Hi Ken. Thanks for your time and the advice you gave to my husband on the flight. Unfortunately I was asleep so didn’t get to meet you in person. Hope you enjoyed your holiday.
You're absolutely welcome 😊. It was lovely meeting him and we didn't want to wake you up. Hopefully, we'll meet again. Yes, our holiday was lovely, thank you. Much needed rest and in need of another holiday haha 😄.
My situation is not typical as I had to take medical retirement after a life changing accident, but I had a public sector pension that I had never really thought about, never expected that I would get anything back from it as my granddad died at 65 and my nana got nothing so I had quite a poor impression of pensions, but mine came through for me. I got a lump sum to pay off my mortgage and a low but secure income for the rest of my life. I bet there are many people like I was who actually have some kind of workplace scheme that they may not be aware of. It can be a real blessing when you need it most to find out that you do.
Here in Australia, we have been told dont rely on a state pension, eventually they will stop offering it . If I meet all of my goals and plans on time, I ll be hitting the semi-retired quota which is in two and a half years...
I'm not 40, only in my 20s but I wouldn't mind retiring in 10 years... I'm tiyaddd 😂. But jokes aside, thank you for this video, Ken. So informative, glad you bumped into that guy on the plane!
God bless you and Mary for this Finance Ministry! You both give me so much HOPE! It absolutely resonated with me that our parents moved to the UK with nothing and YET they have achieved so much, I don't need to stress that I didn't start early enough, but I can be extremely intentional for the next 10 years to hit my goals! Thanks!
Hi Ken & Mary I brought your financial joy book so working through that and doing the exercises... Highly recommend the book and a financial joy plan.. Already opened Vanguard ISA and SIPP. Also have cash ISA emergency fund no debts.. I started all this in August 15th 2023 and also started paying into work pension.. Started late at 58.. I budget account for everything.. I am waiting to reduce Sim card next.. Not sure what else I can do??? Any other suggestions welcome.. My funds are in Vanguard global all cap index fund.. I also. Direct direct everything plus pay NS&i bonds only £25 monthly.. I pay myself first.. So on early parts of your book.. On average income
This is brilliant 👏🏾👏🏾. You're doing well. Keep it up. Can you please do us a favour? Take a photo of the book and kindly write us a review on Amazon. Please keep it specific and tell people what you love so far. If you can, please copy and paste your review also on Good Reads. Thank you 😊
Im currently retired, and considering the current rollercoaster nature of the stock market, I decided to stay on the sideline for awhile, now I'm worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?
Every day we have a new problem. It's the new normal. Recently, we've started talking about implosion of banks and Government bailout. At first we thought it was a crisis, but now we know it's a new normal and we have to adapt. 2023 is a year of severe economic pain all over the nation. What steps can we take to generate more income during quantitative adjustment? I can't afford my hard-earned $28O.OOOsavings to turn to dust.
I’m going to retire in Bermuda….you’re allowed to buy max 2 properties. So I’ll sell my house in London and buy a flat in London. At the moment I’m working on buying the 2 properties in Bermuda. I have one in Jamaica that I’ll sell closer to the time and I’ll cash my 25% lump sum at retirement for some of the money for the other one. I hope that makes sense….
My main career is raising and home educating my 5 children. I do rent to rent on the side and it’s a fantastic strategy to start by controlling property to then move on to owning property. Great tips!
This is great info mate..im 38 just starting a ltd company..ive worked as a sole trader doing something i didn't like for the last 15 years, so decided to try something new ...your videos are a big help 👍
I'm in my late 20's and have no savings, it's refreshing hearing that people who're much older have this problem too. I've created investment goals and I'm rating capital through a side hustle and a second job. My goals are based on what I'd be doing if I was rich which isn't much differently.
Just start putting £100 a month (a week if you can afford it) away now into SP500. It takes time to realise the power but when you are 40, you will thank Ken (and me).
How much money do you need at 67 to sustain your working life. If we as married couple. Need 65 k ? How much should we have saved? We also need to find estate planning money to cover inheritance tax ie life insurance whole. Life
I hate that I don’t control my time, I have to go to work most of the time, I want to be financially independent so I don’t have to and can then explore my own ventures whether they may be.
@@TheHumblePennyHave you heard that Michael Burry, the Trader who predicted the 2008 financial crisis has bet $1.6bn on a Wall Street market crash by end of 2023? Could you please do a video about that, I.e., what to do if the market crashes?
