The Optimal Age To Save for Retirement
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Күн бұрынDo you wish you had discovered investing sooner and started saving for retirement earlier? In today's video, I want to show you a different way to think about it.
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Timestamps
00:00 - Too Late
00:56 - Pollock
01:43 - Linear approach
03:22 - Another way
04:05 - Sponsor
04:47 - Higher Earnings
06:25 - Kids
07:35 - Student Loan
08:10 - Stop
09:54 - Average Savings
11:45 - You don't stop
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@DamienTalksMoney 14 күн бұрын
Subscribe to The Daily Upside for completely free using this link: bit.ly/44iynb7 love it, but if you don’t, you can always unsubscribe.
@cspeirs1 14 күн бұрын
Brilliant! Loved this, thanks Damien
@cleric7788 14 күн бұрын
Off topic but what t shirt are you wearing?
@DamienTalksMoney 14 күн бұрын
@@cleric7788 it is just a t shirt from Zara
@kurtismunden7023 13 күн бұрын
@@DamienTalksMoneywhat’s your opinion on cash value life insurance for long term use and potentially long term wealth ?
@incurza9647 12 күн бұрын
Hi Damien, I'm interested in your cheat sheet and the spreadsheet from this video but the link in your previous video appears to have broken?
@jack_walt 14 күн бұрын
My parents told me to start contributing when I became an apprentice at 18 years old. It might’ve been the single best piece of advice I was ever given and I’ll be forever grateful
@connorwilloughby1696 14 күн бұрын
Mine was from a senior colleague, he suggested I over contribute a few percent at 17. Now at 25 I'm incredibly grateful.
@jack_walt 14 күн бұрын
@@connorwilloughby1696 that’s awesome. I’m 23 now and even just those first 5 years of contributing has given me pot size more than double the average 25-34 age group in this video. Wish you all the best for the future
@jack_walt 14 күн бұрын
@@connorwilloughby1696 that’s awesome. I’m 23 now and even just 5 years of contributing has given me a pot size more than double the average 25-34 age group in this video. Wish you all the best for the future!
@anonb0 14 күн бұрын
Also started as an apprentice at 17
@DamienTalksMoney 14 күн бұрын
Well done for listening!!
@mattferdinando 14 күн бұрын
I don’t say this lightly as you’ve done some brilliant videos, but this is the best you’ve ever done. The narrative arc, the entertainment value and pollock jokes, and the underlying financial message all brilliant.
@DamienTalksMoney 14 күн бұрын
Thank you so much! I’m just glad my ramblings about artists made sense 😂
@jessperry1703 14 күн бұрын
@@DamienTalksMoney it was all worth it for your final sentence
@joshuakentolp7152 13 күн бұрын
@@DamienTalksMoney wholeheartedly agree with the above comment, really well researched, structured and entertaining video
@MM-ev1fg 10 күн бұрын
Agreed. I’ve shared this with many people.
@leightonharrison2328 14 күн бұрын
51yo, 10k in work pension, just opened a sipp. Never to late, the saying' best time to plant a tree was 30 years ago, the next best time is now!' Thanks to you, and a couple others on you tube, my financial understanding has become, over the past couple of years, more than I've ever had!
@DamienTalksMoney 14 күн бұрын
Lovely positive attitude and you have loads of time to get a really decent pot together!
@TheNicoliyah 14 күн бұрын
I’m in a similar position have had my SIPP for a few years (not a lot in it lol) have just opened my first stocks & shares ISA so that I can use it for dividend investing
@padanfain7466 14 күн бұрын
I love this guy! Always makes you feel better about life. I had nothing and no hope at 34, at 44 I've started a business, got. House and paid off the house, and saved a decent amount. 10 years can make a huge difference.
@DamienTalksMoney 14 күн бұрын
Love this! Just shows that a decade is so much time if you put your mind to it
@orangesnowflake3769 14 күн бұрын
Thanks for posting this
@user-xn2tz2dz8c 13 күн бұрын
I agree.
@Rayraysplums 13 күн бұрын
Luck must have been on your side well done.
@padanfain7466 13 күн бұрын
@@Rayraysplums What I can tell you with confidence, is that luck had nothing to do with it. I had a mental breakdown due to addiction and work stress, and had to make some serious changes to my life. I started a business at home due to the severe anxiety that came with it. Lucky me!
@jameswood4183 14 күн бұрын
This has to be one of the best financial KZfaq channels around !
