11/12/2020
CLOSE YOUR EYES RIGHT NOW AND GUESS THE TIME (hour, minute and seconds)? Did you get it? If you didn’t don’t worry, you are part of the real world.
If you did guess the time right, congratulations! How do you feel right now?
Don’t lie you feel like a genius innit! Almost like all the planets aligned and the universe tilted just the right amount of dark matter towards your mind to correctly guess the time to the second correctly!
Don’t worry you are still part of the real world!
Why am I saying all this? As I mentioned I gave dad 10k back of the 40K I would like to pay him and while he was very reluctant to accept I managed to convince him to take it.
A couple of days later something came into his head that made him say “Abhi that 10k you gave me, why do you invest that for me?”
That’s right! I’ve actually gone from an individual investor to a FUND MANAGER NOW lolololol!
So guess what? I set up a stocks and shares ISA for Dad and sent off the necessary paperwork.
Weirdly enough I thought my fathers portfolio would potentially require a lot more thought and I would have to research different funds blah blah blah.
But hopefully with the blessings of the universe I hope my father will be about for the next ten years, which really means his portfolio doesn’t need to be any different to mine!
This also highlights that my portfolio is really well set up, because it’s a nice balance between risk, yield and safety (if such a word even exists when we talk about the stock market).
So using a dollar cost averaging method I chucked a significant amount of money into his fund.
I spent the best part of the next few days explaining to dad about how his money will fluctuate and the “markets are really volatile at the moment”. I genuinely don’t think dad really cared about what I had to say and then guess what happens?
Literally one week after I put the money into his fund……. The vaccine gets announced!
The value of his fund jumps 5% ! A whole 4% higher than my own !
I haven’t stopped saying “Dad you timed the market, you’re a genius”.
Clearly he isn’t and neither am I.
Just when I quit this job hindsight will always make you feel like that was the “perfect” time but it wasn’t the right time, it was just time.
You see timing is EVERYTHING but means NOTHING!!!!
Being right is cool but being right for all the wrong reasons, gives you no reason to bang on about it!
Right net worth time let’s go!
Debt + Liabilities
£161,455 (Mortgage on the flat)
£30,000 (Dad) (25% REDUCTION IN DEBT WOOOOOOOOOoooooooooooooo)
Total = £-191,455 (FIRST TIME THIS HAS CHANGED IN 2 YEARS!!!!!!!)
Assets
Positive Assets
Cash = £5,610.75 (Liquid)
Stocks and Share ISA = £49,338.85(Liquid)
Gold – £4,257.30 (Liquid)
Tesco Shares Value -£23,644.47 (Not liquid)
Art = £ 3029
Total = £85,880.37
Actual Net Worth = £ – -109,364.11 @ 13/11/2020
Actual Net Worth = £ – -105,574.63 @ 11/12/2020
A really healthy 3.46% increase, but a NO deal Brexit looms so I’m expecting some big shocks in the near future but “such as life odd as egg McMuffins at night”.
I might drop a “how Brexit will affect my portfolio post” when the announcement is made, check y’all on the flip side.