Just an update to my last post in this sub. I had just reached 80k at the beginning of the year. I'm hoping to reach 100k by end of this year, I think it is achievable, if the markets are willing that is.
If you saw my last post you'll see what I did to get here but I'll recap:
Holdings:
I have a conscious tilt towards US market, I may decide to rebalance my portfolio after 100k but I'm keeping it simple for now.
60% VUAG
40% FTSE global all cap
I deposit £833.33 a month, but I make a variable income so I can often contribute more at the end of the month.
Disclosure:
I stay living with my parents, and have part time caring responsibilities for one of them.
They do not charge me to live with them so I get to save money on rent, groceries, etc. but I do contribute towards household expenses at my own will. I am extremely grateful and owe so much of my financial success to them.
I am a full time student, work part time, own a property with a mortgage which I rent out. The rental income, working part time, and student loan helps offset my monthly expenses.
I worked from age of 15-now in many jobs, in hospitality work which included a management job which earned me an annual income of £35k+ for more than 2 years which is how I was able to save up a deposit for my flat.
I've been financially curious and disciplined from a relatively young age, that is what allowed me to save as much as I have. I have siblings in the same position as me, living with low expenses, same opportunities and education levels, but they haven't built up the same level of savings which is largely to do with differences in discipline and priorities.
I’m not saying this to compare myself or say I’m better than them, but I think it’s worth mentioning that a lot of young people in these kind of subs get criticised for having “parental money/support" when in many cases it’s actually consistent habits and discipline that account for most of the progress.
I do recognise that I’ve been fortunate, and I’ve used this position to help guide my siblings towards better financial decisions. At the end of the day though everyone should approach their finances in a way that fulfils them.