@moneystocker: Is £100K the magic number to getting rich? It took me so long to get to this point. But now, as Charlie Munger says, I can take my foot off the accelerator a little bit! Why? Because once you get to £100k, the compounding returns really start to take effect. Last year, my portfolio grew by 27%, or £27k, just for doing nothing! Of course it's not like that every year. Trump caused my portfolio to drop by a TON this year, for example. But on average, over time, the market has grown by 10% a year. That means soon, my portfolio will be earning more in interest than the amount I'm adding to it. It builds itself! £100K might seem like an abritrary number (and it is) but it's a solid target that I think we should aim for. #PersonalFinance

James | Money Stocker

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Saturday 26 April 2025 06:10:00 GMT