How To Retire In 8 YEARS With £20K Income TAX FREE every year - The maths of financial independence

How To Retire In 8 YEARS With £20K Income TAX FREE every year - The maths of financial independence

A very common question that is asked is how do you really use the stock market to drive a passive income and can you really support a life you want to live. In this video, I'm showing you the step by step method that allows a normal person to achieve this using an Investment ISA wrapper account to invest and how to numbers show that you could, in theory, retire with a £20k income within 8 years if you put your maximum effort to it. I hope you enjoy!

and you might even have your name mentioned on one of my upcoming videos!

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If you enjoy this video, HERE IS MY MONEY BASICS that I teach:

HOW TO START A MONEY STACKS METHOD BUDGET - Achieve Financial freedom, goals, Savings & Investments

5 MINUTE FINANCES

💵How to Open an Investment ISA (Stocks and Shares ISA)

Intro to Investing
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My products you might love:
AutoPilot Money System for all your budget, financial freedom calculations, debt repayment system, Net worth calculator, Sinking funds and Investment Tracker

The only step by step course that shows you how to design a Budget that allows for financial freedom and also creating the life you want. Check out my
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TAGS : #FIREcommunity #investing #money

[artabrilta]

Super useful video! I've gone through four years of university, and only now I realise that I don't want to be an employee, so I'm documenting my journey to financial freedom 😊

[janewhitzend]

To ppl who would struggle to put away the large amounts, please don't despair. Just put away whatever you can for now.
14 years ago we were in the same position, small kids, one income etc..we struggled despite having only a mortgage as our only debt.
Being frugal, getting a side income ( only small but it helped) and chipping away at the mortgage intentionally has put us in a much stronger position.
If things are hard for you right now it doesn't mean it always will be. Set yourself really small manageable targets.
Savings challenges can be fun and keep you motivated, even small amounts make a difference .

[jamesgray]

I’m 30 now and started investing this year! I only wish i’d started 10 years ago 🤦🏻‍♂️. Awesome video 👍🏻

[myfirejourney]

I got obsessed about fire, investing and personal finance about six months ago and I’m hooked.

[finlaysutherland]

I’m just grateful that I was able to educate myself on personal finance at the time I did.
Currently 21 and been investing for just over a year now

[DafyddMorse]

I’m loving this content so far. Just found your channel today. I retired from teaching last year (aged 36). I was banging on about compound interest (it is on the GCSE maths syllabus 🤭) to all my students. Interestingly it was not the academic students that were that interested. It was the colourful characters who didn’t really fit the education system!

[pambowell]

Wish I had known this 20 years ago, but never too late, thanks Jennifer been following you for a few years learning new things from you always

[christines]

Excellent video as always. Thank you. I opened a Vanguard ISA and invested in a LifeStrategy fund in after watching some of your videos. So far I have invested just over £10k and will continue until it is maxed out at £20k.

[kmwilkinson]

Absolutely love the concept and I invest aggressively into my stocks - although £1, 666 per month I wouldn't consider to be "retirement" money but definitely a good passive and additional income alongside a job.

[dazhibernian]

Compound interest is the 8th wonder of the world - Albert Einstein.

[lukerobinson]

I just started investing i am 18 i have about 1.6k soo far

[SimonDingley]

I find your content really useful and informative and I agree this sort of financial education should be part of the school curriculums. However, to me those numbers are just not representative of what an average household could achieve in my opinion. I don’t know anyone that that has the ability to save £1600+ per month after paying living expenses.

[TheMoneyBaoBab]

Love this video. I watch it over every now again to remind myself but it's great to see a path clearly mapped out. Although the % investing rate required is high for the average person, it's still so powerful to (there is something quite mind-opening (is that a word?)) to see a clear route to how to achieve your goals!

[ducatinya]

Very good informative video for beginners to FIRE. Just to add that you can only invest money in one ISA of the same type per tax year. Basically there are three types of ISAs: 1) Cash ISAs. 2) Life time ISAs. 3) Stocks and Shares ISAs. 4) Innovative finance ISAs. 5) Help to buy ISAs, which is obsolete now (you cannot open a new one anymore). You can deposit max £20, 000 spread on any of these accounts, but if you have lets say two Stocks & Shares ISA, you can only deposit in one of this type the same tax year. Failing to that, can incur fines from the government. I hope it makes sense.

[beingkindiscool]

Incredible, as always!! I'm talking this through with my kids! Brilliant!! Thank you for sharing your knowledge with us!

[JacoBrownolymetal]

Hi, good video! The only thing I don’t understand is how can anyone deposit £1667 a month every month for 8 years?! Or am I missing something. Thanks

[solaire]

Great advice, if a little simplistic. One wonders what your inexperienced followers will do when they have been invested for a few years (or months) and suddenly their investments drop 40% ( or 56% as the S&P did in 2007/8) with no end in sight, as inevitably will happen. Remember, in hindsight it’s easy to say how much money we made post 2008, but at the time, the media were all telling us this was another 1929. Will their nerve hold? Let’s hope so, but very few inexperienced investors make rational decisions at such times, and many cut their ‘losses’ and jump out. It takes a strong will and the experience of living through such events to ignore the media doom mongers that will bombard them at the first minor hiccup in the markets. Keep up your positive and important message, but include some rational explanation of what they will inevitably face and just how hard it is to weather such storms, when their nest egg is decimated and continuing to plunge. It’s not as easy as it sounds, but when stocks are going through the floor it is only the experienced investor that continues to buy.

[presterjohn]

I've argued for years that maths in schools focuses on completely the wrong areas. Book keeping, budgeting, accountancy and investing the fruits of your labour are what the majority of us actually need to learn about algebra, not so much.

[bc]

Jennifer I love your videos could you please do a video on why you don't personally invest in property but chose the stock market instead

[FreeyourFinance]

A really important lesson for people to learn. I wish they showed this video in schools. I would be retired sitting on a beach in the Maldives by now haha 😂