I will be rich

31/08/2007 by steve.bolton.

Five years ago, I was made redundant. I decided to set up my own business, vowing never to work for a big company again. I also vowed that, as I had been denied £2-3m in salary and bonuses for the remainder of my working life, that I would earn that in the next five years. I am nearly there. I adopted a portfolio approach, selling my time as a consultant, investing in high risk AIM market shares and developing web sites, initially on a commission basis to avoid any stock holding risk. One of my shares is aboiut to explode and make me financially independent, fingers crossed, famous last words! What my wife and I have achieved is effectively to have our mortgage covered as well - we have an offset mortgage which is now virtually covered by savings meaning our repaymentsare all reducing the outstandinmg caputal sum. Why don’t we pay it off, you may ask? Purely a case of liquidity, and particularly whilst we are both interim and no guaranteed salary. So in five years time, I will have a different story to tell - looking to build on the success and freedom I have enjoyed since shaking off the shackles of the daily grind.

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