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How To Become A MILLIONAIRE Investing £10 PER DAY!
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Күн бұрынLearn How To Become A MILLIONAIRE Investing £10 PER DAY in the UK! Today we demonstrate that with consistent investing of your money in the right environment over a long term horizon, you too can become a millionaire thanks to the power of compounding interest! 😊. Learn how to start investing for beginners (smartly!) today.
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When I'm not creating, I love vegan food, travelling, working out and doing some outdoor fun things with my husband and kids :)
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I'm a husband, dad, and a First-Generation Immigrant to the UK. I started life poor in the UK and I've spent the last 20 years on a steep journey of Personal Development.
Former CFO with over 12 years experience in the investment business. I'm also a Chartered Accountant and hold an MBA from Cambridge University.
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Massive thanks for watching and following our channel :) ♥
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#Howtobecomeamillionaire #investingforbeginnersuk #Howtostartinvesting
@TheHumblePenny 4 жыл бұрын
Let's make this more fun - Who believes that they can actually become a millionaire one day?? By what age do you want to see that happen?
@MzCarterOG 4 жыл бұрын
By the time I’m 40 I would like to see that happen I’m tired of answering to ignorant people at work. I’m 31 lol
@samanthahardy9903 4 жыл бұрын
If someone had £250,000 and moved to another country, depending on the exchange rate, that person could be a millionaire in the country they move to!
@TheHumblePenny 4 жыл бұрын
Good thinking! :)
@TheHumblePenny 4 жыл бұрын
I get the work thing. Are you already saving and investing?
@petejames4672 4 жыл бұрын
When did you become a millionaire using this method ? 😁
@vincentcoachman3659 4 жыл бұрын
The wisest thing that should be on every individual's list is Investing in different streams of income that don't depend on the government to bring in money especially now the pandemic is hitting the economy pretty hard.
@fredrickken3151 4 жыл бұрын
You are absolutely right about that 👍
@fredrickken3151 4 жыл бұрын
Investments are the stepping stones to success
@jeffking3910 4 жыл бұрын
You talk like the government has ever cared about us, waiting for the government is a big big waste of time.
@anitacampbell446 4 жыл бұрын
Investing is good but investing in the right thing is the actual key to success
@anitacampbell446 4 жыл бұрын
There are so many investments out there but if profit must be considered, then not all investments are good to go into.
@FreeyourFinance 3 жыл бұрын
A really powerful message, Ken. The power of compounding growth, the 8th wonder of the world!
@TheHumblePenny 3 жыл бұрын
Much appreciated 👊🏾
@EuanCopeland 4 жыл бұрын
£10 is soo realistic 👏🏻 I love the concept of slow building wealth - doesn’t happen over night but so worth it! Loving the vid so far 👏🏻
@TheHumblePenny 4 жыл бұрын
👊🏾
@UselessAtBest94 4 жыл бұрын
Thanks Ken! Love your content and since watching your mortgage over-payments video, my partner and I have committed to bringing our mortgage down, currently from 30 years to just 12! Now we just need to find some more money to invest for an even brighter future!
@TheHumblePenny 4 жыл бұрын
OMG that's incredible! 30 years to 12 years. I bet that's very motivating, right? Grab our free passive income ebook for extra income ideas: thehumblepenny.com/passiveincome
@UselessAtBest94 4 жыл бұрын
@@TheHumblePenny Insanely! Keeps us working hard. I will have a read over that ebook now too, thank you!
@thewealthwarren6940 4 жыл бұрын
This is a great example of how compounding works in your favour when you invest consistently over time 👏👏
@TheHumblePenny 4 жыл бұрын
Consistency is EVERYTHING. And this goes beyond money.
@adejuwonodugbesi3102 4 жыл бұрын
The Humble Penny you are right as well as takes discipline and time.
