Become a millionaire and live off £140,000 tax free income for life

Individual Savings Accounts (ISAs) are the key to becoming a millionaire

How a person or a couple can use their ISA allowances to build a pot of money worth over £1,000,000 and details as to how long this might take.

Saving tax - the absolute basics

ISA refers to the UK's Individual Savings Account. It is a tax-free package for savings and investments. For the tax year 2016/17, UK residents have the option to invest £7,620 in a cash ISA and £7,620 in an  investment ISA. Alternatively, you could invest  £15,240 (or as much as possible) into an investment ISA. For the purposes of this post those outside of the UK will have to refer to any tax-free package that the government offers but the principles are still the same.

However, the theory in this article is assuming the ISA annual tax allowance of £15,240 from the year 2016/17.

Money Millionaire Theory

In theory it is very easy to become a millionaire, we will discuss the practicalities later on. To get the most out of this post it would be a good idea to download the free spreadsheet I have created by clicking on the picture opposite.

The (right) table assumes that you are one person saving to become a millionaire. You invest your full ISA investment limit (£15,240) into an index tracker, fund or share related product. You reinvest your full ISA allowance each year, topping up the total pot. I have assumed an annual rate of return of 7% per year. As you move down the last column you can see that the interest is compounded each year and you are topping up the amount invested in the third column. In the first column you will observe that it has taken you 25 years to become a millionaire and you have only actually invested £381,000 of your own money to reach this point, the rest is from the magic of compounding.

Theoretically, you could become a millionaire even quicker. If you were able to utilise the couples ISA allowance which is double a single person's allowance, at £30,480. A married couple could invest this each year and build up a pot worth over one million in 17 years time. They would have had to invest a total of £518,160 of their own money to do this, however this is only £259,080 each over the 17 years (£1,270 per month!).

Why would you want to use ISAs?

Other than the fact that you can boast about how you're a millionaire, there is a very important reason to do this. Imagine a couple both aged 25 who do this. They save hard and invest intelligently and patiently. After 17 years they are both aged 42, they can retire. Why? Because they are earning a household income of over £70,000 per year and it's all tax free. Furthermore, if the couple were patient enough to save for another 8 years until the age of 50 they could be seeing return of £140,000 per year, tax free, for the rest of their lives. This would be a very comfortable retirement. It's so simple, why isn't everyone doing this? Because it's simple but not easy - many do not have the luxury of being able to save £1,270 each per month, however the thought exercise is a useful one. Always remember the miracle of compound interest.

Millionaire Practicalities

There are many things that can get in the way of becoming an ISA millionaire but there are some solutions to some of these problems:
Returns: You may not be a shrewd enough investor, the market might collapse, there is no way to guarantee those returns? On the contrary I believe I have been stingy with those returns. Firstly, I have not assumed any reinvesting of dividends (if investing in shares). This would give a huge boost to savings each year and hopefully reach the goal line faster. Secondly, if you take a long enough time line, say 20 plus years (which we are), shares yield a historical average of at least 7%. Even if you're not very good at picking share you could simply choose to invest in an index tracker to track overall markets, which should yield you this return.
Fees: These refer to the fees that you pay your broker or fund manager and can be considerable, eating away at the compounding effect. To avoid large fees choose an on-line share dealership that you manage yourself or choose an index tracker which tends to be relatively cheap.
Savings:  A legitimate worry would be that a person cannot hope to save that much each year. If you have dependants to bring up as well it can be even harder to find the spare cash to invest. An easy solution would be for a couple to invest together in one person's ISA allowance. This is very realistic. If you assume that the average annual income in the UK is £25,000 a year which means that a combined household income of £50,000 would be investing about 20% of their income into investment ISAs. 20% is what people should be saving anyway making this goal extremely plausible.
Some of you will retort, "but I don't have a spouse/partner?". This shouldn't stop you reaching this goal. There is no reason why you can't pair up with some friends to reach the same goal. It would be a little bit more complicated and would require a lot more care when setting up contracts etc, but still it is possible. I will write a post on this another time.
If ISAs change: I believe that now that ISAs have been in existence for a while, the allowance will not go down in value. It would be political suicide to do so or to remove them without replacing the with something equally as attractive. This is because it would be viewed as anti-poor as the original idea was to encourage the poorer members of society to save. A country needs to encourage saving to grow (I will not go into the economic explanation here, message me or comment if you would like to know more) and all governments know this.

