For me it was £25k. It felt like it took forever to reach 2 £25k. But when I got to £25k, I just focused on reaching the next £5k. And then the next £5k. Also I invest complete in a SIPP, seeing that instant 20% contribution was motivational. Also I know my money is parked somewhere that I cant access and stops me from impulse buying or selling
@@cristoff3started with a mix of UK, India, Korea and European smaller companies ETFs. Moved to buying individual companies when I had more confidence. Mainly magnificent 7 but was lucky enough to buy Tesla and Nvidia around 2016-2017. Once in a lifetime really I invested 1000 into Nvidia and it's now up 1800%, it was my first 10-bagger but as with all my early investments I couldn't afford to buy much so it's great but could have been spectacular
@@cristoff3 back around 2010 when I started this journey I bought investors chronicle and went with the UK special situations fund, barings Korea, m&g Asian fund, an India fund and a European Smaller companies fund. Moved to stock picking after gaining confidence, got into TSLA and Nvidia in 2016ish, now up 1900% on Nvidia, but couldn't afford much for the initial investment! Now maxing S&S ISA every year to unlock freedom
Can you show me the link/reference to where you fot the charlie munger quotes. I dont think he said this even though so many people on TH-cam repeat it.
It’s a quote from a Berkshire Hathaway meeting in the 90s. There’s 1000s of sources that say he said it including some of the biggest platforms in the world. Interested to hear why you think he didn’t?
Hi everyone, I’m at 34k after a year and a half investing. I’m putting everything into trying to max out my isa again this year. I don’t earn a fortune but am extremely frugal. I’m enjoying the journey. My strategy is to hold individual stocks that I sell for a profit to then feed profits into long term ETFs.
It's how much he adds essentialy what he's saying is he adds 10k per year which in 7.5 years of compounding and about 75k pounds added from you and 25k from the compounding effect giving you a total of 100k
That doesn't mean 100k is easy to achieve, it's a huge milestone most people will never reach. Life is very expensive compared to the 90s, you only need to look at average house prices vs average wages to see thst
I have an invest engine account. Currently using there managed portfolio on an aggressive strategy. Would you recommend just to switch this to dyi and just doing s&p 500?
For me it was £25k. It felt like it took forever to reach 2
£25k. But when I got to £25k, I just focused on reaching the next £5k. And then the next £5k. Also I invest complete in a SIPP, seeing that instant 20% contribution was motivational. Also I know my money is parked somewhere that I cant access and stops me from impulse buying or selling
Fair enough! Thanks for sharing
Good vid and clear. Who gets 10 percent apart from stocks and shares. Money does make money agree 👍
And tax free, what a blessing an ISA is
Sure is!
Took 10 years to 100k, but 4 years to 200k, felt like a long slog
Amazing work! Keep it up
which funds did you invest it into mate?
@@cristoff3started with a mix of UK, India, Korea and European smaller companies ETFs. Moved to buying individual companies when I had more confidence. Mainly magnificent 7 but was lucky enough to buy Tesla and Nvidia around 2016-2017. Once in a lifetime really I invested 1000 into Nvidia and it's now up 1800%, it was my first 10-bagger but as with all my early investments I couldn't afford to buy much so it's great but could have been spectacular
@@cristoff3 back around 2010 when I started this journey I bought investors chronicle and went with the UK special situations fund, barings Korea, m&g Asian fund, an India fund and a European Smaller companies fund. Moved to stock picking after gaining confidence, got into TSLA and Nvidia in 2016ish, now up 1900% on Nvidia, but couldn't afford much for the initial investment! Now maxing S&S ISA every year to unlock freedom
Does that £100k need to be in one account to benefit from compound interest or can it be spread over 3 or 4 stocks and shares ISAs?
Compounding will work on your total portfolio, don't worry if it's over multiple accounts
Can you show me the link/reference to where you fot the charlie munger quotes.
I dont think he said this even though so many people on TH-cam repeat it.
It’s a quote from a Berkshire Hathaway meeting in the 90s. There’s 1000s of sources that say he said it including some of the biggest platforms in the world.
Interested to hear why you think he didn’t?
@@upthegainsmoney can you link to the actual meeting/transcript?
If he never said it. Well he did now 😂
@@upthegainsmoney in theory we should be saying the "first £250,000" to adjust for inflation, but wages in the UK have been so stale ...
Hi everyone, I’m at 34k after a year and a half investing. I’m putting everything into trying to max out my isa again this year. I don’t earn a fortune but am extremely frugal. I’m enjoying the journey. My strategy is to hold individual stocks that I sell for a profit to then feed profits into long term ETFs.
So, what if just putting a lump sum of 100k in, and nit topping up...? How long would that roughly take to get to 500k...?
I’d Google compound interest calculator and have a play around buddy
Great video thanks
Im at £48,000 i started just under three years ago
👏👏👏
Sammie, you mentioned your 123 financially fit course on savvy wallet pod however I couldn't find the course anywhere on your site
Hey bud - it’s in the description of this episode 🙏
is the 10k a year what you keep adding or the compound interest
It’s just an example for this video to keep it simple - your amounts no doubt will vary and returns will also affect your compounding rates.
It's how much he adds essentialy what he's saying is he adds 10k per year which in 7.5 years of compounding and about 75k pounds added from you and 25k from the compounding effect giving you a total of 100k
A 100k has been quite significant amount in the 90's , but now is not that much. The old 100k = ~300k in todays money.
Sure its value has gone down but the compounding effect still differs immensely at those levels.
That doesn't mean 100k is easy to achieve, it's a huge milestone most people will never reach. Life is very expensive compared to the 90s, you only need to look at average house prices vs average wages to see thst
I have an invest engine account. Currently using there managed portfolio on an aggressive strategy. Would you recommend just to switch this to dyi and just doing s&p 500?
I can’t tell you what do I’m afraid but I like Investengine as a platform