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How To Invest To Become A Millionaire | Investing For Beginners.
In today’s video we’re going to be talking about how to invest a very reasonable amount of just £500 per month in order to become a multi-millionaire at some point in the future. This is a 6 step guide to investing in the stock market for beginners!
The first step in the process is just having the money to invest into the stock market at your disposal. Now it’s understandable that not everyone will have a spare £500 per month to invest, so I thought i’d discuss a couple of personal finance tips and personal finance principles that can help you create a budget for your finances better and generate a little bit of extra income too.
The second step is all about making sure that you’re in a financial position to be able to invest in the stock market. Before anybody thinks about investing, having good cash buffers in place is an absolute must, I call this the emergency fund.
The third step is ensuring that you have the background knowledge, you can YouTube search terms like “investing for beginners” or “how to start investing” or you can jump onto Amazon and start learning from some amazing books which i’ve studied (links below).
Step four is about knowing what investments you should make. There are so many questions that spring to mind when you’re an investing beginner such as “how to invest in stocks” “what stocks should i invest in”, “what ETF’s should i invest in”, “how many stocks should i buy” etc. It’s an important element that we’ll address in this segment.
Step five is about knowing the true power of compound growth and committing to investing consistently in the stock market for huge long term growth. Remember, Warren Buffet has made more wealth in the last 5 years on the planet than he had done for the first 70 years of his life… investing is a long game!
Step six is to finally get into the above mindset of thinking on a long term time horizon, forget about quick returns and cash grabs, and turn your long term investing mindset on like some of the most well known investors of our time like Warren Buffet, Charlie Monger, Ray Dalio and Mark Cuban.
Let me know down in the comments section what your investment goals are!
Here are the timestamps:
01:11 Step 1
04:20 Step 2
05:32 Step 3
06:35 Step 4
07:50 Step 5
09:04 Step 6
10:10 Like & Subscribe
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#InvestingForBeginners #StockMarket #UKInvesting
Disclaimer: All ideas presented within this video are that of my own based on my own opinions. Please do not consider any of these videos as financial advice as I am NOT a financial advisor. All financial decisions and choices made are solely your responsibility. The views shared in this video are just for entertainment purposes only.