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What!!! You’ve been urging me to play it safe in all your books, now you want me to gamble. Are you crazy?
Yes, true. I believe the best way to make money is to hold great companies for a while. And all you need is to add 20k to your ISA once a year then achieve a careful 20pc a year capital increase. Then you become a tax free millionaire in 13 years. Not bad.
But, I believe nearly everyone who invests is a bit of a gambler.
My thesis is a lot of us who “invest” have a mad gambler inside us that wants a bit of excitement and “punts.”
Buy rubbish penny shares! Punt on Forex! Load up on Crypto! Let’s make money fast!
Of course if you just did that you would probably lose in the end.
But being sensible is hard work if there is a nagging bit of a gambler in you.
To satisfy the excitement part of our psyche, I suggest have the odd gamble, but to small money and in a separate account.
Let’s say you’ve got your ISA, be disciplined and stick with being sensible. But have a totally separate little account where you can have some fun.
Let’s say you have £60k in your ISA. Take 5k of that, and have fun. No rules. Buy punts, satisfy the urge. If you lose it doesn’t matter it’s a small amount. I use a very small part of my SIPP for this. I use 15k out of the near £1 million I have in it.
But I’d suggest a separate account. Let the gambler in you out for the excitement. Keep your punting money totally separate from your ISA or main investing pot.
Maybe even a separate spreadbetting account.
Main reason? It’ll stop the gambler in you going in and gambling with your main pot of money.
Caveat? As with all investing it all must be money you can afford to lose say half of.
And if you don’t want to gamble at all with your investing pot, there’s always a tenner each way at Kempton Park.
If you’d like to do some sensible investing why not join me online for a seminar on December 1st?
Email me for details at robbiethetrader@aol.com
