I have a Degree in Business and a Master in Finances, in my studies none spoke about Money, I started investing in the stock market 4 years ago, I wish I would have started 20. Years ago.
Saying average life expectancy was 47 is very misleading. Infant mortality was very high which is why people had big families as the expectation was that several infants would not survive to adulthood. This brought the median average age down. People still lived into their 70s and 80s even back when the state pension started. This "average life expectancy " is spouted by politicians who want to support raising state pension ages, dont buy into it.
Same, I wish I'd found it waaaay earlier in my life. Imagine if your teacher had handed you a copy on your last day of school, where would you be today?
Factoring in auto enrolment pensions and the contributions from govt and employers it's doable if ur in salaried employment and as taken at source most people won't notice as much as paying 10% urself into a SIPP etc.
Real change and improvement to our lives comes from supporting working class movements, not by being a money saving expert. I mean, you can do both, but there comes a point where you cant really do anything to save any more money other than something like live in your car, or only eat grass.
There's always a limit to how much you can save but there's no limit (theoretically) to how much you can earn. Thus it's always better to try to earn more than save on lattes and avocado toasts
@obersoth09 i think this idea that we are free to earn as much as we want (anyone can be wealthy - its just a choice!) is part of this neoliberal capitalist ideology that no one believes in anymore because it is proven to be bogus. Sure, be positive minded and try to take every opportunity you can, but dont beat yourself up if you can't earn more. Social mobility and hence opportunity is created by having a strong social welfare system, good and affordable medical support, good state education, etc. My point is, one should focus on understanding the socio-economic circumstances one is in and understanding the limitations imposed by them, than by believing there are no limitations and it is all down to how much hard graft one puts in. If people can understand the socio-economic circumstances they are in then it might help to usher in a working class movement which can really provide opportunity for social mobility.
Junior SIPP makes more sense than JISA for what he is on about (saving for the kid for access in their 50s), and gets 25% bonus (20% relief). Can only put in 2.8k a year pre relief though.
I'm sorry but is he really excited about the prospect of a future where people are going to be working still when they're 90? I'd honestly rather die than still be slogging my guts out at that age. Maximum earnings potential be damned. This is exactly why there is so much pessimism about. Our system is fucked, it's just that nobody wants to admit it.
Thats not what he's saying at all, this snippet just focuses on our lengthening lifespans. Check out the full video, its about investing long term and allowing your money to work for you, rather than having to work until you're 90. His book can be absolutely life changing and these are very easy things to achieve by opening a Stocks and Shares ISA and consistently investing in a global index fund!
I have a Degree in Business and a Master in Finances, in my studies none spoke about Money, I started investing in the stock market 4 years ago, I wish I would have started 20. Years ago.
Saying average life expectancy was 47 is very misleading. Infant mortality was very high which is why people had big families as the expectation was that several infants would not survive to adulthood. This brought the median average age down. People still lived into their 70s and 80s even back when the state pension started. This "average life expectancy " is spouted by politicians who want to support raising state pension ages, dont buy into it.
This was a great one. I've got his book poised for when I finish Morgan Housels Psychology of money.
I like Andrew Craig, and his book was that light bulb moment that gave me some investing direction.
Same, I wish I'd found it waaaay earlier in my life. Imagine if your teacher had handed you a copy on your last day of school, where would you be today?
Thank you so much for getting Andrew on!
most people would love to have 10% spare each month to put away, reality is they don't
Factoring in auto enrolment pensions and the contributions from govt and employers it's doable if ur in salaried employment and as taken at source most people won't notice as much as paying 10% urself into a SIPP etc.
Real change and improvement to our lives comes from supporting working class movements, not by being a money saving expert. I mean, you can do both, but there comes a point where you cant really do anything to save any more money other than something like live in your car, or only eat grass.
There's always a limit to how much you can save but there's no limit (theoretically) to how much you can earn. Thus it's always better to try to earn more than save on lattes and avocado toasts
@obersoth09 i think this idea that we are free to earn as much as we want (anyone can be wealthy - its just a choice!) is part of this neoliberal capitalist ideology that no one believes in anymore because it is proven to be bogus. Sure, be positive minded and try to take every opportunity you can, but dont beat yourself up if you can't earn more. Social mobility and hence opportunity is created by having a strong social welfare system, good and affordable medical support, good state education, etc. My point is, one should focus on understanding the socio-economic circumstances one is in and understanding the limitations imposed by them, than by believing there are no limitations and it is all down to how much hard graft one puts in. If people can understand the socio-economic circumstances they are in then it might help to usher in a working class movement which can really provide opportunity for social mobility.
Junior SIPP makes more sense than JISA for what he is on about (saving for the kid for access in their 50s), and gets 25% bonus (20% relief). Can only put in 2.8k a year pre relief though.
And your child isn’t able to access the funds at 18
5k, 5% (after inflation) for 55 years is 73k.
Based on what inflation rate?
😂
Fui guys like the vids keep them coming
Everyone wants to be rich now
I like this guy. Contrarian. Buy bitcoin before the system crashes.
I'm sorry but is he really excited about the prospect of a future where people are going to be working still when they're 90?
I'd honestly rather die than still be slogging my guts out at that age. Maximum earnings potential be damned.
This is exactly why there is so much pessimism about. Our system is fucked, it's just that nobody wants to admit it.
Thats not what he's saying at all, this snippet just focuses on our lengthening lifespans. Check out the full video, its about investing long term and allowing your money to work for you, rather than having to work until you're 90. His book can be absolutely life changing and these are very easy things to achieve by opening a Stocks and Shares ISA and consistently investing in a global index fund!