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  • FIRST POST
    • Vet
    • By Vet 7th Feb 19, 3:00 PM
    • 86Posts
    • 58Thanks
    Vet
    If you could go back in time...
    • #1
    • 7th Feb 19, 3:00 PM
    If you could go back in time... 7th Feb 19 at 3:00 PM
    If you could travel back in time and give a 20-something year old version of yourself advice on investing, what would you tell them?

    What advice would you give to a 20-something looking to invest now?

    I currently invest via L&G through a S&S ISA - only 150/month split into 3 trusts - UK 100 Index, US 100 Index and Global 100 Index. Since i'm only 25 I wouldn't change what i've done so far (yet)!
Page 3
    • POPPYOSCAR
    • By POPPYOSCAR 10th Feb 19, 12:51 AM
    • 11,791 Posts
    • 25,605 Thanks
    POPPYOSCAR
    While there's lots of good advice above one thing to remember is tomorrow isn't guaranteed.

    While it would be foolish to live like there's no tomorrow it's all about striking the balance between living in the present and preparing for the future.

    There's no point having a pension of 2000 a month if you haven't the health to travel and spend it.

    There's no point turning down every social occasion because soon enough youl find that no one invites you to anything and ultimately when you do fancy a night out, you've no one to call on.

    People say about not travelling or going on holidays but I'm a firm believer that you need to see some reward for your hard work. Nothing wrong with a week or two away each year done in a cost effective manner.

    Your on the ball preparing for the future but don't let that get away from the present. And after all you could make all the sacrifices to live well in 20 years only to die the year before.

    Strike the balance right and you will be ok. You sound like you have your head screwed on.
    Originally posted by Retireby40

    You make a very good point.

    Having over the last 4 years lost a niece age 31, nephew age 39 and brother age 47.

    Live your life.
    • Zero Sum
    • By Zero Sum 10th Feb 19, 1:08 AM
    • 733 Posts
    • 594 Thanks
    Zero Sum
    Start investing earlier & not to spend that Kew Gardens 50p i had 3 months before it became known it was rare & worth a bit more.
    • Zero Sum
    • By Zero Sum 10th Feb 19, 1:13 AM
    • 733 Posts
    • 594 Thanks
    Zero Sum
    While there's lots of good advice above one thing to remember is tomorrow isn't guaranteed.

    While it would be foolish to live like there's no tomorrow it's all about striking the balance between living in the present and preparing for the future.

    There's no point having a pension of 2000 a month if you haven't the health to travel and spend it.

    There's no point turning down every social occasion because soon enough youl find that no one invites you to anything and ultimately when you do fancy a night out, you've no one to call on.

    People say about not travelling or going on holidays but I'm a firm believer that you need to see some reward for your hard work. Nothing wrong with a week or two away each year done in a cost effective manner.

    Your on the ball preparing for the future but don't let that get away from the present. And after all you could make all the sacrifices to live well in 20 years only to die the year before.

    Strike the balance right and you will be ok. You sound like you have your head screwed on.
    Originally posted by Retireby40
    Exactly. Life is for living but its striking that balance of being responsible & still enjoying yourself.

    There was a comment about drinking soft drinks instead of alcohol, why?
    In bars soft drinks are just as expensive & after a few alcoholic drinks people become annoying so you need the alcohol just to not notice it as you're equally as bad.

    If you live like a hermit you'll end up being loaded but you cant take it with you so whats the point?
    • David_Evans
    • By David_Evans 10th Feb 19, 1:41 AM
    • 248 Posts
    • 127 Thanks
    David_Evans
    Exactly. Life is for living but its striking that balance of being responsible & still enjoying yourself.

    There was a comment about drinking soft drinks instead of alcohol, why?
    In bars soft drinks are just as expensive & after a few alcoholic drinks people become annoying so you need the alcohol just to not notice it as you're equally as bad.

    If you live like a hermit you'll end up being loaded but you cant take it with you so whats the point?
    Originally posted by Zero Sum
    I think the problem is that a lot of people still haven't faced up to the way the UK is changing.
    As the economic conditions get worse, people need to adapt and start saving.
    If you carry on with your head in the sand, thinking it's still the 1990s, you could run into problems...
    • Alexland
    • By Alexland 10th Feb 19, 7:46 AM
    • 4,474 Posts
    • 3,819 Thanks
    Alexland
    If you live like a hermit you'll end up being loaded but you cant take it with you so whats the point?
    Originally posted by Zero Sum
    To help our children in a world that is looking increasingly difficult to get the same results as our parents. That's a lot of my motivation to stash money away. Plus I am lazy so want to retire early.

