If you could go back in time...

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  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
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    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
    Zero_Sum Posts: 1,567 Forumite
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    Retireby40 wrote: »
    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.

    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
    David_Evans Posts: 248 Forumite
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    Zero_Sum wrote: »
    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?

    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
    Alexland Posts: 9,653 Forumite
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    Zero_Sum wrote: »
    If you live like a hermit you'll end up being loaded but you cant take it with you so whats the point?

    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
    dont_use_vistaprint Posts: 601 Forumite
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    edited 10 February 2019 at 9:12AM
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    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... :-)
    "It is not the critic who counts..." - Theodore Roosevelt
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
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    Alexland wrote: »
    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

    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
    David_Evans Posts: 248 Forumite
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    Zero_Sum wrote: »
    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.

    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
    Domayne Posts: 623 Forumite
    Debt-free and Proud!
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    Nothing, 20 year old me wouldn't have listened anyway
    Saved so far - £28,890.97
    ~Selfish is the name that the jealous give to the free~
    Save 12k in 2019 #18 £5,489.43/12000
  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
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    David_Evans wrote: »
    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.

    I also brew my own
  • lpgm
    lpgm Posts: 355 Forumite
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    Vet wrote: »
    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)!

    Well, that global fund seems to be 64% US and 10% UK already, so I'd probably rejig things.
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