Conclusions on the ISA millionaire theory

In theory anyone can become a millionaire. The only question is whether or not you have the patience or are able to make the sacrifices.

What do you think? How plausible is this scheme? What other schemes exist to make this sort of tax-free income?

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (, find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Destroy my debt!

Getting rid of my debt

Debt is like walking the path to become a multi-millionaire whilst carrying a giant stone. It's going to slow you down.

Take on debt???

First things first: not all debt is 'bad'. You need short-term debt to build up your credit score and you need a credit score if you ever hope to borrow money cheaply in the future, e.g. for a mortgage. The better your credit score (lookout for more in future posts) the lower the interest payments will be on any future debt. You need to take on short-term debt to lower future outgoings.
IMPORTANT: you need to understand what I mean by "short-term" debt. This should not require paying any interest at all. Ideally you want to get a credit card and USE IT. Try to replace all normal cash payments and debit card payments with your credit card staying within your credit limit. Don't use your credit card on your 'wants', only on what you 'need' and absolutely NEVER spend more than you can afford to pay-off IN FULL each and every month. If you pay off your credit card in full, straight away then you will not have to pay any interest on your credit card debt and you will be building a credit score. Remember: Not all debt is bad debt as long as you can control your spending to ensure you pay off your debt in full each month so that you never pay any interest.
"Not all debt is bad debt"
Other useful debt is a Student Loan. There's nothing wrong with taking on debt as a student so long as you have adequately weighed up the fact that your total income with a degree is greater than your total income had you not acquired a degree plus the student loan (i.e. Gain a Degree IF Total Income with Degree > Total Income without a Degree + Student Loan). If this is not the case then University is not for you.

What to do if you are in debt?

However, if by some means you are in a position where you have a pile of debt and large interest payments each month then don't panic. There are a number of actions that you can take to ease your situation:

  • STOP: Don't take on any more debt! Don't pay for debt with more debt. That means no more credit card debt, no more personal loans.
  • Frugality and Budgeting: If you're someone who has a lot of debt the likelihood is that you've been spending more than you can afford. It is very difficult to increase your income in the short-term so as an instant measure cut back your spending, be frugal and careful and begin budgeting (see my post on Budgeting). Spend only on what you want, not what you need. Over time you can look to increasing your income e.g. through overtime, working another job, selling on sites like eBay etc. 
  • Government Help: Most governments in the Economically Developed World can help those with serious amounts of debt. Search the web or contact your local council/ government/ state office. For those in the UK you can get free debt advice if you follow the link.
  • Negotiate: It is in the interest of your creditors for you to be able to pay. Use this to your advantage. Call up your creditors and explain that you cannot afford to pay their monthly interest bills but that you do want to pay off your debts. Hopefully they can lower your interest payments or extend the amount of time for you to come up with the money. Remember they would rather you paid than went bankrupt.
  • Replacement: Another way to make your interest payments lower is to replace your existing debt with a personal loan, secured loan (e.g. secured against your house), consolidated loan or a loan that has repayments over a longer period, all with lower interest rate. For more ways to lower your interest payments, have a look at 5 ways to lower your debt payments.
  • Principle Payments: Whilst you have debt you should not be saving. There are very few (are there even any?) savings accounts or investments that will offer fairly risk-less return that is lower than the interest payments on a debt. So in terms of giving yourself a boost to your wealth and earnings in the future you should always aim to pay off as much debt as quickly possible. This will reduce the amount of interest paid on your debt in the future saving you huge amounts in relation to just paying the interest payment. 

"Aim to pay off as much debt as possible"
I will illustrate this last point further with an example: let's say you have £1,000 of credit card debt which pays 24% APR. This means that your payments in interest alone are £20 per month. At the end of an extremely successful month where you have budgeted, been frugal and boosted your income you find that you have £1,000 left over. You have the option to put this money into an account that would pay 5% interest per annum. Would it be sensible to put this money aside and start saving? Of course not. Whilst you will increase your future cash flow by over £50 per year (once compounding has been taken into account) through savings, you would do a lot better by paying off your debt in full. By paying off the debt principle in full you have given yourself an extra £240 boost per year to your cash flow, money that you otherwise would have paid in interest. So paying your debt is priority after your NEEDS have been sorted. A further example of why paying down debt is so important can be found on
For more ideas follow the link to Reduce your debt.

