Check back here for replays of our live coaching calls:
In terms of investment opportunities, have you heard of Hart Culture Credit Union (HC Credit union)? They stated they offer higher interest rates than the high street bank. I would appreciate your reflection on this bank.
03:10 – Multiple Business Under 1 Limited Company
I have set up a limited company for my coaching business.
05:00 – Selling Products and Services
As a business owner, it’s good to have various services that cater to the needs of clients, depending on what their needs are.
09:17 – STAY HUMBLE
14:48 – CROWD FUNDING (come back to this)
I’d love to know what you think of equity crowdfunding. What are the pros and cons? Has anyone had experience doing it? What are some important points to consider to ensure success?
I am new to the community and trying to go from financial security to financial freedom. My obstacles are fears around visibility and social media that I hope to slowly overcome by pushing pushing pushing.
Content creation seems to be the way for me and I am currently exploring what could be my niche. I keep going back and forth between “there are many things I could write/record about” (I am an experienced coach, a hypnotherapist, a linguist, a translator, a mum, an executive assistant and a handful of other things…) and “I know nothing and I have no idea what to talk about”).
I want to put myself out there but I want to do it properly – with a thought out strategy and brand. I don’t want to write random stuff and and I don’t want to write crap for my standards (sorry) because I changed my mind and I am no longer excited about the subject I chose.
Dear Ken and Mary/FJA Team,
Firstly my apologies for what may be a bit of a long-winded question.
I joined FJA a week ago and I’m at Stage 2 on the Money journey. Over the past week, I’ve completed a thorough review of my current assets and investments and I’m concerned about one in particular – the Generalli VISION Unit Linked Insurance Plan. I took out the plan in 2015 which has a 20-year term and my monthly premiums are EUR1000. As usual, when I took it out, the person who sold it showed me some fancy graphs and illustrations promising returns between 600 – 750k assuming 5-8% growth. The plan has the typical feature where huge fees etc are taken out in the initial years so the policyholder only starts to see gains from Year 9 onwards. At my last review, I found out that I’m not on track to get the returns I was hoping for – actually I will probably get between 3-5% : 281K @ 3%, 368K @ 5% or 486k@ 9%.
Fully understanding that actually returns of any kind of investment are dependent on market performance, this is still quite disappointing. This plan was supposed to supplement my pension at my standard retirement age, currently 65 (15 years from now)
My question is about content planning and executing. I have an Instagram page called “Thecomfymoney”, The main topics I make posts about are investing, personal finance, pensions and general good money habits and one day I want to make posts about have to make money from side hustles etc. I want to be able to have a content plan and make sure that I do not run out of ideas for my Instagram page.
I plan on starting a blog also and I feel I will struggle to come up with content ideas.
I have plans to make an “Introduction to Investing” Ebook as a lead magnet to start getting my email list going also. I will put this into the community once completed to make sure it’s up to standard.
Link shared during the call: 50 Breakthrough Blogging and Content ideas eBook
BUILD A SAVINGS POT
Hello there Ken and Mary
I hope you are both well. I was looking for your general thoughts given my current financial position and recent changes…
Like many, I have been saving and trying to get on the property ladder as a first time buyer. I have just purchased my first home (after a stressful time in a crazy market lol). It feels good to get on the housing ladder and although the deposit/stamp duty and fees has absorbed most of my savings, I am pleased to be paying into an asset. So now, I am hoping to build up my savings again…
I have been in a simliar role for the past 15 years and moved around different companies. I am bored, and would love to earn more in my role in project management or in a different industry but dont have experience. I am keen to also have a side hustle but I am not passionate about anything in particular. I have £20k of savings and continue to save. Buy-To-Let was the area I wanted to target but i would rather somewhere in London but can’t afford it. I’m 45 with 3 kids and would love to spend more time with my kids. What is your advice?
Links provided during the call:
Invest in cheaper properties: https://members.financialjoyacademy.com/courses/buy-cheap-properties-for-passive-income
I am writing a childrens biligunal book. I am self publishing.
I have found my illustrator, she will be starting the images very soon.
For the last part of making this book. I don’t know how to put the book together, how to design the book format, does anyone know how to get the book ready for KDP amazon printing?
Link provided during the call:
Hello Ken and Mary 🙂
Good to be here, I am new to the community and am familiarising myself with the resources. Thank you for the work you have put in! I have a question which you have likely answered many times before (sorry!)…
I am looking to create a blog that I can eventually monetize. I was going to use Squarespace to host and design my blog; mainly for ease of use and because I don’t have to worry about updates.
I have noticed that you discuss WordPress more, is this just a preference or are there reasons WordPress would be recommended over Squarespace for example?
Link shared on call: https://help.mediavine.com/en/articles/79355-in-content-ads-faq
Image shared on call:
SAS STOCKS & SHARES INVESTMENT
Nicky and I have transferred profits from one of our businesses into our SSAS pension and now have our first SSAS funds to invest.
We would like to invest in the stock market until we look for our next property project next year.
I have found out from our pension administrator that we can use Vanguard Investor to invest our SSAS.
And as I use Vanguard for my personal investing and like the platform, I’m going to do this.
When I chose funds for my stocks & share ISA I just chose a few funds I thought would perform well and offered some diversification.
Now investing a significant sum for our SSAS.
And being accountable to Nicky I feel a little more pressure!
I’m wondering if it’s just the same approach
– choose funds you think will do well based on the market/past performance
– spread risk across funds which offer some diversification.
Or is there anything else I should take into account when choosing funds?
I know you can’t give advice, but just from your knowledge, which funds would you be looking at if you were investing now?
I was hoping to share some current circumstances I am faced with financially and to get your advice.
I have a normal 9-5 job earning 60k per annum before tax. I have another part time job that gives me 15k before tax
My 9-5 job takes care of all my tax liabilities but the issue is the other 15k
Based on my earnings I am required to pay 40%
I urgently need your advice on how I can maximize my expenses and reduce the tax I get to pay before this financial year runs out in about 6 weeks.
I also want to set up a Limited Company to properly manage this same situation for the next financial year.
I found your video about that on youtube.
CREATE FACEBOOK COMMUNITY
I’m thinking of starting a free Facebook community alongside a blog. I have been in many free business groups where they just become a flea market with business owners trying to sell their wears to other business owners who are not their ideal clients…
BLOGGING OR YOUTUBE
I am considering starting a blog but am cautious that readers have become watchers… Would love to hear your thoughts?
Is it better to enter the property ladder as soon as possible (for me this would mean getting a two bed flat with hopes of moving up the ladder later) or wait until I can afford the property I really want (a three bed house). In both circumstances, I’d like to rent out the spare room/s. The main thing stopping me from getting “my dream house” is my current income. I’m also conscious of the leasehold v freehold debate. I currently live at home and though I contribute to the household, it isn’t as much as the average rent so I’m in less of rush to move out.
Also (this is a hypothetical question) if I was planning to get married soon, myself and my partner are in the position to buy properties independently of one another.
2. For the purpose of building wealth, is it better to buy separately or wait until marriage and buy together.
I have a buy to let 1 bedroom property that I am thinking of letting out to contractors as I understand that you can get a higher return on your money than normal lettings.
What’s ur view on this and how do I go about finding contractors/where do I advertise. Turning it into an Airbnb is also another option.