It is true I actually made £497,000 profit on my investments but that is only part of the story. To achieve that profit I invested a total of £5.4 million, not all at the same time so we call it turnover, by that I mean if you invest a £1000 sell it and buy something else for a £1000 turnover is £2000, but it is the same £1000. It took many years and fortunately I was lucky enough to make greater profits elsewhere so it is only part of the story of how to secure a comfortable retirement. Also when the capital wasn’t invested which could have been for many months even years it was gaining interest which in the early years was up to 6% this has not been taken into account.
My reason for wanting to share this information is to help those who may be at the beginning of this journey, to understand how it works and hopefully consider the good points and avoid the mistakes. We all have a story to tell and I am sure that on this site they will be many and varied, some a lot more successful, others not so. The process will be episodic which will hopefully allow the topic to develop and not simply be my view.
My journey started with a total zero, no money, no help and certainly no prospects and to add to that I came from the North where licking pavement clean with tongue was commonplace, we had to eat!
The first and most important investment is in yourself, gaining knowledge and developing skills, if it costs, spend it to improve your future. Find something you love and are good at and do it. You first need an income but try not to sell yourself cheaply. We read daily about companies like Fevertree who start with the most obvious of ideas and make it work. So who makes the largest amount of money the employee or the employer? Assuming the company stays in business, eventually it will be the employer and they may even drag a few investors along for the ride. Don’t fall for the dream of being the next Warren Buffett, at least not until you are wealthy enough to take…
