When I lost my job in the furniture industry, like most people, I started to apply for jobs in the same industry. Playing it safe I suppose. But deep down hating every minute of the job, the pay, the hours spent commuting and the limited lifestyle and future ahead of me.
It was during an interview that I was told, "Something tells me you really don't want this job", and he was right.
It was time for a change. A real change. A real life.
I'd spent years investing in the stock market on the side. This had helped me build a little nest egg and I realised this was the best way to grow money.
So I got my pennies together and had enough to invest £40,000 in my investment account and leave enough in my account to cover me for the rest of the year.
This would give me time to build my profits and work full time on the stock market.
I would also need to find other sources of income that could fit around my day job in order to pay bills so I could reinvest my stock market profits each year. See the Make Money page for the best I've found.
So how much could I possibly make?
My plan. Turn £40,000 into £1 million in 11 years.
Using a simple strategy I'm investing in shares from anywhere from a week to 3 months. Selling and buying back on calculated dips in the price if I believe a share has further to go.
I'm looking to make returns of 35% each year, which is a tall order but achievable.
Hopefully my earnings will be completely, or at least mostly, tax free, using Capital Gains allowances, Isa allowances and using tax free trading platforms once I've reached my tax free allowance.
Below is the full plan towards the £1 million.
11 Year Target = £1,085,744
Keep track of my progress below. Updated monthly or see my latest blog here.
If you're interested in trading for yourself, go to my trading guide for how to get started.
An important factor in keeping this plan on track will be building my other sources of income.
I've already started to build some of these and I have a feeling that these multiple streams of income could bring me to my £1 million target within 5 years. Totally outperforming my share trading income.
Year Target = £14,000
2017 Total so far = £5,256.81