Route To Riches

Can you save up a million pounds? Can you save up a million pounds without a well paid job, rich relatives, a lucky break on the stock market or winning the lottery? What about during an economic downturn? How long would it take? How much would you have to sacrifice in order to achieve such a goal? Would inflation decrease the amount so much to make it no longer worthwhile? Is there really a simple, easy method of making a million pound fortune that anyone and everyone could follow?

I am going to find out. I'm going to attempt to do what so may of us dream of and so few accomplish. I want to be a self made millionaire. And I want to do it by the relatively young age of 35!

I have heard stories of 'a friend of a friend of someone who knew this guy who saved all of his dinner money forever and made a million pounds', but I have yet to personally meet anyone who became rich through anything but luck and extraordinarily good business skill. I've known many individuals who have tried the hard work route - slaving away to run their own business, spending every spare second analysing the stock market. Others have tried their hand with property. There were a few minor success stories, but no one who reached that magic six figure mark without some kind of outside help or a lucky break. What about the rest of us? The cleaner, the office slave, the low paid and overworked proletariat. Is the task of saving a million pounds so far out of reach?

I believe it can be done. I believe that anyone, regardless of salary, education, background or contacts can realistically save a million pounds if they really focus. I also believe that it can be done at a relatively young age. Although a million pounds isn't what it used to be, it's a pretty good first stepping stone to have. 'Millionaire' also has a nice ring to it! I am 23 now and my goal is a million pounds in the bank by the age of 35. This has to be pure liquid cash, not assets like cars, property or a company. £1,000,000 in my bank account!

To set the record, I am currently earning £15,000 a year (£12,100 after tax!), owe £4700 in a student loan and £5700 to my parents from college fees. I have no degree and no rich relatives. I do not own any property and do not have my own company. I have a low level office job, which doesn't appear to be going anywhere fast!

I have decided to break up this seemingly mammoth task into smaller goals to make things easier. My first mini goal is to save £5,000 and pay back all of my student loan (£4700) by the end of 2008. Not easy for a university drop out on practically minimum wage, but it can be done. I'm feeling positive! With that I am off to work, to begin my first day as a potential millionaire.

Best of luck to anyone who is thinking of joining me! To everyone else, I hope you are happy, healthy and content.