Savings and Investments thread

stevexreeve said:

cantersaddick said:

stevexreeve said:

AndyG said:

Solidgone said:

Interesting posts on the various investments and ways to make profit. And the other posts about spending your money so that the tax man doesn’t get its mitts on it after you expire. Spending is not as easy as it sounds especially if you have a reasonable income, small outgoings and investments (hopefully) climbing against an upbringing of being careful with your money.  Although you might have enough money to buy that Lamborghini or Rolls and fly first class etc there’s something in the back of the mind that says it’s too extravagant and it’s wasting money. 

1-2-3 snap of the fingers and I’m back on the beach on the Côte d’Azur 😎🥂🤓

I know you are saying that in jest mate but for many it is reality. My MOM is in exactly this situation she is 82 and after a lifetime of being frugal even though she had no need she has a significant sum tied up in cash, property, pensions etc etc we try to get her to spend but it is so alien to her she just can’t do it. Add this to the fact that she won’t do anything about inheritance provisions as she says she has 20 years yet lol it is a problem

My perspective on this might be interesting.

I have built up bit of wealth over the years and tried to manage it sensibly but it all seems a little pointless now. 

3 years ago I was diagnosed with TP53 leukaemia with a life expectancy of 4 months. A trial drug called EP42 amazingly put me into complete remission! My doctors hoped that might last as long as six months. I'm still here but now finally relapsing after two years of normality.

I could have spent those years going on exotic cruises or lounging in the sun but actually chose to keep doing more or less what I was doing before! 

I kept going into work. Walking across London Bridge into the city on a sunny morning is an incredible experience. You just have to look up to appreciate it!

Travelling to Charlton  - negotiating the chaos on platform 1 at London Bridge - complaining about the price of a pie or the queues under the West stand. That's what makes life worthwhile! I don't want a limousine to the ground or a fucking silver service lunch with the directors before the game! 

I know I "should" pass some money to my son but he has already inherited a house from his grandmother and made a life for himself as a teacher. I can see how he loves the kids he teaches and the pride in his eyes at what he has achieved. Casually giving him another half million might destroy all this. I know he'd just hide the money away in some sort of "pension" anyway! He wants to "earn" his next car or house.

Older people who refuse to spend money aren't necessarily being stingy and don't "need to change their DNA". They just want to be happy and do what they've always enjoyed doing.

I suspect many people on this thread enjoy saving and making money "grow" and will find it incredibly difficult to suddenly start spending frivolously! My advice would be to just keep doing what you enjoy and stop pretending there is some sort of nirvana (or heaven?) waiting for you towards the end of your life or indeed any point to it all in the first place!

Sorry if that's quite heavy but its good for me to unload. Thank you.
 

Sorry to hear that you are now relapsing and wish you all the best. 

Completely agree with what you say. And expecially taking a moment to look up and enjoy where you are and what you see daily. 

I would say - I hope you manage to find time for the odd treat for you and your loved ones. Those moments are really important. My Dad had lymphoma and the odd weekend away together with my siblings and their kids means so much to all of us.

On your son again agree with your approach but would challenge to say - could you put something aside for him in some kind of product that can ensure he can continue doing the job he loves without having to worry about if something goes wrong in the future. Friends of mine who are teachers do worry about what they will do if the car breaks down or whether they can afford to have kids (some have left the profession in order to earm more and feel they have the buffer to have kids). You don't want him to be in that position so something for him that could even be put aside for the next generation if he doesnt need it but gives him a safety net to not have to worry.

Thanks for your good wishes!

My son and I have discussed all this often! He is fully aware that his life differs from most of his colleagues in that he can always come to us for money if he needs (or even just wants) it! Neither of us (nor my wife) can decide what to do!

It reminds me of "Common People".  A rich girl is hoping to live a normal life but can't because she knows one phone call can make all the problems go away! (Politicians take note when talking about the cost of ling!)

I have a FIL living in a large empty house in Leigh on Sea. For fifteen years, we've tried to get him to move to a residential home and sort his finances out. He just tells us all to piss off. So my wife will soon come into a "life changing" sum of money at the age of seventy and my son will eventually get this when he is around fifty because god knows how my wife will be able to spend it!.