By now you’ve probably broken and dispensed with your 2013 New Year Resolutions. Fair enough. Wine is good and chiselled abs are for Hugh Jackman.
However before you toss ‘sorting out your finances’ onto the rubbish heap of ‘things-I’ll-do-when-I-have-time-meaning-never’. I’m kicking off 2013 with a series of blog posts designed to get even the laziest procrastinator (is there such a thing?) to take the vital step of setting up a Child Millionaire portfolio by the end of January.
The goals are:
1) To provide you with step-by-step guidance for setting up a Child Millionaire portfolio in one day that requires one hour of maintenance per year.
2) Costs you nothing out of your pay
3) Will generate a portfolio in the region of £40-80,000 / $60-130,000 by the time your child is 18
4) Will turn your child into a Child Millionaire by age 35 and multi-millionaire in his/her 40s.
One day and one hour a year to create a Child Millionaire and alleviate yourself from the years of work and toil needed to support your child later in life and to give your child unfathomable choices in life.
You need to do this NOW.
Before we look at how to setup the Child Millionaire portfolio, let’s review and summarize the Child Millionaire investment formula:
Shares in high quality dividend-paying companies + annual increase in dividend payout + annual appreciation in share price + automatic dividend reinvestment (compounding using automatic reinvestment) + monthly automatic contribution + lots of time = Child Millionaire, even after inflation.
But don’t stress yourself with this formula or needing to know anything about markets and investment, I’ll show you how to set it up and automate it all.
So how do we build a one day Child Millionaire portfolio?