Have You Drafted Your Will?

How many of you have delayed writing your WILL?

Don’t feel guilty; I’ve been postponing mine for years as well.

Occasionally, the thought crosses my mind (if anything happens to you, Eulyn, your possessions could go directly to the UK government), and one day, this realization motivated me to take action!

Naturally, I would prefer that my assets go to my family rather than the government.

I didn’t switch into high gear overnight. Back in October 2020, I began attending a weekly Zoom event called Navigating Life, aimed at helping women navigate the pandemic’s challenges.

The event's primary goal was to assist people in coping during lockdown, particularly those who were alone. Through these webinars, I learned about:

• Placing your life insurance policy into a trust, preventing it from being part of your estate, and ensuring immediate payout upon your passing.
• Organizing your estate planning.

I was grateful to have attended that Saturday, as it prompted me to sort out my personal affairs.

I quickly went online, conducted research, and began looking into creating my WILL and Lasting Power of Attorney (LPA).

Key Takeaway

While it may seem like a grim topic, I can assure you from my experience that it’s not as daunting as it appears. You can get your WILL drafted for as little as £10 or £20, providing you with peace of mind. Why wait? Take the initiative and get it done ASAP; your future self will thank you!

John Bogle’s Investment Tips for You

Have you come across the terms Index Funds or ETFs?

Index Funds

This involves purchasing and holding a diversified, low-cost portfolio that mirrors the stock market.

You can divide your index funds between stocks and bonds based on your risk tolerance and desire for returns. Opt for index funds with minimal transaction costs.

ETFs (Exchange-Traded Funds)

ETFs allow you to invest in a broad array of stocks or bonds within a single package. They track specific markets, such as the FTSE 100, and are quite similar to index funds in their market-tracking abilities.

Investment Advice

> “In investing, time does not heal all wounds. While time is your ally concerning returns, it becomes your adversary regarding costs.” — John Bogle

In March 2020, I began buying individual stocks through Trading 212 after a friend opened and funded an account for me. (I was initially skeptical, so my friend provided the nudge I needed.)

This led me to conduct further research on stock investment and discover Rose’s YouTube channel, where she recommended John Bogle’s book, My Little Book of Common Sense Investing.

> “Failing to invest is a guaranteed way to miss out on accumulating the wealth needed for a secure financial future.” — John Bogle

This book ignited my passion for investing. The Little Book of Common Sense Investing covers everything you need to know about Index Funds and more. I refer to it as my “index funds bible.”

To start investing in the stock market, you need to open an account with a brokerage platform. Numerous options exist, including Vanguard, Interactive Brokers, Hargreaves Lansdown, and eToro. Since I'm based in the UK, I utilize Vanguard.

My investment portfolio includes Index Funds, ETFs, and my Individual Savings Account (ISA). The ISA functions similarly to a US Individual Retirement Account (IRA). For 2022/23, the ISA allowance is £20,000, meaning you can invest up to this amount tax-free per individual, or £40,000 for couples.

Keep in mind that costs play a crucial role in selecting your broker and investment portfolio.

Here are five tips from Bogle for enhancing your investment returns:

• Choose a very low-cost index fund that reflects the market portfolio.
• Opt for funds with minimal expenses, low portfolio turnover, and no sales load.
• Select funds based on their long-term performance history.
• Choose funds based on their recent short-term results.
• Seek professional advice to identify funds likely to outperform the market.

The 4 Es of Warren Buffet

> “The greatest adversaries of equity investors are expenses and emotions.” — Warren Buffet

Key Takeaway

I embarked on my stock investment journey over a year ago, and I haven’t looked back. Start your investment path today. Consider employing the dollar or pound-cost averaging method (monthly auto-investing), which I practice. This approach is ideal for those with a low-risk appetite.

> Remember, past performance is not indicative of future results.

Would You Like to Enhance Your Reading?

> “A writer only begins a book. A reader completes it.” — Samuel Johnson

I admire those who can read numerous books in a month or a year.

I enjoy reading, but if a book fails to capture my interest, I’ll set it aside for another. This habit makes it challenging for me to finish certain books.

Therefore, I decided to establish a book club to overcome this obstacle.

I discussed the idea with a few friends who shared similar sentiments, and they eagerly joined me, as they too struggled with finishing books they found unengaging, despite the potential knowledge within.

In May 2021, I launched the book club with two friends, and while we haven’t read as many books as we’d like, we’ve managed to read more together than we would have individually.

There are countless benefits to reading.

Key Takeaway

If you wish to read more frequently, consider starting your own book club and inviting friends to join, just as I did. Some of the titles we’ve tackled include How to Win Friends and Influence People, Think and Grow Rich, The Secret, and The Compound Effect. You can access free PDF versions online.

Exploring the Basics of Cryptocurrency

Many of you may feel intimidated about venturing into the “crypto waters,” much like I did when it first emerged in 2009.

Back then, if anyone mentioned crypto, I would dismiss the conversation immediately, as I found th