Sunday 4th July 2021
I recently posted a poll in the Limerick FI group asking what age they planned to retire. It was interesting to see that even in a group of people who were specifically looking to retire early, half planned to be at least in their 50’s before they retired.
The reality of living in Ireland, is that because ultising a pension is the most tax efficient way for us to retire and given we can’t access the money until we are in our 50's, it is likely that for most of us, early retirement in Ireland means retiring in your 50’s at the earlist.
I would have been curious to see how Irish people would approach FIRE if we had access to something like ISA in the UK.
I am still trying to work out my long term FI journey. Part of me wants to continue to work as hard as possible and make early retirement happen ASAP. The other part of me wants me to slow down and take my time. There are advantages to both approaches of course, the big advantage of going slower is that it would allow me to start working less from today!
But for now, I will continue working as hard as I can, while I have the motivation.
Two houses have recently sold in the same estate as our buy to let investment property for significantly more than what it has been valued for in my portfolio. The last time the property was valued was 12 months ago, so I decided it was time to update the market value of the property. I have conservatively valued the property at €240,000 - it is likely it would sell for more than this, but this at least accounts for the amount I would get after the legal fees and auctioneers expenses. This has been reflected in the portfolio report below.
I also made the decision to write off the remaining Peer to Peer investments. There was around €1,150 left, however it is unlikely I will receive the bulk of this investment back - so it made sense to finally write this off and remove it from my portfolio.
Let’s jump over to the numbers for June:
|Portfolio Summary (as at 30th June 2021)|
|Monthly Portfolio Growth Report|
|Capital Gain + Dividend Income from Equities||€3,220.74|
|Real Estate Income + Equity Gain from Revaluation||€16,634.14|
|Peer to Peer Lending Write Off||-€1,153.01|
The table below shows the breakdown of my portfolio into the various asset classes:
|Portfolio Asset Breakdown (as at 30th June 2021)|