A quick summary for dealing with debt:

  1. Stop taking on more debt
  2. Negotiate with creditors and attempt to replace the debt with a lower interest paying loan
  3. If it's serious and you can't do this seek government help and free debt advice
  4. Be frugal and budget to reduce expenses
  5. Attempt to boost your income
  6. Pay off your debt as quickly as possible

Personally I would try to avoid debt as much as possible. I even have a problem with mortgages, something I will cover in the near future.

What are your opinions on debt? Do you disagree with me? Are there better ways to deal with debt?

So the goal is to put that stone down and get on with your journey at a quicker pace. Go on, put it down.

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Student Life: How to make some easy money and go clubbing for free!

Making money as a student

An article on how students can make money for very little effort by building networks and how these skills transfer over to the on-line blogging world.

Before I came to University I had a pretty good idea about which company ran the student nights. My brother who also went to the same University some years previously kindly informed of the company that were the biggest organisers of student club nights at my University. That summer, I Facebooked the owner of the brand to ask if there were any jobs available. I explained that my assets were that I could network and reach I wide range of people, particularly since I was in 1st year and the majority of sellers would be in older years and thus, would not be living with and would not get to know many of the first years.

In Freshers' Week (first week of University for new students) I arrived on campus as an official ticket seller, earning 50p for every £4 ticket that I sold to the 5 different club nights the company put on each week. As an added bonus to the job, all entrances to each of the club night would be free and I would be a permanent member of the VIP list, allowing me access to special rooms and free alcohol. Furthermore, if I could sell more than 50 tickets for any one single event then the company would provide me with a bottle of vodka to take home.

Obviously these sorts of perks don't come without a price. I was expected to be selling tickets each week. If my numbers slipped I could be fired. I picked up the tickets (25 for each night - more was only possible if all 25 had been sold) every Friday and would return the money owed to the company.
The question was: how do I get my name out there and establish myself as 'the ticket man'?

Steps to make extra money as a student

Firstly, I went on-line to order free business cards. There are plenty of sites which offer this sort of service. Just type into Google: "free business cards". I ordered 500 free business cards with the names of each of the club nights with my name, address, bbm pin and phone number. In Freshers' Week I made ever effort to attend all sorts of events such as BBQ, bar crawls, dinners and handed out my business cards.
Secondly, I lived in a house in the heart of 'Student Land' and had the front window. So I put up a big sign "we sell tickets" for all students to see as they left their homes for lectures each day.
Thirdly, each of the club nights had its own Facebook page which the company itself uses to promote their nights to students. Each week I would put a message on each event wall with my phone number telling people to call if they needed tickets. Each time a person would call I would save their number in a special group and message that contact group once a week about upcoming deals and ticket availability.
Fourthly, I sold to my housemates, course mates, my friends and all their respective friends.
After a year of consistently promoting and selling myself, I increased my average ticket sales per week from 25 per week to over 100 per week. A mark of this success is demonstrated by the fact that I started getting messages and phone calls from various other clubbing companies asking me to come work for them for more commission. I chose to stay loyal and not take up any of these offers. You may be wondering why I didn't take up these more lucrative offers. I knew it would take me a while to re-establish these 'new' competing nights and I may have even lost clients since the nights I already sold for were quite established.

Blogging is a fairly new experience for me. There are a lot of similarities between ticket selling blogging. They're all about establishing a network and building those relationships even if they don't result in making any money straight away. In both scenarios it is quite possible that a non-profitable (purely in the money sense) relationship will remember you and recommend you to a friend who will do the same. As the word spreads and your network builds you can begin to see more opportunities to actually making more and more acquaintances and friends and eventually a little money.

What do you think? Do you agree with me? Are my skills at building networks in the physical world transferable to the on-line world? What more do you think I could do to raise the profile of my blog?

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Be A Smart Investor: Tactics To Make The Most Money

Smart investing

The following post has been contributed and provides an overview of alternative investment products. Please note that the following post may contain affiliate links:
Many would argue that investing is pure luck, and that there’s no way to predict the outcome. I’d argue the opposite, and in fact, there are a number of useful tactics you can use to put yourself in a better position.

While you can’t directly control the outcome of an investment, if you put yourself in the best position from day one, you stand a better chance. Like any financial transaction, the results can be unpredictable, but that doesn’t mean you’re blind. Far from it. Investing is a game, and any game can be beaten. It’s about predicting outcomes and planning for them.

So, if you’re new to investing, or consider yourself a veteran, there’s always something you can learn. Below, you’ll find several investing tips and tactics that will hopefully result in a bit more profit for you - good luck!

