Tag Archives : wealth


My Strategy For The New Stocks and Shares ISA 4

When it comes to Investing and Saving, I cannot believe how lucky we are in the UK. We have an account that lets you invest and save money completely tax free. And unlike a pension, you can withdraw the money at any age you like. Yes, I am talking about the Investment and Saving Account (ISA). I do most of my investing these days using an ISA account. No capital gains tax to pay and no dividends tax to pay. Without these expenses I can let more of my money compound for longer. Every year, each individual can put a set amount into an ISA account. Over the past few […]


Two Year Self Invested Stocks ISA Account Performance Review – Still Beating The Market 1

How time floes. In two weeks time, I will be celebrating my 2nd anniversary of my active stocks and shares ISA portfolio. Over this time, we have had the Greek Crises, the oil crises, the commodities crises, the Chinese crises, rate increases, emerging market slowdowns, Brexit, populism and the trump bump. Yet it still feels like its only yesterday that I took charge of my own money and bought my first stock. With my portfolio and tax year ends quickly approaching, now seems a good time to analyse my performance over this period. I need to know if actively investing by picking my own stocks has been a good choice […]


Transferring My Pension Between Providers – Options, Charges, Length of Time, SIPP 2

One of my new years resolutions has been to give my finances a spring clean. I started by looking at my pensions and found that one of my old stakeholder pensions was charging too high a fee. As readers of this site know, fees are a huge drag on performance and can cost you tens of thousands over time. I thus decided to move this all pension into a lower cost Self Investment Personal Plan (SIPP). In this post, I detail what options people have when transferring pensions, the process of transferring a pension, how long it takes and what assets you can invest in. Old Stakeholder Pension – Scottish […]


You Don’t Have As Much Retirement Savings As You Think!

Many people. especially those in the baby boom generation, have this perception that the world is awash with savings. Yes, the post-war generation is wealthier than any before it. But the ultimate value of any investment depends upon being able to convert it into cash, to be able to realise its purchasing power. According to a recent Global Wealth Report by Credit Suisse, the world’s accumulated wealth – around $250 trillion – is almost certainly incapable of realisation at its paper value. This headline number thus vastly overstates the supposed savings glut. Why are savings figures so vastly overstated? Most of the worlds savings are held in two forms: Real […]


What Percentage (%) of your Income should you Pay Yourself First?

We have all heard that paying yourself first is the best way to become wealthy in our society. Whilst we all know the merits about paying yourself first, many people do not now exactly how much money to set aside to pay themselves first. So is there a magic number? You hear people asking themselves this question all the time How much do I need to pay myself first? So here is my formula on how much you should pay yourself first. You don’y have to agree with it but just have a look at it. Whilst I know everybody is different and people have different circumstances, I am just […]


Pay yourself first even if you are living paycheque to paycheque – No excuses 2

The golden rule of personal finance is to pay yourself first. One of the biggest mistake people make is that they pay bills, rent, loans and other expenses first! The government also pays itself first with YOUR money even before you do. This is absolutely crazy. It is no secret that the rich play by a different set of rules. It is no coincidence that people who are wealthy are in that position – they have achieved and are able to maintain their wealth because they understand how money and personal finance works. They pay themselves first. Then they take care of the little things like bills, loan payments and […]


The Greatest Investment Secret is to start early! 2

Most people looking to make money from the stock market will go in search of that one magic stock. That one stock that will make them rich overnight without the risk. But for any rational person, they know that this is not possible. More money has been lost in ‘magic stocks’ than at the point of a gun. Just look at the story of GTAT investors. Whilst the majority look for that magic stock, it is far more prudent and wise to use a different method to build wealth via investing. A method that you can control. Albert Einstein even called it the 8th wonder of the world. I’m talking […]


How long it will take to become a millionaire from investing?

Becoming a millionaire through investing is a dream many wish to achieve. By investing money, people are essentially stashing it away in the hope of getting more money in the future. The length of time it will  take to become a millionaire from investing in the stock market depends on the amount of money you invest and your annual rate of return. Before we jump into this, let’s look at the three factors that determine the amount of money you end up with: The amount of money you invest – Common sense will tell you that the more money you invest, the more money you will end up with. By investing […]


How to Become Rich on a Middle Class Salary

Many people will lead you to believe that the only way to become rich is by inheriting a large sum of money, winning a lottery getting lucky in the Euromillions or starting a tech start-up and selling it for millions. Whilst those ways do make your rich very quickly, the chances of you getting rich that way is very slim. On the other hand, if you have good savings and investing habits, the chances of you ending up rich dramatically increase. The road will be longer but that the the trade off for the certainty you receive in following that approach. With this approach, a person earning the average UK […]


How much money you would have if you invest $1 a day

Have you ever wondered how much money you would have if you invested $1 a day since you were born? I certainly have and I got really excited when I stumbled upon the ‘dollar a day’ calculator over at the stockchocker website. The calculator lets you put in your birthday and shows how much money you would have if you invested one dollar a day in the US market. You an sole play around with it to see how much you would have if you started investing on your 18th birthday or since you started working full time. What is amazing is that I currently have more money in my […]