@tomfisher7751 4 жыл бұрын
This is honestly my favourite channel. I just love your enthusiasm. Thank you for the great and consistent content. Also, I got moved into my house finally. I've also set up a private pension and stocks and shares isa which I'll start paying into next month :)
@TheHumblePenny 4 жыл бұрын
Wow Tom, just WOW!! Sounds like results all round 👏🏽👏🏽😊 Thanks too for continuing to support our channel. Much appreciated!
@tejimogu 4 жыл бұрын
Me too mate !
@user-kc9mz8bu8y 4 жыл бұрын
I think this pandemic has taught people the importance of multiple streams of income unfortunately having a job doesn't mean security. So l really appreciate your transparency and giving people a Fighting chance during these troubling times
@TheHumblePenny 4 жыл бұрын
Thank you, Kimberly. Really appreciate that 😊
@ReeceCaruso 4 жыл бұрын
Great suggestions! This is such an important topic to be discussing right now. I really enjoyed this!
@TheHumblePenny 4 жыл бұрын
Cheers, Reece! 😀
@ben.atherton 4 жыл бұрын
Great illustrations showing the power of investing and compounding Ken. Becoming a millionaire is easily doable for most people if they follow this strategy!
@TheHumblePenny 4 жыл бұрын
Cheers, Ben! :)
@dsjmentor9767 4 жыл бұрын
Love the concept of delayed gratification. Great video as always Ken 👌🏾📈
@TheHumblePenny 4 жыл бұрын
Much appreciated!! 😀
@SwahiliSpicE 3 жыл бұрын
You’ve literally just laid out what I learned in my Financial Management class at uni but put it in a way that’s practical and less complicated. I really need to start investing in a diverse range of fincial instruments. Love your enthusiasm, it really makes you a joy to watch and listen to.
@charlottemathewson4885 4 жыл бұрын
would you suggest investing in index funds if i wanted to buy a house within 5 years? love the videos
@Colourandwellbeing 4 жыл бұрын
I had a mum who was a saver. I open my first account and age 16 and always been a saver. Being a saver helped, has helped me in life because of it my only debt is my mortgage. However I definitely agree that being just a saver doesn’t lead you to become a millionaire. I am great at stretching my money but already in my 40s and Not a millionaire lol. I don’t know why investing in shares is so scary for people like me? Being a property wasn’t but this is.? I will continue to watch your videos to help me shift my mindset. Great content
@TheHumblePenny 4 жыл бұрын
Hi Maria I really love you sharing this personal perspective. Like many unknowns, the more you get comfortable with the risk, the easier it becomes to embrace that unknown. For example - Quitting your job for a totally different career. Would you ever do it? Even when you know that your current direction is taking you nowhere? Most fear the unknown and do nothing. But the person who considers the unknown and the worst case scenario is more likely to take ACTION and as such better off overall 😀
@Colourandwellbeing 4 жыл бұрын
Hi Ken completely agree that’s why I am being consistent at watching your videos and considering signing for one of your courses, that’s my way of dealing with the fear of loosing all my money, especially in a one income household. But I know me, I will get there God bless you, your wife and children for all this great content
@robberger2640 3 жыл бұрын
Your content is disgustingly underrated. You’re the goat 🔥.I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability
@randomdaveUK 4 жыл бұрын
Great video, not the first of yours I've seen. Totally switched me to investing and thinking long term. Just wished I'd started sooner! Have an ETF with regular deposits for the compound interest as you've shown and also a tech stock portfolio I'm building to weather another market crash. You've helped change my future prospects by changing my mindset. Huge respect 👍
@TheHumblePenny 4 жыл бұрын
DaveL, thank you for sharing this. It really means a lot! 😊
@lisabygrave6607 4 жыл бұрын
Great video as always. I have a question, we urrently save 50£ each per month for our daughters. The interest rate is 4%, should we continue or pull it out and invest in stocks and shares that u have mentioned?
