Step 1, Find £250 Step 2. Realise I only have £2.50 and a Tesco Clubcard Voucher.
If you can find an ISA paying 13% a year, can you let the rest of us know
Edit: As has been rightly pointed out, I should have said 10%.
It’s actually really good advice I’ve been using a stocks and shares isa for years now.
What about inflation? £565k now and £565k in 30 years time may be drastically different..
Also, where are you finding these ISA’s? I’ve put in £7k and only made £300 in a year
What kind of utterly insane, seemingly guaranteed interest rate is this out of touch psychopath basing this on?
Half a million sounds massive now, but by 2055 that’ll barely get you 50,000 Freddos. But if you buy Freddos every month for the next 30 years starting today, you’ll probably end up with more Freddos.
I think the easiest way to get rich, is to just stop being poor.
These people have no idea about the real world.
The point isn’t that you have to have £250 minimum per month.
It’s that if you regularly invest something per month then your future self with reap the benefits.
Something is better than nothing.
A £250 payment in 1996 is equivalent to £600 today. That’s a fair chunk of cash to be putting in an isa every month
Yeah just pop it in there, no worrys
Step 1. Just stop paying rent mate innit
These guys are so tiresome, complete copy and paste bores contributing nothing to the conversation. Just the same 2 or 3 pieces of ‘financial advice’ repeated ad nauseam.
You’ve already paid tax on it
It reminds me of those solar panel adverts that were going around on YouTube a couple months ago.
“Did you know that most people don’t get solar panels because they think they are too expensive? Well I’ve got good news for you! You can get brand new solar panels for little to no cost! All you need to qualify if live in one of the approved postcodes and own your own home!”
And here I am with a future projection of putting 30k in for a return of 35k
Ill be interested to know what £565k actual value will be worth in 30 years. And also what a realistic estimate of interest would be. My guessing not substantially more than 90k is worth now.
If you need 250 spare each month just start reselling
Go to some local auctions once or twice a week, pick whatever you think about will sell, list it all on eBay and marketplace
If you have the time, mooch about charity shops etc too, loads of shit to be found
Easiest money I’ve ever made, make a few hundred with minimal effort each month
Yes but a pint would cost £25k
where the fuck is this guy finding an ISA with such high APR? Best I see is like 4% but then again im terrible with banking my money.
Step 2, have more than 30 years of valuable life ahead of you
Fantastic. That’ll come in handy when i’m 81 for sure
Just wait – 5 minutes before you retire, a future version of Rachel Reeves, will decide to snatch your cash in a tax raid on your hard earned savings. Something to look forward to. Diversify and trust the gov at your peril. Just ask the WASPI women – your money is never guaranteed as safe. Oh and what age are you planning on retiring? Because if you’re in your 20s, I imagine it will be mid-70s, before you can draw a pension. That being said, well done for planning for your future – just be cautious and don’t count on the rules being the same then as they are today ✌️
£250 a
Month is very achievable to a lot of people
Not everyone lives in the breadline
Or buy a house in 1995. Gone up about the same amount.
No you wouldn’t, you’d have £188,420; assuming interest of 4.5% which is the highest I’ve found on a cash ISA.
It`s the casual use of the word pop that is the most infuriating part. The tone it gives is that its a “only” £250 of “spare” money. If I had spare £250 a month I would have a new van.
Number are extremely optimistic, but it’s still generally good advice.
So many people commenting “who has £250 spare each month!?!?!” Obviously if you’re really struggling £250 is going to be impossible, but loads of people could at that much aside monthly and don’t.
28 comments
Step 1, Find £250 Step 2. Realise I only have £2.50 and a Tesco Clubcard Voucher.
If you can find an ISA paying 13% a year, can you let the rest of us know
Edit: As has been rightly pointed out, I should have said 10%.
It’s actually really good advice I’ve been using a stocks and shares isa for years now.
What about inflation? £565k now and £565k in 30 years time may be drastically different..
Also, where are you finding these ISA’s? I’ve put in £7k and only made £300 in a year
What kind of utterly insane, seemingly guaranteed interest rate is this out of touch psychopath basing this on?
Half a million sounds massive now, but by 2055 that’ll barely get you 50,000 Freddos. But if you buy Freddos every month for the next 30 years starting today, you’ll probably end up with more Freddos.
I think the easiest way to get rich, is to just stop being poor.
These people have no idea about the real world.
The point isn’t that you have to have £250 minimum per month.
It’s that if you regularly invest something per month then your future self with reap the benefits.
Something is better than nothing.
A £250 payment in 1996 is equivalent to £600 today. That’s a fair chunk of cash to be putting in an isa every month
Yeah just pop it in there, no worrys
Step 1. Just stop paying rent mate innit
These guys are so tiresome, complete copy and paste bores contributing nothing to the conversation. Just the same 2 or 3 pieces of ‘financial advice’ repeated ad nauseam.
You’ve already paid tax on it
It reminds me of those solar panel adverts that were going around on YouTube a couple months ago.
“Did you know that most people don’t get solar panels because they think they are too expensive? Well I’ve got good news for you! You can get brand new solar panels for little to no cost! All you need to qualify if live in one of the approved postcodes and own your own home!”
And here I am with a future projection of putting 30k in for a return of 35k
Ill be interested to know what £565k actual value will be worth in 30 years. And also what a realistic estimate of interest would be. My guessing not substantially more than 90k is worth now.
If you need 250 spare each month just start reselling
Go to some local auctions once or twice a week, pick whatever you think about will sell, list it all on eBay and marketplace
If you have the time, mooch about charity shops etc too, loads of shit to be found
Easiest money I’ve ever made, make a few hundred with minimal effort each month
Yes but a pint would cost £25k
where the fuck is this guy finding an ISA with such high APR? Best I see is like 4% but then again im terrible with banking my money.
Step 2, have more than 30 years of valuable life ahead of you
Fantastic. That’ll come in handy when i’m 81 for sure
Just wait – 5 minutes before you retire, a future version of Rachel Reeves, will decide to snatch your cash in a tax raid on your hard earned savings. Something to look forward to. Diversify and trust the gov at your peril. Just ask the WASPI women – your money is never guaranteed as safe. Oh and what age are you planning on retiring? Because if you’re in your 20s, I imagine it will be mid-70s, before you can draw a pension. That being said, well done for planning for your future – just be cautious and don’t count on the rules being the same then as they are today ✌️
£250 a
Month is very achievable to a lot of people
Not everyone lives in the breadline
Or buy a house in 1995. Gone up about the same amount.
No you wouldn’t, you’d have £188,420; assuming interest of 4.5% which is the highest I’ve found on a cash ISA.
It`s the casual use of the word pop that is the most infuriating part. The tone it gives is that its a “only” £250 of “spare” money. If I had spare £250 a month I would have a new van.
Number are extremely optimistic, but it’s still generally good advice.
So many people commenting “who has £250 spare each month!?!?!” Obviously if you’re really struggling £250 is going to be impossible, but loads of people could at that much aside monthly and don’t.
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