I had about £65k in student loans (graduated 8 years ago). I got lucky and got a £40k payout from company shares. I immediately paid off my postgraduate loan (8.5% interest rate) and most of my plan 2 loan (~6.5% interest rate) when Liz truss crashed the economy because the interest rates had risen. I now have £20k debt leftover. It doesn't go down, it's a lifetime tax that most will pay double the original loan value in their lifetimes. On average I earn £100k a year, 29 years old, and I don't have enough money for a house deposit... Thinking of moving abroad. What a brain-drain country the UK is.
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager
Make no mistake it is a tax of 9% of everything over £25. If you become a high earner it will cost you a fortune in your forties and fifties. As a graduate you would hope to earn x4 £25k in 30 years time
It's honestly super disadvantageous. I have two student loans and I pay back almost £200 per month which I will never see for another 21 years after paying it for 6. To put it into context, 27 years @ 200 a month is £64800. Ridiculous.
This is dangerous advice. I attended university when it was 3k a year for the course and 3k a year maintenance. Im on a well paid job in finance which i started in 2009. Its taken me close to 15 years to repay these loans in a job i could have trained in without university. Had i put these repayments, plus the time i lost not working earlier, into a pension, id be able to retire many years earlier. Only go to university if you absolutely have to for your desired profession or come from money.
Slightly misleading video, if you don’t pay off the loan early enough you will be losing out on hundreds of pounds a month which you could have invested to help you retire earlier.
It’s awful that they expect parents to contribute. It should also be postcode representative e.g.) Brighton living costs are more than Sheffield so a child with HH income of £60k will get slightly more if they’re at uni in Brighton than at Sheffield
@@Stettafire my story too. Mates used to use their ‘left over’ loan for going out whilst I had to work just to cover rent. Their parents earned more than mine.
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Evelyn Infurna. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I know this lady you just mentioned. Evelyn Infurna Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Evelyn Infurna has demonstrated expertise in investment strategies n has been involved in managing portfolios and providing guidance to clients.
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Evelyn Infurna. I am at $128k right now and LOVING that you have to bring this up here