@empetrys 2 жыл бұрын
sorry, can't figure out how do you make these figures from using the compound interest calculator, doesn't add up? could clearly explain how properly calculate your investment please?
@susanlewis1953 4 жыл бұрын
I’m investing £100 a month for my son who is 11 years (junior stocks and shares isa). Great vid - I will keep on investing Sue
@TheHumblePenny 4 жыл бұрын
Keep going, Sue! 😀
@dannyp7070 4 жыл бұрын
Great video man, this is an eye 👁 opener ! I started investing into the stock market early April and I’m currently up 8% to date. I had isas for years but this video has definitely gave me more confidence to stick with what I’m doing. Thanks 🙏🏻. Oh yeah and you’ve got your self a new sub👌🏻
@TheHumblePenny 4 жыл бұрын
Danny P, awesome!! 👊🏾
@petejames4672 3 жыл бұрын
But coin and you would be 45% up
@CupcakeBaker1982 4 жыл бұрын
👋🏻 I just found your channel today, it’s my new favourite! I’m 38 and have been investing since the end of July this year. I’ve now created pies in my trading 212 account. I have an ETF pie, a dividend pie, a “Big One” pie (which is the big US tech companies), a cannabis pie and a free share pie. Can I ask...what is your opinion on the value projections within the pies?
@DanielSquires 2 жыл бұрын
Great tips as always… I would say it’s important for people to consider saving BEFORE they start investing and always save while investing. The wealthiest people all have large cash reserves. As do the top companies. Eg Warren Buffett (investor) has over $100billion cash reserves in Berkshire Hathaway. Reason this is so powerful is not just because you have money in case of emergency or have extra cash to buy up dips in the market, but because it helps you make smarter investing decisions because you have enough of a cash cushion to help you stay in an abundance mindset, independent of what is going on in the market such as a recession, market crisis etc. 👌🏽💰
@TheHumblePenny 2 жыл бұрын
Totally agree. Thank you for sharing this perspective 😀
@Godonstilts 4 жыл бұрын
Ken - I see these US KZfaqrs touting investment apps like Weebull and RobinHood etc. Are there any UK versions of these you would recommend?
@samueladjei1827 4 жыл бұрын
Great video please keep them up , bless you and your family.
@TheLimitZGamer 4 жыл бұрын
Not all heroes wear capes 🤘🏼
@TheHumblePenny 4 жыл бұрын
😊💛
@CandyAngelTv 4 жыл бұрын
A wonderful video as always. I just have one question. Do I need to exit the trade and reenter to be able to add the accumulated growth to my investment. I have noticed that, although the value of my investment has been going up, my exposure only increases with the amount added each month.
@TheHumblePenny 4 жыл бұрын
Thank you! What investment do you have? You don't need to exit and enter. If it's a fund that you've invested in, invest in one that "accumulating" rather than one that's paying out "income".
@FitnessFoodRecipes Жыл бұрын
Great information! So what is the next step once you’ve decided you’re ready to invest £300 per month? Which apps or company should I put the money into???
@jman9496 3 жыл бұрын
Ken just subscribed. Is the only way to take advantage of compounding, through reinvesting that dividends? And can you do that in VUSA automatically?
@davestringer3774 4 жыл бұрын
great video! What is your opinion on the Vanguard life strategy or should I just continue investing in VUSA?
@TheHumblePenny 4 жыл бұрын
VUSA was not a personal recommendation. It was just an illustration 😉, although it's definitely an investment to consider. Life Strategy is a great offering in my opinion for what it aims to do.
@TheMightyRedmen_ 4 жыл бұрын
Hi Ken great video, i was just wondering what the tax rates are when withdrawing your funds? For example if you have 1million in your index fund and then withdraw 40 years down the line, what % of that will be taxed? :)
@riasilva4579 Жыл бұрын
There is no tax on withdrawal from a stocks and shares ISA.
