8 Financial Goals for 2021 to create REAL WEALTH! (BEST FINANCIAL ADVICE for 20s & 30s+)

[@JohninRosc]

Just a word of advice from someone that retired 18 months ago (aged 57). I've been fortunate since starting work at the age of 16. I only worked for two companies both of which had good final salary pension schemes (the first of which I paid into from age 18). Enjoy the journey - you won't appreciate good times without some tricky times. Fabulous advice from Jennifer and I am not trying to undermine it - but just be aware that you will be retiring before you know it. As Jennifer alludes, if you don't learn how to be happy RIGHT NOW, then no future event will suddenly bring happiness. You can't make happiness dependent on anything. Great videos Jennifer - thanks.

[@djamburere]

Hi! Congratulations on your retirement! Wishing you health and happiness!

[@adamlewisparker]

Wise words 👍

[@atul9380]

Thank you John for your wisdom and sensible advice. Always makes sense for us who are younger to listen to those who've trod the path we're walking now.

[@LDNguitarlessons]

Love the 7th goal / principle here. Viewing your money as a way to bless others is so important and love that you live this out and encourage others to do the same. Most other money / personal finance videos neglect this so love that you put generousity at the heart of the way you live.

[@daviniawalker5997]

Love that you’re focussing on giving, not to make yourself feel good but to help others!

[@skywheeler5464]

Jen! Your hair looks so good like that!!!!

[@JenniferAMThomson]

Oh thank you!

[@MissAbsss]

I love it too. So rich

[@iffrarazaq1978]

i used to work in a call centre in a uk bank in the mortgages department and i used to get calls from customers all the time to calculate how much their monthly repayments would be if they made lump sum reductions to their mortgage amount. and it was significant. so i used to come home and tell my dad to pay lump sum reductions to his mortage and he would say they are going to charge him. then i would go to work and get the customer calls again and see the difference again. then i asked my dad to ask them how much the charges would be. then he went to the bank and found out. and we calculated it would be worth it to make the lump sum reductions. and he paid off the mortgage early. 1993 started the mortgage 2002 started making lump sum reductions to the mortgage once or twice a year 2007 paid off mortgage he would use the money he had saved because of the lump sum reductions to make more lump sum reductions and all compounding added up

[@Munchkinbaby777]

I have 5% to give pot every month. Since the lockdown a lot of it is buying things and services from my friends and family. I used to give to charity,but now I can see that my closest friends live off of it and usually I won't buy their products (I'm not really using any of this),but I've learned to give them as gifts to others and then I still have whatever is left given to charity I choose.

[@livingladolcevita7318]

I am 63 now and retired, by default as my wife died and I have inherited her pensions, and have been mortgage free for several years now, it feels great. It did take a bit of pain to get there though.Although not following your 10% rule. I used to do medical trials on top of my day job although it would take a bit of juggling and would get around £1000.00 pounds a time tax free and I would go and pay this into my bank and reduce my repayment only mortgage. I also used to teach the Flute and this money would manage to pay my general living costs and as a result my bank balance would increase

[@bettyslowwastelife9731]

I love that you talked about making it personal to you. Minimalism really helped me financially. I realised that I didn't need all the stuff.

[@LadyR489]

Absolutely loved it. Oh my ! Am very intentional with my finances . Am saving more than I spend and am glad you support the zero based budget.

[@JenniferAMThomson]

Wonderful!

[@jangzstarr]

Goal 7 💓 Absolute facts! In Islam it's always said "Charity does not decrease wealth" and this I personally found is so true, as it all comes around; so one should never fear giving. Love your advice and videos, thank you so much. I've been binge watching ^o^ and taking notes ^_

[@Joleisa]

Number 7 resonated with me the most. It’s something I do but I must admit that I need to be more consistent. Thanks for sharing your wealth of knowledge

[@JenniferAMThomson]

You are so welcome

[@iffrarazaq1978]

the giving 10% and having multiple sources of income resonated the most with me

[@withwilk7473]

The journey is often better than the destination. Although being retired seems nice from the outside. Doing something with your time thats productive and fulfilling will likely bring greater satisfaction. Its personal ofcourse, but from experience I have had years of "freedom and time" and i have had years without "freedom & time" and both serve a purpose.

