@@stevo728822 I won't because I'm already "retired" at age 37 😅 because the thought of working until age 70 was depressing enough for me to obsess over investing for the last few years. Still, I've left myself very little safety margin so obsessing over investing is my new job 🤣
Im 49, I spent big on going out in my 20's. Don't regret it at all! In fact, being skint in my early 30s really lit a fire under my arse to build wealth.
I work with older people with disabilities etc. Having a pile of cash when you have a stroke or dementia or your partner dies of cancer isnt all its cracked up to be. Dont forget to enjoy the here and now folks
@@TheUnluckyGama my friends mother is paying 1000 pound per week , in a care home , and her best friend in said care home pays nothing as she has no pension or savings
22, never went to uni, make minimum wage and live in a flat share 4K Emergency fund 3.2k stock market 1.1k LISA Pensions 1k (ish) £600 collectibles Currently saving up to start driving lessons and purchase vehicle outright Only £230 debt @0% (fell through my bed) 😂
There will be huge changes to the economy before then anyway. What happens to pension contributions when 50% of jobs have been automated in 10-15 years?
unfortunately I'm 58, in the uk, and very much in the bottom 1%. The idea of saving is hysterical, I haven't been able to afford heating for 7 years! I think you'll find there's a terrifying number in that 60% almost as fu*ked as I am! :)
@@4ndyr0g3r50n Exactly. Admittedly, I could take a bit more risk at my age but most of my portfolio is allocated towards a market cap weighted global index fund which I believe is probably the safest way to invest for 30+ years. Although I do have positions in some individual companies too.
Don't neglect a cash buffer - during 2020 I needed cash and lost out on £20k from the market rebound! With saving rates so high, it's not so bad to keep a bit of cash
Excellent! This vid should be compulsory viewing for everyone in their 20's. I wish RUclips had been around when I was that age. I hear lots of people say they can't afford to save but if you start really small and just increase the amount as your pay grows over time you will eventually have enough for a comfortable retirement.
I cant imagine a bigger inspiration or better advice for getting on with early saving and investment than this. You'll probably save alot of peoples futures with this video, you just wont ever know it. Great video, thanks for the ever invaluable guidance and foresight. In 30 years you can do a follow up video saying "absolutely nobody couldve seen this coming"
two points 1) As there are millions of people currently living on incomes of less than $50,000 a year, they probably don't need to reach $50,000 a year in retirement when their rate of spending is going to be lower anyway because people spend a lot less when they age into retirement and so if their current lifestyle doesn't require them to earn $50,000 why would they need $50,000 in retirement? Indeed, given people spend less in retirement, it means even someone living on $ 50,000 right now is unlikely to need to keep the same income level as their rate of spending will be lower overall, and they'll probably have paid off their mortgage too. All they need is for their retirement savings to keep up with inflation and any healthcare costs they are likely to incur due to old age. So, the $50,000 figure is a bit meaningless and may even be discouraging to millions of people who want to save for retirement. 2) Many of the figures used by financial planners to work out what is needed for retirement seem to assume people will need enough money to live on until they reach their 90s. But only around 4.7% of those aged over 65 actually reach their 90s. So most people probably only need enough money to fund their lifestyle into their 70s or their 80s as statistically, that is when a lot of people are likely to die as 95% of the population will die by their 70s or 80s. Indeed, there are also lots of people like myself who live in places like Glasgow who have a 25% chance of dying by 65 and a 50% chance of dying by 70 due to the Glasgow Effect, which means our concern isn't the need for having enough money to cover retirement up until we are 90 but achieving financial freedom so we can retire in our 50s or 60s so that we actually have a few years of retirement. I suggest financial planners will want to factor in a person's socio-economic status etc. to help them determine how much they realistically need for retirement. Someone working as a manual labourer in Glasgow is going to need a lot less in retirement than someone working as a financial planner in London due to adverse mortality rates due to socio-economic factors. These are pretty grim facts, but you can't deny the data as the insurance companies use the same data to work out the premiums for their life insurance policies etc. Indeed, you could argue that where a person falls on the actuarial tables would be a good measure of determining what kind of plan they need for their retirement. After all, if you have a likelihood of dying in your 60s that requires a different plan to someone who is likely to live into their 80s or 90s.
@@awolgeordie9926 Thanks, and I hope you reach financial freedom and early retirement in your 50s or early 60s so you get the chance to enjoy your golden years.
On 1) Many people would need care when they are older - this is expensive. Also many would like to leave an inheritance to their kids. 2) People born in the 90s have more than 50% chance of reaching 100 years old. For Gen Z the percentage is even higher.
Concerning point 1. They keep saying that the cure to Alzheimer's and dementia is only 5 years away. Considering the reason people need care is because of illnesses like Alzheimer's and dementia I assume that by the time most of the people watching this video and reading this comment reach old age, they will not need round-the-clock care. They may need some support to maintain their independence due to age-related infirmity, but a home help is a lot cheaper than 24-hour residential care which is what you seem to be implying they will need. Concerning point 2. I live in Glasgow which means as a man I have a 25% chance of being dead by 65 and a 50% chance of dying by 70. Given the age I'll be when I am entitled to receive the state pension it means I am likely to die before ever seeing my state pension despite being made to make National Insurance contributions throughout my working life. And the Tories in Westminster are talking about raising the pension age to 75 which means large sections of the male population in the whole UK won't receive a state pension if that proposal goes through because they will die before ever receiving it.
Great video as always buddy, just a thought as you are one of the few who are unofficially qualified. 😉 Maybe a video on Sipp pension and providers to consider. Appreciate you work! 🙏
I started at 38 so had a long way to go but i started with Tesla at $38 per shear i put in about 4K at that level before it went crazy. That has given me a nice boost which has got me on track.
Sasha, your content is good. Please consider quality of life updates for you videos, such as on screen text or pictures, so I know where to skip to. Or bookmarked sections. Or a summary closer at the end.
I’ve always been a saver and hated being in debt. Been close to loosing my house thanks to people shitting on me at work twice so was ripping in to my mortgage throughout the last 8 years. Mortgage free now and have been saving more and investing in an isa.