Thanks for the video. I have a question: You mentioned about gold. So is it to buy the gold itself ( keep it at home/bank ) or to invest in gold like ETF or similar online form? Cheers
Hi Ken and Mary I made full FI last month after 5 years. My advice would be have a goal and a plan to achieve it. If you have a goal you are already in the top 10% of people. However, if you don’t have a plan to achieve the goal, you don’t really have a goal. Instead, you have a wish. So, make a goal and formulate a plan to achieve that goal
@@TheHumblePenny I’ve moved to buying serviced accommodation properties (think of Airbnb but for construction companies). It allows me to charge £110 per day. It does mean I’m on the hook for not just the mortgage but council tax, gas, electricity etc. I make net £1000ish pm Ken
Thank you for the information. I agree with most of what you've said, but I'm unsure how the skills you mentioned will lead to monetary gains. I'm well-versed in various web domains including e-commerce, design, coding, social media, and AI prompting for both visuals and coding. I've been in the web industry for over 30 years and have witnessed its evolution. I've freelanced, owned a business, and am currently employed. I would appreciate further suggestions on how to leverage these skills for my retirement income.
The advantage of having those skills is the ease and flexibility that you have to create digital products at low input cost and market and sell them for a high gross and net margin. Give me a shout via email if you have more questions. thehumblepenny.com
I swear YT knows…. I have 10 years until retirement I was thinking about what I need to do… I have pension(s) all over the place, should I consolidate??? In any event I will be using the great tips in this video to start!! THANK YOU oh and Im a new subscriber!!! Forget about binge watching Netflix 😂 this is where I will be 😂
Heyyy!! 👋🏾. So awesome 👏🏾👏🏾. You inspired this video and I'm glad I was able to help. I'm here if you need to ask a question. Feel free to check out other ways to work with us on our website: thehumblepenny.com
Ken, I always enjoy your videos and content. I was wondering if you could create a video about investing without interest for Muslims, as well as discussing Islamic mortgages in the UK. Your unbiased perspective would be valuable since I assume the no-interest aspect doesn't affect you. Many thanks!
NEST trust and HSBC offers Islamic pension funds for investment. You can enrol in them for pension or do partial transfer your employer pension to Islamic funds if you like
Question: Could I take lump sum of State pension? Is it possible?? I am on my journey to FIRE and investing into SIP pension. Just wanted to combine all funds (SIP + State Pension) into one portfolio
Use your existing skills to create recurring monthly income. I can coach you to do it. Learn more and book a free call with me here to enrol if you're interested: thehumblepenny.com/architect
Hello Ken. Thx for the contents. But I have a question or need advice. How to skills up meaning studying at university with student loan, while I am an adult person with mortgage. So I would add debt ( mortgage) to an other debt ( student loan). Please help me
I've heard that too. It's time to start upskilling or start saving too. The world of work is changing now that A.I is here. It'll be a wake up call for many employees.
I have seen another video on how to retire in 7 years. Think I will wait for the video on how to retire in 1 month 😂😂 Joking aside, thanks for your content @TheHumblePenny.
Hello Ken and Mary! Thank again for another great video. I have a question for a friend's in his 20ies. He works since he was 16 but his mum said he is not paying pension contribution which I believe everyone need to pay but if not paying you would need to be paying privately. How would not paying pension affect this person despite he is between 20 & 25 ?
I suggest he ask his employer if they have a pension scheme he can contribute to. If not, then he can make his own arrangements. If he is not very knowledgeable about this then I suggest he do some research and seek professional advice
Only way is to invest in property. Best stock you can get. Income / rent just covers costs and hassle and keeps it usable. Real value is sale in later years. You kidding yourself if you think rent is income.
So get a job, make some money and invest in the right opportunities. This is all basic and very generic advice you'd get from anywhere. Not sure if I'm missing something because there seems to be loads of people thanking profusely for this advice here. Unless they're just bots.
Jealous much? If you know it that well, what are you doing here watching this video? Jealous poor people pretending to be rich or wealthy are very annoying 😡😠
![Megan Thee Stallion - Neva Play (feat. RM) [Official Video]](http://i.ytimg.com/vi/TpYTyAaTRts/mqdefault.jpg)
Hi Ken. Thanks for your time and the advice you gave to my husband on the flight.
Unfortunately I was asleep so didn’t get to meet you in person. Hope you enjoyed your holiday.
You're absolutely welcome 😊. It was lovely meeting him and we didn't want to wake you up. Hopefully, we'll meet again. Yes, our holiday was lovely, thank you. Much needed rest and in need of another holiday haha 😄.
