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Determining how much to invest will largely depend on unique circumstances, including salary, debts, and family obligations. For example, putting away £500 monthly into an all-world fund could accumulate to around £250,000 by age 60, assuming a conservative growth rate. Increasing monthly contributions to £800 could lead to a substantial £400,000.
Overcoming Mental Barriers
To succeed in investing, it is vital to counteract common mental barriers, including waiting for the perfect moment to invest. Economic uncertainty is perpetual, and the best action is to start investing now rather than seeking out the elusive "perfect time."