Follow my three-step plan to make a million from investing in UK shares

first_imgSimply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares Follow my three-step plan to make a million from investing in UK shares Harvey Jones has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Harvey Jones | Tuesday, 13th October, 2020 Image source: Getty Images Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! If you want to make a million from investing in UK shares, you need a plan. Then you need to stick to it, throughout your working life. If you dedicate yourself to the task of building your wealth, you may be surprised how far you get.The stock market crash makes now a good time to get started, as many top FTSE 100 shares are trading at bargain prices. Although the truth is, if you want to make a million, you have to invest through thick and thin. Whenever you have the money, basically. Here’s how I’d aim to get there.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…1. Start investing regularly nowThe earlier you start, the better. It is possible to make a million by investing as little as £100 a week, if you are young. If you start at age 25 and make an average total return of 6.5% a year after charges, you’d have £1.04m by age 66.Even if you start at a later age, it can be done. Cut back on frivolous spending where possible, and invest all you can. If you take out a personal pension, you can get tax relief on your contributions, boosting their value. In a Stocks and Shares ISA, all your returns are free of income tax and capital growth for life. Even if you make a million.If you don’t have £100 a week to spare now, start with a smaller regular sum and look to increase it over time. Another advantage of investing regularly is that you do not have to worry about timing the market, or whether shares are up or down. In fact, you benefit when shares fall, as your monthly payment picks up more stock.2. Reinvest all your dividendsAfter you have chosen your stock or fund, check the settings on your online wealth platform to ensure all your dividends are automatically reinvested. In the long run, dividends make up a huge chunk of your ultimate returns. Those regular payments may not seem much on their own, but are a key part of your bid to make a million.Over the 20 years to 31 December 2019, the FTSE 100 rose by just over 600 points to 7,542, a rise of just 8.8%. If you had reinvested all your dividends, your total return would have been 122%, according to Schroders. You can draw your dividends after you retire, to top up your pension.3. Add lump sums to make a millionAs well as investing regular monthly sums, you should turbocharge your ‘make a million’ plans by paying in one-off lump-sums whenever you have cash to spare. Whether this is a work bonus, inheritance or other windfall, you should put it to work as soon as you can. Otherwise you risk frittering it away.You will not make a million on the stock market overnight. This is the work of a lifetime. The sooner you start planning, the better your chances of making it.center_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Harvey Joneslast_img read more