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How the hell am I going to do it?

 


Well isn't that the million dollar question. How am I, a mere undergrad from Berkshire, going to get to 1 million pounds in the next 15 years. Unless I start up the next Amazon or win the lottery (which really would be a miracle as I have never played and never intend to) then I have a hell of a way to go.


First of all I should clarify what I mean by 'making 1 million pounds'. I interpret this goal as by 2035 my net worth will be equal to 1 million British pounds. Having 1 million pounds net worth is very different to having 1 million pounds in your current account as whilst your cash is largely impacted by your income, net worth is a calculation of the value of the assets you own minus any liabilities you owe.
Some people would argue that reaching 1 million pound net worth will be easier than 1 million pound cash in your bank and whilst there is some truth behind that, having 1 million pound in your bank account isn't the most efficient use of your money. So in 2035 when I have reached my first net worth target, a majority of my money will be invested in either real estate, funds, bonds or stocks so my actual cash reserve won't be anywhere near 1 million.

I will be posting weekly with details of how my journey is going and how I have progressed that week, starting next week with some ideas of how I will get there. See you then...


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