For me it’s all about delaying gratification, compound interest and discipline. I like property and Vanguard stocks and shares ISA. Aim to match your income with passive income then carry on working if you like to carry on building your wealth.
At age 18 years old I inherited money from my great aunt that lived in Hong Kong. My mother told me she and her husband had been investment bankers that were millionaires. She gave me and my sister 50,000 UK pounds. I bought a grade 2 listed cottage in Kent. My sister bought a studio flat in Surrey. Seeing this I so wish that I had began a pension then. Yet I was made redundant from my job so I took a year out to see the world and let out my cottage. I am now 47 years later and I only began my pension last May. I paid off my mortgage in 2017. I wish to start investing. All regular saving accounts have lower interest. With two of these earning 90 pounds a year requires 300 and 250 a month for one year. After the year is over it is challenging to find a high interest savings plan to put it into.
Anybody else watching this video in 2020? Love it! What you said about breaking down goals is the real KEY!!! It's the reason why I talk so much about HOW to goal set on my channel. I even recently posted an entire video about reverse engineering which is the ultimate way to break down big goals, make them more achievable and ultimately, hit your goals faster.
I had the same question about investing for children. Plus it would be great if you explained the rule that you can save about £4000 a year tax free for children as long as it doesn't make over £100 in interest per year. Also about how you prove people other than you i.e grandparents have given them money x
This is a great video. I wish I found that out at 18 years old. It was in the days when the Internet didn't exist. I am thinking of getting a Vanguard stocks and shares ISA. I am not sure how to get passive incomes.
14:40 "It's the life that you want to create that will give you the most happiness" - Jennifer Mamafurfur The most brilliant advice anyone could have ever given me and I couldn't agree more😊💗
Thanks MamaFurFur! I would love a nutty gritty video on the literal steps of investing (so not the concept of it, but watching physically how you go on line and invest) ... this is the only thing stopping me! X
Hi Nikki - I would have a look at my "How to open an Investment ISA tutorial" as a first step. I show you step by step how to do it there. Have a look and let me know if that helps :O) Thanks so much for watching and commenting xx
Thank you for this video and for all the others on your channel as well! It's so refreshing to finally see advice tailored to UK residents. Love the way you explain concepts that can, at times, be challenging to grasp. Much appreciated!
Hi Mamafurfur i'm closer to the 25 age group and i wanted to clarify you see you when you said investing £200 a month with stocks and shares that can pontentially give 9.8 interest rate did you mean would that be only for just one index fund or multiple index funds and also would this mean saving for approximately 40 years ? .... BTW I love your channel name :)
Mya Sweet you can work out how much you need to invest each month by how much you’re trying to make. The more you invest now the less you have to invest in the future because of the power of compound interest. Also if investing in a stocks and shares ISA is tax free.
Don’t take this is gospel. But She previously has said she done a little bit into vanguard life strategy 100% and S&p 500 . Im 26 & I personally do £100 per month into Life strategy and £100 s&p 500 (£200 total) I’ve done this for 2 months and made £14 :) hopefully at 56 I can cash out or maybe diversify or dividends later depending on returns. Any questions let me know? But I’m not a financial advisor of course
Love this video. The more I watch, the more I understand the stock market and having actual number examples is a real motivator for me. I'd love to see a video on a version on the baby steps for UK'ers. I.e. When we get to baby step 4 and we come on to investing. Where do we start? Workplace pension / LISA / Stocks and Shares ISA / SIPP etc. Great content as always
What do you intent to do with your stocks and shares isa with vanguard, can you dip into it like a bank account regularly or is it when you get to a certain age you’ll take the lump sum?
Can you use vanguard in Ireland. What's the best way to avail of compound interest? Index funds ETFs or dividends. Looking to set up something I won't touch for 25- 30 years. Thanks
Great question - so you can actually open Pensions for them from birth, and also there are Junior Stocks and Share ISAs which you hold the money until they are age 18yrs then can swap to a normal Adult ISA or allow them to withdraw the amount in full. Hoping to make a video soon about the options and hope this helps :)
Great question - so completely agree most calculations use 4% as a very good estimate given that it really depends on what funds you choose. I used 9% as that was the S&P500 YoY average the past 100 years as an example
I smiled so hard at the end of the video as I have just turned 18. Wanting to invest £100 (as you said) Thinking of using Vanguard Index funds however I am unsure of how the pandemic has effected this investment option. Also what index markets would be ideal to invest in?
