEs coming up in a few weeks and we have been looking and applying for college as he is going to do A levels, but doesn’t want to do them at the school he attends.
The eldest 3 kids continue to do well at work. I have been teaching FU#3 to drive and he turns 18 shortly so he will start wanting to get out and about a bit more. That’ll be another car parked outside my house no doubt.
The Numbers
Original FI Target – £1.25m – to give £50k/year income @ 4% withdrawal rate.
Current FI value – £861k networth+ £530k (2xState pen £21.2k x 25) + £88k (DB pen £3.5k x 25)) = £1.480m
% to Target FI – 118.4% (113.8% last quarter)
Time to FI = Achieved! (achieved-April 21)
QUARTERLY UPDATE AND GOALS
Last quarters figures in brackets
Net Worth Q1 ’23 – £861,995 (Q4 ’22 £852,658) +1.1% +£9,337
Assets – £1,061,251 (£1,056,557) +0.4% +£4,694
Cash/bank £8611 (£8361)
Main Home Q1 £507,743 (Q4 £520,138) -2.4% -£12,395
Rental Properties Q1 £209,444 (Q4 £214,557) -2.4% -£5,113
Pension SIPP £335,453 (£313,501) +7% +£21,952
Liabilities – £199,899 (£203,899) -2.3% -£4,644
Main Home Mortgage £75,200 (£76,250)
Loans, Debts and credit cards £124,055 (£127,649)
Overall Net Worth in Q1 increased by £9.3k.
Property values fell by over 2% for the second quarter in a row. My SIPP once again came to the rescue, due to a combination of rebounding markets and contributions before tax year end.
Rolling year-on-year change in net worth from Q1 2022 is +£13,598 (assets +£19,718 liabilities -£6,119)
Since we began tracking in June ’18, our net worth has increased by £447k, at an average of £7.8k per month.
Property
My house price YOY change -0.43%. (Q1 2022 – Q1 2023 NW England)
The Equity in my main home is £432,543.
Main home and rental property values are calculated using the Nationwide House price index.
Nationwide’s March ’23 update reports seventh consecutive monthly decline in house prices.
The UK annual % change in house prices is -3.1%, with a UK average house price of £257k.
Dividends
Rolling 12m average is £804/m (£781/m last quarter)
Other Monthly/weekly goals
Matched Betting £-25 this quarter (£0 last quarter)
Got tempted back with a few Chelts offers. and updated my casino figures which showed a small loss this quarter.
Total to date since starting 62m ago £13909 Av. £214/m (£13934 to last qtr. Av. 2225m), broken down as follows.
Casino/slot offers to date £6956(7006) = -£50 this qtr.
Each way sniping to date £625 (£625) = £0 this qtr.
Normal match betting offers +£25 this qtr.
Diet and Fitness
No change from last qtr. – 78kg and 24% body fat . (78kg, 24% body fat last qtr).
My target is to get to 70kg and/or under 15% body fat.
eBay/selling – Nothing done this qtr.