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I also answer questions asked by people on Quora - they contain some useful money insights.

Mark Underdown

Financial Planner, Small Acorn Money

How old do you have to be to start your retirement fund?

As early as possible; yesterday would have been better. In the UK you are able to start a pension from birth. Your parents or grandparents can contribute up to £2,880 pa and you will receive basic rate tax relief, making the full contribution £3,600 gross pa. These...

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How can I make 50k in a year?

I'm a sophomore in college, therefore I have no degree yet. How can I make 50k in a year while still being a full time student? I'm specifically interested in making passive income. The passive income you are looking to build is actually very active income - It should...

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What is a good piece of random advice?

This question and answer originally appeared at Quora. I would firstly say that there is no need to rush. Take a year to learn about investing to ensure that you understand the decisions you make and the investments that you will select. If you don’t wish to go...

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What should I invest $50k in?

This question and answer originally appeared at Quora. I’ll also be starting college in the fall and helping my parents pay for tuition. They will be willing to pay for most of it, which means I will have some extra money to put towards investing, but only a couple...

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I have $400. What can I invest in?

This question and answer originally appeared at Quora. To answer that question you need to think about what it is you wish to achieve, what your timescales are, what other needs are there for this money, what your personal views are, how you will respond to market...

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What is the difference between socialism and capitalism?

Firstly, I’m sorry to hear about your family’s loss. In these times the most sensible thing to do is to take your time. Don’t make what could be irreversible financial decisions if you aren’t in a clear financial mindset. Put the money into a few bank accounts on a...

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What’s your favorite way of saving money?

This question and answer originally appeared at Quora. Don’t waste your time investing in anything other than your own education with that size of fund. For example, you could use it to buy a number of books in your field that will enhance your earning capacity - and...

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Which country is ideal for your retirement plan?

This question and answer originally appeared at Quora. Firstly you should base your decision on how much income you need each month and work backwards from that point. At 70 years of age there are some factors to consider that wouldn’t be relevant if you were younger....

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