If I had a pound for every time...

I am sure we all remember times during our lifetime when someone would have said to you, “If I had a pound for every time *enter passive aggressive sarcastic comment here* then I’d be a millionaire by now”.

I can remember one of my primary school teachers using this phrase to shame every 8-year-old kid who asked a relatively stupid (in her mind) question. I always thought she was right but now that I think about it I wonder if maybe she was just kinda not very nice. Anyway, I digress.

I also remember being intrigued and fascinated with the whole concept. The notion of receiving a single pound, repeatedly, frequently enough that would eventually result in me becoming a millionaire was exhilarating for me as a young boy.

I recall also wondering what I could possibly do, say, think or believe, frequently enough in order to make that very saying come true for me. Is there any event that could be manipulated into something that would match that criteria whereby I would accrue an additional £1 for every time it occurred?

The more I thought about this, the more I realised that there is one way. This should be the new saying, “If I had a pound for every time I woke up, and then I took that pound and invested it into a globally diversified equity portfolio every day for 58 years, then I would quite literally become a millionaire”.

If I had known back then what I know now, I would have adapted that nonsense saying used by my insecure bully of a teacher to shame us, and instead used it to discipline myself into investing £1 into the stock market every single day. That is £365 a year, compounded at 10% net per annum, for 58 years, gives you just under £1.1million.

Who has £1 a day as an 8-year-old, I hear you ask? Who has 58 years to wait for that to happen?

Well that is the investment game in a nutshell: £365 a year isn’t a lot and if you started to invest that now for your children or grandchildren, then by the time they’re my age they would be considerably more than half way through that 58 years, and well on their way toward millionaire status.

Don’t miss out.


Alfie Mullan, October 2019