Time for a beginning of the year wealth update.
I haven’t seen the point of doing any of these recently as everything’s remained generally stable, but now’s a good time for a review as I’m soon to start spending money tarting up the house for renting out and maybe, possibly, probably not doing buying a van to live in for the next several years.
TNW = £49 000.
Made up of:
The obscured negative figures are a credit card (cheap transfer) debt and pending tax, estimated.
This excludes property wealth and other pension wealth.
This is down £1000 since last July when I last had a look, I think mainly because I've been earning a tiny tad less than I've been spending - that £grand£ was basically from Steem Fest 4 and another month in Thailand, may have to shelve that for next year!
Thoughts on my wealth spread
- I’ve drawn down about £10k worth of shares since last August, I needed to rebalance things, and diversified that into some of the other sources
- Peer to peer lending – my return seems to be steadily going down, it was near 6%, now it’s 5.3%, still not bad, but I’ve taken some out to pay for house mods in the coming month.
- Cash savings – sitting there to be spent on paying of the credit card, tax and house mods. I may need more!
- Credit card transfer debt – I took advantage of a few 1-2% deals for transfers, and bought crypto/ put the cash in a high interest account. Seemed rude not too.
- Gold/ Silver – I just fancied some!
- Premium Bonds – I’ve won £75 in 2 years…. Not sure what the ROI is, but it fulfills my gambling desires.
- Crypto – it’s probably a bit more, nearer £9.5K but who knows, most of that’s in Steem, the real value of which may now be 0!
This doesn't feel like that much money....
Because my earning potential is possibly going to drop if I do the crazy-plan of moving to an eco-village, this doesn't feel like a lot of money to draw down on until my Teacher's Pension kicks in when I'm 60, if it kicks in then, it's possible it could change!
IF my wealth remains stable, I could draw down about £3-4000 a year to live off for the next 13 years, which is how long I've got to retire. I've factored in the spending I need to do to 'transition' into that.
Ideally I'll draw down nothing, I'm hoping to live on as little money as possible going forwards into 2021 and beyond, so that my relatively small blogging income (from my other blog) can sustain me over the next decade or so.
We'll see how it goes, at least now I've got a base post to evaluate from...