It is a year since I updated the net worth of our son FU#1, so below are the figures up to April ’22.
FU#1 is still in the same job since the last update and he recently had a pay rise before Christmas. He continues to work from home and has just started to go into the office for one day a week from now on. He likes his job but he is going to ask for another pay rise soon as similar roles elsewhere pay more.
It is now 4 years since I put a plan in place for his FIRE journey, which seems unreal!
His figures are pretty much in line or a little bit above the spreadsheet projections I made at the beginning.
Fire Plan
He continues to follow the strategy of investing 50% of his net income in S&S LISAs and ISAs.
Work pension contributions are at the minimum rates (no further employer matching available) and no further contributions have been made to his SIPP.
Net Worth – £53,190
April ’22 Net Worth £53,190 – LISA £27,803, ISA/Cash £20,290, AE pen £2,543, SIPP £2,554
April ’21 Net Worth £33,168 – LISA £20,871, ISA/Cash £9,988, AE pen TBA, SIPP £2,309
Sept ’20 Net worth £22,633 – LISA £15,794, ISA £4,716, AE pen £1,846, SIPP £277
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
Net worth is up over £20k in a year, with the S&S LISA and ISA continuing to perform well.
We may start to look to get him onto the property ladder in the near future as his LISA is approaching £30k, we’ll see how his pay rise request goes first.