Another update for Q2. I can’t believe we are halfway through the year already.
The numbers continue to inch in the right direction, mainly due to the stock market continuing to recover.
My house price showed a small rise according to Nationwide. The much-vaunted house price crash hasn’t yet materialised. We’ll see whether further possible rises in interest rates will cause larger drops, but the market is just about holding up.
Our son completed his house purchase we mentioned last quarter. It needs complete renovation and we are currently getting plans drawn up for an extension and loft conversion to add value. So hopefully he won’t go into negative equity if large house price falls do occur.
Rental reforms were announced, which included for section 21 no-fault eviction bans. I don’t see how this is going to help the rental market and will only serve to push up rents and make renting more difficult with reduced supply. Current rules are already in tenant’s favour, and it can take up to 12 months to get rid of non-paying tenants with little hope of redress for arrears or damage caused.
Fu#4 completed his GCSEs and has now left school. They had a prom which went down well and he stopped out all night partying. I didn’t ask for details! He is going to go to college in September to do A levels.
On the social side of things, we’ve been to a few gigs and a mini festival over the last few months, as well as the Manchester FIRE meetup. I’ve given up drinking at the moment which I feel better for, and started to lose a bit of weight because of it.
We have booked a cruise for our family holiday in August so we are looking forward to this. I will probably put the weight lost from not drinking back on though.
The Numbers
Original FI Target – £1.25m – to give £50k/year income @ 4% withdrawal rate.
Current FI value – £877k networth+ £530k (2xState pen £21.2k x 25) + £88k (DB pen £3.5k x 25)) = £1.495m
% to Target FI – 119.6% (118.4% last quarter)
Time to FI = Achieved! (achieved-April 21)
QUARTERLY UPDATE AND GOALS
Last quarters figures in brackets
Net Worth Q1 ’23 – £877,012 (Q1 ’23 £861,996) +1.7% +£15,016
Assets – £1,077,617 (£1,061,251) +1.5% +£16,366
Cash/bank £8911 (£8611)
Main Home Q2 £511,600 (Q1 £507,743) +0.8% +£3,857
Rental Properties Q2 £211,035 (Q1 £209,444) +0.8% +£1,591
Pension SIPP £346,071 (£335,453) +3.2% +£10,618
Liabilities – £200,604 (£199,255) +0.7% +£1,349
Main Home Mortgage £74,150 (£75,200)
Loans, Debts and credit cards £126,454 (£124,055)
Overall Net Worth in Q2 increased by £15k.
Property values grew slightly over the quarter, but my SIPP did the heavy lifting with the value increasing by just over 3%.
Rolling year-on-year change in net worth from Q2 2022 is +£22,513 (assets +£27,596 liabilities +£5,082)
Since we began tracking in June ’18, our net worth has increased by £462k, at an average of £7.7k per month.
Property
My house price YOY change -4.07%. (Q2 2022 – Q2 2023 NW England)
The Equity in my main home is £437,450. (£432,543)
Main home and rental property values are calculated using the Nationwide House price index.
Nationwide’s June ’23 update reports house prices remain flat with annual growth still in negative territory.
The UK annual % change in house prices is -3.5%, with a UK average house price of £262k. (£257k)
Dividends
Rolling 12m average is £799/m (£804/m last quarter)
Other Monthly/weekly goals
Matched Betting £0 this quarter (£0 last quarter)
Didn’t do any matched betting this quarter.
Total to date since starting 68m ago £13909 Av. £205/m (£13909 to last qtr. Av. 214/m), broken down as follows.
Casino/slot offers to date £6956(6956) = £0 this qtr.
Each way sniping to date £625 (£625) = £0 this qtr.
Normal match betting offers +£0 this qtr.
Diet and Fitness
Lost a couple of kg this qtr. due to not drinking and getting to the gym a couple of times a week – 76kg and 22% 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.