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Can't stop wasting money

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Original post by ma_long
Anything as a side hustle is good as well, whether that is reselling phones or giving tuition. But those are active forms of income, you ideally want to make money while you sleep, that's why dividends and bond coupons are good. The money just rolls in on time, this month I'm getting around £160 in dividends. I use that money to buy more incoming producing assets. So the snowball gets bigger and bigger.


ooh that's swick dude, it is always nice to have a little bit more! This must have taken a long time :frown: I am mega impatient lol
Original post by Applepiex3
ooh that's swick dude, it is always nice to have a little bit more! This must have taken a long time :frown: I am mega impatient lol


Well that £160 this month is from around £54,300 in stocks. But I have some stocks which pay no dividends, as I balance income and growth. If you went for pure income, you could yield 5.5% on the £54,300 easily right now. That is around £2600 for the year which is around £215 a month.

The trick is to reinvest the income, that is the compounding effect, once you start earning interest upon interest 10-15 years down the line your income explodes. Plus with growing dividends and compounding, you can have around £500,000-£600,000 in 10 years if you add £1500 a month.

In 20 years you would probably be looking at a portfolio worth £3 million to £4 million and in 30 years you are looking at £10 million to £15 million. These are conservative estimates, if you invest well you can have even more.
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Original post by ma_long
It's better to have less than £100 in your bank account, just put all the money in a brokerage account in the market where you can't touch it.


Yeah okay, I'll just setup a brokerage account at 16 years old :P

Not everyone with money spending problems is 18 plus, and I don't even know how old OP is

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