Longer hours, shorter life

I don't have a problem with that as long as it is respected when you are outside of work time (sadly in some companies won't be) - I'm in 4-5 work groups and just have notifications on silent, etc. and dip in and out if I have a spare moment, etc. occasionally it is used to request cover but aside from that no expectation of a reply. Personally I prefer it as it keeps people on the same page and communicating in a way that tends to breakdown normally in too many businesses.
 
Kreeeee said:
Unfortunately I blame the poor financial education in the UK for that.

Investing just £200 a month (starting from nothing) from 18 to 55 in the world stock market (Vanguard VT ETF) would see you having over £950,000 at 55. This only works if you start early and are consistent though, as starting 1 year later at 19 drops that value by £100,000!
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How did you work that out? That fund is returning on average 6% per year.
 
Kreeeee said:
Unfortunately I blame the poor financial education in the UK for that.

Investing just £200 a month (starting from nothing) from 18 to 55 in the world stock market (Vanguard VT ETF) would see you having over £950,000 at 55. This only works if you start early and are consistent though, as starting 1 year later at 19 drops that value by £100,000!
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There was a study done a while back that showed the average pension pot of a 55 year old in the UK was around 61k IIRC. Madness. A lot of people don't even seem to think about it until it is far too late.
 
I value work/life balance too much. I do my contracted hours and sometimes a bit extra but very rarely over 40/week. I can't see my self doing more. I work to have a better life not work to live.
 
Kreeeee said:
It’s a real shame that so many suffer in retirement because their parents weren’t financially literate. Finances and compounding should be taught during compulsory education so people can start compounding as young as possible.

It’s just another way that the poor stay poor and the rich keep getting richer.
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Its not something you can teach, the problem is psychological.

The main issue is the person who says, i work to live, not live to work. You can do it all, play more and work more. Proper time management is key.

Most people just work 40 hours and do nothing of any value, while spending money on things that dont give any real value.
 
Kreeeee said:
I plan to retire at 55 and currently work 24 hours a week. I’d much rather delay retirement than waste the best years of my working for someone else, and I think this gives a good balance of living now and retiring early.
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Different circumstances maybe. It's what works best for you.


However, if i worked 24 hours a week; i would be working until i am 65+ or be able to afford my current lifestyle. I am happy to put in the graft now, have a good life (albeit hectic) and enjoy down time later in life with no money worries.
 
Working in advertising, especially for the big agencies, you can rack up 80-90 hour weeks if you're not careful, if there was a pitch on you'd be expected to work through the night and still do the next day, generally unpaid and thanklessly. Since I moved "in-house" the pace is much better and the hours are rarely more than the 37.5 I'm paid for. Working from home during the pandemic has enabled me to achieve the diamond rocket launchers in Cold War which has been a bonus.
 
Ayahuasca said:
I've not worked above 55 hours a week (in the US, anything under is considered part-time :D)
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I don't get the joke? It's a fact that in the US 35-40 hours is widely considered "full time", beyond that = working 2-3 part-time jobs or working overtime at a single job.

I work 30-ish over here, on (very) roughly 80K USD.
 
I guess it depends on salary vs hours, I'm on around 36k and do 37.5 hours, my boss is a director on 100k and probably puts in 45-50 hours. Some people on a similar wage to me do 40-45 hours but I don't see the point, you're just devaluing yourself. I'm aiming for retirement at 55 (20 years to go), I'm hammering my pension and reckon my pot will be 450k so should be reasonable, unless we have any more corona years. My current pot is worth 650k and I'm putting in 16% ir my salary with the company putting in another 1%. I'm factoring in a 2% payrise each year and the pot increasing by 2% (in addition to my contributions). I'm going to go upto 20% eventually.
 
Kreeeee said:
Unfortunately I blame the poor financial education in the UK for that.

Investing just £200 a month (starting from nothing) from 18 to 55 in the world stock market (Rounded to 10%) would see you having over £950,000 at 55. This only works if you start early and are consistent though, as starting 1 year later at 19 drops that value by £100,000!
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At the age of 18 that was my months wages, I considered a pension at around the age of 30 but decided it was too much, and put it in to bricks and mortar. I did opt out of SERPS so did have a small private pension from that, and some inherited funds, piled it altogether last year and started throwing money at my pension, also get the tax rebate on it. Hoping to be able to retire at sixty which is only seven years away, which is going to take some investing and luck.
 
Kreeeee said:
Unfortunately I blame the poor financial education in the UK for that.

Investing just £200 a month (starting from nothing) from 18 to 55 in the world stock market (Rounded to 10%) would see you having over £950,000 at 55. This only works if you start early and are consistent though, as starting 1 year later at 19 drops that value by £100,000!
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The problem with this is the reality of the situation for most people. For most, 18-21 is university. Those who are wise and able to would return to their parents, secure a job and save heavily for 3-5 years for a house deposit. The next 2 years are spent on furnishing and refreshing the house. The foolish will spend savings on an expensive wedding, then kids and the need for a bigger house come into the equation. All the while, the later you leave it the more of your salary needs to be saved to catch up again. The opportunity to retire early is a luxury that not many will be fortunate to be able to pursue and oddly many who could, chose not to.
 
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