June 2024 Savings, plus other updates

June was a mix of work, social activities and work social activities. Oh and watching lots of football on tv (and not always enjoying it, in the case of England!)

I also celebrated my birthday this month – another year older, maybe or maybe not another year wiser!

I still don’t feel my age, although the occasional thing does make me consider how ancient old I’ve somehow become:

  • Attending a colleague’s (the bride’s) wedding and finding out that I’m older than her mother by a number of years;
  • Watching the youngsters knocking back their free drinks at work’s summer party, whilst I nursed my second pint and sloped off early, my thoughts on how I needed to function the following work day without a hangover/late night;
  • Overhearing a colleague sitting behind me ask her neighbour, “What’s a fax machine?” I felt compelled to explain to her and felt so old as I quipped “It’s how we sent documents before the internet…”.
  • Finally being able to draw down on my SIPP – I won’t yet, of course!

For my birthday, I had a day out at the races (Haydock) with friends, which was followed by a Pete Tong Presents Ibiza Classics gig. Not sure that was a mix which really worked that well, but it was a fun day/night out nonetheless.

I had some family stay with me this month, and we had a day trip to North Wales. Weather was beautiful for a bit of walking.

Cup and Saucer Waterfall, in Erddig, North Wales.

Anyway, halfway through the year already, how did my numbers look for June?

I saved 15.8% of my net salary. The above includes £40.63 from doing Prolific surveys, £5 charity lotto win and the £100 which Nationwide Building Society paid out to all its members.

Shares and Investment Trusts

I just topped up existing ones, no new investments, aside from an addition to my One Share Portfolio where I bought 1 share (using the above-mentioned Nationwide payout) in Novo Nordisk – I can’t ever see me needing to take a fat-busting drug but seems a lot of people do so for a variety of reasons, so now I got a bit of skin in that game!

This month, I also ditched my single share in Starbucks and jumped back on the Nvidia bandwagon. I had intended to only have 10 shares in this fun portfolio, yet now I have 11 – might just have to make it a sweet dirty dozen at some point…thinking about it!

Current share/IT portfolio can be found here.

(Entire portfolio here)

Future Fund 

The rocket continues its upwards journey! At the end of the month, my Future Fund was up, at £272,964.64.

Dividends and Other Income

A record-breaking month (for me) for dividend income:


I received £1,150.97, of which £515.84 was from my ISAs, the rest from my SIPPs. First time I’ve breached the £1k monthly mark! All dividends were reinvested.

Here’s what my ISA dividend income graph looks like:

Six months in and things are on track with my dividend income goal.

Goals Update

What about the other goals?

Live sport on tv is impacting my reading goal but that’s ok. The summer of sport will be over at some point…after the Olympics! I love it all!

Hope you all had a good June!

12 thoughts on “June 2024 Savings, plus other updates

  1. Great to read this – hopefully you celebrated the win on the other night but without a hangover.

    Congratulations on getting over £1,000 in dividends in a month. Quite an achievement (nut hopefully it’ll become a regular occurence).

    On accessing the SIPP – you might need to do some good research into drawdown strategies. But plundering it now to take advantage of the 25%tfls and recycling into your ISA to take your taxable income to a smidgen below the 40%band might be a strategy worth employing.
    If you have BTL income though…
    But you arealways on the right track – so I’m sure your know your onions

    • I’m pretty sure raiding your SIPP for the 25% tax free allowance will seriously restrict your options for further payments into the SIPP. Then again, who knows what’s on the horizon with the new Government in Downing Street; it would be nice to have a bit of boring consistency for a few years in how pensions work! As always- do your own research

      • Hi Felice

        If I take the tax free 25% cash sum only, this will have no impact on further payments into the SIPP. It’s only if I take the non-tax free bit as income, do the restrictions come in.

        But like you say, who knows what is on the horizon – I would hope that no changes are imposed by the government but will certainly do a review/research in case of any change.

    • Thanks GFF, I celebrated with a couple of beers! 🙂

      On accessing my SIPP – I have two providers and I have gone so far as looking at what their options are regarding drawdown and I see that I will need to transfer one of them at some point due to limited choice. I don’t intend to have BTL income when I retire, but this will depend on whether I can sell the property or not (I want to). Anyway, thanks for your continued support!

  2. I agree with GFF – at least give some consideration to taking the 25% TFLS* (simply because you’re now eligible), even if you don’t actually act at all at this point. The options are currently very flexible and for some who are trying to be tax efficient it may make sense, although i don’t believe the government are likely to drastically alter the rules in the near future so there’s hopefully no need for eligible individuals to panic.
    For me, i saw little chance of them increasing the maximum TFLS anytime soon, and with the value of the capped figure being slowly eroded away by inflation it made sense to me to take it, park it in a gilt ladder and then drip-feed into the ISA over the coming years. Or alternatively, buy the obligatory bright red Lambo if the mid-life crisis arrives!

    * note – solely taking the 25% TFLS and putting the remaining 75% into a drawdown pot wouldn’t restrict you on any future contributions into your SIPP. So, you can carry on working and paying into the SIPP as before. It’s only if you start to take an ‘income’ from the drawdown pot that would then limit you on any future contributions into the SIPP.
    For someone who’s newly retired and not planning on returning to work, the thought that drawing an income from the SIPP would significantly reduce the eligible amount i’d be able to pay into a SIPP in the future were I to work again, does have me procrastinating for now. I want to keep options as open as possible, even if that means not being as tax efficient with personal allowances etc for one or two years.

    And well done on the £1k monthly milestone. It’s good to know you’ve got your beer expense covered for future June’s now!

    • Hey KC

      Yes, I will be considering my options on the 25% TFLS and thanks for confirming that just taking that cash won’t restrict future contributions as long as I don’t turn the remaining 75%. Understand your uncertainty and wanting to keep options open for the future (including for that bright red Lambo 🙂 )

      I’m tempted to take it out to park most of it in a cash ISA, to start building my cash buffer, which is totally miniscule and inadequate right now.

      I shall do some research and dive into my spreadsheets, cheers!

  3. Always interested to read your updates; well done on the dividends, and congratulations on the birthday!

    By virtue of your pension reference, I can conclude I am the same age as you, so hope you won’t mind me asking those who have suggested it why there is any advantage to be had in drawing a TFLS now, as opposed to waiting (say) 10 years. The only ones I can see are avoiding any possible rule changes, or if one needs tax free income from an ISA.

    • Thanks Martin.

      For me, drawing a TFLS now is to be able to park it in my ISA for flexibility. I have two SIPPs so I would probably only do this for one of them, see how that goes etc.

  4. Thanks Weenie – clearly I need to dig out my pension references. At the ripe ole age of 58, I was planning to withdraw an amount equal to the personal tax allowance (i.e. £12,570 per annum), even though I don’t need it yet, to re-invest in an ISA, but on the face of it, I’d be a fool not to withdraw my 25% TFLS first; the prospect of withdrawing the TFLS plus the annual tax allowance until state retirement age (67 and a bit) and not paying a penny of tax seems too good to be true – even if I’m limited to not making any further payments into the pension (possibly with the exception of the non tax earner contribution of £2880 net). No doubt the new government will fiddle this somewhere along the line 🙁

    • Hi Felice

      Agree with you, there does seem to be an element of ‘too good to be true’ about withdrawing the TFLS + annual allowance tax free until SRA at 67. I’d like to think that any fiddling from the government will likely affect the ones after us, not that I wish it upon them but better them, than us!

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