Hi Andrew - no tax on the way in or taking from an Investment ISA. One of the beautiful things about it, but obviously what you put it is Post-Tax money anyway
Hi Bryce - thanks for your comment - time to change our finances then for sure, and I would stay start to look for ways to get more skills that could get you on the job market whilst also looking at skills you can begin selling online. Always possible to create an income from home with the internet, so take one small step each day to work towards that. New skills need to be learnt if we want a new outcome
CASH Isa interest rates really depend on what you select and how long you wish to lock away the money for (perhaps instant access, 1 year or 5 years). Typically between 0.1% to 3-5% might be possible - but you need to check out the avaiable cash ISAs based on your requirements for the money
For me it’s all about delaying gratification, compound interest and discipline. I like property and Vanguard stocks and shares ISA. Aim to match your income with passive income then carry on working if you like to carry on building your wealth.
Absolutely spot on with that advice - thanks for watching and a great comment!
Anyone definitely can become a millionaire! Great video as always, thanks for sharing!
Hi there, please can I ask what do you do for your passive income? What is your passive income source? Thankyou
At age 18 years old I inherited money from my great aunt that lived in Hong Kong. My mother told me she and her husband had been investment bankers that were millionaires. She gave me and my sister 50,000 UK pounds. I bought a grade 2 listed cottage in Kent. My sister bought a studio flat in Surrey. Seeing this I so wish that I had began a pension then. Yet I was made redundant from my job so I took a year out to see the world and let out my cottage. I am now 47 years later and I only began my pension last May. I paid off my mortgage in 2017. I wish to start investing. All regular saving accounts have lower interest. With two of these earning 90 pounds a year requires 300 and 250 a month for one year. After the year is over it is challenging to find a high interest savings plan to put it into.
Anybody else watching this video in 2020? Love it! What you said about breaking down goals is the real KEY!!! It's the reason why I talk so much about HOW to goal set on my channel. I even recently posted an entire video about reverse engineering which is the ultimate way to break down big goals, make them more achievable and ultimately, hit your goals faster.
Mummy chores to do, but can't wait to see this later. Love this channel. ☺️
Thanks for sharing your knowledge!!! You are a God send to me!!!! Please keep posting!!
Thanks so much for sharing this so clearly ! 🙏🏼
I had the same question about investing for children. Plus it would be great if you explained the rule that you can save about £4000 a year tax free for children as long as it doesn't make over £100 in interest per year. Also about how you prove people other than you i.e grandparents have given them money x
Brilliant! Sharing with my neice and nephew who are 18 and 21, it may just change their lives... 🙏
This is a great video. I wish I found that out at 18 years old. It was in the days when the Internet didn't exist. I am thinking of getting a Vanguard stocks and shares ISA. I am not sure how to get passive incomes.
Awesome videos love your contents. Just one tip about the "videos volume" it would be better if it were louder! :)
Noted and thank you for that kind comment to let me know :O)
Great video, really inspiring!! *Trading Stocks* is what I invest in and this is how i became a millionaire too.
Phil - what an honour to have you watch one of my videos and comment. Thank you for that kind comment and keep up the success too!
what is your trading straegie?
14:40 "It's the life that you want to create that will give you the most happiness" - Jennifer Mamafurfur
The most brilliant advice anyone could have ever given me and I couldn't agree more😊💗
Very kind of you
Great post. This channel has been an absolute revelation.
Thank you again for a great video, don’t always comment but I am always following
Thanks MamaFurFur! I would love a nutty gritty video on the literal steps of investing (so not the concept of it, but watching physically how you go on line and invest) ... this is the only thing stopping me! X
Hi Nikki - I would have a look at my "How to open an Investment ISA tutorial" as a first step. I show you step by step how to do it there. Have a look and let me know if that helps :O) Thanks so much for watching and commenting xx
Thank you xxx
Thank you for this video and for all the others on your channel as well! It's so refreshing to finally see advice tailored to UK residents. Love the way you explain concepts that can, at times, be challenging to grasp. Much appreciated!
totally agree!
