This approach will be mainly targeted at UK investors, although many of the underlying ideas should translate well to other locations, such as the US and elsewhere.
The key points of this approach are:
- this is DIY 'Do It Yourself', rather than paying someone else (or an organisation) to do it for you, so it requires some effort from you (however, I'll show you how it's done)
- it is all about investing (and saving) to generate primarily income, rather than capital growth (although that should happen as well)
- it takes a fairly cautious approach to managing risks
- there is a focus on minimising tax liabilities
There are, of course, other ways to build up wealth - for example, through a company pension scheme or buy-to-let property. However, the house (or apartment) that you live in does not give you income and your pension is (usually) managed by someone else.
I do hope this will be of interest!
I am not a financial adviser and the information provided does not constitute financial advice. You should always do your own research on top of what you learn here to ensure that it's right for your specific circumstances.