Well that was painful, unexpected and, new word of the year ‘unprecedented‘! Such a lot has happened in the last 10 days / 2 weeks hasn’t it? I am getting used to the new normal; working at home, the joys of virtual pub quizzes, having Zoom family gatherings and missing my daily cycle.
Am a bit behind with blogging generally so am hoping social distancing will give me more time to devote to thinking and writing about FI and engaging more with the FI blogging community. I must admit I have been avoiding blogs and blogging over last two months or so – partly I was away for 2 weeks on holiday, work has been busy but I think I also have been avoiding it all on purpose, bingeing on BBC news, indulging in a bit of catastrophising and getting used to new habits.
I am not going to reflect on what Covid-19 has taught me about financial markets and life in general or how I am spending my time in lockdown for this post. Just the numbers, here goes, since last month Feb 2020 and despite a savings rate of 40%, my net worth has decreased,
- – 3.00%
- – £3,622
Actions from December
- Research Investment Trusts, what are they, how do they compare to funds and identify if they could provide more stability in providing a reliable income from investments when I FIRE.
- I did a bit of research but am waiting for the April MCR FIRE meet up online to hear how M using them to support his FI
- Research contributing to a pension when taking a pension, confirm how it works, if there are any restrictions and how it could fit into my FIRE strategy.
- Complete. Understand this is still possible the amount you can contribute is restricted to £3,600 (individual contributions £2,880, tax relief £720).
- Research the fund tips and decide if I would like to invest!
- Not done, need to revisit
- Think about the next FIRE meet up in the new year and see if a more structured session would be of interest – in fact D, Weenie and I have already been having an email exchange about the next steps.
- Complete! We had a great meet up in the Salutation 21st Feb, we had a relaxed round table chat about who were are, how we came to FI etc and a presentation by Weenie on her approach to FI, great to see new faces and met the FI blogger FU man chu. Matt posted a summary of the evening on The Lemon Fool
- Set up a mailing list so that anyone who attends the meet ups, whether they are a friend of a friend, use Facebook, Twitter or read blogs are aware of future events.
- Ditched the idea of a mailing list and we now have a Financial Independence FIRE – Manchester meet up group
- Additional quotes and a more detailed budget for the cellar conversion.
- Still thinking about this, did a more detailed budget, but Covid-19 has put a bit of a blocker on this, so am pausing
Personal Expenditure last month
Parking doing this, mind elsewhere – am assuming with social isolation that ‘Entertainment’ budget line will be severely reduced!
But since I last blogged I do want to check in with myself, maybe the last time for at few months, of some of the social activities I have enjoyed,
- 2 weeks travelling in Southern India – Tamil Nadu and Kerala
- MCR FIRE meet up 21st Feb
- Art of the Brick – Arty Lego Exhibition at Northern Warehouse Manchester, with my nephews and their families and lunch at Carluccio’s (now unfortunately in Administration), my Xmas gift to them
- Afternoon tea at Cloud 23 celebrating my friend’s 60th birthday
- A canal boat trip with All Board from Sale Marina to Dunham Massey with friends – this was my Xmas present to them. We had lunch at the Axe and Cleaver and they even bought out Xmas crackers for us!
- Met up with my 4 old school friends for drinks and dinner
- Wine club with my friends (just before lock down – we were very very drunk)
Action for next month
Keeping it simple this month
The main activity is our have our April MCR FIRE – Friday 17th April, is now going to be online using Zoom. Come and join us, you don’t even have to be in Manchester or the North West now.
Also am aiming to stay sane and positive, keep connected, and not drink too much cheap cider.