I'm part of the 6% woo. Kinda hovering in the 9K-11K range currently. Damn last month was rough in the market. 😅 Comfortably sitting in the 9k range though. Way better than where I was this time last year with only $900 (£720ish). Oh nice, WeBull is finally over in the UK. Don't mind if I do, thank you very much Sasha. I had a look at these guys before but being in Scotland I couldn't use them at the time as they only served the US. Great video as always BTW. Way better and more entertaining than watching the BBC and getting their opinion on garbage.🤣😂
I’ve worked minimum wage since 16, I’m 25 now. I’m 39k in stock isa 10k in H2B And a few thousands in current account. I’m the least paid out of all my friends, but because I save 50% of my income, and I choose to live with my parents, I save a lot more.
You might like Wade Phau's work. He has a lot on income rates. Interesting research on if you retired in a different economy. Your first year in retirement etc.
This video was very insightful. How do your prioritise savings and a house deposit? Should you separate the two things? Combine them? Maximise one? Any advice would be greatly appreciated.
Thanks for the great content, Sasha. It will also be very helpful for a good review ETFs to invest in. As you mentioned, S&P has been good so far but with growing tilt toward a few tech giants makes me nervous. Even global ETFs get heavily tilted. So what would make an easy future proof ETF in your opinion for not so savvy investors. And thanks again. Love your content.
I'm making four thousand dollars every week from stock investment, for me I still want more returns but my FA says I should not be greedy that is what blows investment accounts.
That is a good ROI for me however I hope is not the broker guy in Texas charging 50% to clients how is that even smart for someone looking to make some cash
Excellent advice, this is a nice concise basic set of finance concepts. And remember kids, the trick to investing is spend less than you make. Because if you don't have money to invest you can't invest.
I remember being super confused at uni when some of my friends told me they took out the extra loans which were great due to having much lower interest than the typical loan (I'm not talking about the standard student load but a supplementary loan) and how I should've taken it. I'm glad I didn't as it made zero sense to me.
@@BigGayTurtle Yep that's what they told me which is fair but I simply didn't need the extra cash at the time at all so even though it's lenient I had no need for it but they were telling me how it's like a thing I should take out. Would've inevitably been wasted on silly things and I'd have more debt.
Got about nervous about rising costs/not saving enough last Autumn. Been working a night security job at weekends around my main job since. Hard work, but am starting to build up a nice safety reserve ontop of my pension savings. Thinking about overpaying on the mortgage, hate the feeling of owing.
Savings are similar rates to mortgages at the moment. I think having 6-12 months mortgage payments saved up in a cash account gives you a lot more security than paying the same amount off your mortgage balance. You already have two income streams, so that's good!
Hi Sasha great videos v informative. I’ve a question, if you have a euro online trading account and are a small investor should you avoid all fx costs, I mean should I only buy shares that are listed in euros like from German se, and avoid us uk?
Already invested way more than that every month for a while now, however still living with family and have no student debt. Not everyone is fortunate enough to be in this situation but gotta do what i can to get myself ahead as much as possible
@@Shutityou it’s never that easy and it’s always different depending on everyone’s life circumstances it all depends on the current life situation of the individual
I calculate my inflation-adjusted growth rate by dividing by rate of return by the inflation rate as opposed to subtracting. Ex. Rate: 1.1 = 10% Inflation: 1.025 = 2.5% Inflation-adjusted Rate: 1.07317 = 7.3%
I have no savings and no plans to have any savings any time soon, i'm simply here for some education . Already living with the choice of eating or heating at winter. Saving isn't really an option right now , neither is work place pension.
Just to get it strait I just keep topping up that investment account? Even when the market is up or down, do I treat an investment account like a savings account?
Spent my 20's getting a college degree and then traveling. Around 30, I woke up and paid of all my debt by 32(which was hell, but thaught me a lot). I am 34 now and completely out of debt with 25,000 invested. I am definitely behind but things are getting better. Just sticking with it and living well below my means.
not behind. definitely in top 25% speed. i was just like you at 34 , all debt eliminated but only 5k saved. 12 years later at 46 i have a 200k property payed off, 150 invested and 50 cash. you are on a good trajectory!
I wish more people would echo that message about your personal home not being an investment. It's a secure place to live and a best a vehicle for savings. By the time you've paid off your mortgage, with interest, plus the carrying cost over the years you'll be luck to break even in most cases. Not to mention the government wants CGT even though their we aware there's no real capital growth on the actual cost paid for the property
22 yrs old and dreading the day my parents kick me out of the home ahaha - been able to put away almost £1200/month into my vanguard acc. Bit worried about the state of the UK economy atm so wondering if I should move more of that money away from the UK-weighted Lifestrategy fund and into the FTSE global all cap instead? Atm I'm investing in both as a 50/50 split
Why bother with the 4% rule when you hit 70? Why leave $1.7M behind when you die - the government will get most of it? Spend it while you’re still here, spoil the people you love while you’re still alive and try to die with zero. You don’t necessarily need $1.7M to retire, and you can retire comfortably on a lot less, a lot younger. JS.
Of course you should enjoy ur retirement but most kids love having some legacy and it help them start their life ,in the past of ppl could afford owning houses and starting a business just cuz their parents left some inheritance behind
Nice video, thanks Some more complex paths to take such as private pension accounts, which give potentially better returns than investment accounts. However great detail all the same Additionally, splitting the investment in degrees of accessibility is a worthy consideration, should you need it along the years
I left home at 17 and have worked extremely hard to accumulate some assets, my plan is to pass on a property that’s been paid off to my daughter when she is old enough to be independent or start uni…plan is…she won’t have a mortgage to pay but whatever’s the rent/mortgage would’ve been she will allocate that money (which she would have had to pay to live in a similar property) into a pension plan. The choice will be either get your own flat and pay rent…or live in my property for free and use that £ to pay into a pension..hope to god this works out 😂
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The stock market rally run is gone, but I'm not sure if equities will swiftly recover, keep falling, or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $85k reserve.
These are very valuable info for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
Haha. I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with Eric Thomas Witt, and he's really good.
Is the poll correct? Some people might pedantically distinguish between savings and investments. Some people may say they have no savings but have pensions and investments.
I had no savings at 38 as a single parent who had just completed a degree, I had about £8000 debt. I bought 30% of a shared ownership flat at 40. I worked in the public sector and paid into their final salary pension. Now 20 years later I have just started collecting my pension, got a lump sum of £40k and have invested most of that and have other savings too and am stashing extra money into a SIPP. I'm still working full time to pay off my mortgage and am paying into the newer pension scheme. My plan is to work full time for 3 more years, pay a chunk off my mortgage and then reduce hours by half. All this is to say that even if you are late to the game, you can still do alright and make sure you pay into employers pension schemes!