@ladyv1281 4 жыл бұрын
I just started investing in the life strategy 100% via vanguard. I have been scared to invest but have finally made the leap, but what happens if the stock market crashes? Do you just ride the wave and wait for it to pick up again? Will all your money be lost?
@TheHumblePenny 4 жыл бұрын
You don't sell if there is a crash. Ignore your investment account. Basically, don't sell as the loss becomes real if you sell. If you don't sell, it's just a paper loss.
@pigsinpyjamas9410 4 жыл бұрын
The Humble Penny I would also like to see a video explaining this concept of ‘loss’. Surely if you lose it, then you lose it?
@thomfisher4926 4 жыл бұрын
@@pigsinpyjamas9410 you only lose it if you sell it. If you don't and you ride the wave and leave your money in there the market will rise again and you technically lost nothing! If the market crashes, that's the time to pump the money in, because when the market rises again your investment grows!
@pigsinpyjamas9410 4 жыл бұрын
Thom Fisher thank you, but I’m confused because a friend of mine lost £70k in the stock market. He was quite old so does that mean he just didn’t have long enough to wait for the stock market to go back up?
@thomfisher4926 4 жыл бұрын
@@pigsinpyjamas9410 unfortunately it does sound like it, best rule of thumb is to take your age and then use that as your % for bonds to protect yourself against a market crash. Im 30 so I have 30% in bonds and 70% in stocks and shares. If I was 70 I'd have 70% in bonds and 30% in stocks and shares. Doing it this was is less risk, but doesn't yield as high rewards. Generally the older you are the less you should be taking high risk gamble in the market as you dont have the lifespan to recover if the market does drop off.
@MzCarterOG 4 жыл бұрын
Can you do a video on investing for beginners who have no clue and also for people on very low incomes please because everyone situations are different.
@TheHumblePenny 4 жыл бұрын
We've made videos for beginner investors. Please see our investing playlist 😀
@louisbutler2387 4 жыл бұрын
What is a better account to invest in / open, a general investment account or a stocks and shares isa, Thanks
@MsAdam09 4 жыл бұрын
Great video, when you say factor in inflation, how do you go about doing this? If I look on bank of england website at £1M from 2018 value in 1978 (40 years) the value is 177k, which based on your £10 per month example isn't a massive improvement on the amount you put in. Am I calculating this right? Still a hell of a lot better than putting it in the bank.
@cheri-annpryce283 4 жыл бұрын
If you put money in savings account, it will go down in value due to inflation as the interest on saving accounts bank offers tend to be very low like 0.1% and inflation is tend be 1-2%. However, if you put your money in investment platform e.g. Vanguard, fidelity, H&L in high yield dividend ETF like FTSE 100. Hypothetically, your return 3% quarterly or yearly with inflation 2%. The value of money grows over time. The inflation will not necessarily impact your investment. It best to have money in both saving account and investment account. Saving can be used as emergency fund and investment account can use to build your wealth for long term financial stability and freedom
@Soulfulmotivation101 4 жыл бұрын
Hi Ken thanks for your continued education to help us achieving financial independence. I have just moved my kids Junior ISA to H&L. Am at lost to what stocks to buy and am also confused with their fees and charges. Do u recommend H&L OR Vanguard?
@cryptoflippodcast 4 жыл бұрын
_Nobody wants to get rich slowly!_ 😤😓😤
@WealthDecoders 4 жыл бұрын
Which is why we must accelerate the wealth building via education and side hustles 📣
@TheHumblePenny 4 жыл бұрын
This is why most don't actually get rich!
@cryptoflippodcast 4 жыл бұрын
@@WealthDecoders 100%
@Andy-wp6lj 4 жыл бұрын
Thanks Ken & Mary - Can you please let me know that Vanguard index code again please. Thank you
@TheHumblePenny 4 жыл бұрын
Hey Andy, the example I gave was "VUSA". It's not a recommendation per se as I cannot give you investment advice. Just an illustration 😉
@oliam123 4 жыл бұрын
Can anybody recommend Trading 212 app? I have only every been a saver but would like to start investing a little to start with.