[@JenniferAMThomson]

Such wise words - I completely agree.

[@albertoortiz9040]

Thank you for those words of wisdom..God bless 🙏 you abundantly 🙂💥❤💥❤💥❤💥❤💥❤💥

[@compoundcrew817]

Number 5 is a game changer! Just discovered this channel & one of my resolutions is to set aside 30 mins a day for FIRE, your content is top of the list!

[@laurahutchinson2312]

We made our first mortgage overpayment today after watching this video - thank you for sharing the MSE calculator tool! It's very motivating to see how many years we can shave off our mortgage!

[@JenniferAMThomson]

Fantastic!

[@matthewikhanea8671]

You've blown my mind with this video. Thanks.

[@JenniferAMThomson]

My pleasure!

[@chloe1615]

What an absolutely fantastic video! I'm 25 and only now discovering a totally different approach to personal finance. A great channel I hope so many see and absorb this!

[@JenniferAMThomson]

Fantastic!

[@deltagaming5005]

Great advice. Especially loved tip number 8. I am in the process of creating a third passive income stream. Once you get into this mindset it opens up a whole new world of opportunities that were right there in front of you the entire time.

[@JayCampbellMaximiseYourMoney]

You're so right about starting other income streams! They're like seeds that you plant to grow🌱 Brilliant video😅

[@JenniferAMThomson]

Absolutely!

[@Ventbuddies]

Everyone should watch this! I am so grateful I bumped into your channel. Thank you Jen 😊

[@rideawhiteswan]

Yet another top tip life lesson video. For years I have done the home budget, including money aside for investments & savings. I always seemed to have slightly less than what the budget said I should. It is the fun! Never budgeted for fun, the takeaways, Disney+ the hobbies. It is on the list now. Sure I'll see a difference soon. Thanks.

[@FilmBooth]

Thumbnail really pops on this one Jen! Happy New Year

[@JenniferAMThomson]

Thank you! You too! Look at you guys at 6/7k already, I was right with my prediction then. Here's to 50k by end of the year??

[@FilmBooth]

@@JenniferAMThomson our year ends on the 16th and I actually think that'll be the day we hit 7k hahaha amazing predication skills!!!

[@wiogirl]

Great message about giving 🙏🏻

[@JenniferAMThomson]

One I'm very passionate about as you can tell!

[@iman7510]

Your videos are so educational, I usually wouldn’t watch a video more than 15-20 mins, but I’ve watched this through fully and will be coming back to rewatch. Thanks a lot for making these!! Would you be able to make a video on how to pay off student loans (as in the £9.25k ones with maintenance loans)?

[@chair56789]

That mortgage overpayment calculator is a great resource. Thanks

[@bagmeister21]

Pension saving is huge, and I have noticed a lot of companies reducing their contribution levels for new or younger employees so negotiate harder for better contributions, it's basically free money.

[@jamesgray853]

Jennifer, I follow about 5 financial channel's like this. I don't want to name them but i'm sure you know them all. Your content is consistently so good and informative. Excellent video yet again! Thank you

[@JenniferAMThomson]

Wow, thank you! There are many great channels out there I know, just making sure I do my best with the platform I have :)

[@innadoroshenko9864]

wow, there is a lot of motivation to move on! we should start right now!

[@WoodyW2k]

Thanks so much, Jen. Just purchased Money Stacks and subbed to this second channel. Appreciate all you are doing and wishing you all a great year ahead ❤️

[@JenniferAMThomson]

Awesome! Thank you!

[@simoncook1325]

I paid into work pension 22 years ago for 3 years.Was deferred after that.Paid in 2K Just found it again and transferred to defined contribution pension.Transfer value 45K

[@zoe440]

Wow that's amazing! Great news.

[@nomvulavmoloko6255]

Coast number - never heard it before. Thank you for that eye-opener.

[@JenniferAMThomson]

More videos coming out on the topic very soon.

[@FinanceDee]

Great video, Jennifer! I completely agree, a lot of people can achieve time freedom much quicker than they thought once they crunch the numbers. & I have to say I love how much you encourage people to give. I am grateful that I was raised to give 10% no matter what, but great to see the message spread more broadly.

[@JenniferAMThomson]

Thank you - great comment!

