Fingeek's Journal

Where are you and where are you going?
fingeek
Posts: 53
Joined: Wed May 24, 2017 8:16 am
Location: South Wales

Re: Fingeek's Journal

Post by fingeek » Mon Oct 08, 2018 11:26 am

Update for Sept:

Primary job income cover (How much of my primary salary am I saving?): 75% (Last month: 75%)
Savings Rate: 66% (Last month: 66%)
Current net worth (not including home): £301,437 (Last month: £303,686)

To cover "fixed expenses" (lean FIRE):
Current Withdrawal Rate requirement: 7.3% (Last month: 7.2%)
NW deficit to 4% SWR: £246,442 (Last month: £244,194)
Years of savings to 4% SWR: 4.7yr/Jun 2023 (Last month: 4.7yr/May 2023)

To cover "fixed expenses + optional expenses" (live as today):
Current Withdrawal Rate requirement: 8.8% (Last month: 8.8%)
NW deficit to 4% SWR: £364,267 (Last month: £362,018)
Years of savings to 4% SWR: 7.0yr/Sept 2025 (Last month: 6.9yr/Aug 2025)

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Another month of a slightly dropping net worth - And this should be the last of them, as I'm getting the house in order for the yearly plan. Not too many other thoughts this month, just following the plan!

fingeek
Posts: 53
Joined: Wed May 24, 2017 8:16 am
Location: South Wales

Re: Fingeek's Journal

Post by fingeek » Mon Oct 08, 2018 11:40 am

Q3 update on yearly plan

1. (DONE 100%) Fix/simplify asset allocation, and reduce costs.
2. (DONE 100%) Review the current investment platforms, to ensure I'm optimising for fees.

3. Purchase at least two more property investments this year.
INPROGRESS 80%. Pub conversion property completed, and renovation is 90% done (reopen downstairs as a pub/bar, create 8 residential units upstairs). No plans to buy a 2nd, as this first one ended up being a beast.

4. (DONE 100%) Reduce P2P investment.

5. Max out my wife and my ISAs for the year.
INPROGRESS 50%. Current surplus capital is going into the pub conversion; Once that's done, surplus will go to fill our 18-19 ISAs.

6. Literally getting the house in order.
DONE 100%. Ensuite replaced! Painting done inside/outside! Only thing remaining is the radiator replacement. Interestingly, with the pub refurb I've gained enough random building knowledge, to be comfortable with changing rads myself. So I'll plan to keep £1k invested and just replace the rads as and when they rust/leak.

7. Ask for a sabbatical before pulling the trigger.
DONE 100%. I'm taking practically all of next year off for paternity/shared parental leave, so this will double up as my sabbatical.

8. Quit work in August (????)
DONE 99%. I'm considering this task done as I've "slipped" it to January with baby due, and take the subsequent year off. That way, I have a good chunk of time off, and also have a fallback option to go back to work if I need (or chose?) to. By end of year, I'll be in a position where investments and property income generate >100% "core monthly living income". And then a small trickle of fun money from side businesses and barFI. Task marked 99% to review this is the case come January.

9. (DONE 100%) Find x hobbies, build life outside of money

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