How to become a millionaire
This book is definitely not one of those ‘get-rich-quick’ books, but I will let you into the secret of becoming rich (fairly) slowly with little effort. The sacrifice required is only £100 per month. To make the calculations easier I’ll assume the £1,200 saved for the year is invested all in one go at the end of each year.
I’ll use real numbers; those based on evidence that we have. The key number you need to know is the average annual return achieved on UK shares over the past 50 years.* This has been 11.3%. This includes dividends and capital gains.
I’m now going to make two assumptions, but I think you’ll agree they are not unreasonable ones. First, that the average annual return received by investors over the past ...
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