@DamienTalksMoney 14 күн бұрын
Thank you James 😊
@paulgal 13 күн бұрын
No it is the best by far .
@christines5430 13 күн бұрын
I second that❤
@barnoluk9272 13 күн бұрын
Comfortably
@mrtod13 14 күн бұрын
As a soon to be 55 year old, this was a very welcome shot of positivity. Thanks Damien 😁
@helensavvides6582 14 күн бұрын
My thoughts exactly. My father worked until 81 because he loved his work. I think we need to change the narrative on retirement and work. If you can work and you enjoy it, why shouldn't you ? Most people cannot swan off into the sunset, cruising and expensive holidays but instead can find other joys in life. We all want to feel safe and secure and managing your money does that. Giving (in any form) adds to a feeling of security because this signifies abundance. Either of time or money. There are so many ways to feel more secure instead of fear driven. Thank you for this video. It raises so much on how perception is vital.
@liberalmatt 14 күн бұрын
Never too late. 51 here and making a start - if anything just to mitigate the lost opportunities so far. If I had known the real value of compounding (for example) 30 years back, life would be so much different. Yet more reasons to include basic financial literacy (how to understand projections, yield calculations, gilts/bonds/ETF etc. and how to compare options) in school curricula.
@shellyperera2010 13 күн бұрын
Completely agree. It's a scandal that this is not taught in schools. Access to free/affordable pension and investment advice should also be available when people first start work. We had a pension talk at work and it was obvious that the vast majority of people had very little knowledge about the subject. Most were in the default fund which had lost money this past year when global stocks have seen excellent returns. They didn't know you could switch out and the platform has an excellent range of cheap global trackers. We have a pensions time bomb coming down the road now DB is no longer. How people are going to manage their pots in retirement I have no idea if they don't know about appropriate asset allocation, sequence of returns risk etc. etc.
@stickleback73 13 күн бұрын
100% agree!! Also 51 and sad this stuff wasn't taught to me and my parents didn't provide basic advice either. I have been educating my youngsters and when they start their first jobs I'll get them to sit with a financial advisor and encourage this throughout their working lives. Great channel and content!
@BIG2hats 4 күн бұрын
They don’t want it to be taught at schools, the economy is built on spenders, not savers! In fact, the UK had one of the lowest rates of citizens investing in the developed world. We have failed.
@mircea_h 3 күн бұрын
i dont think it was always as easy as today to invest also maybe there were better economic times so people would not feel pressured to invest also if you bought your house that's also an investment its not all black and white
@TheEmanep 13 күн бұрын
Thank you - at 53 I’ve been freaking out about retirement, but Grandma Moses has given those of us above the age of 30 hope!
@jamesodd3896 14 күн бұрын
I like that you don’t follow the crowd . Your content is honest & nothing like I’ve seen elsewhere.
@hmcvm 14 күн бұрын
I don’t think there’s any other channel out here combining informed, realistic and honest financial advice with entertainment so well. Such a great video mate!
@DamienTalksMoney 14 күн бұрын
Thank you so much, love this feedback
@Riaan3108 14 күн бұрын
Mood-hoover, you learn new things on this channel every time….
@DamienTalksMoney 14 күн бұрын
🤣
@1anre 12 күн бұрын
Is that the nickname for those rubbish blogs?
@prof.stacythemoneyteacher 14 күн бұрын
You're never too old to start saving for retirement. It's best to start early, but starting ever is better than never.
@baronvonhoughton 14 күн бұрын
Thanks mate, needed this one. 40's and constantly feeling I started too late.
@ceciliabrown3301 14 күн бұрын
Thank you. Your posts give me hope as I started late.
@annabeljewel 13 күн бұрын
Thank you for this. This is just what I needed and I've saved it to watch again for those times when I'm panicking about the future.
@lifesacardgame6454 14 күн бұрын
Thank you for your positivity on this subject.
@H.I.T.E.N. 14 күн бұрын
"We all make mistakes, have struggles, and even regret things in our past. But you are not your mistakes, you are not your struggles, and you are here NOW with the power to shape your day and your future." - Steve Maraboli Thanks to you pal, we're all here taking back our power and making meaningful changes for a better future. Better late than never, hey! Appreciate you mate.
@DamienTalksMoney 14 күн бұрын
Appreciate you to mate.
@Trifusion1 14 күн бұрын
Really appreciate the quality of the graphs in this video. Super clear and visually appealing too.
@oldnotobsolete.2925 14 күн бұрын
Top Class video! Will be sharing the link at work as it's a message that needs to get as wide an audience as possible!
