Becoming Wealthy May Be Simpler Than You Think
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- Опубліковано 8 гру 2023
- This week I want to talk to you about is how becoming a millionaire might be easier than you think.
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I think the problem is that most 18 year olds think retirement age is hundreds of years away, it’s all about the here & now, this stops a lot of younger people investing early on, it’s only when you get to middle age you realise it comes very quickly!
That’s true Nabila. I was guilty of that too. I also hoped/expected to make a million long before now
I agree, It's the small changes over time make a big difference, the problem is at 18, I wouldn't have cared about my older self, there would have been loads of time from my view, 50 years is so far away until now and it's 5 years away, what happened to all that time where I could have put a bit away each month and be a millionaire in 5 years😵
So true Chris. Wish I was wiser younger
Great as always.
Has 'her indoors', banished you to the spare room? 😂
The passage way actually Vince 😂
Didn't know you're writing a book. Look forward to reading it.
Thank you. I think it’s unique, but I’ll let the market decide mate
Spot on mate. Smashing the nail on the head again. Keep it up 🤘🌱
Thank you my friend
Thing is I work a far bit but tax man smashes me on the tax I am now thinking of continuing my current job but but at the same time look for something else as well as that I am thinking of becoming a cabbie myself.
Me too mate.
My tax bill will be around £4K (accountant is just finalising the figures). It would have been £6.5k had I not had £2.5k on account from the previous year.
I’m beginning to reduce my earned income by working less, as my unearned income increases, just to reduce the tax burden.
@@StupidIsTheNorm I am not the brightest of lads but when am earn£2.2k after tax and that is with 60 hours overtime a month and the tax man is hitting me hard with £500 some months £500+ it's like that 60 hour overtime I do taxman takes.
Anyway me and my wife we have come up with a plan to save 17k plus this year to "try" get onto the property ladder.
I would like to gradually buy two properties every year now until I have 25 propries.
Idea is to not get rich but be financially free.
Both of us don't have to work we can spend time with our you boys and invest more time and money into what they want to do.
@lion-mv2li so making £46kish?
A great goal.
You’re going to need £25-30k per property to cover all acquisition costs. This needs to be built into your figures.
It’s a plan that has been used to great success many times mate. I hope it works well for you. Let me know if I can help
@@StupidIsTheNormthank you
@lion-mv2li anytime mate
Thanks Perry, Is this the route you'd take if you started again at 18 knowing what you know now? Or still go down the property route etc to accelerate it? 👍
The biggest difference would be I would have first invested a years expenses into my stocks and shares ISA. I dangerously go from £30-40k in the bank to nothing when I buy a property
Play lottery
Yep. 14 million to 1. Good luck with that 😂
‘Stop buying Shite’ is the best advice anyone can take. Can you please gave a word with my wife Perry!?
Haha. Mines the same. She bought an ornament and said ‘I knew you wouldn’t notice!’ I said ‘what? That new piece of tat on the fireplace?’ 😂