[@adamlewisparker]

Great videos. Thanks for sharing your knowledge. Very inspiring ❤️

[@JenniferAMThomson]

You are so welcome!

[@bescientific69]

I haven’t bought my own place yet but I will remember the 10% rule- thank you for that info! 😄 Your hair is looking fantastic here too!

[@JenniferAMThomson]

Yay! Thank you!

[@pdpiper]

Not come across coast fire before. Its a great concept. Thanks for sharing.

[@JenniferAMThomson]

Thanks for watching!

[@liamhardy2875]

Thanks Jen. That was a really helpful overview and reminder for me. The Coast Fire model was completely new to me. My wife will welcome that as a wonderful discovery!

[@JenniferAMThomson]

Glad it was helpful!

[@adakole]

I was really inspired about your talk regarding giving 10% of my income as charity. I will commit to doing that this year. Thank you for the Video.

[@JenniferAMThomson]

Wonderful!

[@Jeff-gq2tq]

A great video Jennifer - I am asking my 20 yo daughter to watch and learn. I wish somehow had taught me this at her age. Thank you. Happy New Year and best wishes for 2021.

[@laagankaayo]

7 th and 8th!! THANK YOU FOR THIS

[@JenniferAMThomson]

No problem!!

[@jessd4414]

Great advice as always. I always thought financial education and financial independence was out of my reach coming from a working class background but with the simple steps you've mentioned I've gained confidence and the knowledge to take control of my finances. By the way your new hair colour is lovely. It really brings out your freckles

[@JenniferAMThomson]

Thank you so much for the kind comment!

[@Kilnahushogue]

So good, I've watched it twice already and shared with a friend. Fantastic advice and content as always Jennifer. Xx

[@JenniferAMThomson]

Thanks for sharing!!

[@sidkings]

@25:00, point 7. I hear banks like Triodos are ethical and quite altruistic in how they operate and the programs they run using depositors money. I don't bank with them myself but I would imagine it's a way to manage your money and help people. It's perhaps not for everyone as thier fees are quite high.

[@JP-om3ou]

This video is jamed packed with great content. Keep it up

[@JenniferAMThomson]

Appreciate it!

[@atul9380]

Thanks Jennifer for another excellent video full of content. I really appreciate the aim of giving as part of this because, at times, it feels like I wouldn't know what to do with the money and financial freedom even if I had it. I honestly believe FI or being work-optional is a worthy ambition for anyone but on the journey, once you realise what the value of things are and not just their prices, what does freedom really look like for me? Having that aspect to help others can be something for us to feel proud of and inspire others to do the same.

[@Herineambiyo_]

New to the idea of COAST FI, very inspired

[@cherelled6419]

Thank you Jen x Number 7 really resonated with me.

[@JenniferAMThomson]

You’re welcome 😊

[@EuanCopeland]

As you said number 7 is very important! One of the things that is newly implemented into my system!!

[@JenniferAMThomson]

Love this - all the best for 2021 ahead!

[@EuanCopeland]

@@JenniferAMThomson thanks Jennifer & you!

[@firrzananadem]

Seriously they should teach these things in secondary school

[@OlleyThorpe]

the teachers don't do this.... thats why they are teachers. looking back at school Im not sure what I learned lol

[@Hugh2007]

Enjoying your videos! Great tips that can be applied by the average person like myself to grow/improve personal finance. Looking forward for more videos! Fan from Singapore.

[@aquelinyferreira2940]

Thank you Jen, for the fabulous vídeo, for teach me so much about financial education. I wish 2021 full of health and joy! ❤️🙏

[@simonkensington-fellows889]

I finally picked up your budget template - thanks for all the great content :)

[@JenniferAMThomson]

Awesome, thank you!

[@chloechurcher3592]

Love your thoughts on giving!

[@macaulayturner]

Another BRILLIANT video!

[@JenniferAMThomson]

Thanks again!

[@janewhitzend688]

Fab info Jennifer. Hadn't heard of coast but its pretty much what we are doing 😉.

[@JenniferAMThomson]

Wonderful!

[@ronnymp9919]

This video was amazing Mamafurfur tip number 2 and 7 absolutely awesome!

[@JenniferAMThomson]

Happy New Year Ronny - feel free to review any more of my videos in 2021!

