Burger van owner amasses £9m online investment fund (2024)

A burger van owner is considering hanging up his apron after making a £9million while trading stocks and shares online.

Stephen Bliss, 34, manages his trading fund at night from his home in Redcar using the social platform eToro.

During the day, he can be found at The Sizzling Griddle off the A174, providing truckers with hot tea and bacon rolls.

Stephen Bliss, 34, manages an online investment portfolio worth more than £9 million

During 2016, Mr Bliss's fund increased in value by almost 792 per cent according to his page on eToro which has been tracking all his trades since he first joined the network

Mr Bliss, pictured, is considering quitting his burger van and trading online full time

However, with a projected six-figure profit for 2018, he now wants to trade online full time.

He has been trading on eToro since 2014, although he admitted it was a steep learning curve losing almost half of his original £3,000 investment.

He said trading stocks and shares online is easy.

He said: 'You can open practice accounts and trade with virtual currency. I didn’t want to start throwing real money at it and end up losing it all.

'About two years in, I got the hang of it and started feeling confident. I put some real money in, about £3,000 and lost about half of it.

'They say never trade with money you can’t afford to lose but losing that was a bit of a blow.

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'After that, I went back to a virtual account and saved up more cash.

'You find, when you transition to trading properly, your mentality changes and it affects the way you trade.

'You’ll take positions that are in profit too quickly, when they start going the wrong way you tend to hold it longer,

'You have to take all emotions out of it. It was a big learning curve.'

He said anyone planning to trade online should educate themselves before committing funds into the venture.

Almost 7,000 people have invested money in Mr Bliss's online fund

During the day, Mr Bliss charges £2.50 for a 1/4lb burger, but at night he earns commission from the thousands of people who are following his investment fund on eToro

He described the eToro network as 'a little bit like Facebook', where you can invest money in top traders and let them make the decisions. Currently, almost 7,000 people have invested in Mr Bliss's fund which has a value of $12.75 million - £9 million.

He said: 'I’ve got about 6,600 people investing their money in me.

'I don’t let it affect me now. But when I first reached $1m I thought "wow".

'I’m bombarded with people’s queries, it’s every minute; responding takes up a lot of time, but we were asked to go to London and a Q&A live stream which helps.

Mr Bliss even accepts bitcoin in his burger van on the side of the A174

'I enjoy making money for other people. A guy messaged me saying he invested £60,000, I got it up to £200,000 and he messaged me to say he’s just gone on a trip around Malaysia with his mates on a Harley Davidson and wanted to thank me.'

The commission Mr Bliss has earned from the site amounts to six figures this year.

'I really enjoy learning about it, the returns are far greater than what you get from putting money in a bank account.

'Every year has been positive, I’ve returned 935 per cent this year which is significant, but I don’t expect to do that every year. My target is 5 per cent, which is a bit more realistic.

'Now I want to step back from the catering business and focus on the trading full-time.

'We get our regulars; a few have even invested so they pop in and we chat about it; it’s amazing how many people are starting to do it.'

How Stephen Bliss makes his money trading on eToro

Stephen Bliss has 6,600 people following his trades on the eToro online network, each investing a minimum of $100.

Investors can follow multiple traders by putting a minimum of $100 into their funds.

Etoro pays traders such as Mr Bliss a bonus for the number of people who follow them.

When Mr Bliss makes a trade, each of the people following him make the same trade automatically - paying him a commission.

The investors see the price of their fund increase or decrease to the same extent as Mr Bliss.

However, as a result of his success, the fund managed by Mr Bliss has increased to £9 million.

Mr Bliss believes he will receive commission worth six figures over the next twelve months, allowing him to step back from his catering business.