@SS-vz9iv 14 күн бұрын
People really needed this Damien! Thank you 😊
@melalblas 11 күн бұрын
Another wonderful video and especially lovely as us older bods (I’m 47) defo don’t love being told we should have started earlier so this is gold thank you Damien! ❤
@philistineau 14 күн бұрын
This is brilliant. Absolutely brilliant. I live in the financial world, reading about this stuff, and I have never seen this article before. Thank you for sharing this!
@amandacornwill9370 14 күн бұрын
This is largely what I have done simply due to life and kids. I paid into pensions in my 20s and not again seriously until my mid 40s. Now 2 months away from 55 with enough to retire if I wanted to. Great points made 👍🏻
@lisaclayton517 14 күн бұрын
Thanks for this Damien, at 50 and just getting a grip of this money lark I was panicking. But you’re right, there is no end date 🙌 thank you x
@discodiscodiscoking 14 күн бұрын
This is a brilliant video. Thank you Damian for not just feeding the negative outlook and being positive about outcomes. I love that you back up what you say with data and real world examples rather than assumptions. Keep it up mate, lots of people are thankful for what you do and you should be proud of the changes you inspire in people. Just think, decades in the future, some people will be physically benefiting from some of the changes introduced to them by yourself. I’m proud of you, and I don’t even know you.
@handlethehandle7 13 күн бұрын
So good to learn about Grandma Moses. Your presentations are always so interesting. Coolio editing too. One exceptional human being who is beautifully humble with it. Well done D n co.
@hazeldavis3176 13 күн бұрын
Can't thank you enough for this video. Really gave me hope back 🌺
@toriebrame3419 13 күн бұрын
This is my favorite finance channel. Thank you for this video!
@pt2913 14 күн бұрын
Brilliant video Damien. Extremely thorough and VERY reassuring. Thank you.
@tommasoparrinello6236 14 күн бұрын
Congratulations for this video. One of the best!
@Caution1990 14 күн бұрын
This is brilliant Damien! As someone with 2 young kids, and “behind” on my retirement savings for my age, this video makes me feel what many other pension videos don’t. A bit better about myself. Like I’m not alone, and have the ability to catch up. Thanks!
@hotelhero4193 13 күн бұрын
Lovely video as always, thank you. Great way to look at alternative options
@collettewilliams642 9 күн бұрын
Just brilliant, came away feeling really energised and positive and I’ve learnt loads! Besides your knowledge, I think the hope and positivity you spread are two of the most important things you can inspire in someone 😊
@JHA854 13 күн бұрын
Damien, you always make me feel like I am not doing so badly with my finances. Thank you so much!
@user-wl7jy9wu9m 14 күн бұрын
Refreshing positive video message enjoyed this Damien. 53 yr old guy. Late starter keep going.. Great job
@Mabidakun 14 күн бұрын
Damo, you continue to make me smile. You are by far the best (and most entertaining!) finance KZfaqr. Thanks for giving an old head like me, hope! 💯
@lawrencehooper4341 13 күн бұрын
Damien, your content is top-notch. Thank you
@oliverdownes3184 14 күн бұрын
Love “mood hoovers” sentence 😀👍great blog thank you very enlightening and positive spin !….. I’m getting my old painting by numbers box out….. just in case 🤗😉👍
@shawfair4591 14 күн бұрын
Great video again mate 👌🏽 thank you
@garysanders8090 14 күн бұрын
"mood hoover" fantastic description
@The_Recusant_Vagabond 14 күн бұрын
Thank you so much for this video! Very up lifting !
@shellyperera2010 13 күн бұрын
Brilliant brilliant video! One of your best. We have followed virtually the exact trajectory. Not much saving up to age 50ish but now kids are older, I've gone back to work after looking after the kids, partner is at peak earnings due to experience, we are putting massive amounts into our pensions and will be on track to retire at around age 59/60. And that's from corporate jobs. We fully intend to keep earning in retirement as there's no way we could sit around doing not very much. It's a good idea to develop diverse skills and hobbies outside of your day to day work skills as these can often turn into side hustles or full time businesses in retirement.
@legendarypandagaming1785 9 күн бұрын
Great insights again Damo! Much appreciated - Manchester based viewer 👍
@DTL0VER 13 күн бұрын
Cracking video mate. Well done 👏🏼
@k.avilla8061 14 күн бұрын
Very inspiring and informative presentation, Damien. God bless you.
