otto
New Member
Posts: 968
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Post by otto on Jun 15, 2024 20:01:48 GMT
Or rather, don’t wait
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Post by Nitrous on Jun 15, 2024 20:12:14 GMT
37 here with no chance of early retirement and no inclination to become a supervisor doing 12 hour shifts.
I'll stick with my 9-5, 4 on 4 off thank you very much. It's a boring job with little to no stress.
Oldest person I worked with was 74, he called it a day at 75.
Working weekends though has never once bothered me. No traffic and during the week places tend to quieter.
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Tomo
Junior Member
Posts: 3,504
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Post by Tomo on Jun 15, 2024 21:05:59 GMT
I mean I pay into my pension each month. So I'm sorted, right. That's all there is to it, right guys. Right.
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Post by ignatiusjreilly on Jun 15, 2024 21:11:10 GMT
Exactly, the state will look after us
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cubby
Full Member
doesn't get subtext
Posts: 6,378
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Post by cubby on Jun 15, 2024 21:22:37 GMT
That's why I'm voting Labour.
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Post by quadfather on Jun 15, 2024 23:10:33 GMT
38... Talk of pension modelling is foreign and terrifying to me. Urgh. You shouldn't be here yet! It's not your time |
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Lizard
Junior Member
I love ploughmans
Posts: 4,489
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Post by Lizard on Jun 16, 2024 0:08:48 GMT
38... Talk of pension modelling is foreign and terrifying to me. Urgh. Are we talking like Airfix or Onlyfans? Can't tell these days... |
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Post by dfunked on Jun 16, 2024 8:47:50 GMT
No fucking way do I want to still be working in my 60s. I don't even want to work now in my 40s!
I've been paying off our mortgage as quickly as possible and increasing my pension contributions regularly, so hopefully I'll be in a decent position to start pulling my personal pension at 60, or at least do something I want to do instead of still be in the corpo grind... I still thankfully have a decent amount of disposable income after that, so it's not like I'll be living like a Spartan for the next 18 years.
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Post by Bill in the rain on Jun 16, 2024 9:00:53 GMT
I'm ok for savings (ish) but I'm worried about the fact we're still renting, and it's getting harder and harder to get on the property ladder at all.
Plus if we do, it'll either need to be paid off in 20 years, or we'll need to work longer to pay it off.
That and the fact that if AI replaced my job in 3 years I have no idea how we'd pay it off.
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Post by drhickman1983 on Jun 16, 2024 10:05:12 GMT
Problem with growing up in a poor family is that I have no real financial literacy as we've never had enough to invest so it's just a big knowledge gap.
I have no real idea about savings really. I have a LISA which I opened a few years ago, as I didn't even know those existed until a friend mentioned them. Managed to get one just before I became too old for anyone to care about, apparently - and have recently stuck another small amount in a cab ISA.
Same friend was talking about index funds for investment and had no real clue what even means. Sounds like it might be a decent idea of I manage to save more. She's pretty much become my financial advisor
Anyway, back to work after a week off and I'm just feeling anxious and edgy and it's really not a pleasant feeling.
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Post by quadfather on Jun 16, 2024 10:30:08 GMT
What do you do again?
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nazo
Junior Member
Posts: 1,304
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Post by nazo on Jun 16, 2024 11:09:29 GMT
I'm ok for savings (ish) but I'm worried about the fact we're still renting, and it's getting harder and harder to get on the property ladder at all. Plus if we do, it'll either need to be paid off in 20 years, or we'll need to work longer to pay it off. That and the fact that if AI replaced my job in 3 years I have no idea how we'd pay it off. Is the property ladder even a thing in Japan? From what I've heard land is valuable but the properties on it depreciate over time, with a lot of buyers just knocking down whatever is on it and starting again. I don't think there's the same expectation that if you buy somewhere you'll be able to sell it off later at a profit. |
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Post by Bill in the rain on Jun 16, 2024 11:13:28 GMT
Problem with growing up in a poor family is that I have no real financial literacy as we've never had enough to invest so it's just a big knowledge gap. I have no real idea about savings really. I have a LISA which I opened a few years ago, as I didn't even know those existed until a friend mentioned them. Managed to get one just before I became too old for anyone to care about, apparently - and have recently stuck another small amount in a cab ISA. Same friend was talking about index funds for investment and had no real clue what even means. Sounds like it might be a decent idea of I manage to save more. She's pretty much become my financial advisor Anyway, back to work after a week off and I'm just feeling anxious and edgy and it's really not a pleasant feeling. No idea what a LISA is. I had a cash ISA for years, but haven't been able to pay into it for years because of being overseas. The interest rate became pretty shit, but it was a bit trapped.
Currently things are a bit weird as interest rates are sky high, but the thing I should have done was stick it in an Index Fund / ETF inside a stocks & shares ISA, because those paid out massively more over the past decade.