It was good question because there are many people in same situation
@@TheHumblePenny😊😊😊
My situation is not typical as I had to take medical retirement after a life changing accident, but I had a public sector pension that I had never really thought about, never expected that I would get anything back from it as my granddad died at 65 and my nana got nothing so I had quite a poor impression of pensions, but mine came through for me. I got a lump sum to pay off my mortgage and a low but secure income for the rest of my life. I bet there are many people like I was who actually have some kind of workplace scheme that they may not be aware of. It can be a real blessing when you need it most to find out that you do.
Here in Australia, we have been told dont rely on a state pension, eventually they will stop offering it . If I meet all of my goals and plans on time, I ll be hitting the semi-retired quota which is in two and a half years...
Semi retired is a very good place to reach. Most won't have that option. Thanks for sharing the Australian perspective
I'm not 40, only in my 20s but I wouldn't mind retiring in 10 years... I'm tiyaddd 😂. But jokes aside, thank you for this video, Ken. So informative, glad you bumped into that guy on the plane!
God bless you and Mary for this Finance Ministry! You both give me so much HOPE! It absolutely resonated with me that our parents moved to the UK with nothing and YET they have achieved so much, I don't need to stress that I didn't start early enough, but I can be extremely intentional for the next 10 years to hit my goals! Thanks!
God bless you too! If our parents could make so much progress, so can we 💪🏾
Top content.
This stuff really should be taught properly and tested in schools on the maths curriculum.
Absolutely!!
Hi Ken & Mary I brought your financial joy book so working through that and doing the exercises... Highly recommend the book and a financial joy plan.. Already opened Vanguard ISA and SIPP. Also have cash ISA emergency fund no debts..
I started all this in August 15th 2023 and also started paying into work pension.. Started late at 58.. I budget account for everything.. I am waiting to reduce Sim card next.. Not sure what else I can do??? Any other suggestions welcome.. My funds are in Vanguard global all cap index fund.. I also. Direct direct everything plus pay NS&i bonds only £25 monthly.. I pay myself first.. So on early parts of your book.. On average income
This is brilliant 👏🏾👏🏾. You're doing well. Keep it up. Can you please do us a favour? Take a photo of the book and kindly write us a review on Amazon. Please keep it specific and tell people what you love so far. If you can, please copy and paste your review also on Good Reads. Thank you 😊
Im currently retired, and considering the current rollercoaster nature of the stock market, I decided to stay on the sideline for awhile, now I'm worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?
Every day we have a new problem. It's the new normal. Recently, we've started talking about implosion of banks and Government bailout. At first we thought it was a crisis, but now we know it's a new normal and we have to adapt. 2023 is a year of severe economic pain all over the nation. What steps can we take to generate more income during quantitative adjustment? I can't afford my hard-earned $28O.OOOsavings to turn to dust.
I’m going to retire in Bermuda….you’re allowed to buy max 2 properties. So I’ll sell my house in London and buy a flat in London. At the moment I’m working on buying the 2 properties in Bermuda. I have one in Jamaica that I’ll sell closer to the time and I’ll cash my 25% lump sum at retirement for some of the money for the other one. I hope that makes sense….
Makes perfect sense. In fact, someone we know who is a surgeon recently moved there with his family.
My main career is raising and home educating my 5 children. I do rent to rent on the side and it’s a fantastic strategy to start by controlling property to then move on to owning property.
Great tips!
Rent To Rent is great. How many are you renting now?
This is great info mate..im 38 just starting a ltd company..ive worked as a sole trader doing something i didn't like for the last 15 years, so decided to try something new ...your videos are a big help 👍
Fantastic! Keep going 💪🏾. We have other videos on the channel to help you along.
I'm in my late 20's and have no savings, it's refreshing hearing that people who're much older have this problem too. I've created investment goals and I'm rating capital through a side hustle and a second job. My goals are based on what I'd be doing if I was rich which isn't much differently.
You have time but keep it up you will smile later😂
Just start putting £100 a month (a week if you can afford it) away now into SP500. It takes time to realise the power but when you are 40, you will thank Ken (and me).
Very relatable topic as lots of advice is about starting early in your 20s but not so much about how to do so in your 40s or older
Yes, Timo. There are lots of people in their 40s and beyond who need more urgent solutions.
definetly relate ..we just struggling / just managing and in our 40+.. still private renting😢
Book a call with me and let's chat. Here are the different ways of working with us if you’re interested: thehumblepenny.com/Coaching
Just great advice, have subscribed. Break concepts down simply and concisely , thank you
Thanks, Eddie :)
I’m want to retire in the next 10 yrs - when I’m 50. Both you and Mary are truly inspirational. 🙏👏🤩
Thank you 😊🙏🏾🙏🏾. Here to help
How much money do you need at 67 to sustain your working life. If we as married couple. Need 65 k ? How much should we have saved? We also need to find estate planning money to cover inheritance tax ie life insurance whole. Life
God bless you
🙏🏾
I hate that I don’t control my time, I have to go to work most of the time, I want to be financially independent so I don’t have to and can then explore my own ventures whether they may be.