1. Invest less money, and think long-term


Rather than dumping down a 10,000 lump sum, why not invest a small amount each month? This way, you’ll have more control, and will be able to see the effects of your money more clearly. 200 a month is 2400 a year, and each year that will grow. Investing 10,000 upfront doesn’t really allow room for growth; you’re already at your peak.

2. Invest in something different


As previously mentioned, there are those that would argue investing is more of a luck-based pursuit. So, perhaps you simply need to take a shot, and have faith in a particular product or industry that is new to you. The best alternative investments are heavily documented, and they’re a wise choice. You can’t just follow everyone else like a sheep, and plant your money where everyone else goes. You have to choose something that may be risky, but will pay off big time.

3. Devise an investment strategy


Investing isn’t something you should attempt blindly, and that’s a surefire way to ensure you fail. It’s vital to devise a killer investment strategy, that can allow you to track your progress and determine your outcome.

A strategy should have multiple things. Firstly, you should have conducted thorough research into the market or product that you are choosing to invest in. Your strategy should allow for the biggest return on investment, and that sometimes means taking a risk.

For example, if it’s a choice between oak chairs and pine chairs, and pine chairs are currently dominating, opt for oak. That is assuming you’ve researched when and how oak becomes popular, and this rise is just around the corner. You’ll beat everyone else to the punch and your strategy will pay off! Literally.

4. Don’t invest everything you have; spread your money


If you blow everything from day one, you’ve just exhausted your one and only option. Hold some of that investing cash back for a rainy day, and to use in other places. You should spread your money by investing in multiple different sources. That way, if one investment fails, you’ll have another one (hopefully) blossoming. Investing is all about saving, and this way, you’ll save for a day when you need that cash most.

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Savings made simple

Boosting your savings

Disclaimer: I am aware that many of my references are suited to a UK audience however the process still works for anyone living anywhere else in the world. However the links will be less useful to you.

Why should I save?

If you are ever going to make your millions, serious savings is key. Forget trying to win the lottery (there's more  chance of you getting run over than you actually winning), forget gambling, forget your hopes of becoming famous by appearing on Big Brother. The surest way to become a multi-millionaire is to save. It's slow but it should guarantee your success. I have always thought that the mantra "slow and steady wins the race" was too oxymoronic (how can the slow person ever win the hundred metres!) to be serious but I think in the case of saving, it fits.
Now, by saving I do not mean that every now and again you put some money aside, nor do I mean for you to put every two pound coin in a jar. Saving should require a substantial portion of your income. It requires dedication and the ability to commit to a certain amount monthly.

With which Savings Account?

Before you can even start to think about saving you need to make sure you have the right bank account. Ideally you want to shop around every year or so for the best current account, paying the most interest or giving you the most benefits. We could all do with shopping around a little more when it comes to money as it adds up over the years. Then you need to attach a monthly savings account to this. Most banks will allow you this option to commit to taking a fixed amount out of your current account each month for twelve months. Of course, you can and you should always try to add more. If for any reason you've reached the maximum limit for your monthly saver, consider some of these savings accounts: Top Savings Accounts in 2012. Make sure you set up a direct debit for this monthly excess amount of money to come out of you current account.

Monthly savings, Really?

As you can hopefully now see, the ideal way of saving is to take money out of your account before you've even had a chance to spend it. Don't wait to see what you've got by the end of the month, you'll have spent it by then!

How much should I save?

I believe that everyone (excluding those with large debt-I will come onto this another time) can afford to save 20% of their NET income and net of anything you put in a pension (ASIDE: I will say a little more on pensions another time, however, to keep things simple you should aim to top up your pension as much as possible especially if your firm will match it. It's free money!!! You'd be mad not to take it). Some bloggers like Invest It Wisely advocate that if possible as much as 50%. Personally I find this too difficult. I would recommend starting at 20% and seeing if you could increase it over the years. One possible way of increasing it could be to commit to contributing at least 50%-80% of any pay rise allowing for a natural growth in the amount you save each month and still allowing you to enjoy some of you pay rise.

Use your ISAs (for a non-UK reader the same applies for any tax-free savings vehicles)

Make sure that you take advantage of your tax-free ISA (Independent Savings Account) allowance. You can invest in a cash ISA up to £5,340 before April 5th 2012. Follow the link for the best cash ISAs. This is a great way to avoid capital gains tax. If you have anything else left over invest it in an Investment ISA. You can also top this up with £5,340 and it is also totally tax free so use it.

