Our first child of 6, FU#1, has been on his own path to FIRE for a while now, so I’ll do a quick update on his progress.
I’ll briefly recap his journey and reveal his current net worth.
FU#1 is currently in his first year of a full time job after doing a 3 year apprenticeship with the same company.
He is still enjoying his job and recently got a pay rise, and he is still improving his skills at work.
He has been saving 50% of his net earnings into a LISA and an ISA. Although he has a SIPP pension he doesn’t currently contribute to it as he is enrolled in his company’s AE pension.
Current Net worth £15,512
LISA £11,665, ISA £2,535, AE pension £1,030, SIPP £281
So he is doing pretty well and is on track with the original figures I projected on a spreadsheet for him.
Keep it up FU#1, you are doing great.