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High risk, high reward: A pauper's dream of early retirement.
Comments
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With average wages at £38k a year, there aren’t many who can afford any saving contributions into ISAs!
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I'm not sure your comment is true. Over fifteen million people a year regularly save or invest money into ISAs in the UK (Two thirds of which are cash ISAs.)
It comes down to priorities.
Think first of your goal, then make it happen!2 -
There are certainly a big number of adults who cannot…but this forum tends to be inhabited by people curious with how to best save/invest🤷♂️
This tends to mean those reading these hallowed pages might be quite likely to be able to chose how to split their finances up 😉
As always, suggestions here are just that, to be taken with the appropriate seasoning: disagreeing is perfectly acceptable 😎Plan for tomorrow, enjoy today!2 -
why? 38k is a decent salary. I don’t earn anywhere near that but still manage to put away a decent amount each month.
Staying out of debt, avoiding keeping up with the Jones’s, not having brand new cars on finance and being mindful of where our money goes each month is the answer.
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£38k is a rubbish salary. Wages have been repressed for 20 years. We really need to get of this poverty wages are alright mindset.
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The champagne goes off when you pass such a milestone…and then you realize that you have to pay tax on DC pension accumulations and so your million is actually substantially less in reality. This is why ISAs are a lot more fun.
And so we beat on, boats against the current, borne back ceaselessly into the past.3 -
Without getting too political, that graph shows exactly why large parts of the public are disillusioned with politics/the status quo, because for years they have not felt any better off.
Although more than anything it is not really politicians, but the aftermath of the GFC, as can be seen from the date the two lines diverge.
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It's an interesting graph but it appears to show that real disposable income has stayed flat or gone up only slightly since 2008, versus going up quite quickly in the decades prior. A lot of folk seem to be claiming they are worse off, but you would think that disposable income should be a proxy for standard of living, in which case on average people are not worse off - they just stopped getting better off each year?
Begs the question - should people expect to automatically get a higher standard of living every year ad infinitum and be miserable if that doesn't happen?
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you might call it a rubbish salary but I can live permanently well on 7-8k below that without any impact on lifestyle.
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How much are you able to put into a pension / savings you a year? Not much I can imagine.
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