I have just updated my FI target. Last Year (Aug 2015) I was 93% there, I had nearly reached my goal and I was actually not working at the time.
Since my break and seeing my FI pot deplete, I went back into the workplace and joined the working drones in Jan this year. I have been investing and saving since I started receiving a salary again.I am maintaining my 60%+ monthly saving rate.
I have seen my FI pot target start to drift away from me. Based on my current targets and actual values I am now 80% away from FI, I am going backwards at the moment (-13%) due to the drop in investment values and my net worth as a consequence. A terrible feeling at the moment, I will keep going and keep saving hard but it just feels like a long and winding hill with no summit in sight. I turn each corner, am I there yet – no – will the next corner be the last? When will I see the summit in view, it teases me with small glimpses that disappear as soon as they flash into view.
The start of a new tax year and the changes are starting to show. My savings account interest is now being paid gross. I have also noticed the changes to my investment accounts starting to take effect. I now have to pay a service fee for my accounts both my ISA and share accounts. I will not be able to tell until the end of this year how this change has affected their growth.
One thing that is getting annoying is the downward trend on my investment and share accounts. My net worth has crashed by 9% compared with this time last year and it is going downwards by the day regardless of my investment activity; it feels like I am just putting the money down a drain. I do keep investing but the downward trend is off putting and makes you waver in your view that investing is a good idea. Since January, I have seen my net worth drop every month even though I am saving and reducing my expenses. It becomes demoralising and I just need to keep going and ignore the nagging voice that wonders why I am doing this. I feel like I am treading water but still slowly sinking.
I just need to keep going, earning the salary and keep focused on the future. My pension pot is growing well due to the employer contributions and I have a salary now to save. I am glad I took my work break last year as I had a reasonable passive income to use.
The traumas in my working world continues 🙂 . I am not stressed like I was in my last job but I don’t like the office politics in the new one. Under instruction of my boss, I have to ‘play the game’ with the senior managers and selectively tell them things. While the boss does some ‘office politics’ to keep things ticking over in the background. There is a strange environment there and now that they have been bought by another company, the ‘parent’ is starting to arrive and probe their workings. I hope this doesn’t go the same way as a previous job but I cannot foretell how it will pan out for these guys. Changes are a-foot and they do need to change or they will not prosper over the long term. It feels like this new job has provided me with some kind of ‘poison chalice’ role. I could have refused the job but I would have continued to struggle finding any kind of local work and getting a salary is better than none as I need to improve my net worth as I am not free from the shackles yet. I just need to keep my head down, work and collect the salary.
Let’s see how next month affects my net worth figures.