I currently live in the UK, I've been working since last august at £26k. I have invested just over £6k in dividend paying stocks for about 10 companies. I get at least 1 dividend payment per month. I currently invest £1k per month.
Since I'm tired of working this shit job, is it possible for me to invest a little more, then quit, move to a low cost of living country and live off relatively small passive income?
The amount I get varies per month, this month I have received £65 passively for example.
I also released a few ebooks, I usually get around 1 sale per day at $2.99. I should mention that the £65 figure posted in the original post includes the profits from this
And here are the stocks I own. I started buying in January this year, I selected them based off safe dividend history because I know little about the stock market and currently don't have time to research in-depth due to my time consuming job.
Is my current situation okay? I've never really asked for outside help so I'd be very appreciative of any opinions on whether I'm doing good or completely goofing my finance
these are good, do you have any "high risk" ventures?
I got bored with stocks and index funds a long time ago, its like watching paint dry. I trade memecoins now.. still, I dont commit more than 10% of my portfolio to memes, i cant handle the sleepless nights
>>1317817
No, I only started thinking seriously about my financial future in January and I lack the knowledge to know which high risk investments are worthy, and I have no idea when opportunities pass me by. I've basically just researched a little off the internet and I'm convinced that wageslave life isn't for me, but I understand I might need to work for longer just to gain the capital.
I leave £5k in the bank as an emergency. I don't have a car either, planning on taking my test some point soon
>>1317822
youre doing the right thing by increasing your wealth. Now that you have a taste for low risk assets.. it wont hurt to try higher risk.
Give start-ups and crypto a try. I Been making good $$$ from them, compared to my mutual funds.
Dont quit your day-job yet.. Build your wealth more. 6k is nothing to live off
>>1317855
How do you find start ups to invest in? Is it just researching starting companies that you believe will do well in the future? What if they aren't listed on the market?
I'm worried about crypto currencies, I have no faith in memes and bitcoin is highly priced now
>>1317873
mostly just do a little research, and yeah, companies who you think are gonna be the future. Youre doing quite well actually.
It wont hurt to try getting into the property market too if you can afford it.. But personally i just prefer the market.. I cant handle dealing with dumb tenants
as for crypto, yeah its an aquired taste. but its lucrative due to volatility. I mainly stick to BTC
>>1317883
I'm looking into sites like Crowdcube for investing in startups at the moment, maybe I'll decide to invest some monthly into that.
I might want to try out bitcoin, do you just get a wallet and go to a site where you can purchase/sell bitcoins and it's as simple as that?
>>1317888
you gotta be prepared to lose what you invest tho, on high risk assets, but it pays big if it takes off. I hate to say it, but its more like gambling really..but thats what makes it fun
plenty of sites out there. like coinbase, just set up a wallet and trade. Start with BTC to get a feel for the market. Just take your time
>>1317975
I'm not planning on selling all my stocks straight after brexit. In fact, I don't plan on selling them at all, if the market drops due to brexit, I'll carry on investing and I have faith the market will return as normal
What's wrong with my current way of investing?