[@mene_millions888]

Happy New year Jen Wishing you and your family all the best for 2021..... Thank you for all the value you provide 🙌🏼🙌🏼🙌🏼

[@JenniferAMThomson]

Happy new year!!

[@iman7510]

What’s expected growth and what do you mean by 7% of expected growth? (20:42)

[@niallbishop1075]

Outstanding advice - keep up the stellar content @MamaFurFur 🥇🦉

[@loverboyhk]

My lady...you are amazing!

[@Windy3s]

Number 7 has really inspired me Really great video thanks so much 😀🙏🏾

[@JenniferAMThomson]

You're so welcome!

[@richardnewton1800]

Great video, thankyou for the content and advice you provide. You have truly helped to change the financial future of our family.

[@JenniferAMThomson]

You are so welcome!

[@andybird6539]

Inspirational as always, mortgage overpayments and giving in 2021, thanks for these weekly videos they have certainly changed my budgeting and investment plans for the future. Happy New Year.

[@JenniferAMThomson]

My pleasure! Happy New Year!

[@PrettyPennyClub]

Another great video. Solid advice throughout. Thanks, Jennifer

[@JenniferAMThomson]

You are so welcome!

[@06waitek24]

Thank you for explaining Coast fire this is brilliant !! Part time work is the aim for me so Coast fire means I may be able to do this is 8 or 9 years!! I would also highlight rather than giving 10% to charity if that is hard give your time. I must 'give' 2000+ a month to the Charities I support not in cash but in my time and it also help me stop other spending when I'm bored.

[@JenniferAMThomson]

Absolutely agree on the balance between giving time and giving money too - I always preach about giving our money as this is a mindset change that really does change the heart of people once you do it. That is my goal - that money is just an amplifier of what your heart shows rather than something that controls us. Here's to a fab 2021 for you and hitting that COAST number.

[@anyasyht]

Amazing advice! I love the breakdown of CFIN!

[@praktycznyangielskionline]

Thank you for the video. Happy 2021.

[@JenniferAMThomson]

Happy new year to you too!

[@sarimiqbal7961]

The last goal is a game changer and beautiful ❤❤❤

[@RonkeOdewumi]

You have such beautiful hair. Enjoyed this video. Thanks for sharing

[@JenniferAMThomson]

Thank you so much 🤗

[@sujatamahay4712]

Pension was really eye opening thank you x

[@kbvlog8511]

Just about to graduate uni. I’ve used all of my savings this year and been working crazy over time and still in my max overdraft from moving out of home in first year! Cannot wait to get back on track! I used to be such a great saver before uni☹️

[@andyn2172]

Great informative video, good to see a UK base channel :)

[@JenniferAMThomson]

Glad you enjoyed!

[@sanvo3864]

Excellent video! Thank you very much

[@JenniferAMThomson]

You are welcome!

[@jv8studios]

Live within or below your means , good advice

[@JenniferAMThomson]

Absolutely!

[@mpersard]

Great video. Very helpful. Best wishes to you and your family for the new year. 👌🏽🙏👏

[@JenniferAMThomson]

Happy new year!

[@babylon_bob]

Excellent advice as always

[@JenniferAMThomson]

Thanks again!

[@sukhbirkapoor309]

Excellent video. Fortunate to see on first day of year. I sincerely appreciate all efforts you put in and great fan of your videos. I liked giving away 10% of the earning. This is one of the part of Sikh discipline . Thank you for exposing the 8 goals snd the templates. Where can I get the templates you shared ? Thank you so much !

[@LA-fr7fx]

Thank you!

[@UmarKhan-bd3bz]

Mama Fur Fur 💋 you 💕 you useful information appreciated.

[@JenniferAMThomson]

You are so welcome!

[@BrummyGirl37c]

Gorgeous hair Jen. Happy New Year

[@JenniferAMThomson]

Thank you! You too!

[@topformwear]

Mama fufur i just love the name lol i live in paisley i love her vanguard tips and fees help me alot happy new year mama fufur.

[@JenniferAMThomson]

Happy new year!!

[@MrKunalchinchole]

Very inspirational

[@Chillednfunked]

Mama you are like a smart Lorraine Kelly, great content

[@JenniferAMThomson]

I think she is pretty smart anyway too but thank you!

