Fantastic video as usual Matt, I'm currently living at home in London paying £200 per month, but soon to move out where my rent would rise to £700 per month which rings alarm bells, but I feel like I don't have much choice as I can't live at home forever. Watching these videos reminds me that I need to increase my income via multiple income streams to be able to invest in the stock market as consistently as I do now.
That would be my dream to pay £200 a month haha! I think that's it, keep trying to bump up the income sources, I'm quite surprised how well it's worked just in the past 12 months of really working hard on them. Even if you have a decent deposit for a small flat somewhere, then definitely think about a lodger!
I am looking for an investment property in the UK. I have experience i the German market but not in the UK. Your videos are great for me starting out in the UK market.
Youre in the UK, why keep talking about dollars? Also how do you get around the 2nd home stamp duty if you have buy to let? This is a huge tax burden before you've started buy to let. Not sure you can get around having a limited company either.
I have a US/UK audience on YT so cater for both :) I purchase via a limited company so naturally pay the 3% surcharge. It's just factored into the numbers when buying, the property I'm buying at the moment is under the stamp duty threshold so I just pay a flat 3% on it.
It's known as a SICAV which is essentially like a mutual fund. I do it through UK Fidelity, when I buy & sell it takes about a day so it's not realtime like an ETF. It's like a group of stocks in a fund. Hard to describe haha!
Could you make a video on this topic focusing on people that have just 1 job and no interests in side hustles? I want to build wealth but don't want to be actively working more than I already do on my 9 to 5. How can one build wealth living a typical life, not being an entrepreneur? Thanks for sharing your knowledge!
Yeah I was thinking the same thing. But in answer to your question, I increased my salary by changing jobs about every 2-3 years. With every job I received a pay increase. Depending on the field you're in, look for companies that pay annual bonuses too, so maybe the Banking & Finance industry, Oil & Gas etc. Those types of companies also offer good benefits which saves you paying for them yourself (however they will be taxable).
I checked out once he said he saves £2K, his mortgage and bills were £1.8K, and sets aside £600 for spending... the average salary in the UK is £36K, no one can save £2K per month!
2k saving excludes pension, so that's cash from leftover salary and online streams of income that I bundle up into Fidelity to invest every month. Would be about £3100 if I included pension contributions
I’ve got 100 k available from Parents to clear off my mortgage and to be mortgaged free . Would you recommande to use that available cash to pay off then use a secured mortgage to buy a second one? Or use it as a deposit for the second mortgage to purchase second property .
Personally. I would keep paying the mortgage on the current and use the cash to buy additional properties. Otherwise if I paid off the entire mortgage I’d be tying up all that cash when it could be working harder in multiple properties
Are you looking to save as part of the F.I.R.E movement?
Step 1: Have a good income.
Fantastic video as usual Matt, I'm currently living at home in London paying £200 per month, but soon to move out where my rent would rise to £700 per month which rings alarm bells, but I feel like I don't have much choice as I can't live at home forever. Watching these videos reminds me that I need to increase my income via multiple income streams to be able to invest in the stock market as consistently as I do now.
That would be my dream to pay £200 a month haha! I think that's it, keep trying to bump up the income sources, I'm quite surprised how well it's worked just in the past 12 months of really working hard on them.
Even if you have a decent deposit for a small flat somewhere, then definitely think about a lodger!
Don't move out if at all possible
Fantastic tips and solid advice. Thanks
I am looking for an investment property in the UK. I have experience i the German market but not in the UK. Your videos are great for me starting out in the UK market.
Youre in the UK, why keep talking about dollars? Also how do you get around the 2nd home stamp duty if you have buy to let? This is a huge tax burden before you've started buy to let. Not sure you can get around having a limited company either.
I have a US/UK audience on YT so cater for both :) I purchase via a limited company so naturally pay the 3% surcharge. It's just factored into the numbers when buying, the property I'm buying at the moment is under the stamp duty threshold so I just pay a flat 3% on it.
Hi Matt, where do you place your money in the stock market, individual stocks or ETFs?
It's known as a SICAV which is essentially like a mutual fund. I do it through UK Fidelity, when I buy & sell it takes about a day so it's not realtime like an ETF. It's like a group of stocks in a fund. Hard to describe haha!
Could you make a video on this topic focusing on people that have just 1 job and no interests in side hustles? I want to build wealth but don't want to be actively working more than I already do on my 9 to 5. How can one build wealth living a typical life, not being an entrepreneur?
Thanks for sharing your knowledge!
He can't because it's not possible to save huge amount. All you can do is the usual budgeting and tracking of your expenses.
Dont stay at a job for more than you need, go for higher paying jobs then save more of that
Yeah I was thinking the same thing. But in answer to your question, I increased my salary by changing jobs about every 2-3 years. With every job I received a pay increase. Depending on the field you're in, look for companies that pay annual bonuses too, so maybe the Banking & Finance industry, Oil & Gas etc. Those types of companies also offer good benefits which saves you paying for them yourself (however they will be taxable).
He was able to do that. Probably because he doesn't have a wife. That's the secret. Just kidding. LOL
🤣🤣🤣🤣
Really great videos. Well done. I'm a similar age and doing well but properly starting my journey now. You're great inspiration 😊
I checked out once he said he saves £2K, his mortgage and bills were £1.8K, and sets aside £600 for spending... the average salary in the UK is £36K, no one can save £2K per month!
You got a mental pension deal from your employer!
I love the idea of living off one income!
Definitely helps to stop lifestyle creep 😊
Thank you so much
Is your 2k per month saving including your pension + your employer contribution?
2k saving excludes pension, so that's cash from leftover salary and online streams of income that I bundle up into Fidelity to invest every month. Would be about £3100 if I included pension contributions
I’ve got 100 k available from Parents to clear off my mortgage and to be mortgaged free .
Would you recommande to use that available cash to pay off then use a secured mortgage to buy a second one?
Or use it as a deposit for the second mortgage to purchase second property .
Personally. I would keep paying the mortgage on the current and use the cash to buy additional properties. Otherwise if I paid off the entire mortgage I’d be tying up all that cash when it could be working harder in multiple properties
@@MattBrighton thank you so much for your reply…. Your videos are also very helpful. Thank you .
Amazing video.