Great video with good content which compound
interest calculator, are you using for your calculations.
Hi Mamafurfur i'm closer to the 25 age group and i wanted to clarify you see you when you said investing £200 a month with stocks and shares that can pontentially give 9.8 interest rate did you mean would that be only for just one index fund or multiple index funds and also would this mean saving for approximately 40 years ? .... BTW I love your channel name :)
Mya Sweet you can work out how much you need to invest each month by how much you’re trying to make. The more you invest now the less you have to invest in the future because of the power of compound interest. Also if investing in a stocks and shares ISA is tax free.
Don’t take this is gospel. But She previously has said she done a little bit into vanguard life strategy 100% and S&p 500 .
Im 26 & I personally do £100 per month into Life strategy and £100 s&p 500 (£200 total)
I’ve done this for 2 months and made £14 :) hopefully at 56 I can cash out or maybe diversify or dividends later depending on returns.
Any questions let me know? But I’m not a financial advisor of course
Great thanks
Is it easy for the average UK person to avoid taxes legally? There doesn't seem to be as many tax write-off's as there may be in the USA.
Love this video. The more I watch, the more I understand the stock market and having actual number examples is a real motivator for me.
I'd love to see a video on a version on the baby steps for UK'ers. I.e. When we get to baby step 4 and we come on to investing. Where do we start?
Workplace pension / LISA / Stocks and Shares ISA / SIPP etc. Great content as always
Great suggestion - I don't follow Baby Steps myself but this will be a great topic for others. Thank you for taking time to watch and comment!
This information is great, thank you very much.
Glad it was helpful!
What do you intent to do with your stocks and shares isa with vanguard, can you dip into it like a bank account regularly or is it when you get to a certain age you’ll take the lump sum?
Can you use vanguard in Ireland. What's the best way to avail of compound interest? Index funds ETFs or dividends. Looking to set up something I won't touch for 25- 30 years. Thanks
Very interesting video. Are you a millionaire? Or on track to become one?
Can I invest for my children. They are both under 3years old.
Great question - so you can actually open Pensions for them from birth, and also there are Junior Stocks and Share ISAs which you hold the money until they are age 18yrs then can swap to a normal Adult ISA or allow them to withdraw the amount in full. Hoping to make a video soon about the options and hope this helps :)
How are you getting 9% interest on index funds? I thought most predictions for calculations said it was 4%?
Great question - so completely agree most calculations use 4% as a very good estimate given that it really depends on what funds you choose. I used 9% as that was the S&P500 YoY average the past 100 years as an example
I smiled so hard at the end of the video as I have just turned 18. Wanting to invest £100 (as you said)
Thinking of using Vanguard Index funds however I am unsure of how the pandemic has effected this investment option. Also what index markets would be ideal to invest in?
Could hardly hear you. You should use a microphone pls
Newer videos have mic :)
How much do you get taxed when you withdraw your earnings from a ISA S&S savings account?
Hi Andrew - no tax on the way in or taking from an Investment ISA. One of the beautiful things about it, but obviously what you put it is Post-Tax money anyway
10% return easy with any index fund .
I need your help my bank balance is 0.00 and my cred score is poor I'm 22 I'm on benefits atm any other suggestions?
Hi Bryce - thanks for your comment - time to change our finances then for sure, and I would stay start to look for ways to get more skills that could get you on the job market whilst also looking at skills you can begin selling online. Always possible to create an income from home with the internet, so take one small step each day to work towards that. New skills need to be learnt if we want a new outcome
Love the videos, I'm 39 with £20000 to invest, what's your best advice?? Thanks..
What bank do you use to get such a good interest rate? My bank only gives me 0.05%.
No Bank will give you that. You have to invest in Stocks and Shares, ideally within a wrapper such as an ISA or SIPP
Jesus Christ you’re getting robbed, I’ve got 3 savings accounts with 2.75% 2.65% and 1%
Can you please give me somehow how much interest I would get if I save up £500/month in cash HISA? Thank yoy
CASH Isa interest rates really depend on what you select and how long you wish to lock away the money for (perhaps instant access, 1 year or 5 years). Typically between 0.1% to 3-5% might be possible - but you need to check out the avaiable cash ISAs based on your requirements for the money