21 year old – Net Worth and FIRE plan update

Our 21 year old son, FU#1, has been on his Fire journey for the last 3 years.

I last updated his figures in February ’20 here, so let’s check in on his progress.

Fire Plan

Current Target – £650k by age 40 to be able to withdraw £26k/year @ 4%SWR

Strategy – Save 50% of net income. Max out S&S LISA each year @ £4k, Remainder of 50% into S&S ISA. No longer contributing to SIPP as contributing to AE works pension.

Current Investment Vehicles- S&S LISA, ISA, SIPP, Auto-enrolment works pension.

Funds invested in – Vanguard US Equity Index.

 

June ’20 Net worth £18,034 – LISA  £12,814,  ISA £3,591, AE pen £1,367, SIPP £262

Feb ’20  Net worth  £15,512 – LISA  £11,665,  ISA £2,535, AE pension £1,030, SIPP £281

 

Even though the markets have dropped back again in the last few days FU#1’s net worth is £2.5k up on February, and his stock investments remain in positive territory.

 

Let’s hope his job is safe after Furlough leave ends so he can continue to make contributions and progress towards FIRE.

 

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1 Response to 21 year old – Net Worth and FIRE plan update

  1. Pingback: The Full English Accompaniment – Gamble your COVID days away – The FIRE Shrink

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