Surely you don’t need to retain the full amount until you die. If you retired at 65 with 1.7m you’d have nearly 70k a year making nothing on investment for 25 years.
Never invested in my life and I'd have no idea where to start. I see accounts advertised by big banks and also the ones in your description, which one should I be picking to invest with?
I am only 25 but started investing in mostly TSLA even before covid. Currently it looks very likely that I will be able to retire in mid 30's even if few things go wrong.
Hi Sasha I have a question regarding etfs I invest in both the S&P500 (£VUAG) and the FTSE all world (VWRL) should I keep investing in both or is it better to just pick one of them? Thank you
I find that 60% of people a difficult figure to believe because most people work and there is an automatic workplace pension scheme, which is employer matched upto a certain level and a pension is the best place for most people to save for retirement.
I will have about 400k saved up when I retire in 10 years time when I'm 60 That's MORE than enough to live on over the next ten or so years I will collected state pension of 11 grand a year when I'm around 68 And if I'm not dead by 75 Like all people that age I know ,I won't need much money to be happy This million pound pension pots I hear about are ridiculous And the amount of people who die with 100s of thousands in the bank is unbelievable,do they not realise they can't take it with them ?
@@coderider3022 remember when I hit 67 I’ll get 11 grand a year state pension I live very comfortably now on 12 k a year £1000 a month ) My basic salary is 32k a year 50 percent of this goes st8 into my pension I do overtime at work ( on call twice a week and do the odd Sunday shift which is double time So my wages vary month to month taking home between 2000 and 3000 per month after tax and ni and 50 percent of basic goes into pension Out of this between 2 and 3 k I month I take home I transfer 1000 into my current account Give the wife 500 a month and she puts in 300 That 800 a month pays Gas Electric Council tax Water bill House insurance Petrol for car Food Broadband Netflix And I have 500 a month pocket money And the rest of my wages ( between 1 and 2 k Goes into my savings account Most of that is invested in isa etc and rest pays for our 4 holidays abroad a year When ya very very thrifty Ya can live very very well on not much money I live mortage free And drive a ten year old car That’s where most people’s wages go Mortage and 400 a month on a stupid new pcp car
At 50 we have put away around 400-500k and own a flat in Japan, that will be topped up over the next ten years with another 200-300k plus a full UK state pension * 2 when that kicks in. Neither of us have any intention to retire; we'll just transition to hobbywork.
What if you're starting at 53yo? Also, I'm surviving on £23K a year. In civil service the past 3 years, so finally on a decent pension. Renting, I'll never be able to buy at this age.
Why estimate 3% @$50K whilst you don't eat away at your base, everybody dies, how about planning for average expiration +10yrs, say 81yrs if male, then plan for 91 to die, retire at 65, gives you 26years to consume all your savings/pension, you would need significantly less.
Thanks for the video Sasha! When people say "Just stick it in the S&P 500".. What does that actually mean? Where can I just stick it? Is there a website or a link where I can sign up and "Just stick it"? Thanks
There are many index funds that track the S&P 500 - which is the biggest 500 companies by market cap in the US. In the uk such index fund is the VUAG which is a Vanguard fund for example. Using brokers like Fidelity (and many others) will allow you to buy/sell this index.
As far as I'm concerned, for the average person, the financial system in the US doesn't work. There are so many traps, fees, and expenses, that you can not save squat. The world financial and social paradigm is collapsing, and they know it. There is a critical mass of people that just can't survive in the current system. Going to work while living in one's car with a wife and kids is not living. It's existing in the most primitive way.
I have about £1500 that's all, but I have no debt and own my house outright . I'm 54, a single mum with 3 kids, one off to university and I don't know what the other 2 will do but they'll want me to help them out £££. However I DO desperately need to save!!
Well - being a single mum with 3 kids is a heck of a challenge as it is. Hat off to you. But remember that although the best time to start investing is 33 years ago, the second best time is today. 👍
It's time young people learn the hard lesson, nobody owes you anything. Get up and stand on your own feet. No gap year, no property deposit, they will only get it repossessed
@@SashaYanshinthank you Sasha! Very good advice to start saving now, I will do. I've started to worry about it now which is actually a good place to be. I only work 20 hours a week so don't earn a lot, I keep my work hours down to be there for the kids - there's the blessing of no mortgage and rent. Why haven't I saved before - life got quite difficult, a nearly 30 year storm that abated quite recently - thoughts were getting from one day to the next. Plus about 8 years not earning. I love wood work and would love to make and sell things to go towards retirement and I'm building a wooden cottage in my garden I could rent out. When the kids are a bit older I'll up my hours too.
I’m currently 23 have about 8k in a LISA and another 6.5k in savings. I’m worried about putting all my savings into the stock market incase of potential losses. What percentage of my savings would you put in and what would you keep as a safety net?
As an Asian who work in western countries, I am always curious since we are edutucated to save money in our culture.( But yep, unfortunately Asian workers don't have life balance that much). Where do money go when we make the same salary for those who don't save or invest?
My biggest weak point is my actual income. I'm very adverse to conflict, competition and change. Therefore after 7 years in my job with pay rises below minimum wage, I'm unsuprisingly now on min wage again. I'm 33 with just £7k in my pension. On the plus side I do have another £7k in savings, 4k EM fund and share a mortgage with my parner which is sat at 1.3% (£550/month) until mid 2027 which should be paid off by the time we're 52. I'd like to save more but I just don't earn enough to do it. We'll be F'ed, but not as much as badly F'ed as some.
@@elliotpollard9083 Maybe although I feel it's more just my personality I'm just natually very passive & easy going. My weak points are not ideal for most profit/target focused professions but I'd likely naturally excel in social care settings such as working in care homes, rehabilitation or supporting those with additional needs. I probably would however benefit from some sort of councelling to improve my motivation and drive to switch to a better paying job.
I saved 100k in an isa in stocks which is down from 180k high though. Plus over 50 to 60k in sipp. 39 years old. If my shares return to their highs though I’ll have 500k or more 😂
@@Cassp0nk If all their Stocks and shares are in an ISA, then it's all tax free and better than a pension since you'll have access to the stocks. A lot of people don't make it to pension age anyway.
