Why Saving & Investing the first $10k & $100k is the HARDEST - How to save or Invest money fast

[@thomasbingham4894]

I pass 10k when I get paid on Friday woo! Was in my overdraft as recently as August. Once your mindset is changed there’s no stopping you!

[@JenniferAMThomson]

Outstanding achievement Thomas - thanks for sharing that

[@MrRutty1984]

3 years ago I couldn't save £500, now I have over £10,000 to my name and own my car. Great feeling.

[@marta9649]

@@MrRutty1984 Congratulations!!! I started to watch this channel few days ago to learn because I want to invest money I have to rent flat and I don't want to do it till the rest of my life

[@yarrumblob]

Thomas Bingham how is your journey coming along now?

[@Dimasstywan]

Congratulations

[@camerongawn]

In 4 months I managed to invest 4K as a student! Lots of extra work on top of my course but it’s been so worth it.

[@JenniferAMThomson]

Amazing!

[@lee-13]

What changed my mindset - 25th birthday with $100 in my savings account and $3,500.00 in credit card debt, 17,230.00 in personal loan debt! I was like nope . I educated my self and change my mindset. While I’m still in debt, I’m beyond focused! Just working on side hustle to help my journey!

[@nateb4930]

I felt that

[@tjay7372]

I'm in the same boat.. I'm 25. 26 next month. Only started to financially educate myself recently. Slapping my head that I didn't know about this from my mid to late teens... Good luck 👍🏾

[@rufdymond]

I think for everyone who still has a job, they should be saving/investing as much as they possible can...the next few years are going to be tough, we need to be ready for anything.

[@spadhnik]

Exactly. I was saving but never investing. It I am thinking same as yours and have started investing now. Anything can happen in coming year in uk. I am worried of taxes going high and ending up with less income .

[@Dimasstywan]

55K away to a 100K seems like a long way to go and I split it throughout assets...hope I will made it before I turned 30

[@devinparker1748]

14k away from 100k ... getting impatient!

[@JenniferAMThomson]

So close!

[@NicolaatTheFrugalCottage]

We’re SO far from £100k invested it’s ridiculous and seems so far out of reach. Will continue plodding along though!

[@darkdrakekeeper6759]

Great video as always! Thanks for the links, they will be very useful. Keep up the good work, you make a positive difference to people 👍

[@Yologism]

I'm sure others have told you this, but you are absolutely excellent in your delivery and content😊. Thank you🙏🏾

[@JenniferAMThomson]

You are so welcome - very kind comment and thank you for being a good soul to others xx

[@AB-qo2xq]

Never knew they paid more tax in Scotland...

[@DreamClean]

I have three years to reach my goal of £100,000 by 30. I just ticked over halfway.

[@masonbrewer2497]

Is it just me or or am i excited seeing my whole vanguard portfolio dropping massively 😂discount time

[@kianantambi1279]

mason Brewer I’m new to Vanguard, what do you mean when you say discount time if you don’t mind me asking

[@awilliams7796]

Kia Nantambi lower prices!

[@soff9486]

I wish I had discovered this 10 years ago. Thank you so much for providing all these precious information :)

[@arsenalfootballuk]

Your videos are inspirational! Thank you 🙏

[@kaylahendy9774]

Would love a video about the plummeting stock market right now and what to do / what to buy to take advantage of it! x

[@JenniferAMThomson]

Great question. What to do - continue what you have been doing. If you normally buy, then everything is on sale - if you don’t then perhaps look into the cycle of how prices goes up and down to avoid emotional reactions to anything that happens economically. If you have funds, remember nothing is lost until you choose to sell - the daily “on paper” estimate only matter if you are selling that day.

[@ucesarr]

I am buying my little monthly amount as usual. Preparing my budget to buy X2 in the upcoming months. :)

[@kerrylow6894]

@@JenniferAMThomson ive seen my portfolio plummet to 1% so i put extra money in this month to get extra cheap shares (i think thats the way its worked)?

[@BenHurren]

To quote Ayn Rand "So you think money is the root of all evil. Have you ever asked what is the route of all money?" 😊

[@barbilue]

Would you recommend putting the lump sum in the investment or drip feed . Thank you very much. Your video always inspires me

[@christinapendl365]

Really useful hearing all the figures! And seeing everything grow too! Thank you. I would love to know how you would start saving for a family house from 0 at these times? We are based in London.... Everyone says to not pay rent and buy but how to save while you are renting with kids and working from home....

[@makedollarswork]

Side hustles and passive income can make such a huge difference! 🙌 That combined with smart investing does the trick. People very seldom get rich from their 9 to 5 alone.

[@griso107]

Excellent video..really appreciate all the effort you put in..your content is very motivating 👍

[@macmcc4651]

Im Earning 47k a year working shifts as electrical engineer. On my days off shift. I work as a kitchen porter. Which does not pay much but it has really leveraged my investment isa stack

[@StupidIsTheNorm]

Another great video Jennifer. Thank you

[@JenniferAMThomson]

You are so welcome!

