Advice at 23
Hello everyone need advice I’m 23, turning 24 in August. I’m paid 50-55k a year. This is my financial plan ahead since I want to have a solid foundation at 30. What does everyone think?
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Right Now:
Saving £750 a month (currently on 10.6k)
Investing £100 a month into sp500 (currently on 900)
July 2026:
Change to saving £1000 a month
Continue Investing £100 a month into sp500
When Savings Reach 25k (for house deposit):
Change Savings to £500 a month
Change sp500 investments to £500 a month
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At age 30, ChatGPT says, all together I’ll be around 100k+ (any way you would tweak my plan to increase this number), since I don’t have any major purchases, since I have a decent car with low maintenance fees yearly. And I don’t really spend on like expensive shoes or clothing.
With the house deposit like 25k is like a foundation but I just want to keep on contributing to it, until I find a good one to buy and settle in.