@shelle.angelo 7 күн бұрын
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
@spacecadet6 7 күн бұрын
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
@emmaarmando 7 күн бұрын
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@noah-greene 7 күн бұрын
@@emmaarmandoMind if I ask you to recommend this particular coach you using their service?
@emmaarmando 7 күн бұрын
*Gertrude Margaret Quinto* maintains an online presence. Just make a simple search for her name online.
@ohioveteran 7 күн бұрын
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
@method2madness961 14 күн бұрын
Great video, very helpful to have advice that adds a lot of context and nuance that is often missed. Adding this nuance stops this from being a video that is good to know but doesn't feel personally applicable.
@Brown969 14 күн бұрын
41 and really helpful. Thanks Damo. I found when I went self employed I made no savings contributions for 5 years. When the business finally got established, it was much easier (and tax efficient) to divert wages into pension. I was contributing to a workplace pension from 29 and immediately changed my fund choices after doing my own homework. That helped me get a good start. What about retirement plans that are outside pensions? Downsizing Property? Business Income? Etc?
@MWR1990 13 күн бұрын
Mate your videos are just getting better and better. No idea how you’re doing it as they were bloody brilliant before. Great alternative view on how saving for retirement doesn’t have to be a straight line. At 33 I’m keeping my contribution locked in until I can’t afford it. My last 2 pay rises have gone straight into increased contributions, as have my bonuses, to avoid lifestyle creep. Plus the “free childcare” gets removed if I don’t. I’m planning an increase to my savings rate when my little one grows up, knowing that’s ok is a relief. Thanks again Damo.
@DanRobards 14 күн бұрын
These graphics are getting super fancy! Good shit Damo!
@suzannerogers-pt1xx 3 күн бұрын
Thank you. This video has reassured me so much 😊
@phooogle 12 күн бұрын
Great video, shared with my mate who is panicking about his pension (he is 39).
@hbbstn 13 күн бұрын
Thanks for making this video! I spent my savings in getting higher education in my 20s and 30s. I'm in my mid-40s and started saving more seriously in recent years.
@TheLeeBoyman 14 күн бұрын
Excellent work Damien 👏
@luQi457 4 күн бұрын
Loved this video. At 27, I sometimes feel as though I'm lagging behind in my financial journey comparatively. but thanks to you, found a new hope.
@SomeoneSmarter 14 күн бұрын
Damien, this is one of your most interesting videos to date. I've only recently gotten into investing at 45 and I've had those thoughts about wishing I had started earlier. However, I had no spare cash when I was in my 20s! First house, needed a car, got married, etc. I did start increasing my pension contributions on my late 30s and now I chunk 30+% of my wage into my pension, mainly to avoid child benefit clawback. The savings curve you presented here gives me hope that I am on track!
@davejones6891 14 күн бұрын
😮reassuring video Damo, Thanks!
@davidharding3465 13 күн бұрын
I just love your content Damien! Especially when you use technical terms like mood hoovers. I am 47 and just started tucking away some money in the markets.
@cannontrodder 14 күн бұрын
You are a mood hoover that has been thrown into reverse! Brilliant video!!
@hummels8393 14 күн бұрын
this is an incredible video! thank you
@pacifica9718 14 күн бұрын
Thank you! I was guilty of the ostrich view of pensions until my fifties but I will have the mortgage paid this year and can now throw almost the entirety of my income at it. Your video has given me hope that it really is never too late.
@MrKlawUK 14 күн бұрын
this is eye opening and at least a little reassuring. 53 now, planning to finish mortgage at 55, then push 35% gross income into pension for as long as possible
@KiHToG 13 күн бұрын
Having a mortgage free home probably means you are far ahead of the average 55yo in terms of net worth.
@horacebury 13 күн бұрын
Thank you so much 😅 Other than a pension, investing was such a late thing. You’ve really let the pressure off. Time to get to work. 💪
@user-cz2pi7fm5e 13 күн бұрын
Thanks for your positive thoughts
@Paranoidandro1d1 13 күн бұрын
Excellent video again. Thank you!
@ttrjw 13 күн бұрын
This is your best video so far. Good clear content - loved the graphics. The humour also works too!
@DamienTalksMoney 13 күн бұрын
You have been watching for a long while! So i love hearing what you think of video really pleased you enjoyed this one.