Stephen Bliss, pictured, makes a commission from each of the 6,600 people who follow his investment strategy online using the eToro trading platform

Burger van owner amasses £9m online investment fund (2024)

FAQs

Is $10 m enough to retire? ›

Even under very dire circ*mstances, there's almost no way that $10 million isn't enough for you to retire at 50. Even if you parked the money in a checking account and didn't use it to generate further returns, you could live on $200,000 a year for 50 years before you ran out.

Is $7 million enough to retire at 60? ›

Retiring with $7 million means you can bid adieu to financial anxiety. You've amassed a significant nest egg that, when managed prudently, can provide you with a stable and worry-free income for the rest of your life. Basic living expenses like housing, healthcare and groceries will no longer keep you up at night.

Is $8 million enough to retire? ›

With $8 million in savings, even a modestly invested portfolio can generate enough money to live a very comfortable life indefinitely. Of course, that's all relative as the amount of money you need in retirement is going to vary based on an individual's life choices and desires.

How much does Dave Ramsey say you should invest? ›

When it comes to saving for retirement, money expert Dave Ramsey knows exactly how much you should be setting aside. Ramsey's recommendation, which he shared on his website Ramsey Solutions, is to invest 15% of your gross income into your 401(k) and IRA every month.

How long will $10 million dollars last? ›

If you are lucky enough to have set aside $10 million, can that get the job done? While it certainly depends on your needs and lifestyle, the answer for almost everyone is yes, as long as you invest and manage your money wisely. With $10 million on hand, you can comfortably retire at age 40.

Is $25 million net worth rich? ›

Spectrum also found that the number of U.S. ultra-high-net-worth individuals—they count UHNWIs as owning between $5 million and $25 million (excluding the value of their primary residence)—grew 21.3% in 2020 to a total of 1.8 million households.

How much money do most people retire with? ›

The average retirement savings for all families is $333,940, according to the 2022 Survey of Consumer Finances. The median retirement savings for all families is $87,000.

How many people have 10 million dollars? ›

There are approximately 584,000 US$ multimillionaires who have net assets of $10M+ worldwide in 2017. Roughly 1.5% of US$ millionaires are "ultra-high-net-worth individuals" (ultra-HNWIs), defined as those with a net worth or wealth of $30 million or more.

How much to retire comfortably at 65? ›

By retirement age, it should be 10 to 12 times your income at that time to be reasonably confident that you'll have enough funds. Seamless transition — roughly 80% of your pre-retirement income. This amount is based on a safe withdrawal rate (SWR) of about 4% of your retirement accounts each year.

How much is $100 a month for 5 years? ›

Short-term investor: Let's say that you are investing $100 per month with a big purchase in mind. You plan to invest $100 per month for five years and expect a 6% return. In this case, you would contribute $6,000 over your investment timeline. At the end of the term, your portfolio would be worth $6,949.

How much money do I need to invest to make $100 a month? ›

A fixed annuity typically provides a set rate of return over a determined time period. If you have a fixed annuity with a starting principal of $10,000 and a rate of 5%, you could expect to get around $100 a month for 10 years. A variable annuity may have a rate that fluctuates depending on market performance.

How much is $100 a month from 25 to 65? ›

$100 a month invested from age 25 to 65 is $1,176,000.

Can you live off interest 10 million dollars? ›

It's entirely possible to live off the interest earned by a $10 million portfolio, depending on how much you need and what your investment choices are. You'll want to make sure that your lifestyle goals are in line with the income produced if you're going to make it through retirement without running out of funds.

Is 10 million net worth rich? ›

Generally, a liquid net worth of $1 million would make you a high net worth (HNW) individual. To reach very high net worth status, you'd need a net worth of $5 million to $10 million. Individuals with a net worth of $30 million or more might qualify as ultra-high net worth.

Is $15 million enough to retire comfortably? ›

Most retired Americans believe they will need nearly $1.5 million in the bank to retire comfortably, according to a new study. The majority of retirees surveyed believe that they will need $1.46 million in the bank to retire comfortably, according to Northwestern Mutual's 2024 Planning & Progress Study.

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