I was mindlessly browsing through instagram when I came across to a post by user @dudewithsign.
Obviously, the cardboard says, "We can stop saying 'Happy New Year' now." I smirked, a little. Not because people are still greeting one another a Happy New Year; but it dawned on me, that, it has been 3 weeks since the New Year. Yes - just like that, it is now 1/20/2020.
Then, I took a pause and started daydreaming about my goals for the year 2020 - mostly "recycled" goals from last year (lol). One of my financial goals is to max-out my Stocks and Shares ISA allowance which is £20,000 per *tax year. So I thought, let me make this a bloody challenge. It is the 20th today, year 2020, 20K.
Here it is!
Table Napkin Written Rules
Source of capital must be coming from year 2020 earnings only.
Earnings = paid job or jobs including side hustles. Other sources of income i.e. real estate, dividends, interest should not be counted.
*Tax Year in the UK resets every April. For ease of tracking, I start this January.
The capital must be invested on equities only either on a tax-wrapped account or onto a general taxable account, or a combination of the two.
How is achievement measured
A total of £20,000 invested by December 20, 2020 on either ISA, General or combo accounts. However, there is a caveat. If my ISA allowance is not fully utilised by March 2021 even if I fully invest 20K by 12/20, this challenge is a FAIL.
20K total equity investment by 12/20/2020 + maxed-out ISA allowance of £20K by 3/20/2021
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