Hey everyone, hope you are all doing well in this altered world we are currently living in… And please, continue to keep safe!
I thought it was about time I did a Project 2235 update as it’s a couple months over due for sure :D. I plan to fill you in on what I have been up to over the last few months and of course provide a financial update to see if I am still on track to complete the 3 year 2235 plan.
So just to remind everyone, back in November last year I put forward a plan called Operation 2235. In summary, the plan entailed the following:
- Reach a portfolio of £250,000 (Base FI) by December 2022 whilst I was still 35 years old (hence the name Operation 2235)
- Achieved by investing £1500 a month over 3 years (£54,000 total) – With an assumed fair sail wind of 5% (2% real interest minus inflation)
- Do the above without depriving myself whilst still being able to weather some expected unexpected outgoings
Financial Update – Sep 2020
The below figures are taken from 20th September.
- Monthly investment (April – Aug) – £1500 each month
- Savings rate (April – Aug)– 55% each month
- Investment portfolio – £182.360.08
- Cash is king fund – £10,000
- Emergency fund – £1004.29
- Big expenses / holiday fund – £2795.15
Total Liquid Funds = £196.159.52
When it comes to my financial review of the last few months. I must say I have been very pleased with how things have gone with my spending and also with the market in general. I still have doubts about the market staying as high as it is but I can’t pretend I can predict it so I won’t even try to. I will simply continue to invest every month and won’t even contemplate market timing for a split second. As with my previous update, I have managed to continue to save money on fuel with mostly working from home and also on household bills as I am now mostly living at my partners. On the flip side, I have spent more than ever on going out and gifts which has balanced this out so I am still spending to my budget very closely. This has meant that I have continued to successfully hit my target of investing £1500 every month whilst most importantly – not depriving myself.
My big expenses fund has taken a slight hammering in the last few months due mostly to a few days trips, a £300 Liverpool weekend outing (expenses included) and recently from pre-ordering the PlayStation 5 which I had to get day one…All of this of course in my humble opinion is money well spent 🙂 and is guilt free. I am finding that the amount of discretionary spending I give myself per month coupled with my big expenses fund being available, is allowing me to continue to meet my targets whilst still enjoying the here and now (no deprivation). This is so important to me but until we return to a more normal situation without Covid-19, I won’t know if this is sustainable for the next couple of years and if I will need to invest slightly less if I find I need to spend more.
Some Normality Returns…
At the time of writing this, there are talks of more national lockdown restrictions coming into affect in the UK, there may be the banning of households visiting other households, curfews at 10pm in restaurants and pubs, the closing of hospitality venues and who knows what else. For this update though, I will be talking mostly about my life during the past few months and I can definitely summarise my activities during this time as returning to some normality, a new normal so to speak. I will now go into some of what I have been getting up to.
Restaurants and Pubs…
Oh boy, it really is the simple things in life. I have really missed being able to go out with my partner or friends to restaurants and pubs. After the restrictions started to loosen on July 4th. I found myself slowly getting back to normality on weekends by being able to go down my local for a few drinks on a Friday. I was also able to go back to Wetherspoons for some nice cheap grub with a few cheap pints thrown in for good measure.
It really is a guilty pleasure of mine to go out on a Friday and or some Saturdays for a few drinks and some food. I have quickly got used to the new normal of sanitising your hands on entry and leaving, track and trace form filling in, consciously trying not to get to close to people, dividers between tables and keeping left whilst walking around. To be fair, I felt fairly safe in most places I have been, and usually people have been abiding by the rules where I have visited. I do take this Covid-19 very seriously and I like to side with getting back to a new normal whilst always being mindful that we are going through a pandemic, this must never be forgotten.