Part 49

Hello and welcome back to Mortgage Advisor on F.I.R.E.  A short post this week due to my mental health resulting in a bad case of writer’s block.  

Quote of the Week

There is a tendency for people to attribute their own success to their own ability, with their failures attributed to bad luck or circumstance.  However, when assessing the behaviour of others we have a tendency to do the opposite. 

This can be a dangerous cognitive bias when people are in difficult situations. It’s also a common problem with compulsive gamblers as they attribute successful bets to their own judgement but losing bets are put down to bad luck. 

In life it is wise to have plans in place for when things go wrong, because things will go wrong at some point.  This doesn’t make you a negative person. Having plans in place allows you to maintain a positive outlook safe in the knowledge you have a safety net. 

My safety net was my Fuck It Fund. However, with interest rates being so low it did not make sense to keep a lot of liquid cash.  This doesn’t mean I have no safety net though. I have a credit card with a substantial credit limit which currently has over 95% of the credit unused. I also have stocks that can be sold in a dire emergency.  As interest rates increase I will start to allocate resources to my Fuck It Fund, but for now it makes more sense to put as much as I can into stocks to take advantage of pound-cost-averaging. 

Weekly Update

I am still off work. My mental health is not great and I’m trying to go easy on myself. I’m taking daily walks and listening to my audiobooks. Audible is a fantastic service. Although I still enjoy reading, listening to a well-narrated audiobook is a great pleasure.

This week I have had to face facts and admit that I’m not ready to sit my next exam for the financial advisor qualification.  As such, I have postponed the exam indefinitely.  I’m simply not in the right frame of mind.  I normally look forward to writing this blog each week, but in recent weeks I’ve found it more difficult to write and this week has been the worst case of writer’s block I’ve experienced.  

At the start of the week it would have been my Grandad’s 82nd birthday.  He passed away just over two-years ago leaving behind his wife, my Grandma, who he had been married to for decades.  They had an eventful life with my Grandad serving in the Royal Navy.  They spent many years living in Malta when he was serving aboard H.M.S. Surprise.  He was a strong man, and a hard worker.  He supported a large family and after he retired, my grandparents would spend a lot of time back in Malta where they had many happy memories.  He is missed greatly by myself and the rest of the family. 

Health Update

I mentioned a few weeks ago that I’m aiming to get to 100kg by Christmas.  So far I’ve made absolutely no progress towards that goal despite stepping up my exercise.  It all comes down to diet, and unfortunately my diet at the moment is awful.  Some people turn to drink or other recreational drugs when they’re depressed or stressed.  I turn to comfort food, which in a way is just as harmful as some drugs.  If you overeat, you put on weight.  Putting on weight leads to obesity and this can lead to many serious health problems.  I know what I need to do, but I just can’t bring myself to stop snacking in the evening.

Financial Update

Premium Bonds: £20,700 (no change from last update).

Stocks and Shares ISA: £12,399.00 (up £439.54 from last update).

Fuck It Fund: £0.00 (no change from last update).

Property Value: £187,554 (no change from last update).

Total Assets: £220,653.00 (up £439.54 from last update).

Credit Card: £535.00 (down £104.06 from last update).

Residential Mortgage: £142,456.43 (down £358.26 from last update). 

Total Debts: £142,991.43 (down £462.32 from last update).

Total Wealth Figure: £77,661.57 (up £901.86 from last update). 

Investment Income in 2020: £161.36 (up £50.00 from last update) (target £2,000).

A good week with my assets increasing in value and my debts decreasing.  I think the stock market gains may be an anomaly, as I expect President Trump’s diagnosis of stupidity Covid may spook the markets.  I might be wrong, but uncertainty seldom leads to long-term gains in the market.  

I also won £50 on my Premium Bonds in October’s draw, which takes my winnings in 2020 to £150 in total.  It’s still a better return than what I would have earned in an instant access savings account considering I started the year with around £8,000 in Premium Bonds.  

Next week I will provide an update on my 2020 reading challenge and take a look back at the books I’ve finished in July, August and September.  

Final Notes

Thank you for reading and I hope you have a great week.  If you enjoy Mortgage Advisor on FIRE, please share the blog on your social media.  If you have any questions, please get in touch on Twitter (@nowwelive01) or Instagram (@david_scothern), or leave a comment on this post.

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