@@Cassp0nk I didn’t pay tax on most of that anyway but I don’t want the government telling me when I can use it and how much they gonna tax me on it when I want it.
I'm 42, I have around £300k invested 100% in equities in various pension funds globally that I manage. A small defined benefit pension of about £17k, £75k in cash in high-interest saving accounts because we plan to buy a property abroad soon, £10k in JISA's for the kids a mortgage of £170k on a £650k property. I invest the full amount now of £60k per year in my pension to catchup to my target and I started maxing it out only 2yrs ago. Before this I was only investing about £15k per yr so losing many tax incentives. Turning 40 was a wake up call for me.
Age 20, at uni and run a business. 105k savings 320k buy to let property in UK (50k equity in, rest finance and mortgage) Pensions 25k ISA 18k only started this year :) No money in LISA, it’s a scam. Car, bikes and other liabilities ~ 25k £410 in credit card debt, paid beck every month
In no way is this a criticism as I do enjoy watching your content but somewhat puzzled with your view on the S&P 500. You say that it’s up considerably this year but if I look at vusa a S&P tracker it says it’s only up 3.6% YTD. Is there some kind of amazing tracker I am missing? Also as there are lots of bank accounts offering 5% + is it worth opting for a tracker at all and stick with individual stocks as they offer a greater return.
What I'd like to see is a video where, instead of assuming I want to live forever upon hitting retirement, the calculations assume I want to live until 80 and spend all my money before I die.
Interesting. What happens if you live beyond 80 to say 95? And it's impossible to make a RUclips video where I cover every single person's preferred timing of retirement vs clocking out :)
I've wondered something similar. Is there really any point being a diligent saver your whole life only to have it all taken back for exorbitant care home costs in your old age? I love the security owning my home mortgage free gives me and that was definitely worth sacrificing for, but it almost seems like a bad idea to accrue too much cash for retirement when (currently at least) the state will provide for you, but only if you have no savings. As things stand often people get punished for being responsible and thinking about the future!
The difference here is if you have saved/have a property you might be able to use it to fund decent care in your old age rather than suffering the awful care provided by the state. Also worth remembering that a lot of people die before they ever need care. Enjoy it while you can and don't assume you are guaranteed to make 80 (let alone 95).
@@SashaYanshinThat's true, but even in the worst case scenario my home will at the least have provided me with a lot of value and happiness before it's sold. Cash on the other hand could potentially provide me no real benefit whatsoever depending on what the future holds. Having said that the cash could also come in extremely handy if the UK continues to go to shit and state support isn't a thing when I retire. I rather enjoy eating and not freezing to death, so I shall probably be forced to continue saving money and watching your excellent finance content. Curses!
The thought of working until age 70 is infinitely more depressing than any of your "The UK economy is fucked" videos 🤣🤣
Depends. You might have your own profitable business by then.
@@stevo728822 I won't because I'm already "retired" at age 37 😅 because the thought of working until age 70 was depressing enough for me to obsess over investing for the last few years. Still, I've left myself very little safety margin so obsessing over investing is my new job 🤣
Im 49, I spent big on going out in my 20's. Don't regret it at all! In fact, being skint in my early 30s really lit a fire under my arse to build wealth.
I work with older people with disabilities etc. Having a pile of cash when you have a stroke or dementia or your partner dies of cancer isnt all its cracked up to be. Dont forget to enjoy the here and now folks
Your here for a good time not a long time
@@boyasaka hopefully
No, but it'll pay for decent care rather than being thrown on the scrap heap that is social care
@@TheUnluckyGama my friends mother is paying 1000 pound per week , in a care home , and her best friend in said care home pays nothing as she has no pension or savings
22, never went to uni, make minimum wage and live in a flat share
4K Emergency fund
3.2k stock market
1.1k LISA
Pensions 1k (ish)
£600 collectibles
Currently saving up to start driving lessons and purchase vehicle outright
Only £230 debt @0% (fell through my bed) 😂
Somebody made an early start!
Who is LISA?
@@spacemonkey200 Lifetime ISA
@@SashaYanshin hahaha just a little sacrifice here and there
@@spacemonkey200 LISA=Jeremy Hunt.🤣
You know what is actually cool? That social retirement system will go bankrupt the time I retire...
There will be huge changes to the economy before then anyway. What happens to pension contributions when 50% of jobs have been automated in 10-15 years?
any evidence for that?
Saving for my funeral......so my family don't cop the bill......lol
That sounds delightful
Do not worry they will not let you decay in the gutter
Shop around, you can get cremated for 800 quid 🤙🏾
😂
Lool
I’ve been saving since I was 6 years old. I have £453.18 in my bank account. Blessings to the 6!
Yeet it all on penny stocks
unfortunately I'm 58, in the uk, and very much in the bottom 1%. The idea of saving is hysterical, I haven't been able to afford heating for 7 years! I think you'll find there's a terrifying number in that 60% almost as fu*ked as I am! :)
One of the best finance videos I’ve seen in a while, thank you for the detailed breakdown Sasha 🙏🏻🙌🏻
Perfect analysis and wise thinking 👏👏👏👏👏👌👍🙏
Great video 👍 Chiming in to mention about dividend stocks and (in UK) tax free Stocks & Shares ISA accounts also.
I started investing at 18, and I'm 20 currently. Best thing I've ever started doing.
You are 100% ahead of the game there. 👍
Taking advantage of compound interest you should have a very comfy retirement.
@@4ndyr0g3r50n Exactly. Admittedly, I could take a bit more risk at my age but most of my portfolio is allocated towards a market cap weighted global index fund which I believe is probably the safest way to invest for 30+ years. Although I do have positions in some individual companies too.
Don't neglect a cash buffer - during 2020 I needed cash and lost out on £20k from the market rebound! With saving rates so high, it's not so bad to keep a bit of cash
Excellent!
This vid should be compulsory viewing for everyone in their 20's. I wish RUclips had been around when I was that age. I hear lots of people say they can't afford to save but if you start really small and just increase the amount as your pay grows over time you will eventually have enough for a comfortable retirement.
Cheers again Sasha! 😀😄
Nice to see a video thats not as depressing as some of the more recent ones. I like these where we learn something 👍
Dude is quite a gloomy character lol
Need to do more videos that aren't on just current events - will definitely do more going forward!