Is having the option to retire in 10 years a goal that you have? Comment with any questions you have.
Yeah...in my mid 40s and I can categorically say I'm in the same shoes with that guy...what can one do pls?...
@@abayomifamuyiwa2470keep watching and comment more after watching the video in full.
@@TheHumblePennyI'm trying to get a property in Florida to rent out I'm from the UK .
@@TheHumblePennyHave you heard that Michael Burry, the Trader who predicted the 2008 financial crisis has bet $1.6bn on a Wall Street market crash by end of 2023? Could you please do a video about that, I.e., what to do if the market crashes?
I plan on retiring in 8 to 10 years at age 50 to 52 for various reasons. It's doable but best get my skates on 😂
Thanks Ken, this video was very insightful as always.
Setting a goal for retirement with a 10 year horizon is definitely manageable
Absolutely!
That’s a great question and thank you for making a video about this very relatable topic!
Glad you enjoyed it! Do share with others.
Thank you I am serious about investing and will be watching your videos on the subject I am late 40s and just starting.
You're welcome. We have lots of videos that will help you. See our investing playlist.
Wow this is the BEST question. Let us get practical
💯 to getting practical
very true; i would like to retire before or in 10 years
It's possible.
I love you guys . Excellent content as always. Stay blessed!
Thanks so much! Do please share with others
Good to see vid for late pension savers.
Glad it was helpful!
Thanks for the video. I have a question: You mentioned about gold. So is it to buy the gold itself ( keep it at home/bank ) or to invest in gold like ETF or similar online form? Cheers
Hi Ken and Mary
I made full FI last month after 5 years.
My advice would be have a goal and a plan to achieve it. If you have a goal you are already in the top 10% of people. However, if you don’t have a plan to achieve the goal, you don’t really have a goal. Instead, you have a wish.
So, make a goal and formulate a plan to achieve that goal
Wow, congratulations 👏🏾👏🏾🫶🏾🫶🏾. How's the property plan looking with these rate rises?
@@TheHumblePenny I’ve moved to buying serviced accommodation properties (think of Airbnb but for construction companies). It allows me to charge £110 per day. It does mean I’m on the hook for not just the mortgage but council tax, gas, electricity etc. I make net £1000ish pm Ken
@@StupidIsTheNormreally interesting. Are there specific properties or it’s the usual BTL ?
Thank you
@@lovelykiende hi Linda
The Serviced Accommodation property makes the equivalent of 4 btl’s
Thank you for the information. I agree with most of what you've said, but I'm unsure how the skills you mentioned will lead to monetary gains. I'm well-versed in various web domains including e-commerce, design, coding, social media, and AI prompting for both visuals and coding. I've been in the web industry for over 30 years and have witnessed its evolution. I've freelanced, owned a business, and am currently employed. I would appreciate further suggestions on how to leverage these skills for my retirement income.
The advantage of having those skills is the ease and flexibility that you have to create digital products at low input cost and market and sell them for a high gross and net margin. Give me a shout via email if you have more questions. thehumblepenny.com
Educative piece but you got me laughing when you said you will be utterly shocked if someone got nothing in the bank.
That's a lot of people's reality. True.
I swear YT knows…. I have 10 years until retirement I was thinking about what I need to do… I have pension(s) all over the place, should I consolidate??? In any event I will be using the great tips in this video to start!! THANK YOU oh and Im a new subscriber!!! Forget about binge watching Netflix 😂 this is where I will be 😂
You know, Paula!!! This is where you'll build wealth 💪🏾🙌🏾. Re consolidation, I prefer that. But I currently have mine in 2 places only.
Thank you🙌🏽💝. Very insightful video.
You are so welcome
Thanks for that Ken. It was great to meet you that time on the plane. I have started an investment strategy using your advice.
Heyyy!! 👋🏾. So awesome 👏🏾👏🏾. You inspired this video and I'm glad I was able to help. I'm here if you need to ask a question. Feel free to check out other ways to work with us on our website: thehumblepenny.com
Ken, I always enjoy your videos and content. I was wondering if you could create a video about investing without interest for Muslims, as well as discussing Islamic mortgages in the UK. Your unbiased perspective would be valuable since I assume the no-interest aspect doesn't affect you. Many thanks!
