£10,000 to £1,000,000 in 6 years - Journey of a Chronic Income booster

chronicsaver

Hi everyone, hope you've had a great week and will have an even better weekend.

Spreadbetting - -£197 (unrealised loss). Still holding out my positions on these! I'm expecting the FTSE to sell off again this week.
Tutoring (2 hours a week) - No more tutoring unfortunately!
Stocks and Shares ISA - £0 but one of my shares has soared this week.
Matched betting - £35
Work income - £250 (I save £1000 a month from my income)
Cashback - £0

More detailed assessment on my blog.

A lot of you have talked about me providing proof. Seeing as we're going to be entering a new month, I'm definitely going to start doing that now. I.e only on my spreadbet and betfair account. I'll document these on my blog - if you want the address, then please PM me. More than happy to share

chronicsaver

Just to add, I'm going to add horse trading to my portfolio of savings.

Broken_Biscuits

as in buying physical horses, paying for their upkeep and the land they live on, paying for someone to train and exercise them and then sell them on after fothat for a profit, do tell more?

i think some of your recent doubters are probably doubtful because you often only give a very short version of the story. Your ideas are often what you intend to do rather than what you have done.

id be very interested to know more about the horses idea, especially since i read (a few years ago now) that horses were fairly cheap but still a bit of a luxury due to the very high upkeep costs (food, vets bill, land costs, and obviously a huge consumption of your own time)

best of luck with the horses.

i took a bit of a punt myself on Friday, just a small one, but put £500 into a Russia fund. Its made losses solidly for 4 years so feels a bit wrong, but maybe its hit the bottom and now up is the direction? im quite well diversified and hopefully if some of my other funds move down over something like a rise in oil price then maybe the Russia fund will go up? We shall see. diversification into horses isn't really an option for me, ive got enough room for a few chickens i guess, but not sure what the cats would think about that!?

chronicsaver

Broken_Biscuits wrote: »

as in buying physical horses, paying for their upkeep and the land they live on, paying for someone to train and exercise them and then sell them on after fothat for a profit, do tell more?

i think some of your recent doubters are probably doubtful because you often only give a very short version of the story. Your ideas are often what you intend to do rather than what you have done.

id be very interested to know more about the horses idea, especially since i read (a few years ago now) that horses were fairly cheap but still a bit of a luxury due to the very high upkeep costs (food, vets bill, land costs, and obviously a huge consumption of your own time)

best of luck with the horses.

i took a bit of a punt myself on Friday, just a small one, but put £500 into a Russia fund. Its made losses solidly for 4 years so feels a bit wrong, but maybe its hit the bottom and now up is the direction? im quite well diversified and hopefully if some of my other funds move down over something like a rise in oil price then maybe the Russia fund will go up? We shall see. diversification into horses isn't really an option for me, ive got enough room for a few chickens i guess, but not sure what the cats would think about that!?

Haha I'm definitely not buying horses. It's horse trading on betfair. Happy to inbox you some stuff on this.

"i think some of your recent doubters are probably doubtful because you often only give a very short version of the story. Your ideas are often what you intend to do rather than what you have done."

I provide a short account because I'm quite a busy person (i know that may come across as arrogant, but that's not my intention). I'm away from home most of the time, so as soon as i get back from work I'm too tired/don't have the time to post screenshots etc. It's fair for people to doubt, but like I've said countless times I've never once claimed to make obscene amounts of money (as some have suggested). One guy on here even tried to call me a liar on one topic, until he was proven wrong. Didn't even have the decency to apologise.These are the same people that will sponge off your ideas when they see the proof, henceforth I'm even a bit hesitant to even share publicly now. I'd be more than happy to share via PMs as I've done with many people already. I also wouldn't mind sharing ideas publicly, but that's all - how to execute is a different story

Also you talk about how I talk about just ideas. Again, people on here have asked me countless times how I plan to reach my target and countless times I've responded. The only idea I've suggested anyway was the sports arbitrage one of £180 a day. Whether or not anything comes out of that is debatable. Everything else, ie spread betting, stocks and shares etc, I'm actually putting into practice. I'm still in the formative stages of achieving my target, so ideas are of course going to come and go for now!

Broken_Biscuits

got you, more gambling effectively.

what is it they say, the best way to end up with a small fortune from the bookies is to start with a large fortune.

i don't have any problem with lack of proof, its the lack of content.

C:im going to do something with horses!
B:what are you doing with horses?
C:something to do with betfair.
B:oh gambling on the races?
C:its not gambling!
B:so what is it then?
and it goes on....

i think your posts could be quite interesting uf you took a bit more time to add some content to them. I havnt given up yet

chronicsaver

Broken_Biscuits wrote: »

got you, more gambling effectively.

what is it they say, the best way to end up with a small fortune from the bookies is to start with a large fortune.

i don't have any problem with lack of proof, its the lack of content.

C:im going to do something with horses!
B:what are you doing with horses?
C:something to do with betfair.
B:oh gambling on the races?
C:its not gambling!
B:so what is it then?
and it goes on....

i think your posts could be quite interesting uf you took a bit more time to add some content to them. I havnt given up yet

Yh got you. I guess that's my fault and my lazy nature. I really cannot be bothered to detail things. PM me a list of the types of content you want to see.

w00519772

chronicsaver wrote: »

Yh got you. I guess that's my fault and my lazy nature. I really cannot be bothered to detail things. PM me a list of the types of content you want to see.

What stocks and shares ISA do you have. Do you invest in funds or pick the shares yourself?

chronicsaver

w00519772 wrote: »

What stocks and shares ISA do you have. Do you invest in funds or pick the shares yourself?

Pick shares myself and have 1 fund. But that fund is an index tracker, not an actively managed fund.

Broken_Biscuits

you see my point about content from a few minutes ago, well w00 will have to ask you another question to get the answer to his first question now.

and sure this thread is about you. You started it about yourself. Fair enough, but you will need some interaction too. People post something, you reply about your thing with a lot of spaces where the content should be and don't take an interest in the posters comments. You may well make your million in 10 years, but if you want to document it and for people to follow, well it has to be interesting.

you could have said which tracker you have and what research led you to pick just that one ahead of a more traditional balanced portfolio. you could have said What shares you have or least what sector they are in and why you picked those shares. You could have had a comment on my choice to put money into an actively managed failing fund. You could have given some details on any of the things you are doing really. (you could have worked out that saving £1000 a month is worse than £250 a week too - and if shown as 250 a week at year end will leave your calculations a grand off the real figure...)

10 years is a long time and i hope you do it.
i would say for me, if lady luck is very kind to me i could achieve somewhere around 250-300k in 10 years. But that's without huge amounts of risk. Id expect my worse case scenario to be not hugely off this figure. Rather have a slow approach where total returns are smaller but there's no element of wondering whether i will end up with next to nothing from taking on too much risk!

w00519772

chronicsaver wrote: »

Pick shares myself and have 1 fund. But that fund is an index tracker, not an actively managed fund.

Can I ask what provider you use and how often you invest? The reason I ask is because I would like to start selecting my own shares but only have about £2k. Everyone tells me on here that this will not be possible because the transaction costs would outweigh any gain.