    Alex
    • dont_use_vistaprint
    • By dont_use_vistaprint 10th Feb 19, 8:09 AM
    • 377 Posts
    • 111 Thanks
    dont_use_vistaprint
    I would tell them 2 things , as anymore they switch off :-)

    1) Invest in your skills, earning ability, work hard and smart in every job, dont be lazy or expct an easy life, know when to leave and take the next challenge. If you earning 200-300K by the time you are in your forties you wont be worrying about a pension, paying off the mortgage etc.

    2) No matter what you earn , always live on 80% of what you earn, use 20% to be generous and save / invest.

    3) Live life to the max - they've switched off by this point... :-)
    Last edited by dont_use_vistaprint; 10-02-2019 at 8:12 AM.
    "It is not the critic who counts..." - Theodore Roosevelt
    • Zero Sum
    • By Zero Sum 10th Feb 19, 9:59 AM
    • 733 Posts
    • 594 Thanks
    Zero Sum
    To help our children in a world that is looking increasingly difficult to get the same results as our parents. That's a lot of my motivation to stash money away. Plus I am lazy so want to retire early.

    Alex
    Originally posted by Alexland
    I dont yet have kids but im with you on the early retirement.

    People think im a bit tight but i still go on holiday, go to football, go see live bands, nights out etc. You cant just stop in & do nothing.
    • David_Evans
    • By David_Evans 10th Feb 19, 12:24 PM
    • 248 Posts
    • 127 Thanks
    David_Evans
    I dont yet have kids but im with you on the early retirement.

    People think im a bit tight but i still go on holiday, go to football, go see live bands, nights out etc. You cant just stop in & do nothing.
    Originally posted by Zero Sum
    I would call that an extravagant lifestyle.
    I've given up alcohol because I just hated the thought of giving that duty / tax to HMRC.
    • Domayne
    • By Domayne 10th Feb 19, 12:42 PM
    • 587 Posts
    • 1,318 Thanks
    Domayne
    Nothing, 20 year old me wouldn't have listened anyway
    Saved so far - 25,880.79
    ~Selfish is the name that the jealous give to the free~
    Save 12k in 2019 #18 2,479.25/12000
    • Zero Sum
    • By Zero Sum 10th Feb 19, 1:12 PM
    • 733 Posts
    • 594 Thanks
    Zero Sum
    I would call that an extravagant lifestyle.
    I've given up alcohol because I just hated the thought of giving that duty / tax to HMRC.
    Originally posted by David_Evans
    I also brew my own
    • lpgm
    • By lpgm 10th Feb 19, 1:21 PM
    • 266 Posts
    • 153 Thanks
    lpgm
    I currently invest via L&G through a S&S ISA - only 150/month split into 3 trusts - UK 100 Index, US 100 Index and Global 100 Index. Since i'm only 25 I wouldn't change what i've done so far (yet)!
    Originally posted by Vet
    Well, that global fund seems to be 64% US and 10% UK already, so I'd probably rejig things.
    • Retireby40
    • By Retireby40 10th Feb 19, 3:48 PM
    • 31 Posts
    • 17 Thanks
    Retireby40
    David Evans I wouldn't call having a holiday once a year, going to a concert or two or football match or having a few nights out extravagant.

    Now had he said he has a season ticket at United, necks 10 pints every Saturday, goes on 3 holidays a year and drives a bmw I would tend to agree with the extravagant.

    You only have one life that can be snatched away from you at any given moment. What is the point living a life just work and save. When are you going to start truly living? When your 65 and your health is bad? Or when you have to help your children with their grandchildren? Or when your partner is ill and you have to be there career?
    • Zero Sum
    • By Zero Sum 10th Feb 19, 4:30 PM
    • 733 Posts
    • 594 Thanks
    Zero Sum
    David Evans I wouldn't call having a holiday once a year, going to a concert or two or football match or having a few nights out extravagant.

    Now had he said he has a season ticket at United, necks 10 pints every Saturday, goes on 3 holidays a year and drives a bmw I would tend to agree with the extravagant.

