Monthly Update – Aug 23

Image by tigerlily713 from Pixabay

I have had quite a busy month and tried to make the most of the sunny days. I managed to do the minimum mileage required for the first service on my motorbike. I took it to the dealer to get some nice new oil and have the tappets checked. All part of the running in process for the bike.

My bike is a Royal Enfield and just love riding it, Its fun and sounds great.

Image from Royal Enfield

I took it out for a good ride a few days after the service and ended up giving it such a shake down that an electronic sensor failed. Ouch! Good job it is under warranty. I called the dealer on my return and arranged for them to check it. They agreed the sensor would need to be replaced under warranty.

I am just waiting for them to call me when the part is in so I can get it swapped out. I am not sure how long this will take, its been nearly a month now, I guess as the bike is ridable it is not as urgent on the warranty listings.

Meanwhile I have been out to music festivals and generally enjoying the last of the summer days, try to avoid the worst of the rain. It feels like I am starting to do some of the things I wanted to do when I achieved FI. Being able to go places and explore. Able to flex my days and go when the weather was good and not have to worry about work getting in the way.

I do worry that I haven’t enough in my FI fund to continue to live like this. The cost of living and the huge inflation hit to average UK retirement income forecasts mean that I will be classed as living on the minimum retirement income in a few years. Not a good sign really. I do not have a full state pension and I am waiting to see what happens to my DB scheme as the old employer is moving it to a pension company and I could end up getting less than it was originally going to provide as an annual pension. Pretty bad that they can do this – wash their hands of the DB pension and give it to a pension company to run.

I am now able to access my SIPP if I want to. I am trying to refrain for another few years and will let it grow. At least I know it is there to draw from if I need it. I have been getting emails from the SIPP provider saying how to access it and how to get advice. I will continue to try and live within my passive income and draw down my cash buffer and then look to draw on the SIPP later. If things get tough I may have to get a job but I really don’t feel capable. My brain fog gets in the way some days and I find I just cannot function like I use to. I am trying to just get along as I am and if I have a bad day then I just write it off and rearrange my plans. I just enjoy the flexibility.

While I have the health I want to spend my time getting out and exploring and doing some of the things I have not been able to do before – either due to work and/or time constraints. I want some “Me Time” rather than being restricted by employment. I read a few other FIRE blogs where they are doing the same getting out and enjoying their time doing things that they enjoy and exploring. It is good for your mental health. It is just a shame that the costs are rising and at some point it will be hard to do these things. Especially as the UK prices seem to be rising and making tourist visiting too expensive. The elephant in the room – the UK is a very expensive place to live and visit. Even the Scandinavian tourist I have met say how expensive it is here.

I have seen some of the news but trying to avoid it. The ULEZ scheme in London is just a money making scheme IMO. If this appears all around the country they will cripple places. It is not really easing the air pollution. I already see the 20mph town speed limits and the shops closing and buildings now being converted into residential flats. How is that going to work long term? People live in the towns with all the work and retail outside town. The town shops I have seen being converted have no parking so the tenants/owners will have nowhere to keep a car unless they buy season tickets to use town council car parks. Is that the plan? Or is it part of a long term plan to make everyone call a self-driving car. Everything will be subscription and the Great Reset starts to become real life.

I will ignore the news as it is depressing. It just seems to be full of spin and distraction/deflection news. I will go and enjoy what is left of the good weather and try to find better things to do and keep smiling.

Income

A little bit of paid survey income, I have been out and about so have not spent much time on this. I also received some dividends, one of the largest paying months so that covers my expenses for this month. The interest from cash accounts continues to increase as the UK interest rates go up again, which is helpful. I also won £100 on premium bonds. It’s about time I won a large prize, £10k+ would be fantastic. At the moment, my annual passive income is covering my annual expenses – with the exception of the motorbike – which I am excluding from the baseline budget..

Expenses

Just my normal living expenses and some extra spent on social activities and travelling around on my motorbike. I am reaping the rewards of my home grown tomatoes and salad veg. I have renewed my house insurance too, no real difference in cost this year. I just wonder what my car insurance will be like later this year.

Month End Summary

I have been making the most of any dry day. I have been to a few music festivals and generally out and about while avoid the family crowds. I will be glad when the schools go back.

Overall, a good month for me, I have been feeling positive and energized. I trying to keep to my budget and enjoying adventures out and widening my travels.

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