If you can, I'd stick money regularly into a low cost index fund / ETF that tracks either global markets or the US market, and just pay in regularly as much as is reasonable.
As far as I understand it, the thing that's been driving the widening gap between rich and poor is that returns on things like stocks have been way above pay or savings. But trying to invest in specific stocks or funds is actually a lot less effective than just investing in a fund that averages the entire market. Things like Index funds and EFTs tend to be better performing, easier, lower cost and lower risk.
But I'd say the key thing is just to get started, even if it's small. I wasted ages trying to find the best fund etc.., and that's time that could have been earning money. So just pick the most obvious fund that your bank's ISA provides. (UK market is a bit shit iirc, so a global or US one is probably going to perform better).
iirc you can take money out of ISAs if you need to, right? So it's basically just a fancy savings account with an annual limit.
*unless there's another global financial crisis, but even then as long as you can leave it in long-term, it'll probably come out ok.
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nazo
Junior Member
Posts: 1,304
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Post by nazo on Jun 16, 2024 11:15:26 GMT
Same friend was talking about index funds for investment and had no real clue what even means. Sounds like it might be a decent idea of I manage to save more. She's pretty much become my financial advisor Yeah, index funds is what I use they're cheap and the dirty secret of the finance industry is that almost no-one outperforms the market over a long period of time so expensive typically aren't worth it in the long run.
Financial education in this country is really poor but I think there's also a cultural norm that people see it as somehow dirty to think about money. Investing doesn't have to be that hard, if you don't want to think too much about a pension (and who does really) open a Vanguard Target Retirement fund for your retirement age and put some in that every month. Even if it doesn't do amazing you get a 25% top-up from HMRC on anything you put it so things would have to go really wrong not to make money in the long-term and you're over paying on taxes by not taking advantage of it. (Not financial advice, no-one sensible should listen to me)
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Post by Bill in the rain on Jun 16, 2024 11:16:17 GMT
I'm ok for savings (ish) but I'm worried about the fact we're still renting, and it's getting harder and harder to get on the property ladder at all. Plus if we do, it'll either need to be paid off in 20 years, or we'll need to work longer to pay it off. That and the fact that if AI replaced my job in 3 years I have no idea how we'd pay it off. Is the property ladder even a thing in Japan? From what I've heard land is valuable but the properties on it depreciate over time, with a lot of buyers just knocking down whatever is on it and starting again. I don't think there's the same expectation that if you buy somewhere you'll be able to sell it off later at a profit. That was the case, and that's why I didn't buy anywhere over the last decade (that and income).
But property (or land as you say) prices have been going up pretty steadily over the past 5 years or so in Tokyo. (outside tokyo is more of a mixed bag, but not an option).
I'm not sure if it's the economy, or overseas buyers, or a knock on from Covid, but prices (and also rents) have gone up a fair bit.
It is weird though, because most houses and apartments in Japan have a very short lifespan, so in some ways the value is mostly in the land.
Kinda wish I'd bought 5 years ago when prices were lower.
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Post by drhickman1983 on Jun 16, 2024 11:21:58 GMT
A Lifetime ISA (LISA) can only be opened before the age of 40. Each financial year you can only invest 4 grand, but you will get a 25% boost each financial year for any money added.
I'll copy paste the blurb as it explains better.
"You can use a Lifetime ISA (Individual Savings Account) to buy your first home or save for later life. You must be 18 or over but under 40 to open a Lifetime ISA.
You can put in up to £4,000 each year, until you're 50. You must make your first payment into your ISA before you're 40.
The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year."
So effectively it's a guaranteed 25% return on annual investment, plus general interest.
I only found out about this when I was 39, literally months before my 40th, so I really did sneak in. That's what I meant about nobody caring once your past 40. There are plenty of aging cunts like me who slip between the cracks who utterly fucked.
If I'd known about this 4 months later I'd have not been able to get 3 grand.
If I'd known about this sooner I'd potentially have have had 3-4k extra easily.
It's what I mean about financial literacy. A lot of this stuff is entirely unknown to poor garbage like myself
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Post by quadfather on Jun 16, 2024 11:26:14 GMT
Least you've found out about it now. What else are you able to do to help your situation?
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Post by Bill in the rain on Jun 16, 2024 11:34:30 GMT
25% bonus is really nice. Wish they'd had that when I was in the UK!
At least Japan has recently introduced a NISA which is functionally pretty similar to what a UK stocks & shares ISA used to be.
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Post by drhickman1983 on Jun 16, 2024 11:41:43 GMT
That's just it.
I could just about potentially afford to get (rent) a place of my own, which frankly would be much better for my mental wellbeing.
But that would eradicate my savings.
Or I can continue to live lodging or housesharing and save okay, but not substantial amounts.
