The only part of the example so far I’ve seen which isn’t the case for majority of people. You don’t get a increase in salary of 3% each year. Rarely you get a pay rise
That’s sadly very true for most people….the only way to really get large pay rises it to switch jobs which is exactly what I did 18 months ago. Generally speaking the longer you stay with a company the worse, and the smaller those pay increases get.
Key is limiting your fixed costs. I retired at 55 to SE Asia, and live very comfortably on 2.5-3k a month. Geo Arbitrage is the way - Smarter not Harder
I see. Hum few of my friends have that much at 55 some much much more if inherited. If people divorce and half all they have unlikely if single have a huge amount. Also depends if up North or equity release. 😊
Interesting to hear. You're right, everyone's situation is different and many factors can determine your wealth so it's always worth looking at averages with a pinch of salt.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
Medians were where I though, but surprised the average was so low!
Quality video, Matt, Keep it up
Cheers Andrew! Plenty more videos coming in the next few weeks 📽️
Nice video covering a lot of possibilities.
It should get people thinking.
Thanks Pete, I hope so 👍
3.75% pay rises is not realistic… 2% inflation is also unrealistic… fidelity, you’ll need a lot more than 8x salary
The only part of the example so far I’ve seen which isn’t the case for majority of people.
You don’t get a increase in salary of 3% each year.
Rarely you get a pay rise
Sadly many people's salaries aren't increasing at 3% let alone current inflation figures hence why it's important to set your own metrics and goals.
That’s sadly very true for most people….the only way to really get large pay rises it to switch jobs which is exactly what I did 18 months ago. Generally speaking the longer you stay with a company the worse, and the smaller those pay increases get.
Also it's not great for staff retention which I imagine comes at a cost too!
Its important to also check how much of the population is in debt. Credit card, personal loans, student loan and car loans.
Key is limiting your fixed costs. I retired at 55 to SE Asia, and live very comfortably on 2.5-3k a month. Geo Arbitrage is the way - Smarter not Harder
How come everyone assumes your mortgage is paid or you do not pay rent.
Esp if single harder to save. Is measurement based on singles or .married divided?
Which measurement are you asking about Sarah? The figures used between 1:42 and 2:59 are based on someone who's single
I see. Hum few of my friends have that much at 55 some much much more if inherited. If people divorce and half all they have unlikely if single have a huge amount. Also depends if up North or equity release. 😊
Interesting to hear. You're right, everyone's situation is different and many factors can determine your wealth so it's always worth looking at averages with a pinch of salt.
£23,000 income in retirement for a "moderate" lifestyle .. ? yeah, about half the people I know working full-time don't even make that in a year.
another channel to sub to.