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  • lukeparsons5

The Road to £1 Million - My Starting Net Worth!

If you have read the homepage you will know my personal wealth-building mission is to become a millionaire by the age of 40. And I wanted to share this journey with my readers, hoping it will inspire you to reach your own lofty financial targets!

So in the first post of this series, I wanted to share with you my current net worth, the net worth I am aiming for by the end of this year and how I plan on becoming a millionaire in just 11 years!

Metalhead Investor's Net Worth

Throughout my life I have been in the habit of saving money even if I didn't need it. I have always lived below my means and rarely made impulsive purchases.

During the pandemic I managed to save even more than I normally would, as I was no longer going out with friends or spending money on petrol or lunch!

In November 2020 I started learning about passive investing and how to build long term wealth, so I have been putting my money to work since then!

Anyway without further ado, here is a breakdown of my current net worth!

As of September 2021

Personal savings: £21,382

Investment portfolio: £9,483*

Matched Betting bankroll: £1032.00

Pension: £23,800

Estimated value of owned car: £2,000

*includes £2,725 high-risk crypto positions

Total net worth: £57,697

My goal for the end of 2021 is to hit £60,000 net worth, which I think is certainly achievable.

I plan to do this by putting at least £300 p/m towards my investments, I estimate to make £300 p/m through matched betting, plus a £57 p/m pension contribution. There's a bit more money to find there but if I sell some unused stuff I will probably get there just about!

How I plan to become a Millionaire in just 11 years

I'll be transparent here and say that I won't be able to make a million in just 11 years by contributing only £300 a month to my investments. Nobody could do that.

In fact with my calculations my investment portfolio would be just shy of £80k if I did this, so I need to find a way to generate a higher amount of income to be able to increase my monthly contributions.

I plan to do this by growing this website, helping as many people like you as I can to save money and build long term wealth through frugal living strategies and passive investing!

Even if becoming a millionaire doesn't concern you, I want to help you reach financial freedom, whatever that may look like for you. Teaching you how to avoid suffering shitty money problems is very fulfilling to me.

I hope you will share your successes with me. I want to see you reach your first £10k, £50k and £100k! My emails and DM's are always open, so feel free to fire those numbers at me when you get there so we can inspire others!

Your successes are my successes and vice versa!

Lets build long-term wealth together!


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