@xtxza 4 жыл бұрын
I've used trading 212 since January and I love it, so easy to use and your money is protected
@msmacthankQ 4 жыл бұрын
Excellent and easy to understand thank you 👏🏾👏🏾👏🏾👏🏾👏🏾
@TheHumblePenny 4 жыл бұрын
You're most welcome! 😊
@leeshalusalongrowth 3 жыл бұрын
Which Calculator did you use, Ken? I like the yearly percentage breakdown!
@TheHumblePenny 3 жыл бұрын
One off Google but I've created one for free here: thehumblepenny.com/compound-interest-calculator
@leeshalusalongrowth 3 жыл бұрын
@@TheHumblePenny Wow. Thank you for responding. I will use it now!!
@user-nx2wr3sg8j 4 жыл бұрын
With this type of investment does one pay taxes, and how would someone work out those taxes?
@TheHumblePenny 4 жыл бұрын
No taxes if you do it via your stocks and shares ISA :). You get a £20k allowance to invest per year
@lolyschmoney 4 жыл бұрын
Great video, thank you ! I'm a future millionaire !! 100%
@TheHumblePenny 4 жыл бұрын
👊🏾. Invest and stay consistent with it 😉
@chandriarul1795 4 жыл бұрын
Very informative. Thanks Ben. Really appreciate.
@obas1163 4 жыл бұрын
Thank you Ken... You make a fine point.
@TheHumblePenny 4 жыл бұрын
👊🏾
@jennyli365 4 жыл бұрын
In 40 years, do you think 1 million might just be worth 50 thousand?
@TheHumblePenny 4 жыл бұрын
No... Assume a rate of return that factors in inflation
@massivefitness3865 4 жыл бұрын
Ken I love your informative videos. Would you be able to review at rate my portfolio atall to see if I am on the right track
@TheHumblePenny 4 жыл бұрын
Thank you :). Please feel free to email me.
@rost8303 4 жыл бұрын
I would love to starting this 300 pounds per month but I don't know nothing about computers technology or how investment works. My question is there any way I can just have to put this amount each month and not worry about others things in order to invest this amount? If someone tells me go to this site of investment and all you have to do is make sure you you put this money each month, I'm for it cos. I don't understand nothing about technology and English is not my first language also. But if investing can be as easy as when we put money in the bank please let me what do I have to do to start it and I will do it. Thank you
@TheHumblePenny 4 жыл бұрын
It's very easy! All you do is choose an investment and automate your investing i.e. set up a standing order and that's it! 😊 Watch our KZfaq videos on the investing playlist or join our beginner investing course here: Thehumblepenny.com/SuperSimpleInvesting
@rost8303 4 жыл бұрын
@@TheHumblePennyOK I will do it and Thank you so much for replying to me.
@kenrickfagan628 3 жыл бұрын
Brilliant advice and to put things into perspective 👌🏽
@TheHumblePenny 3 жыл бұрын
👊🏾
@lex5351 4 жыл бұрын
Such an inspirational video! Thank you 😊
@valerieswaks5420 2 жыл бұрын
Nicely explained and easy to understand thank you so much.
@TheHumblePenny 2 жыл бұрын
You're most welcome, Valerie 😊
@valerieswaks5420 2 жыл бұрын
@@TheHumblePenny I'm very new to this and wondered, what happens at the end of the 30 - 40 year period of investment. Are there risk of your money losing value as the market fluctuates? 🤔Or with compound interest and investing for an extended period you are likely to be in a better place financially? Just wanted to make sure I've fully understood as my hubby is asking questions. Thank you. ☺️
@TheHumblePenny 2 жыл бұрын
@@valerieswaks5420 More the latter. The stock market will always fluctuate. That the nature. But compounding over decades will see you build considerable wealth irrespective of the fluctuations. In fact, the fluctuations over time lead to your capital wealth growing beyond inflation and you build REAL wealth. I'd suggest you both grab this structured investing course: thehumblepenny.com/SSI
@valerieswaks5420 2 жыл бұрын
@@TheHumblePenny Thank you so much. ❤️❤️❤️
@peterlomax3500 4 жыл бұрын
Great content, subscribed!