@MartinS-tj9it 14 күн бұрын
FANTASTIC video :) thanks for your efforts in showing me and others that the world of finance, savings, shares ect is not that complicated as I thought (for sure muuuch easier than my day job :D [less math, physics, engineering, ect] )
@robm509 13 күн бұрын
Thanks for this. I'm 51 years old. I was self-employed for 19 years but wasn't earning enough to make regular contributions to my private pension, and I got into severe difficulty with a property investment that went bad. Now that I am back in full-time employment and my mortgage is finally paid off, I began paying regular and voluntary contributions (about 30% of my annual income) to my pension again. It's amazing how quickly the funds have built up in such a short space of time. All is looking rosy again!
@kensingh963 9 күн бұрын
Brilliant, informative video. Thanks.
@adamwestrip7422 13 күн бұрын
Damo. After finding your videos on KZfaq and Podcasts earlier this year and following your guidance, my future life has changed for the better. At 46 I had little in the way of savings and no real pension plan. I am now saving a big chuck of my wages into a SIPP and an ISA every month and have a healthy emergency fund. Thanks for the brilliant videos and great Podcast
@Therealmattchong 14 күн бұрын
Needed this thank you
@tinanolan1485 13 күн бұрын
Really great content - well done.
@rusl12 14 күн бұрын
This is a really nice vid, thanks Damian. One thing I’d add though is the importance of health. Whether you have to or want to work after 65, you need to be ABLE TO. This isn’t true for some people and it’s awful. Even if you do retire, you want to be heathy enough to look after the grandkids and all the other good stuff
@glennsheppard3320 9 күн бұрын
Thanks Damien, useful advice as always, I started saving when I was 21, but looking at the pension pot now has made me feel both a failure and under prepared for any kind of retirement, releived that I appear to be around the average for my age (50). I have recently been saving more and more to the pension pot putting pay rises and the odd bonus into it but like you have said, I plan to work in some capacity well into my later years. I think a sense of purpose and the social aspects of work, even if you don't always appreciate them at the time, are vastly underestimated.
@Kaizen917 14 күн бұрын
I sometimes get the feel that when people say they should have saved more, its not out of some frugality lesson learned but out of some sense of regret what they spent the past money on (be it cigs, alcohol or flashy stuff that didnt scratch the itch). It might seem like a small detail but the crucial difference is that, if they are to have more money, they are in risk of spending that on the same. But the video is a good reminder that regardless of it all, everyone needs to just dust themselves off and think of it as a better later than never situation.
@StevenJones-et6vn 14 күн бұрын
Absolutely brilliant,👊✌️
@Ligitizzy 14 күн бұрын
I love this, Damien. You’re fantastic. I worry daily about the amount of money I’m saving for future but also that I need to live now as I have a daughter. It’s an incredibly difficult balance to reach, but you really do put things into prospective and make things feel a bit less doom and gloom ☺️
@DamienTalksMoney 14 күн бұрын
If it helps I worry about the exact same thing you do. The balance is hard to strike but the fact you are considering it shows you are heading in the right direction
@mikejames4540 9 күн бұрын
A really uplifting piece, Damien, for those in all age groups! And with some lovely touches. Certainly not a load of Pollocks!
@philippeantonietti 12 күн бұрын
Perfect video I was thinking exactly about this last week when I decided the percentage sacrifice for a patient which is 6% at the moment I'm 34
@myriamdhaiti2935 13 күн бұрын
I absolutely love this ❤
@lauraward-newton4510 13 күн бұрын
I have never felt compelled to comment on any video on KZfaq until I’ve come across yours. Thank you so much for this. I’ve spent 10 years in the public sector and hoping to switch by the end of the year - my total pension pot contributions from myself and employer alone is somewhere between 130-140k at the moment. I’m in my mid 30s and I was worried I’d just wasted this entire time now I won’t get to see it until SPA if I leave - so watching this has given me a huge relief. Now I just need to figure out the best way to save privately as it’s always been done for me (I’ve been paying 14% the last few years..).
@rocksy71 13 күн бұрын
Sometimes it’s nice to find a voice and put yourself out there to encourage others, I think 130k/140k in just 10 years is remarkable and not a figure to be sniffed at as far as moving forward and sorting out your own finances in the future. Like Damian, I found Vanguard ETFs to be cost-effective with low administration costs in comparison to the rest of the market and very easy from my phone to make changes to my portfolio, You may wish to look at Vanguard as a potential for your future investing, I think Damian uses the all world ETF
@MarcellJohnsonIII 13 күн бұрын
Fantastic video, I don’t usually comment but felt compelled to. Good work.