Great suggestion. Noted ✅
NEST trust and HSBC offers Islamic pension funds for investment. You can enrol in them for pension or do partial transfer your employer pension to Islamic funds if you like
Thanks boss, great video!
Very insightful! Thank you.
You're welcome. Do share with others
Great video Ken, thank you for sharing these great tips. Greetings.
Glad you enjoyed it
I'm in my 40s and fear it's too late for me. I have 5 x BTLs but a very small pension pot. Guess I'm relying on property for my future 🙄
5 BTLs. That should surely sustain you?
I just like to thank you for your advice 🙏
You're most welcome 🙏🏾. Please share with others.
Love your content!!❤
😊🙏🏾
Question: Could I take lump sum of State pension? Is it possible?? I am on my journey to FIRE and investing into SIP pension. Just wanted to combine all funds (SIP + State Pension) into one portfolio
No you can't. Your state pension is a regular weekly or monthly payment. No lump sums.
Thanks Ken great video I'll be in touch!
👍🏾👍🏾
Fantastic content as always, thanks for sharing
Our pleasure!
Such a timely advice...do you do one on one advice?
Yes. Book a "Power Hour" or "Financial Freedom Coaching" here: thehumblepenny.com/Coaching
@@TheHumblePenny Thank you my children Mary and Ken. I fall in your parent's generation. Are your sessions free?😊
Very informative thanks👍
Glad it was helpful! Do share with others
what if you don t know what side business to do?
Use your existing skills to create recurring monthly income. I can coach you to do it. Learn more and book a free call with me here to enrol if you're interested: thehumblepenny.com/architect
I relate bro. I'll be 52 this year.
I want to retire in 10 years time , is it too late to start a pension?
No 😊
@@TheHumblePenny good. I will start this week.
Love this!❤
Thank you 🙏🏾. Do share with others.
Hello Ken. Thx for the contents. But I have a question or need advice. How to skills up meaning studying at university with student loan, while I am an adult person with mortgage. So I would add debt ( mortgage) to an other debt ( student loan). Please help me
No, do not go to university! You can learn new skills online for free, here on TH-cam!
Great video!
🙏🏾🙏🏾
I've heard it said that AI won't take your job but people who know how to use it will.
I've heard that too. It's time to start upskilling or start saving too. The world of work is changing now that A.I is here. It'll be a wake up call for many employees.
@@PassportGcome on, let's do this thing! 💪🏾💪🏾💪🏾
Best of luck in all your endeavours 🖤
💯. Don't get left behind
This is true and it's happening now.
I do needed this
Good to hear. Let me know if you have any other questions.
Great video
I have seen another video on how to retire in 7 years. Think I will wait for the video on how to retire in 1 month 😂😂 Joking aside, thanks for your content @TheHumblePenny.
😂🤣🤣🤣
Hello Ken and Mary! Thank again for another great video. I have a question for a friend's in his 20ies. He works since he was 16 but his mum said he is not paying pension contribution which I believe everyone need to pay but if not paying you would need to be paying privately. How would not paying pension affect this person despite he is between 20 & 25 ?
He's still very young but needs to start his pension right away
The sooner the better as he has time on his side.
I suggest he ask his employer if they have a pension scheme he can contribute to. If not, then he can make his own arrangements. If he is not very knowledgeable about this then I suggest he do some research and seek professional advice
@@sarahr6089 thank you all ill pass on the info.
Totally relate to this😢
We hear you 😊
I am in that situation, I desire early retirement.
You can but it requires radical action.
Simple advise don’t stay in one job for 10 years.
totally relate
Good to hear
Already subscribed 🎉
That was a convincing plea 😂
34yrs old 5years to 40yrs old
Time is flying!
I’m all in on doge coin
Interesting. Why?
Only way is to invest in property. Best stock you can get. Income / rent just covers costs and hassle and keeps it usable. Real value is sale in later years. You kidding yourself if you think rent is income.
There isn't just one way of doing things. Property, yes, if doing so long-term.
Another jealous broke person typing nonsense under someone's video 😡😠
arnt you that guy from the barbie movie????
👀👀
So get a job, make some money and invest in the right opportunities. This is all basic and very generic advice you'd get from anywhere. Not sure if I'm missing something because there seems to be loads of people thanking profusely for this advice here. Unless they're just bots.
Do you have better ideas? As for bots, you must be kidding. Who has time for that kind of rubbish?!?
Jealous much? If you know it that well, what are you doing here watching this video? Jealous poor people pretending to be rich or wealthy are very annoying 😡😠