[@belladigitalworld]

Thank you Jennifer love the advice! X

[@Oliver-db3rf]

This was really interesting thanks! The thought of maxing out an investment ISA is scary though, for me I just keep thinking what if the stock market crashes and I lose everything! I spend too much time thinking about everything that can possibly go wrong haha

[@katiavione]

Oliver O'D if you’re thinking long term, you don’t need to worry too much about stock market crisis. It’s going down at the moment because of the Coronavirus, we can simply look how long it’s going to take for it to go back to previous growth and keep an eye for similar circumstances in the future, especially when you’re close to the time that you’d start withdrawing a bit every year.

[@Rhino11111111]

@@katiavione if you look at a graph of the s&p 500 you could have bought at the top ANY TIME in history other than this year because it is too soon then you would have made money!

[@cameronmmj9291]

The S&P500 has survived numerous crashes and major world conflicts and its always set new highs after. After a 30 year time horizon your risk of losing is basically 0

[@allanp4474]

I’m learning so much about making my money work for me.... thank you! I’m getting closer to taking the plunge in investing 😀 But how do you know what interest rate % you are getting with investments? As 5,6,7% would be great to have.

[@Rhino11111111]

You wont know until the end of the year when you look at your portfolio. Some years will be high other years will be negative. Last year the market grew 30% this year its currently at -10% so thats 20% in 14 months not bed hey?

[@JenniferAMThomson]

Spot on advice Ryan - thanks for adding that detail in reply

[@clair233]

I haven't been able to find any savings accounts that procure 7% or close, higher I found was the HSBC regular saver of 2.75% for one year.

[@JenniferAMThomson]

HI Clare - to gain high interest rates above normal bank rates you really need to invest in companies which is why I am passionate about investing in the stock market.

[@yarrumblob]

Hi Clare, you will need to open a stocks and shares ISA.

[@cameronmilne3590]

Clare I'd give vangaurd a look. They have very simple to understand, low cost index funds that give you great equity returns within a well diversified portfolio. Like anything, do your own due diligence but I've currently got a return on investment of 7% in only 3 months (started investing March of this year)

[@mjlives7338]

Would you it be better to do a mump sum to get to 10K faster or better to drip feed?

[@mdsazzadkhan6340]

I m 33 and got 18k in my work place pension, i invested on index fund .whoop whoop

[@dellamantle355]

Love this video! Thanks!

[@KyuubiRNG]

Just wondering, I followed ur tutorial on vanguard and am slowly investing £100 into the life strategy 100% equity fund, but if I have a bit more saved monthly since I am living with family for example, would you suggest i put it all in there as much as I can? Would that be the safest option?

[@papershark]

Ultimately you have to make your own decisions on this, and you will have to reassess your investments as you go through life. For example... I have high, medium and low-risk investments. I have money in vanguard stuff, and as it is more than 20 years before I retire I regard it as low (my assessment). If I was retiring next year, I would regard it high... because the value of it dropped quite a bit in the last few days. But I might be quite happy to have a portion of my money in high/medium risk stuff after I retire.

[@TheDropdeadZed]

@@papershark If you're planning to keep the money invested for 20+ years it should be in high risk if you want the highest returns. Low risk is for if you're actually retired and might need to sell the shares/receive dividends next month, thus a HUGE drop would really hurt you.

[@cashkitty3472]

She can't give you individual advice as she is not an IFA

[@LevelUP84]

I wish I had all this knowledge when I was young. 36 now. Feels like I’ll never achieve my goal some times and so bloody lonely.

[@sadieprice1205]

You can do it! I only started saving 3 years ago at 39. The most important thing is to set up standing orders so that you save a bit every single month or pay day. I have a little nest egg now and i can't wait to see how to save it more efficiently. Good luck😊

[@rufdymond]

It’s never too late - I Im comfortably off financially (now 58 years old) I only started taking investing seriously when I was about 30...it’s never too late. At 36 you still potentially have many years to do some serious investing.....start yesterday.

[@spadhnik]

You are not lonely. I did my first ever isa last week but should have done it ages ago. Keep it up!

[@Emma-do2ie]

Such a helpful video thanks! Would you keep the same ISA every year ? Max it out to 20 grand then add to it again when the new tax year comes? I can't see the find this answer anywhere!

[@yarrumblob]

Emma yes, exactly this.

[@kuhaku4224]

3:29 . Anyone know how to count how much we save and interest we get each year like this ? Wanted to try to count on my own

[@SnappingHangers]

Invested in an index fund for the first time in January. I'm getting a return of -8% lost almost £100. Worried because I can't afford to lose the little that I have

[@JenniferAMThomson]

It’s important to understand that you haven’t lost anything unless you are planning to sell your funds that day. All the approximations of growth are purely based on the day you bought compared to present day value. If you aren’t selling that day then you haven’t lost anything. I would look at my “How to time the stock market” video here and understand more about how the stock market goes up and down without fail, so that you understand more about what is happening and why people even see it as an opportunity to buy more whilst it is cheap. If you have bought an index fund, then you would need the entire market you are tracking to close down to lose it all - which could be hundreds or thousands of companies to close down in one go. I think it is important to learn how emotions are what drive the dips in the market (that is what we are seeing right now) and how long term they don’t matter.

