Finally hit the £1m (exc house) milestone before 40
As often is the case, posting here as can't talk to friends about this.
Happy to finally hit the £1m net worth milestone at 38, was always a target of mine before 40 (well once I passed the 30 year mark and hadn't hit it), so got here a bit earlier than my second target which is great.
Split roughly:
- £250k pension
- £45k in S&S ISA
- £50k in Premium bonds
- £200k in GIA
- £200k equity total in two BTLs (may look to sell both)
- £265k in saving accounts circa 4%
This year should be getting approx £500k more NW due to some investments maturing (post tax) which should bring our family NW to around £2m exc the house... which I believe means me and my wife could FIRE (but we won't).
I've never had a wage over £50k (always ran different business/ventures/freelance dev) but selling one of my businesses is how my net worth grew substantially. 5 years ago I was around the £150k NW, could have only dreamed of being in this situation.
Things that have surprised me at hitting this milestone:
- Its certainly taken financial pressure off knowing the money is there
- I thought it'd make me feel happier (I'm happy, just thought that specific milestone would somehow make me feel next level)
- Thought I may end up wanting to stop working now but I don't and my wife is the same as she enjoys her job
Anyway, just wanted to share as no where else to share, love reading other FIREUK posts, happy to answer any questions too.