Also keep going with the "depressing" ones. True is cold but it's how we learn.
@@SashaYanshinthanks look this still of content. Really insightful and useful
Very informative, thank you.
👍
Amazing advice brother.. showing this to my daughter who goes to University in Saturday
Thank you! And congrats to your daughter!
I cant imagine a bigger inspiration or better advice for getting on with early saving and investment than this. You'll probably save alot of peoples futures with this video, you just wont ever know it. Great video, thanks for the ever invaluable guidance and foresight.
In 30 years you can do a follow up video saying "absolutely nobody couldve seen this coming"
Sasha the 🐐
two points
1) As there are millions of people currently living on incomes of less than $50,000 a year, they probably don't need to reach $50,000 a year in retirement when their rate of spending is going to be lower anyway because people spend a lot less when they age into retirement and so if their current lifestyle doesn't require them to earn $50,000 why would they need $50,000 in retirement? Indeed, given people spend less in retirement, it means even someone living on $ 50,000 right now is unlikely to need to keep the same income level as their rate of spending will be lower overall, and they'll probably have paid off their mortgage too. All they need is for their retirement savings to keep up with inflation and any healthcare costs they are likely to incur due to old age. So, the $50,000 figure is a bit meaningless and may even be discouraging to millions of people who want to save for retirement.
2) Many of the figures used by financial planners to work out what is needed for retirement seem to assume people will need enough money to live on until they reach their 90s. But only around 4.7% of those aged over 65 actually reach their 90s. So most people probably only need enough money to fund their lifestyle into their 70s or their 80s as statistically, that is when a lot of people are likely to die as 95% of the population will die by their 70s or 80s. Indeed, there are also lots of people like myself who live in places like Glasgow who have a 25% chance of dying by 65 and a 50% chance of dying by 70 due to the Glasgow Effect, which means our concern isn't the need for having enough money to cover retirement up until we are 90 but achieving financial freedom so we can retire in our 50s or 60s so that we actually have a few years of retirement. I suggest financial planners will want to factor in a person's socio-economic status etc. to help them determine how much they realistically need for retirement. Someone working as a manual labourer in Glasgow is going to need a lot less in retirement than someone working as a financial planner in London due to adverse mortality rates due to socio-economic factors. These are pretty grim facts, but you can't deny the data as the insurance companies use the same data to work out the premiums for their life insurance policies etc. Indeed, you could argue that where a person falls on the actuarial tables would be a good measure of determining what kind of plan they need for their retirement. After all, if you have a likelihood of dying in your 60s that requires a different plan to someone who is likely to live into their 80s or 90s.
Brilliant points. Applies equally to us Geordies lower down the socio-economic ladder too. Cheers bonny lad.
@@awolgeordie9926 Thanks, and I hope you reach financial freedom and early retirement in your 50s or early 60s so you get the chance to enjoy your golden years.
On 1) Many people would need care when they are older - this is expensive. Also many would like to leave an inheritance to their kids.
2) People born in the 90s have more than 50% chance of reaching 100 years old. For Gen Z the percentage is even higher.
Concerning point 1. They keep saying that the cure to Alzheimer's and dementia is only 5 years away. Considering the reason people need care is because of illnesses like Alzheimer's and dementia I assume that by the time most of the people watching this video and reading this comment reach old age, they will not need round-the-clock care. They may need some support to maintain their independence due to age-related infirmity, but a home help is a lot cheaper than 24-hour residential care which is what you seem to be implying they will need.
Concerning point 2. I live in Glasgow which means as a man I have a 25% chance of being dead by 65 and a 50% chance of dying by 70. Given the age I'll be when I am entitled to receive the state pension it means I am likely to die before ever seeing my state pension despite being made to make National Insurance contributions throughout my working life. And the Tories in Westminster are talking about raising the pension age to 75 which means large sections of the male population in the whole UK won't receive a state pension if that proposal goes through because they will die before ever receiving it.
great video. Will let my childeren watch this video, hope they we act like as you explained :)
Great video as always buddy, just a thought as you are one of the few who are unofficially qualified. 😉 Maybe a video on Sipp pension and providers to consider. Appreciate you work! 🙏
I started at 38 so had a long way to go but i started with Tesla at $38 per shear i put in about 4K at that level before it went crazy. That has given me a nice boost which has got me on track.
Sasha, your content is good. Please consider quality of life updates for you videos, such as on screen text or pictures, so I know where to skip to.
Or bookmarked sections. Or a summary closer at the end.
Huge mention for the Durham at the start of this video!
@sasha good educational video for young adults. Thanks!
any thoughts on Invest Engine?
so true about houses, liability , but most people think otherwise.
I’ve always been a saver and hated being in debt. Been close to loosing my house thanks to people shitting on me at work twice so was ripping in to my mortgage throughout the last 8 years. Mortgage free now and have been saving more and investing in an isa.
I'm part of the 6% woo. Kinda hovering in the 9K-11K range currently. Damn last month was rough in the market. 😅 Comfortably sitting in the 9k range though. Way better than where I was this time last year with only $900 (£720ish).
Oh nice, WeBull is finally over in the UK. Don't mind if I do, thank you very much Sasha. I had a look at these guys before but being in Scotland I couldn't use them at the time as they only served the US.
Great video as always BTW. Way better and more entertaining than watching the BBC and getting their opinion on garbage.🤣😂
Thanks you for making videos about investing in the future for idiots like me. Keep up the amazing work
I’ve worked minimum wage since 16, I’m 25 now.
I’m 39k in stock isa
10k in H2B
And a few thousands in current account.
I’m the least paid out of all my friends, but because I save 50% of my income, and I choose to live with my parents, I save a lot more.
I worked less than minimum wage since 15, 300k in stocks, no debt, 1.3million in the bank and I have practically zero expenses because I live in a bin
@@WillyJunior 😭😭if I had a mortgage or rent to pay. My savings would be a lot less.
@@joshholliss8506 I'm 25. Have about 10k. That £1k+ a month on bills since moving out at 19 really does hit. Sadly my parents are both fuck ups.
@@WillyJunior did you win that 1,3 million pound in a competition called goon of the year award
You might like Wade Phau's work. He has a lot on income rates. Interesting research on if you retired in a different economy. Your first year in retirement etc.
