Thinking of taking a big swing - tell me I'm an idiot
Hi all.
I am in a blessed position but not FatFIRE just yet. I am thinking of playing a risky game to try and get ahead.
Context: ~£220k ISAs, ~£100k SIPPs, £225k GIA. Early 30s, 1 child soon to be 2. HHI ~£110k.
Currently mortgage free which is nice, but sub optimal for long term wealth accumulation (and also motivation in the workplace). I am thinking of:
- Taking out an interest only mortgage of ~£400k
- Dumping the whole thing in 3-4 companies which I feel have the potential to multibag
- Continue working for the next 5-10 years to service the debt and my lifestyle expenses
The reason I'm thinking of doing it this way precisely is because I don't have confidence in current valuations of any major index, but I think some certain stocks (e.g. MSFT) are very attractive buys ATM.
Worst case scenario, it doesn't work out but I'd still have enough to cover the mortgage even if my whole portfolio drops by 50%.
Best case scenario I pick some winners and hit £2m invested by the time I'm 35.
Come on, roast me!