Or I can try find a better paid position or change my - in my opinion not extravagant - lifestyle to save more quicker. Which brings me back to the question of what I want to do, because I would not cope well facing pressure from things I don't fundamentally care about.
I'll take a step back from this thread because I'm aware I'm just moaning pathetically.
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Post by quadfather on Jun 16, 2024 11:49:11 GMT
That's just it. I could host about potentially afford to get (rent) a place of my own, which frankly would be much better for my mental wellbeing. But that would eradicate my savings. Or I can continue to live lodging or housesharing and save okay, but not substantial amounts. Or I can try find a better paid position or change my - in my opinion not extravagant - lifestyle to save more quicker. Which brings me back to the question of what I want to do, because I would not cope well facing pressure from things I don't fundamentally care about. I'll take a step back from this thread because I'm aware I'm just moaning pathetically. Vent away, we all do. You've already learnt about the LISA, so instead of berating yourself, I'd pat yourself on the back, and use it to build on to keep going and finding other stuff to help. Sounds like you're finding out a way forward and the query now is what you want to do. You'll never find a perfect job, so what are your priorities for living? Perhaps if you have an idea what you could accept, you could start building on that in your spare time. All of this must come from you though - no one else can make the decision, but you don't have to rush it. |
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dmukgr
Junior Member
Posts: 1,525
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Post by dmukgr on Jun 16, 2024 14:17:47 GMT
And just like that we all learned Quaddy’s real calling is life coach and financial advisor 😊
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Post by drhickman1983 on Jun 16, 2024 14:22:59 GMT
Indeed.
It's all safe advice but I gote even know what my priorities are.
I just find the idea of what I'm doing RIGHT NOW not a long term plan.
If this is my life at 60 I'll be reaching for the barbiturates and vodka.
And yeah that's very edgelord but it's honestly how I feel tbh.
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Post by quadfather on Jun 16, 2024 14:46:33 GMT
That's why you don't have to rush, because it's a lot to process. One step at a time and maybe do something that helps you get some clarity for a bit. I go for walks for half an hour or so. Sounds ludicrous, but it changes the way your mind thinks because you're distracting it into focus on walking and not tripping up etc, which in turn helps your mind go clear and you can take a step back and mentally review stuff.
It's amazing how much it helps.
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Blue_Mike
Full Member
Meet Hanako At Embers
Posts: 5,384
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Post by Blue_Mike on Jun 16, 2024 14:51:34 GMT
That's just it. I could just about potentially afford to get (rent) a place of my own, which frankly would be much better for my mental wellbeing. But that would eradicate my savings. Or I can continue to live lodging or housesharing and save okay, but not substantial amounts. Or I can try find a better paid position or change my - in my opinion not extravagant - lifestyle to save more quicker. Which brings me back to the question of what I want to do, because I would not cope well facing pressure from things I don't fundamentally care about. I'll take a step back from this thread because I'm aware I'm just moaning pathetically. I'm in virtually the exact same situation. I'm 39, and at this point I can't see myself ever retiring because I have a pension of about £100. |
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Post by quadfather on Jun 16, 2024 14:52:10 GMT
My sister tells me all this stuff by the way. It's not just what I think, it's also advice and support from my sister as she's a fully trained counsellor and covers shit loads of areas.
She can't counsel me obviously, as I'm her brother, but she can give me all the ideas and things to try and help.
She's helped me no fucking end! So only cool to pass the info onto others.
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Tomo
Junior Member
Posts: 3,504
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Post by Tomo on Jun 16, 2024 18:44:10 GMT
Did not know about LISAs... got about 1.5 years to get one I guess.
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Post by Nanocrystal on Jun 17, 2024 0:28:40 GMT
In an hour long zoom workshop about our performance review process. Our insufferable director keeps jumping in with her "insights". It's excruciating. One brave/stupid person has basically stated the whole thing is a waste of time in the chat, so we'll see what happens to him...
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Blue_Mike
Full Member
Meet Hanako At Embers
Posts: 5,384
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Post by Blue_Mike on Jun 17, 2024 14:18:19 GMT
After a lovely 8 days off, I've returned today to find the place still infested with people who are such window lickers I wouldn't be surprised if they had 'Pilkington' written backwards across their tongues.
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Garfy
New Member
Posts: 386
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Post by Garfy on Jun 17, 2024 19:11:08 GMT
Found out today someone in the office has dobbed me in for wasting time in the office by reading kindle books.
I do sometimes kill some down time while waiting for stuff with a good book but going over my boss's head and reporting me to his business partner? Actively using it to try and get rid of me?
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Frog
Full Member
Posts: 7,284
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Post by Frog on Jun 17, 2024 19:53:46 GMT
Someone doesn't like you, you have to play the game at work now as you don't know who it is. Either find a new job or stop taking the piss are your 2 options.
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