    You only have one life that can be snatched away from you at any given moment. What is the point living a life just work and save. When are you going to start truly living? When your 65 and your health is bad? Or when you have to help your children with their grandchildren? Or when your partner is ill and you have to be there career?
    Originally posted by Retireby40
    Exactly. I tend to go on one cheapish holiday to the med. Although we've pushed the boat out this year & doing something a bit different which costs a bit more. My season ticket works out at 13 a match, add of a few beers total cost 25 once a fortnight which is pretty much the only time i can get together with mates for a few pints. Concerts are only 1 or 2 a year. I drive a cheap 2nd hand small hatchback. Its not in the slightest extravagant. I am quite frugal but you still need a life. And giving up drink just cos quite a bit goes to HMRC is a bit sad really.
    • David_Evans
    • By David_Evans 10th Feb 19, 6:48 PM
    • 248 Posts
    • 127 Thanks
    David_Evans
    Exactly. I tend to go on one cheapish holiday to the med. Although we've pushed the boat out this year & doing something a bit different which costs a bit more. My season ticket works out at 13 a match, add of a few beers total cost 25 once a fortnight which is pretty much the only time i can get together with mates for a few pints. Concerts are only 1 or 2 a year. I drive a cheap 2nd hand small hatchback. Its not in the slightest extravagant. I am quite frugal but you still need a life. And giving up drink just cos quite a bit goes to HMRC is a bit sad really.
    Originally posted by Zero Sum
    Also made easier by the fact that most of the pubs near me have changed into kebab shops or barbers.
    • somethingcorporate
    • By somethingcorporate 10th Feb 19, 8:26 PM
    • 9,120 Posts
    • 8,802 Thanks
    somethingcorporate
    I was in business school at uni 15+ years ago. I had to write an essay comparing the strategy of a good company (I chose Amazon) and a bad company (Woolies). I should have taken my own advice and invested my student loan in amazon! At least I got a first in that essay
    Thinking critically since 1996....
    • BBH123
    • By BBH123 11th Feb 19, 10:58 AM
    • 886 Posts
    • 1,822 Thanks
    BBH123
    My 20 yrs self would be saying or better still SHOUTING have no interest in owning horses. Whilst they have given me great joy / heartache and a range of emotions in between the financial outlay over the years has been phenomenal.
    Save 6k in 2019 challenge #44
    1017/ 6000
    • londoninvestor
    • By londoninvestor 11th Feb 19, 9:30 PM
    • 699 Posts
    • 595 Thanks
    londoninvestor
    My 20 yrs self would be saying or better still SHOUTING have no interest in owning horses. Whilst they have given me great joy / heartache and a range of emotions in between the financial outlay over the years has been phenomenal.
    Originally posted by BBH123
    Hang on, shouldn't this be on the "Debate Horse Prices" board?
    • Thrugelmir
    • By Thrugelmir 11th Feb 19, 10:00 PM
    • 62,019 Posts
    • 55,220 Thanks
    Thrugelmir
    But if you listen to older and more experienced people, you can hopefully learn from the mistakes of others.
    Originally posted by David_Evans
    Investing can never be mistake free. Too many events are beyond ones own control.

    My late father always said buy the bookmaker rather than bet at them. Secondly invest in a company on the ground floor. Never wait for the lift to start climbing.
    "You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets." - Peter Lynch
    • Malthusian
    • By Malthusian 12th Feb 19, 9:38 AM
    • 5,259 Posts
    • 8,690 Thanks
    Malthusian
    David Evans I wouldn't call having a holiday once a year, going to a concert or two or football match or having a few nights out extravagant.
    Originally posted by Retireby40
    An ascetic Buddhist hermit would call David Evans' lifestyle extravagant. It's all relative.
    • Betuaintgotthis
    • By Betuaintgotthis 12th Feb 19, 11:23 AM
    • 1 Posts
    • 0 Thanks
    Betuaintgotthis
    Knowing what I know now.... Put my savings on England to beat Germany during the 2001 world cup qualifier and treat myself to a nice holiday and then chill for a few years keeping eye out for something called bitcoin where I have to invest 100. Have my divorce and reassure myself that'll all will be ok and then sell the bitcoins December 2017. Reckon that'll do me just fine
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