@GB-rt 4 жыл бұрын
Ken i can commit to £200 per month but such a sore saver i go back n take some so effectively not reaching my target. What would you suggest to do with this 200£ as an investment?? Help!!!
@TheHumblePenny 4 жыл бұрын
Hi G Star! I get you :) How about actually investing in rather than saving it? I made some suggestions in this video. Once invested, consider it out of reach. To stop you dipping in, how about saving an emergency fund first? 😀
@GB-rt 4 жыл бұрын
@The Humble Penny ..thank u. i have gone back through ur previous videos (as i am still new to ur channel) And i found one where u were giving advice for beginners ..i am literally making notes in my notebook!😊Will open the links u added and look into options. Like u said once in ested i cant touch..so out of reach. Think mayb invest 150 and keep 50 for emergency fund. U are a gem..cant thank u enough. Love n light to u n Mary
@chrisloizou7997 4 жыл бұрын
Hi Ken, thank you for another great video! You have been one of the driving forces in my life to start investing and saving for financial freedom. I have started an ISA with the following holdings and weights and would very much appreciate any criticisms you may have on it? I use a Trading 212 ISA. I certain understand if you cannot offer input on this and I am still very grateful for the great content that you keep putting out. Vanguard FTSE All-World (VWRL) 70% Vanguard FTSE Emerging Markets (VFEM) 20% iShares Global Government Bond UCITS (IGLH) 10% Peace x
@TheHumblePenny 4 жыл бұрын
Hey Chris Much appreciated comment 😊 What I like about your approach is your global focus. That's the right thinking.
@downwind_david 4 жыл бұрын
Hey Chris, my take on what you have done is that it is 90% shares and 10% bonds which would be considered a high growth & high risk strategy. If you are comfortable with the risk and you're younger with many years ahead of you to ride out the ups and downs of the market then it's a strategy you could chose. Just make sure you don't get cold feet when the market drops and sell - that'll be your undoing.
@chrisloizou7997 4 жыл бұрын
@@TheHumblePenny Thanks so much for getting back to me! Yes the global approach was my focus :) Stay safe
@chrisloizou7997 4 жыл бұрын
@@downwind_david Many thanks indeed for your reply! I read that the general rule of thumb that it should be 100- 30yrs old (my current age) - and this should equal the amount of equities I hold in my account? So in theory I should technically be holding 70% shares 30% bonds right? What would you recommened and do you reckon I have chosen then correct ETF's and such?
@downwind_david 4 жыл бұрын
@Chris Loizou I started investing when I was 22 years old and was putting 100% in shares. At the age of 27 I had about $40,000 as the tech bubble grew in the late 90s. Come 2000, the bubble burst and those stocks became $15,000. It’s how you feel you can handle those sort of events that will determine the level of risk you are willing to build into your portfolio. Yes, the rule of thumb is a good guide, but it also depends what your personal goals are. If you’re going to retire at 65 then you’ve got 35 years ahead of you, plenty of time to recover from market dips and take advantage of pound cost averaging, just as we have experienced in recent months. Therefore, the higher risk strategy is probably fine for now, but attitude to risk is a question ONLY YOU can answer. Personally, I’m 47 years old and planning to retire at 55, therefore I have switched to a much more conservative approach in recent years as I don’t want to lose 60% of my savings again as I probably wouldn’t have enough time to recover. As to the ETFs you’ve chosen, look at two things. 1) Is the ETF spreading my risk widely? 2) Are the costs low? If you can answer Yes to both then really it’s up to personal choice. Vanguard’s products are generally low cost, but even within their range of products some are below 0.1% and others are closer to 0.5%. All of these, however, are better than many managed funds that can charge 1-3% (or more!). Vanguard’s US shares ETFs has one of the lowest cost basis, so this would initially be tempting, but what if the US economy tanks. Therefore having all your savings there would fail question 1). I’m not saying you shouldn’t invest in this ETF, but one might only put a proportion of your savings here as part of a diversified portfolio. Obviously, as I am not a certified financial adviser, I can’t tell you exactly what to invest in or comment on the particular products you’ve chosen, but if you feel you’ve followed the general strategy I’ve outlined, then you’re going to be on the right track.