This was just the basics of saving made simple. As you can see there's a lot more ground that I'd like to cover in later blogs. Feedback would be most welcome.

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

CoverrMe: An inception story

The following article is guest posted by Rob van Haaren. Rob is a Technical Analyst in the Power Systems Development team at First Solar where he works on integrating energy storage into large-scale solar farms. In the evenings and weekends, he works on a bunch of new ventures and projects, with most of them involving web development. Rob holds a BS in Innovation Sciences from University of Technology Eindhoven, and MS & PhD degrees in Earth & Environmental Engineering from Columbia University.

CoverrMe - the story

After we got engaged, my now (!) wife Caitlin and I wanted to raise some money from family and friends for our honeymoon. We wanted to take a more ‘visual approach’ in crowdfunding - and let our family uncover a collage of memories from the five years we spent together before we decided to tie the knot. With my limited coding skills, I built a website from scratch where people could literally leave their visual footprint on our campaign page (see it here) and we raised over $3,500.

The idea for the website stemmed from our annual tradition to put together a custom jigsaw puzzle made from images of the past year. So, for our fundraising page, we let people place ‘circles’ (of $10 each) on a fundraising canvas and uncover the image underneath it. Hovering your mouse over the circles shows the Funders of the campaign and their message to the happy couple! We believe that this visual feature increases conversions on your campaign AND that it makes funders give more to your cause.

Why start a whole new platform if we could have simply created a fundraiser for our honeymoon on GoFundMe or Indiegogo?

If we had raised money through GoFundMe or Indiegogo, these platforms would take $5 for every $100 that our friends and family would give us. This is quite high, especially given that there are really no costs associated with running a single page on a website... For us, the 5% fees wouldn't be a dealbreaker, but what we realized is that many fundraising campaigns on GoFundMe are for emergencies, disasters, or surgeries for people suffering from life-threatening conditions... Why does GoFundMe charge fees to these people? I am still baffled that GoFundMe raked in $370,000 of profits from last year's earthquake in Nepal where 8,000 people died and 21,000 got injured... Imagine how much more support could have been given if there were no fees charged to these campaigns!

So my wife suggested that after our own fundraising campaign, I should build a user interface where people can start their own campaigns for any personal cause. Our platform now hosts projects of the categories: traveling, medical bills, family matters and entrepreneurship. With, we want to support everyone who wants to raise money for their causes and make crowdfunding fun and free to the public.

We have just made the platform more mobile-friendly and have started reaching out to websites like this one to spread the word! Are you or is one of your friends or family members looking to crowdfund for a project? Let them know about CoverrMe! It’s free for everyone!

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Renting versus buying

Should I rent or should I buy?

An article to weigh up the pros and cons of long term renting over buying.

Didn't anyone tell you it's bad luck to walk under ladders

As an Englishman I am constantly told to "get on the property ladder" as soon as possible and hounded by family and friends telling me to aim to buy my first property as quickly as possible. It is no coincidence that we have a saying in England, "an Englishman's home is his castle" encouraging the romantic notion of owning ones' own home. Roughly 70% of UK families are home-owners, on the continent in France it is as low as 40% with many Frenchmen preferring to remain long term renters. Are we in any better position by owning houses as opposed to renting?
"your house is not an asset"
Recently a cousin of mine got married. I remember that there was a lot of angst about getting a deposit on a house before 'the big day'. Why such pressure? What would have been so bad about renting together, even for just a few years? It makes no sense that the first thing you do once you get married is to take on a pile of debt. Why do we never question our family and friends when they are advising us to buy? I once asked my grandma: "but why do I need to buy?". Her only response was the old inept mantra: "you have to get on the property ladder". This is not an answer, nor is it even an argument, it is just a misused saying that we are told time and time again.
I would advocate that you keep away from the proverbial property ladder.

What's wrong with buying?