This video was very insightful. How do your prioritise savings and a house deposit? Should you separate the two things? Combine them? Maximise one? Any advice would be greatly appreciated.
You want a 3 month emergency fund, then focus on the house deposit. Investments should be 5yrs+ so cash is king short term
You are the GOAT 🐐😭🙏‼️
I'll take that as a compliment!
Thanks for the great content, Sasha. It will also be very helpful for a good review ETFs to invest in. As you mentioned, S&P has been good so far but with growing tilt toward a few tech giants makes me nervous. Even global ETFs get heavily tilted. So what would make an easy future proof ETF in your opinion for not so savvy investors. And thanks again. Love your content.
Another scary tilt coming as countries are moving away from the 🐍
besides the bank where can i double my money, I believe the bank is ripping me off
Yeah I have to pull my cash from bank of America yesterday to my real estate till I find a better option
I'm making four thousand dollars every week from stock investment, for me I still want more returns but my FA says I should not be greedy that is what blows investment accounts.
That is a good ROI for me however I hope is not the broker guy in Texas charging 50% to clients how is that even smart for someone looking to make some cash
Hey amgengroup5352. who is your FA ? I need to grow some funds just sitting in savings
Jennifer Lilibeth Tibbs look up her name, her charge is not outrageous, not even up to 15% and that's how it should be.
Excellent advice, this is a nice concise basic set of finance concepts. And remember kids, the trick to investing is spend less than you make. Because if you don't have money to invest you can't invest.
Thank God for inheritances - alleviates the pressure somewhat.
With stress I’m under in life I’ll probably be dead before I can retire 😂
Saving for the hardtimes ahead.
Nice! All I need now is to find a Time Machine so I can save for 50 years 😂
I remember being super confused at uni when some of my friends told me they took out the extra loans which were great due to having much lower interest than the typical loan (I'm not talking about the standard student load but a supplementary loan) and how I should've taken it. I'm glad I didn't as it made zero sense to me.
Technically they are the best deal on a loan you will ever get due to the low interest rates (and in Scotland they are paid off when you turn 65)
@@BigGayTurtle Yep that's what they told me which is fair but I simply didn't need the extra cash at the time at all so even though it's lenient I had no need for it but they were telling me how it's like a thing I should take out. Would've inevitably been wasted on silly things and I'd have more debt.
I took out as many student loans as I could and I pay back 20 odd quid a month.
I live in Consett, the shitty bit of durham in the North East of England 😃
Got about nervous about rising costs/not saving enough last Autumn.
Been working a night security job at weekends around my main job since.
Hard work, but am starting to build up a nice safety reserve ontop of my pension savings.
Thinking about overpaying on the mortgage, hate the feeling of owing.
Savings are similar rates to mortgages at the moment. I think having 6-12 months mortgage payments saved up in a cash account gives you a lot more security than paying the same amount off your mortgage balance. You already have two income streams, so that's good!
Hi Sasha great videos v informative. I’ve a question, if you have a euro online trading account and are a small investor should you avoid all fx costs, I mean should I only buy shares that are listed in euros like from German se, and avoid us uk?
Saving about a grand a month living with my parents
Already invested way more than that every month for a while now, however still living with family and have no student debt. Not everyone is fortunate enough to be in this situation but gotta do what i can to get myself ahead as much as possible
Please remember that 50 years ago that 100 a month was the equivalent of 800ish a month. It’s not as easy as he makes out.
@@Shutityou it’s never that easy and it’s always different depending on everyone’s life circumstances it all depends on the current life situation of the individual
I like the idea, but have no clue in this sector. How do we know what to do and where to invest. Those links are alien to me.
Hi Sasha, what does "execution-only service" means in the case of Trading 212?
I calculate my inflation-adjusted growth rate by dividing by rate of return by the inflation rate as opposed to subtracting.
Ex.
Rate: 1.1 = 10%
Inflation: 1.025 = 2.5%
Inflation-adjusted Rate: 1.07317 = 7.3%
I have no savings and no plans to have any savings any time soon, i'm simply here for some education . Already living with the choice of eating or heating at winter. Saving isn't really an option right now , neither is work place pension.
Just to get it strait I just keep topping up that investment account? Even when the market is up or down, do I treat an investment account like a savings account?
Spent my 20's getting a college degree and then traveling. Around 30, I woke up and paid of all my debt by 32(which was hell, but thaught me a lot). I am 34 now and completely out of debt with 25,000 invested. I am definitely behind but things are getting better. Just sticking with it and living well below my means.
You're ahead of the majority of people though
@@WillyJunior thanks man, sadly it never feels that way.
not behind. definitely in top 25% speed.
i was just like you at 34 , all debt eliminated but only 5k saved. 12 years later at 46 i have a 200k property payed off, 150 invested and 50 cash. you are on a good trajectory!
@@NoName-to5xl thank you, that's good to know. Hopefully I'll be in a similar place to you in 12 years.
Sounds a right laugh 😢
iam 22 saving 1,5k a month, living with my parents
When you quote monthly figures to save or invest, are you including pension contributions, or are your figures extra to pension contributions?
I wish more people would echo that message about your personal home not being an investment. It's a secure place to live and a best a vehicle for savings. By the time you've paid off your mortgage, with interest, plus the carrying cost over the years you'll be luck to break even in most cases. Not to mention the government wants CGT even though their we aware there's no real capital growth on the actual cost paid for the property
Yeah. It's interesting how mortgage interest can't be used to offset capital gains while costs of buying/selling and enhancing the property can.
sasha ule find the razors in the bathroom cabinet behind the untouched shaving cream
22 yrs old and dreading the day my parents kick me out of the home ahaha - been able to put away almost £1200/month into my vanguard acc.
Bit worried about the state of the UK economy atm so wondering if I should move more of that money away from the UK-weighted Lifestrategy fund and into the FTSE global all cap instead? Atm I'm investing in both as a 50/50 split
As you say, everyone's lifestyle is different: and it's tempting to be a tight old bastard when I retire based on those projections.
FYI Durham isn't cheap, but County Durham generally is.
I was being shorthand
looks like i'm moving to durham then...
Why bother with the 4% rule when you hit 70? Why leave $1.7M behind when you die - the government will get most of it? Spend it while you’re still here, spoil the people you love while you’re still alive and try to die with zero. You don’t necessarily need $1.7M to retire, and you can retire comfortably on a lot less, a lot younger. JS.