@chriso4464 4 жыл бұрын
You are a star 🌟 Thanks & God bless Ken
@TheHumblePenny 4 жыл бұрын
Thanks a lot, Chris O! 😀
@tomfisher7751 4 жыл бұрын
Also, I've set up an account with vanguard, and I'm using their lifestrategy funds. Is this a good one to invest in?
@TheHumblePenny 4 жыл бұрын
Life Strategy is a good ready made choice of portfolios. What asset allocation did you choose?
@tomfisher7751 4 жыл бұрын
@@TheHumblePenny I know it sounds bad but honestly I can't remember. Is there any way to view it? I picked their 80% stocks lifestrategy. I've also now changed it to invest in their S&P 500 as well
@tomfisher7751 4 жыл бұрын
@@TheHumblePenny Sorry, I misread your reply. I'm new to investing so I don't understand everything yet
@lolyschmoney 4 жыл бұрын
@@TheHumblePenny I put 100% on LS should I add SP 500 et do 50/50 ? thanks
@tankypoo285 4 жыл бұрын
I was watching an interview with a vampire, which got me thinking about saving money. The only way i would become a millionaire and get to see it, would be if i was bitten by a vampire.. Epic.... I'm gonna be looking at some shares etc.... Thanks for the information, and i intended to check out more of your videos and re-watch a few before i dive in.
@bakoserge 4 жыл бұрын
Brilliant video mate.
@ngozic9104 4 жыл бұрын
Thank you so much .very helpful.
@TheHumblePenny 4 жыл бұрын
You're most welcome 😀
@fintan2830 3 жыл бұрын
In my estimation ( and I could be wrong) £1,000,000 in 40 years will have roughly the same buying power of £300,000 in 2021 allowing for the same inflation figures for the past 40 years. Let's see if this assumption is correct in 2061!
@peterice1183 3 жыл бұрын
+ 1 ( 2 1 3 ) 2 9 5 - 9 3 8 0
@peterice1183 3 жыл бұрын
Chat miss juan.
@joycelynlewis5286 3 жыл бұрын
Hi Ken, what type of calculator did you use to get those figures????
@TheHumblePenny 3 жыл бұрын
Compound interest. You can google one
@joycelynlewis5286 3 жыл бұрын
Thank you so much. I’m such a big fan of your videos
@TheHumblePenny 3 жыл бұрын
You're most welcome :). We also have a free compound interest calculator on our blog. Simply head over there and search "compound interest"
@joycelynlewis5286 3 жыл бұрын
@@TheHumblePenny thank you 🙏🏿
@shaf1485h 4 жыл бұрын
40 years is a long time to put your money away and not touch it. With house purchases, car, home improvement, holidays and family. It's hard to save for long periods and without life getting in the way of becoming an millionaire investor.
@YvonneM125 4 жыл бұрын
And that is why only a few make it
@TheHumblePenny 4 жыл бұрын
It requires planning your life well. I actually don't think it's that hard to save for long term goals. A good motivation is to think of what the alternative life could look like without long term saving and investing.
@nadinehay1645 3 жыл бұрын
Thanks for the video !
