3 steps to optimize the budget of our friend Andrew!

1. Increase the Emergency Fund: Andrew should boost his emergency fund to cover three months of expenses. We can take the missing £5,179 from the £12,000 sitting in cash. The remaining £10,179 should go into a High-Yield Savings Account for better interest.

2. Open a Stocks \u0026 Shares ISA with InvestEngine: This will allow Andrew to invest the remaining £6,821 and grow it tax-free. Instead of the S\u0026P 500, he should focus on ETFs like SWDA, XMMS, and EQQQ. These ETFs provide diversified exposure to global markets, which can lead to more stable and potentially higher returns over time.

3. Set Up an Automated Monthly Investment of £1,500: Yes, we’ll invest 100% of his monthly savings! By consistently investing in those ETFs, Andrew can harness the power of compound growth, setting him on the path to reaching £1,000,000 by age 48.

What do you think? What would you do differently? Let me know in the comments!

And for more investing tips, follow @stoicmoneycoach !

#Investing #ETFs #WealthBuilding #UKFinance