Of course you should enjoy ur retirement but most kids love having some legacy and it help them start their life ,in the past of ppl could afford owning houses and starting a business just cuz their parents left some inheritance behind
Nice video, thanks
Some more complex paths to take such as private pension accounts, which give potentially better returns than investment accounts.
However great detail all the same
Additionally, splitting the investment in degrees of accessibility is a worthy consideration, should you need it along the years
I left home at 17 and have worked extremely hard to accumulate some assets, my plan is to pass on a property that’s been paid off to my daughter when she is old enough to be independent or start uni…plan is…she won’t have a mortgage to pay but whatever’s the rent/mortgage would’ve been she will allocate that money (which she would have had to pay to live in a similar property) into a pension plan. The choice will be either get your own flat and pay rent…or live in my property for free and use that £ to pay into a pension..hope to god this works out 😂
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The stock market rally run is gone, but I'm not sure if equities will swiftly recover, keep falling, or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $85k reserve.
These are very valuable info for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.
Haha. I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with Eric Thomas Witt, and he's really good.
He appears to be well-educated and well-read. I ran a Google search on his name and came across his webpage; thank you for sharing..
Is the poll correct?
Some people might pedantically distinguish between savings and investments.
Some people may say they have no savings but have pensions and investments.
I had no savings at 38 as a single parent who had just completed a degree, I had about £8000 debt. I bought 30% of a shared ownership flat at 40. I worked in the public sector and paid into their final salary pension. Now 20 years later I have just started collecting my pension, got a lump sum of £40k and have invested most of that and have other savings too and am stashing extra money into a SIPP. I'm still working full time to pay off my mortgage and am paying into the newer pension scheme. My plan is to work full time for 3 more years, pay a chunk off my mortgage and then reduce hours by half. All this is to say that even if you are late to the game, you can still do alright and make sure you pay into employers pension schemes!
Surely you don’t need to retain the full amount until you die. If you retired at 65 with 1.7m you’d have nearly 70k a year making nothing on investment for 25 years.
Great advice just days before the 18th September 2023... The Great Stock Market Crash!!! *** Black Monday 2023 ***
Never invested in my life and I'd have no idea where to start. I see accounts advertised by big banks and also the ones in your description, which one should I be picking to invest with?
Watch other Sashas videos, where he actually covers the beginnings of investments and couple apps which you could use to start investing. Good luck!
I am only 25 but started investing in mostly TSLA even before covid. Currently it looks very likely that I will be able to retire in mid 30's even if few things go wrong.
Hi Sasha I have a question regarding etfs I invest in both the S&P500 (£VUAG) and the FTSE all world (VWRL) should I keep investing in both or is it better to just pick one of them? Thank you
70% VWRL and 30% VUAG.. more VUAG if you’re under 40
@@spacecadett Thanks for the reply, I'm 20 and currently have 17 VUAG shares and 15 VWRL shares
I find that 60% of people a difficult figure to believe because most people work and there is an automatic workplace pension scheme, which is employer matched upto a certain level and a pension is the best place for most people to save for retirement.
I will have about 400k saved up when I retire in 10 years time when I'm 60
That's MORE than enough to live on over the next ten or so years
I will collected state pension of 11 grand a year when I'm around 68
And if I'm not dead by 75
Like all people that age I know ,I won't need much money to be happy
This million pound pension pots I hear about are ridiculous
And the amount of people who die with 100s of thousands in the bank is unbelievable,do they not realise they can't take it with them ?
400k at 60 doesn’t seem enough, that’s minimum wage for 18 years. At 4% return and withdrawals increasing by inflation.
@@coderider3022 how do you work that out ?
@@coderider3022 remember when I hit 67 I’ll get 11 grand a year state pension
I live very comfortably now on 12 k a year £1000 a month )
My basic salary is 32k a year
50 percent of this goes st8 into my pension
I do overtime at work ( on call twice a week and do the odd Sunday shift which is double time
So my wages vary month to month taking home between 2000 and 3000 per month after tax and ni and 50 percent of basic goes into pension
Out of this between 2 and 3 k I month I take home
I transfer 1000 into my current account
Give the wife 500 a month and she puts in 300
That 800 a month pays
Gas
Electric
Council tax
Water bill
House insurance
Petrol for car
Food
Broadband
Netflix
And I have 500 a month pocket money
And the rest of my wages ( between 1 and 2 k
Goes into my savings account
Most of that is invested in isa etc and rest pays for our 4 holidays abroad a year
When ya very very thrifty
Ya can live very very well on not much money
I live mortage free
And drive a ten year old car
That’s where most people’s wages go
Mortage and 400 a month on a stupid new pcp car
At 50 we have put away around 400-500k and own a flat in Japan, that will be topped up over the next ten years with another 200-300k plus a full UK state pension * 2 when that kicks in. Neither of us have any intention to retire; we'll just transition to hobbywork.
Does this include 401Ks and IRAs? Is that included in "savings" and how much you need to save by each age?
What if you're starting at 53yo? Also, I'm surviving on £23K a year. In civil service the past 3 years, so finally on a decent pension. Renting, I'll never be able to buy at this age.
is there a spreadsheet somewhere?
Invest in s&p500 or Berkshire Hathaway?
Why estimate 3% @$50K whilst you don't eat away at your base, everybody dies, how about planning for average expiration +10yrs, say 81yrs if male, then plan for 91 to die, retire at 65, gives you 26years to consume all your savings/pension, you would need significantly less.
Thanks for the video Sasha!
When people say "Just stick it in the S&P 500".. What does that actually mean? Where can I just stick it? Is there a website or a link where I can sign up and "Just stick it"? Thanks
There are many index funds that track the S&P 500 - which is the biggest 500 companies by market cap in the US. In the uk such index fund is the VUAG which is a Vanguard fund for example. Using brokers like Fidelity (and many others) will allow you to buy/sell this index.
As far as I'm concerned, for the average person, the financial system in the US doesn't work. There are so many traps, fees, and expenses, that you can not save squat. The world financial and social paradigm is collapsing, and they know it. There is a critical mass of people that just can't survive in the current system. Going to work while living in one's car with a wife and kids is not living. It's existing in the most primitive way.