[@SnappingHangers]

@@JenniferAMThomson Thanks for the reply. I might try to put in a little bit more whilst it's down so low, but it does feel a bit like gambling. I suppose it's because I am not yet used to investing. I try not to look at the market but I have a friend who keeps asking me how much money I've lost :D

[@cashkitty3472]

@@SnappingHangers you are gambling but the longer you leave the less risk it is because of value if money over time.

[@TomRyanElliott]

Thank you so much for this! Am currently doing £1250 ISA + £250 Help To Buy each month. Am wondering whether to up the ISA by £250 each momth as it's before tax and I'm not looking to use Help to Buy as would rather buy a fully owned property rather than smaller amount through help to buy.

[@zuzannao2870]

What's your position on cfd trading?thanks.

[@curtisdavis8594]

Good job! Increase deposit, Increase returns..

[@JenniferAMThomson]

Yes, thanks

[@MarcusT86]

Why the $ sign? Aren’t you in the UK?

[@MarcusT86]

Chris Humphries , it the principles are international, wouldn’t the Americans be undeterred by the £ sign?

[@DreamClean]

@@MarcusT86 Americans are very ethnocentric. Everyone recognises the $ but not everyone recognises the £

[@generalidakatana2561]

Girl I bought an index fund for £100 every month on Vanguard thanks to you but the plummeting percentages are giving me palpitations. Hope I’m not wiped out 😕😑.

[@JenniferAMThomson]

To be wiped out you would need all the companies in the index you bought, or similar, to go completely under - emotions spoil the investing process, and as long as you can handle the ups and down, just check when it is all over in a few months :)

[@generalidakatana2561]

MamaFurFur Oh Ok! Thank goodness for that. The financial illiteracy is real with me. 😁. I’ll try not to check every 5 minutes. 😑.

[@holycowbmxman]

I’ve got 2 ISAs but they are with an investment firm who charge 1% to “handle” them. How would I go about transferring them away from them and potentially into Vanguard or similar? Don’t think they are really producing the best for my money.

[@holycowbmxman]

Chris Humphries thanks for that, that was what I was looking for as didn’t want to void the ISA and start again with the same money.

[@rufdymond]

Get some advice....but you should be able to transfer any ISA to a new provider, it should be simple to do, and new provider should be able to do that for you. Never close the ISA yourself and transfer it, as 1 the transfer amount will count as part of your annual allowance, 2 it would also technically count as contributing to 2 ISA’s in the same tax year which could get you into trouble with HMRC. If you use the official transfer process then your annual allowance will not be affected....as I said get some advice if you are unsure of anything. The first meeting with a good financial advisor is usually free of charge and you shouldn’t need more than one visit for something like this.

[@Oggie60]

Another corker Jennifer. Thought of moving south of the border to reduce your tax burden? :) Only kidding!

[@cashkitty3472]

So you would have to put in £10k a year ?

[@cameronmilne3590]

Yes, ideally.

[@johnunni85]

Hello Jen.. can you clarify that compounding works in normal saving accounts of investments in stocks ? I thought investments don’t compound but grow/lose based on market conditions .

[@cameronmmj9291]

She's considering a conservative average over that period of time. The S&P500 has averaged around 9-10% over the past 30 years. Therefore, its reasonable to use the % as the estimate for your average return.

[@YoungDen]

Plus it's from the average of the stocks you would own.

[@davehole643]

how do you get compound interest on a stocks and share ISA?

[@yarrumblob]

Dave Hole by making sure you chose an accumulation fund that automatically reinvests your dividends.

[@yourenotwrong3511]

I took me a month to invest my first 10k

[@muhammadehsanullah2716]

Hi I have lost so much money in forex trading:( what is the best and the most safe way of investing 10k?

[@JenniferAMThomson]

Probably no forex trading :(. Best way to invest £10k would be either a good Cash ISA (where you know you can get a return) or look into Index funds and trackers in the stock market. Expect a return though within 5yrs+ - no get rich quick schemes here, but real wealth long term that doesn't disappear quickly.

[@muhammadehsanullah2716]

@@JenniferAMThomson Many thanks for great advice but the problem is that I don't have any experience :( Thanks again..

[@pdn9609]

You make the typical mistake IMO. You take an interest as a granted and project for decades. Wait till the stock market crashes to 50% or less and then it takes 15 - 20 years to recover. This is not science fiction. It happens periodically.

[@cashkitty3472]

Yes it's gambling at the end if the day