[@dylanwemyss6394]

Love the content! Are you able to do a video on getting a credit card and which ones are good to go for once turning 18 or just in general? It would help a lot! Thanks.

[@BIG2hats]

My favourite Suga Mama!

[@emmamackt]

I love your words of wisdom

[@kerilizmon]

Great video - gave me a lot to think about, especially as I would like to go part time at age 50(ish). I wish I’d been taught this stuff at school as my journey into investments/financial stuff only started last year so I feel late to the party. But today it better than tomorrow when it comes to investing so am going to keep at it. Going to check out your other videos now. Thanks.

[@JenniferAMThomson]

Glad it was helpful!

[@DCphoenix]

Thank you so much for this usual video. It has given me serious food for thought how to both budget for retirement and to beat inflation too. I was wondering around 18min, what does the average rate of return means, and how do you calculate to find out? I.e, how did you work out it was 6% from the figures of Monthly household expense, current savings ands saving investment contribution each per month?

[@joken8028]

Wow. You are amazing. New subbie and excited to have found you. Where did you learn all this great knowledge? Any book suggestions?

[@dominikakalinowska]

Thank you for the great advice! But what will happen if I will want to go for the pension scheme, but I will be changing jobs like every few years? I have to start again? I just started my journey with it and I am slightly confused but willing to learn! Thank you!

[@donolivia7501]

Hi do u recommend the forec trading then? I’ve always been intrigued but just don’t understand it

[@ianmcgrail6482]

Have you looked at moving your pension to a SIPP pension in order to set your risk higher while you are younger ie 12 %pa age 18 to 35 then reducing it to 5 % later in life

[@Ohana-6831]

I would love some advice re beating debt when someone has ADHD and (as a result) impulsive spending. I am determined to get on top of my finances and be debt free 🤞🏻

[@JenniferAMThomson]

Hi Nikita I would say for a few weeks track your spending BUT more important track your spending triggers as well - note down how much you spent, on what but what emotions you felt that made you spend too. Tackle it as an exercise to understand your feelings and what the spending might be trying to cover up and face those if you can instead. Putting together a "Get out of debt" plan would be straight forward but looking at your emotions and triggers will lead to life long success :)

[@Ohana-6831]

@@JenniferAMThomson Thank you so much for your advice :) I have purchased your budget spreadsheet (best impulse buy yet!!). I can’t wait to get started and work towards a debt free future

[@multipoli]

Happy New Year

[@JenniferAMThomson]

Happy new year

[@frugalspender2142]

Really enjoyed the video! 😃

[@JenniferAMThomson]

Glad you enjoyed it!

[@deanwild4971]

Great video. My only comment would be that investing rather than overpaying the mortgage would possibly yield greater returns no? Although I get the psychological satisfaction of reducing the mortgage duration, hard to put a price on that.

[@rutube007]

As a newbie, I am confused between Nutmeg and Vanguard. Nutmeg fixed allocation has 0.45% fee. Vanguard shows 0.15% account fee and 0.22% fund ongoing fee. Does that mean there is only a 0.08% difference in fee? I am wondering if it's worth paying that for nicer app. 🤔

[@kevinomalley1521]

This is some of your best work to end 2020! Well done and here's to an exciting 2021. Meant to ask, which video editing software do you use? Maybe a video idea there too! Happy New Year.

[@JenniferAMThomson]

This is very kind of you to say - thank you for supporting my work. I use Final Cut Pro X for my edits and we also have an editor for most of them to give me back some time.

[@cboyerrrrr]

I love your videos...... Have a happy healthy and prosperous new year 🥳💓

[@JenniferAMThomson]

You too!

[@dipeshmistry8797]

Great stuff!!! 😀

[@JenniferAMThomson]

Thanks! 😀

[@thomascarr3032]

With over paying the mortgage by £62 you save £3,291. Could you not invest that £62 instead at 6% instead and get a total interest of £17.6k over that 22 years? I know its risky, but what are your thoughts on this?

[@JenniferAMThomson]

We invest and pay off debt/mortgage as sometimes it isn't about the maths for "best deal" but what matters lifestyle wise. For us that means being mortgage free completely then less outgoings required. Great question!