I guess we can consider the UK pension plan as a saving, right?
Yes
Dude where were you 20 years ago when I was in my twenties lol.. Living with fuck ups from my younger life is hard 😅
I was one of the fuck ups you lived with.
I have about £1500 that's all, but I have no debt and own my house outright . I'm 54, a single mum with 3 kids, one off to university and I don't know what the other 2 will do but they'll want me to help them out £££.
However I DO desperately need to save!!
Well - being a single mum with 3 kids is a heck of a challenge as it is. Hat off to you. But remember that although the best time to start investing is 33 years ago, the second best time is today. 👍
It's time young people learn the hard lesson, nobody owes you anything. Get up and stand on your own feet.
No gap year, no property deposit, they will only get it repossessed
@@SashaYanshinthank you Sasha! Very good advice to start saving now, I will do. I've started to worry about it now which is actually a good place to be. I only work 20 hours a week so don't earn a lot, I keep my work hours down to be there for the kids - there's the blessing of no mortgage and rent. Why haven't I saved before - life got quite difficult, a nearly 30 year storm that abated quite recently - thoughts were getting from one day to the next. Plus about 8 years not earning. I love wood work and would love to make and sell things to go towards retirement and I'm building a wooden cottage in my garden I could rent out. When the kids are a bit older I'll up my hours too.
Im screwed 😢
Oh SHIT! I fucked up.
I’m currently 23 have about 8k in a LISA and another 6.5k in savings.
I’m worried about putting all my savings into the stock market incase of potential losses.
What percentage of my savings would you put in and what would you keep as a safety net?
Cod liver oil for the win?
As an Asian who work in western countries, I am always curious since we are edutucated to save money in our culture.( But yep, unfortunately Asian workers don't have life balance that much).
Where do money go when we make the same salary for those who don't save or invest?
Does investments count as savings?
I've gone from putting £100-£200 into my savings every month to taking £100-£200 out my savings every month. Just to live in the same house
This theory is great but why would you want to leave 1.7m dollars in investments when your dead???
My biggest weak point is my actual income. I'm very adverse to conflict, competition and change. Therefore after 7 years in my job with pay rises below minimum wage, I'm unsuprisingly now on min wage again. I'm 33 with just £7k in my pension. On the plus side I do have another £7k in savings, 4k EM fund and share a mortgage with my parner which is sat at 1.3% (£550/month) until mid 2027 which should be paid off by the time we're 52. I'd like to save more but I just don't earn enough to do it. We'll be F'ed, but not as much as badly F'ed as some.
Just need to weigh up whether you value avoiding conflict more than securing retirement. Have you tried contacting your GP about it? It may be anxiety
@@elliotpollard9083 Maybe although I feel it's more just my personality I'm just natually very passive & easy going. My weak points are not ideal for most profit/target focused professions but I'd likely naturally excel in social care settings such as working in care homes, rehabilitation or supporting those with additional needs. I probably would however benefit from some sort of councelling to improve my motivation and drive to switch to a better paying job.
I saved 100k in an isa in stocks which is down from 180k high though. Plus over 50 to 60k in sipp. 39 years old. If my shares return to their highs though I’ll have 500k or more 😂
do you enjoy the money through living life or do you just like collecting number?
@@1nilu1 I probably should have double but I spend to much on expensive luxury’s
Pension more tax efficient so you might want to focus more on that.
@@Cassp0nk If all their Stocks and shares are in an ISA, then it's all tax free and better than a pension since you'll have access to the stocks. A lot of people don't make it to pension age anyway.
@@Cassp0nk I didn’t pay tax on most of that anyway but I don’t want the government telling me when I can use it and how much they gonna tax me on it when I want it.
I'm 42, I have around £300k invested 100% in equities in various pension funds globally that I manage. A small defined benefit pension of about £17k, £75k in cash in high-interest saving accounts because we plan to buy a property abroad soon, £10k in JISA's for the kids a mortgage of £170k on a £650k property. I invest the full amount now of £60k per year in my pension to catchup to my target and I started maxing it out only 2yrs ago. Before this I was only investing about £15k per yr so losing many tax incentives. Turning 40 was a wake up call for me.
Age 20, at uni and run a business.
105k savings
320k buy to let property in UK (50k equity in, rest finance and mortgage)
Pensions 25k
ISA 18k only started this year :)
No money in LISA, it’s a scam.
Car, bikes and other liabilities ~ 25k
£410 in credit card debt, paid beck every month
In no way is this a criticism as I do enjoy watching your content but somewhat puzzled with your view on the S&P 500.
You say that it’s up considerably this year but if I look at vusa a S&P tracker it says it’s only up 3.6% YTD. Is there some kind of amazing tracker I am missing?
Also as there are lots of bank accounts offering 5% + is it worth opting for a tracker at all and stick with individual stocks as they offer a greater return.
Thank you for clearing that up Sasha much appreciated.
What I'd like to see is a video where, instead of assuming I want to live forever upon hitting retirement, the calculations assume I want to live until 80 and spend all my money before I die.
Interesting. What happens if you live beyond 80 to say 95?
And it's impossible to make a RUclips video where I cover every single person's preferred timing of retirement vs clocking out :)
I've wondered something similar. Is there really any point being a diligent saver your whole life only to have it all taken back for exorbitant care home costs in your old age? I love the security owning my home mortgage free gives me and that was definitely worth sacrificing for, but it almost seems like a bad idea to accrue too much cash for retirement when (currently at least) the state will provide for you, but only if you have no savings. As things stand often people get punished for being responsible and thinking about the future!
@@candybracelets Your home can be taken as payment/collateral for your care home too. Same difference.
The difference here is if you have saved/have a property you might be able to use it to fund decent care in your old age rather than suffering the awful care provided by the state.
Also worth remembering that a lot of people die before they ever need care. Enjoy it while you can and don't assume you are guaranteed to make 80 (let alone 95).
@@SashaYanshinThat's true, but even in the worst case scenario my home will at the least have provided me with a lot of value and happiness before it's sold. Cash on the other hand could potentially provide me no real benefit whatsoever depending on what the future holds. Having said that the cash could also come in extremely handy if the UK continues to go to shit and state support isn't a thing when I retire. I rather enjoy eating and not freezing to death, so I shall probably be forced to continue saving money and watching your excellent finance content. Curses!