  1. Bad Investment - Many is the time that a person argues that a house is an asset. This makes little sense to me. Let's evaluate this "asset": you had to use all your savings to put the deposit down, you've committed yourself to 25 years of payments, you have leveraged up four times your income and taken on a mountain of DEBT for your "asset", and bought a highly illiquid asset. Since when has anyone agreed it was sensible to taken on debt to buy an asset? In most cases you will eventually pay back roughly double what the house was originally worth when you include interest payments.
  2. Saving money - Many people will argue: "the benefit of the mortgage is that you will eventually own a house, saving you money in retirement/ later in life? Furthermore you could sell it and live off the money in retirement". The false logic of this is that it forgets that you will still need to live in a house. So your house is not an asset since you will not sell it without buying another house. Even if you downsize with a profit, there are still better ways to invest your capital.
  3. Make money - The housing market historically yields a return of 4% per year, whereas shares yield a return of 7%. It is an interesting experiment to see how much more wealthy you would be if you became a long-term renter and invested the excess amount into shares. There is an article that has done this for an american market. Try it yourself, it yields interesting results. Some would argue that those returns aren't guaranteed, however, if you used an index tracker of the FTSE100  or DOW, these are the sorts of returns you could expect to receive over 25 years.
  4. Hidden Costs - There are the obvious costs associated with buying such as the deposit, mortgage principal and interest payments. However there are far more costs to consider that most people forget about. These are property taxes, renovations, maintenance and repair-work, home-owners' insurance, tax on profits from selling, stamp duty. For all these costs, a renters' landlord would pay. This can add up to tens of thousands of pounds over the lifetime of a mortgage.

Some downsides to renting

It's not all cosy for the renter. You have to rely on your landlord to sort things. You need to ask permission to redecorate, or to change any of the structure. You still need to pay some insurance on your possessions (however this is far smaller than home-owners insurance) and still have to pay council taxes.

Living costs - Food for Thought

Never let anyone tell you that renting is "throwing money down the drain". It would be like saying any other good that you hire or rent is like throwing money down the drain as its not bought over the long-term. You're paying for a place to live and this is usually cheaper than mortgage payments. I'm not saying never buy but renting can be cheaper in the long-run, gives you more flexibility to move around (I hope to live in New York for a bit) and is less of a strain on your personal finances.
I hope to buy one day, but only when I can actually afford to pay for the house outright and once I have decided that I actually want to settle in a particular area. In the meantime I enjoy the idea that I have the freedom to move all around the world and to build up my pile of savings. It has even occurred to me that I may never buy a house. Logically there is a quicker way to build wealth with other people's money. So every time you make enough money top put a deposit down you buy an investment property with tenants and you get them to pay for the house, whilst you yourself also remain a renter.

What do you think? Am I missing something? Are there more reasons than I have considered for becoming a buyer, or am I right and I should continue to ignore defunct mantras?

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

What are the alternatives to investing in stocks?

Alternative investments

The following post has been contributed and provides an overview of alternative investment products. Please note that the following post may contain affiliate links:

There are so many ways in which you can invest your money, so don’t limit yourself to the conventional options. Sure, most people invest in stocks, but why not consider the alternatives before you do that? You might find a better and more fun way for you to make money.

Art and Collectibles

This is a great way of investing for people who have certain interests. For example, sports fans often like to invest in sports memorabilia. Those and other kinds of collectibles can be bought at low prices if you know where to look and might be worth a lot of money in the future. Old sports jerseys, signed sporting equipment, and match-day programs are all highly collectible. Alternatively, you might want to invest in art. However, the art world is pretty competitive, and there are a lot of big players in the market, so you will have to be on your toes to make money.


Gold is a slightly more conventional commodity in which to invest. Gold bullion prices are looking very good for investors this year, so now is a good time to invest. Gold is very secure, and it tends to retain its value very well. When the stock markets are looking and feeling volatile, as they have been in recent times, then gold is often seen as a safe haven. So, you could secure your money and watch it grow slowly if you invest in gold. You’ll also escape all the hassle and stress of investing in stocks and share as well.



Coins are similar to gold in many ways. Although they also have a collectible edge that you don’t get from gold bullion. People like to collect old coins and that collectability also helps to generate value, which makes them great investments. You can invest in modern commemorative coins or invest in old coins from centuries gone by. Those old coins often rise in value pretty sharply over time, so if you find a good coin at a good price, then you could make big money. It is a long-term form of investment though, so you shouldn’t expect to get rich quick.


If you do decide to invest in wine, you will have to resist the temptation to pop the cork and drink it. If you think you can do that, you should definitely think about investing in bottles of win. As we all know, wine improves in quality over time, and the price also rises too. If you have an existing interest in wine, then it should be pretty easy for you to make the transition from drinker to investor. Make sure that you store the bottles of wine in a suitable way. Most serious investors have a wine cellar that is kept at the right temperature at all times.

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