Many people seem impatient with investing

Bigbobby

Is it just me or when it comes to investing people mot only illiterate but are also are very impatient?

I keep my investing simple: global index fund and a bond index fund in a stocks and shares isa. I am still rather young so the majority percentage is made up of equities and a smaller percentage in bonds. I also have a SIPP and make additional payments in NHS pension scheme. Before i started investing I cleared all high interest debts and built an emergency fund. My medium/long term plans to to take early retirement in the the next few years.

Maybe it is because index funds are seen as rather boring, invest each money, rebalance each year and keep it invested for at least 5 years?

Quick investing is more exciting, macho, champagne, women, fast cars. People want that adrenaline rash rather than wait?

We now live in a society which wants things now rather than wait and often live beyond our means and get into debt? Large houses and cars, eating out, designer clothes?

From listening to other people whether that be family, friends and colleagues these are some examples:

-One colleague once expected an instant return when you put money into a stocks and shares isa. Really you should wait at least 5 years and ideally longer.

-I know people also wanting to buy gold "because it has done very well recently". In fact gold is poor inflation hedge and can be erratic. It pays no dividends, coupons or interest.

-Crypto seems popular especially with younger people wanting quick gains even though it is just speculation and crypto has no mainstream usage.

-Being very concentrated picking individual stocks. "My son have bought x thousand with BAE systems because they are going to do well with all the current problems in the world." They do not know that for certain though and it is high risk being so concentrated.

The reason I am posting is just because I find it rather concerning the way society is heading. Just wondering what other people's observations and opinions are as to whether people are often impatient with investing?

jimjames

Very true but probably a sign of human nature wanting instant gratification. Get rich slowly really is the way that most achieve it.

Dazed_and_C0nfused

https://forums.moneysavingexpert.com/discussion/6659224/many-people-seem-impatient-with-investing

I was like that once upon a time but the adrenaline rash was awful and I spent all my gains on cream to treat it.

So I stick to the boring funds now and have an itch free life.

elsien

When you say people, do you mean men, because macho and women are not really my thing. Fast cars and champagne I could happily do though.

HedgehogRulez

I don’t know mot you’re talking about tbh

Eco_Miser

Bigbobby wrote
The reason I am posting is just because I find it rather concerning the way society is heading.

Society isn't getting worse it's always been that way.

There used to be football pools - win hundreds of thousands of pounds, now there's lotteries - buy a ticket in nearly any newsagent and It could be YOU that wins millions. Or a scratch card for instant gratification (or disappointment)

Invest in the South Sea Company back in 1720, or a company that went public in 1720 as "a company for carrying out an undertaking of great advantage, but nobody to know what it is".

Now there's bitcoin.

Ever watched a raffle stand at carnivals, fayres and similar public entertainments? Swarms of people buying tickets as fast as the workers can take the money. Instant gratification or have another go.

Make money fast (and lose it even faster) has always been around, but now you can speculate on the fortunes of companies on your smartphone from anywhere. Minimal friction, leading to even more impatience.

EDIT: When I wrote raffle above, I meant tombola. Raffles sell almost a quickly but are not instant gratification.

Bostonerimus1

Your investing approach aligns with what I've been doing for the last 35 years. I'm currently retired with a 4 fund portfolio. I prioritized frugality and tax advantaged investing and have averaged over 10% annual return. I didn't do that with any market insight, just time, constantly playing the averages and keeping costs low.

boingy

The impatience is not helped by the current crop of TV adverts from folks like AJ Bell and Trading 212.

They make it look like you can get rich quick with a couple of swipes and be cool whilst doing it.

And you get to ride a giant bell across a golf course.

Investing is slow and fairly boring!

cloud_dog

https://forums.moneysavingexpert.com/discussion/6659224/many-people-seem-impatient-with-investing

It is the YOLO / FOMO heard mentality.

aroominyork

https://forums.moneysavingexpert.com/discussion/comment/81919718#Comment_81919718

Yesterday I got a pop-up ad from one of the trading platforms saying I can trade oil. I guess an intern AI bot in their marketing dept came up with that.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81919632#Comment_81919632

I was going to say something similar. These different traits in different people have been around for centuries, as have scams/ get rich quick schemes.

You could argue that with modern communications this is more rife, but on the other hand it allows you to research into things easier.

Since the ending of BBC publishing market info, I use Yahoo Finance. In the news section every third article has a picture of a robot and trading screens. 'New AI app turns £200 into £15,000 in a week' Some people must fall for it or they would not keep paying for these adverts.