@TheHumblePenny 3 жыл бұрын
Much appreciated 😀
@arkello4586 3 жыл бұрын
You are using a compound interval of monthly, is this realistic? Are index fund not compounded yearly?
@arkello4586 3 жыл бұрын
Btw big fan of your videos👍🏻 just curious
@borishills7058 3 жыл бұрын
Dm
@borishills7058 3 жыл бұрын
+ 1 ( 2 1 3 ) 2 9 5 - 9 3 8 0
@borishills7058 3 жыл бұрын
Dm
@YooMsBro 4 жыл бұрын
Absolutely love this video and I can relate to it with the 10 pounds a day :) Gives more motivation for the future and to continue investing at least this much or more if possible.
@headsandtails288 3 жыл бұрын
So inspiring! Thanks
@TheHumblePenny 3 жыл бұрын
Thanks so much 😊
@tj6544 3 жыл бұрын
That would be annuities of £300 per month over 40 yrs I suppose.
@jazza2834 4 жыл бұрын
Love the sentiment of saving and investment. However not everyone is in a position to put these amounts in investing. If you are on a very low income £20 a month might be even stretching it ( assuming they have an emergency fund first). It would be nice to see videos that give some hope to those not able to invest hundreds of pounds and are not in a position to work due to health or disability but would still like to do the best they can with what they have.
@TheHumblePenny 4 жыл бұрын
Thanks for the suggestions 😀. What titles do you suggest?
@jazza2834 4 жыл бұрын
@@TheHumblePenny Saving / investing on a tight budget. A few pounds can make a difference or Making the most smaller investment . Thanks for considering my suggestion .
@theresalechi98 18 сағат бұрын
Hello. Good stuff. Can I get an illustration for 600 pounds monthly in a period of 20 years? I'd appreciate a reply
@alamale24 3 жыл бұрын
YES FREINDS ALL GOOD THANK YOU
@eulynwebb3690 4 жыл бұрын
Thank you Ken...
@TheHumblePenny 4 жыл бұрын
You're welcome!
@cowmonkey1000 4 жыл бұрын
If you dump £50 on the stock market and double your money every year you'll become a multi millionaire in less than 20 years, simple.
@hajeralanazi8379 3 жыл бұрын
I really need to study the basics of finance 😩
@TheHumblePenny 3 жыл бұрын
You're in the right place for the basics! 😉. What basic questions do you have?
@stephenlovett946 3 жыл бұрын
Get a grip interest rates will not be 0.1% for 40 years Buy Tesla shares every month You will be a Millionaire in 9 years
@anon4518 4 жыл бұрын
Wow, thanks
@TheHumblePenny 4 жыл бұрын
🙏🏽
@justinauchendu2896 4 жыл бұрын
Hello Ken, I love this analysis. How do I start investing my £300 every month. Which investment platform can I sign up and start putting my money for better returns please. Thanks
@TheHumblePenny 4 жыл бұрын
Please watch my video on "Investing for beginners" 😀
@alamale24 3 жыл бұрын
thank you freinds
@juliagardner1383 4 жыл бұрын
I wanna investi, just not in Fossil duels or arms dealers
@TheHumblePenny 4 жыл бұрын
You can invest in SRI funds that exclude fossil fuels and arms. SRI stands for Socially Responsible Investments. There is a growing number of products in this area. Look up JustETF.com and filter by their ethical funds
@juliagardner1383 4 жыл бұрын
@@TheHumblePenny thank you so much for this info
@asrafjean944 3 жыл бұрын
try the forex !! Massive gains are over there
@cacophony3130 2 жыл бұрын
Are you a millanior
@williama-d6 4 жыл бұрын
It's risky though
@TheHumblePenny 4 жыл бұрын
Crossing the road is risky too 🤔
@petejames4672 4 жыл бұрын
@@TheHumblePenny what happens if your broker like, vanguard, aj bell, or Hargreaves just for instance go bankrupt? Thanks
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