Longer hours, shorter life

Nobody gets out alive so don't spend your life at work and don't spend your free time arguing with strangers on the internet.
 
Yeah some seem to forget that this is just a page in the internet don't they, a place to escape and have a laugh.
If you have to make yourself feel bigger/better....faster stronger on a forum then who really has the problem?
 
NotAGolf said:
Oh I'm not doubting the value of compound interest. I'm trying to put away a decent amount each month for this reason.

It's just any pension statement I've ever seen with the 'estimated fund size at retirement' is based on growth figures of 1/2.5/4% low/med/high growth (or thereabouts) nowhere near 10%
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They did back in the pension mis-selling days, when people were persuaded to transfer out of excellent defined benefit pension schemes by the promise of fanciful rates of return on moving their transfer value into a much more risky investment product.

Such projections should always be taken with a massive pinch of salt. I remember a guy on the radio a while back advising people that rather than buy a National Lottery ticket each week they should just put the money in a savings account and that after 40 years of compound interest they would be a millionaire. Although the advice was doubtless well meant (things like the lottery should only be considered a frivolity and not a main investment vehicle!) I tried to work out the numbers, which seemed to require quite ridiculous assumptions e.g. investing £40 per week for 40 years with 10% compound interest for the whole time. If you bring the interest rate down to something even slightly more credible such as 5% (rates have seldom gone above this for the last 20 years) then the weekly contributions shoot up to something like £150 - not exactly comparable to the price of a lottery ticket. And these days you would be lucky to get anywhere near 5% from a bank account, which is after all what he was talking about.
 
Mr Badger said:
They did back in the pension mis-selling days, when people were persuaded to transfer out of excellent defined benefit pension schemes by the promise of fanciful rates of return on moving their transfer value into a much more risky investment product.

Such projections should always be taken with a massive pinch of salt. I remember a guy on the radio a while back advising people that rather than buy a National Lottery ticket each week they should just put the money in a savings account and that after 40 years of compound interest they would be a millionaire. Although the advice was doubtless well meant (things like the lottery should only be considered a frivolity and not a main investment vehicle!) I tried to work out the numbers, which seemed to require quite ridiculous assumptions e.g. investing £40 per week for 40 years with 10% compound interest for the whole time. If you bring the interest rate down to something even slightly more credible such as 5% (rates have seldom gone above this for the last 20 years) then the weekly contributions shoot up to something like £150 - not exactly comparable to the price of a lottery ticket. And these days you would be lucky to get anywhere near 5% from a bank account, which is after all what he was talking about.
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I think you are confusing high street lenders with stocks and shares investing. The average stock market return for 10 years is 9.2% and the S&P 500 out performed this at 13.6%. Past performance doesn't indicate future performance... this isn't investing advise and all that.
 
back in the day my mum used to have this man come round every month...looking for £20 for some sort of investment thing for a period of 10 years (maybe more) only to make a profit of maybe £200 at the end of it...I was confused as why bother?
When I left school and got a job he was hassling me to sign up and do the same, I just told him no several times as why?
 
dLockers said:
I think you are confusing high street lenders with stocks and shares investing. The average stock market return for 10 years is 9.2% and the S&P 500 out performed this at 13.6%. Past performance doesn't indicate future performance... this isn't investing advise and all that.
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I think you are confusing what you think with what my post actually said. :D

The guy on the radio didn't mention investing your weekly lottery ticket money in stocks and shares - he specifically said put it in a savings account and after 40 years compound interest will make you a millionaire.
 
Uther said:
80 or so will do me, I'd consider myself lucky to get there, but I don't intend to linger.
Reading in the news today about a couple of radio / tv presenters, one died at 42, another at 65 after short illnesses.
One of the reasons I never intended to spend every waking hour at work, time is much more important.
I've known a few people die just as they were getting to retirement age after spending 50 years working. Nope, not for me thank you.
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Guy who worked in my office, last year died of cancer (or covid) 3 months away from retirement. All those years working and they never got to enjoy retirement. What a waste.
 
Reality|Bites said:
back in the day my mum used to have this man come round every month...looking for £20 for some sort of investment thing for a period of 10 years (maybe more) only to make a profit of maybe £200 at the end of it...I was confused as why bother?
When I left school and got a job he was hassling me to sign up and do the same, I just told him no several times as why?
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I can't vouch for what you're saying, but you won't miss £20 and 10 years will go by no matter what. May as well make £200 along the way.

Mr Badger said:
I think you are confusing what you think with what my post actually said. :D

The guy on the radio didn't mention investing your weekly lottery ticket money in stocks and shares - he specifically said put it in a savings account and after 40 years compound interest will make you a millionaire.
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Well if they said savings account specifically then I'm totally with you. I somewhat doubt it though as I haven't seen a savings account that would hit anything close to that (to even be an innocent mistake); most above 2% have really low pay-in limitations. S&S ISA though, for sure.
 
dLockers said:
Well if they said savings account specifically then I'm totally with you. I somewhat doubt it though as I haven't seen a savings account that would hit anything close to that (to even be an innocent mistake); most above 2% have really low pay-in limitations. S&S ISA though, for sure.
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Yes, that was my point. It was probably well intentioned advice for those with limited funds that it would be better in the long term for them to save the money rather than gamble it on lottery tickets in the hope of getting rich, but the example itself was a bit ridiculous. If he had talked about investing £150 a month in stocks and shares for 40 years than it might have been more credible. Anyway, I think we've exhausted this now as my post was more of a general response about overly optimistic projections of return being used.
 

I'm not one for motivational video type things but this one does illustrate quite nicely how short a time we all have really, particularly once we reach retirement age.
 
Lysander said:
Hit home, did it.
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Just a load of captain obvious.

I guess the world is full of people who never actually think about the bigger picture.

I should put a comment about how many nine and a half minutes you get in life, and how that one lot I'll regret.

....but I guess taking the time to write that is quite hypocritical.
 
Uther said:
Three days is where it's at, I work Mon / Wed / Sat 4am-11am and done. Suits me and covers my living expenses.
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Well I've done the asking myself today to go to a 3 day week, not quite now but if all goes well sometime this summer, nice to get the ball rolling
 
yes always preferred to get all my work done then have a long weekend ,done that since 2007 but fell into this standard 5 day shift (was 4.5) but Saturday is the only day when your not working the next day workday ,evenings just feel tired after work so its a rubbish work life balance for me ,cant wait to do 3 days again
 
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