@Goldman_Bernstein 13 күн бұрын
Thank you! As a 50+ year old man, who just bought a 2003 Honda Civic (Dave Ramsey forced me to buy this), I can relate well to your video! 😅
@realollyrichards 13 күн бұрын
Such an important video - great job
@teamfusion7218 13 күн бұрын
Great Video again, I actually stop what I am doing to watch your videos. I watched your last video about work based pension, qualifying earnings or whole salary. Taking a pay increase is too tempting to spend so rather than take a pay increase, I asked my boss if they would match my contribution that is paid directly into my naff NEST pension (That will be getting changed soon thanks to Damien) and they agreed, so the amount I pay into my pension is whopping, so I feel more confident now about my pension....oh and I am 52 and while I felt I was late to the pension party, i'm not doing to bad. (And I started my 212 account and shifted cash there just for the increased interest rate).
@matthewbaldwin5579 14 күн бұрын
Man this video needed to happen 🎉
@chrisballUKtoNZ 13 күн бұрын
love it. i just turned 36 2 weeks ago. doing 50-60% savings rate for the past 2 years. no kids as yet, travelled 45 countries so taking advantage of these years to stash away as much as i can in the hope that when i come into my 40s i have a wad put aside and cant relax off the savings if kids come along etc.
@juleskayak 13 күн бұрын
Excellent video, very helpful for anyone
@duttontube 13 күн бұрын
Brilliant video Damien! I’m turning 50 this year and didn’t save a huge amount earlier in my life, and wish I had. But now I’m saving as much in 3 months as I earned annually when I graduated. The numbers in later life really do add up. Good luck to younger investors who can start compounding in your 20s!!
@leeblakemore2762 11 күн бұрын
Thanks Damien, Turning 54 end of next month with 101k in various pension pots and 38k in Isa with 6.5 years left on my mortgage and I do at times feel I'm waaay behind with pretty much every spare penny I can find going into my ISA as a "just in case my pensions aren't enough and Gov decide to cancel state pension" Fund. At least I know I'm not alone and including my ISA, I'm actually ahead of the Median. Your words have left me relieved and less stressed about problems that haven't even happened yet and may never be a problem. Thank you sir.
@Qlair2632 12 күн бұрын
Great video and creator, I would say let your money work for you (through compounding) rather than frantically trying to fill the gap when you’re older
@darrenjosephgregory 13 күн бұрын
Brilliant video Damo and the study makes sense to me. No financial education really as a youth. Spent far too much money as a young adult down the pub and on being a student. By the time I was in my late 20s earlier 30s I was looking at bankruptcy. Then things got better and spurred on by boredom during the pandemic and a small four figure inheritance I started to invest. Should I have started earlier, of course, but I am now earning more than I did in my youth and trying to squirrel away now while I can.
@b0rg1010 13 күн бұрын
Thank you for you words of facts and encouragement. I'm 51 this year. I've taken risk's in life which most haven't turn out. My pension savings are practically none existent. I'm mortgage free this year. I have some savings and I working towards saving more than I ever could previously. As I've got older, I actually don't panic about my future. I'm a worker and as long as my health allows I will always work and enjoy what I do. It's all about quality of life. I have seen too many friends die and leave all their wealth to others after sacrificing living life in their early years. Such a shame. Live for today, you still have plenty of time.
@henghistbluetooth7882 14 күн бұрын
For me being 51 and beginning with auto-enrolment at 42 isn;t the regret I have. The regret I have is not increasing my contributions and not realising that I could almost double them and see my take home pay only go down by a tiny fraction. Do that for 10 years and it makes a massive difference with little to no daily consequences. For me that makes me upset. But this video is excellent - I’ll probably retire when I’m around 62 but even then I plan to design some training materials on Udemy and maybe start a third career!
@felixjavierarbeloroman 14 күн бұрын
Great video. Hi from Barcelona!!
@shimsteriom4191 14 күн бұрын
Brilliant 👏
@anthand85 12 күн бұрын
My two children have junior sipps, aged 3 and 3 months.. thanks for the advice 💪🏼
@JD-ny9qj 7 күн бұрын
Ahh yes just make the gap wider between the haves and have nots, that’ll help future generations. Why don’t you give that money to orphans coming out of care or something instead. Even up the playing field.
@denisedeakins4828 7 күн бұрын
Hi Damien, I didn't have any sort of pension until i was around 46, a few years later I realised I was behind what others my age were doing which was a bit worrying. This insight gives us older ones all hope to see we still have time to save and achieve! Thanks :)
exlittlebeans
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catching up to FI
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