The £1 Million Challenge

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And so the journey has begun.

After losing my job, I started the merry-go-round of interview after interview. The habit of sticking to what you know, furniture sales in my case, was instilled into me. After the 5th rejection, I started to wonder what was wrong. I had a very good track record in sales and I answered all questions by the book. Was it my age? 40 is supposed to be the new 30, I thought.

It was in the middle of my 6th interview that I was given the answer. The manager of the company looked straight at me, "I can't fault your answers, but something tells me you really don't want this job." I argued politely that he was mistaken, thinking this was just part of his plan to find the right applicant. I needed the job. I really did.

Driving back home, I started to realise that he was right. This really wasn't what I wanted. I'd never considered myself a salesman, I was just a good listener, patient and honest. I was the opposite of a salesman, but it always seemed to work for me in furniture sales.

The truth was I'd never liked my job at all. So maybe this was an opportunity to make a change.

I was tired with working all the hours the day brings and missing out on my family too, so I took the ultimate step and decided it was time to build a life... an actual 24 carat real life.

I set myself a challenge.

Turn my life savings of £40,000 into £1 million.

How was I going to do this?

I'd dabbled on the stock markets in my spare time, with a little money and not much time, and I'd been fairly successful in building a small nest egg over the years using a simple investment strategy.

During that time I'd also kept a fantasy fund, basically pretending to invest in different companies if I'd had the money to invest and find best prices during market hours buying and selling shares time and again. Not day trading, but simply buying good shares on dips in the price, holding until a good profit was made, selling and buying again on calculated dips. I would "hold" shares from a week to 3 months.

In only 4 years, my fantasy fund of £100,000 would have been worth over £500,000. A return of 50% on average each year. That both excited and annoyed me. The annoyance being that I'd never been able to realise these earnings. But now my brain was working out the possibilities.

The plan to make £1 million


Now, I didn't have £100,000 to invest.

But I had enough to invest £40,000 and leave a little to cover me for the rest of the year. This would allow me to work full time on the stock markets and really build profits as soon as possible. Plus I needed to find other sources of income that didn't take up all my time and could be earnt around my full time trading job in order to reinvest the profits for the following year. I'll explain what I did in a while.

My wife was amazing. She'd known for years how unhappy I was (even though I didn't), she could see the passion I had and was more confident than me that I'd reach my goal.

For this show of faith, I will love her forever and a day. But it also cranks up the pressure, as I can't possibly let her and my little boy down. I'm doing this for our future, so I need to get it right.

I had to allow for the fantasy fund being imaginary (it's much easier to make money on the stock market when you've got nothing to lose) and so instead of expecting 50% returns each year, I've set myself a target of 35% returns. Which is still pretty steep. But I'm up for the challenge.

My earnings should hopefully be completely tax free, using capital gain allowances, Isa allowances and using tax free trading platforms once I reach my tax allowances.

So here's my overall plan:

  • 1st Year starting fund = £40,000     Profit = £14,000 
  • 2nd Year starting fund = £54,000    Profit = £18,900
  • 3rd Year starting fund = £72,900     Profit = £25,515
  • 4th Year starting fund = £98,415     Profit = £34,445
  • 5th Year starting fund = £132,860    Profit = £46,501
  • 6th Year starting fund = £179,361    Profit = £62,776
  • 7th Year starting fund = £242,137    Profit = £84,747
  • 8th Year starting fund = £326,884    Profit = £114,409
  • 9th Year starting fund = £441,293    Profit = £154,452
  • 10th Year starting fund = £595,745   Profit = £208,510
  • 11th Year starting fund = £804,255   Profit = £281,489

11th Year Target = £1,085,744 

So at the beginning of this year I added my funds into my trading account.

My first year target is £14,000, a monthly average of £1166.67.

March 2017 was my first month and I've managed to cash in £1427.74 which puts me ahead already, although I'm expecting bad months as well as good, so I'm not getting too excited just yet. It's an encouraging start though with little momentum.

Creating multiple income streams

I've also researched and researched for the best ways to make money around my day job in order to create many different sources of income. My aim is to have at least 6 different sources of income on the side to pay for everything while I build my investments. You can visit my website to see the shortlist I've compiled.

My favourite is one I found a little while ago called the SFM. Absolutely superb system and training which has enabled me to earn anywhere between $20 - $8000 per sale (with no physical selling involved - which after years of selling furniture is an absolute Godsend). Plus I can earn residual income for months and years after doing the initial "sale". This is probably what will bring in the majority of my earnings while I build my investment portfolio. Who knows it may even bring in the million well before my challenge finishes. You can try it yourself for Free here.

To keep motivation up and give me a good kick up the backside during my Challenge, I will be posting regular updates about my journey to the Holy Grail and also posting my monthly earnings for my investment account each month so that you can watch me reach for the stars (or for those of a car crash tv mentality, watch me crash and burn). I welcome you all and hope you find the courage to chase your passions in life.

Onwards and upwards, my friends!


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