Net Worth update of 21 year old on the path to FIRE

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.

He wrote a guest post for us here, in November 19 to give his take on FIRE, and I did an update on him here, 12 months ago.

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.

 

 

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1 Response to Net Worth update of 21 year old on the path to FIRE

  1. That’s a great start. Well done. The challenge for your son will be to keep it up as his life moves on and to pay himself first, i.e. save more, as hopefully his earnings rise.

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