spot on! Wealth transcends the mere aggregation of capital; it resides equally in the compounding of lived experiences and shared moments with those who matter most. Financial assets are ultimately non-transferable beyond one’s lifetime, but the memories forged-subtle, enduring, and relational-constitute a far more persistent form of legacy, carried forward in the consciousness and narratives of others.
“Of course, none of this means you should ignore money in your 20s. You absolutely shouldn’t. But there is a sensible middle ground.” This bit should be in bold. It’s all about balance. Which also applies to many things in life really.
As someone at the further end of the age spectrum my bit of advice is to look after your body. Exercise, eat healthy, sleep well and when you do get to the far end you will be in way better shape to enjoy it. My peers all seem to be falling apart but I can still lift more in the gym than most half my age and do sub 2hr half marathons. So maybe only 2 sausage baps Mr Archer 😂
Look after your teeth, and exercise, are two common refrains. I manage a 5K every day. Sub 2hr half marathon is very respectable for a young man - even more so once 40+.
Calories aren't real at barbecues, weddings and birthday parties. Moderation :)
My biggest challenge is actually my teeth-they seem to become more fragile with age, despite not having a sweet tooth , attending regular check-ups, and brushing at least twice a day.
Using a small soft head toothbrush, I brush in the morning, rinse and then apply Xylitol both sides of teeth...(simply dab the clean damp tooth brush head into ramakin to collect a small amount of Xylitol ).
Floss followed by brushing post lunch & dinner, rinse and finally apply Xylitol.
Amazon sell cotton thread (I don't buy plastic floss).
Couple of times a week I use Dr Eric Berc receipe to really brighten up the teeth.
Look up "The #1 BEST Remedy for Dental Plaque (TARTAR)" on YouTube.
Bang(et) on! Also increases the chances of finding things you genuinely enjoy doing for work. We haven't got things right as a society when we have kids stressing over tests as early as 7, teenagers hooked on mobiles and 20 year olds worried about if they'll ever afford their first home.
So much truth in all of the above. The crux of life, IMHO, is to enjoy everything in moderation and with a balanced outlook. Couple of things I'll comment on. First, FIRE is, IMO, one of the stupidest things ever concocted.
Second thing is very personal to me. I've always had a penchant for cars, I've not owned many over the 35 odd years since I passed my driving test, but I select for my own reasons and keep them for a long time. Many folks would look at some of my purchases and say why, to which I simply respond why not?
The first dream car I ever bought, I still recollect to this day my father saying to me, why don't you wait until you retire to buy that? His dream for the best of 25 years was to own a silver Mercedes, and despite my numerous attempts to convince him otherwise he steadfastly refused to buy one until he retired at 67. He got cancer at around 70 and passed away at 75. The Mercedes had clocked barely 3000 miles. Here endeth the lesson.
Yep. I often think it's a tad bananas that society is set up so that you have most wealth in old age when you can least enjoy it, and far less when young and either need it, or can make better use of it.
I'm sure that £100k at 30 is more valuable than £1 million at 70.
I think a large part of this is rooted in the so-called "Boomer" generation mindset, where post-war life was extremely tough so being frugal and thrifty was wholly ingrained. Those behaviours are, in my experience with the seniors in my family, impossible to change.
Many currently are, thinking that saving £3k a year extra from 21 to 26 is somehow going to change their lives in any meaningful way. That £15k is worth a lot more in experience than in an investing account. IMHO
Great advise to a fresh graduate...He certainly got the better end of the deal, exchanging a bratwurst in a bap (x3) for life's nutritious/delicate sushi roll created with flavourings from Buddha, Lao Tsu and Warren Buffet. Nourishment for a life time.
Quite frankly, I was not expecting this article from a mid thirty year old!
After graduating, my life has somewhat mirrored yours, however, I didn't find the next path in life towards financial freedom in my late twenties and I had no mentor to visit :)
Honestly, don't think he/she could have persuaded me to get off the exciting/enriching roller-coaster of life I was enjoying. Hence, the last decade or so has been spent focusing on achieving financial freedom! However, no regrets as we packed in countless adventures and memories and more later with our children. Thank you – really enjoyed the content!
What a nice post. I wonder how many 21 year olds subscribe though?
My only suggestion would be to take advantage of a share save scheme if one is available where you work. If you haven't the spare cash, work something out with a friend or family member who has.
Yep good idea. You’d be surprised - plenty of younger people are far more pro-investing than in the past, primarily due to free pandemic cash and lockdown bordom seeing an explosion of client growth within ‘free’ trading apps.
I'm impressed that you won >£10k on your first night in Vegas. Was the strategy and risk assessment you use for share buying similar to that for blackjack ?
You're going to laugh. My wife asked for 5 minutes of privacy in our room after we checked in, so I hit the tables without her.
As I was very freshly 21 and had never gambled before, I had no idea what I was doing. The others at the table were going all-in on each hand, so I assumed that was how the game worked; everyone else lost over the next few hands, and I kept going all in assuming the dealer would eventually stop you when the game was over.
When she joined me 10 minutes later, my initial $50 was worth well over $10,000 after winning nine hands in a row or so. She clocked what was happening immediately, shouted at me to stop playing, but I had already bet,
Last hand was perhaps a little nerve wracking for her!
Totally agree fwiw. Had 2 immediate managers die in harness at the Dutch investment bank I worked at for many years. In their early 40s, both. (Not my fault, I might add). They were financially set up for life, great family lives and working too hard.
One of my closest friends works at a nameless magic circle firm in London. He has more money than me, but the stress has led to an ongoing divorce. Two young children. They're going to split the assets evenly - you have to ask what the point is or was?
spot on! Wealth transcends the mere aggregation of capital; it resides equally in the compounding of lived experiences and shared moments with those who matter most. Financial assets are ultimately non-transferable beyond one’s lifetime, but the memories forged-subtle, enduring, and relational-constitute a far more persistent form of legacy, carried forward in the consciousness and narratives of others.
“Of course, none of this means you should ignore money in your 20s. You absolutely shouldn’t. But there is a sensible middle ground.” This bit should be in bold. It’s all about balance. Which also applies to many things in life really.
As someone at the further end of the age spectrum my bit of advice is to look after your body. Exercise, eat healthy, sleep well and when you do get to the far end you will be in way better shape to enjoy it. My peers all seem to be falling apart but I can still lift more in the gym than most half my age and do sub 2hr half marathons. So maybe only 2 sausage baps Mr Archer 😂
Look after your teeth, and exercise, are two common refrains. I manage a 5K every day. Sub 2hr half marathon is very respectable for a young man - even more so once 40+.
Calories aren't real at barbecues, weddings and birthday parties. Moderation :)
My biggest challenge is actually my teeth-they seem to become more fragile with age, despite not having a sweet tooth , attending regular check-ups, and brushing at least twice a day.
My personal routine....
Using a small soft head toothbrush, I brush in the morning, rinse and then apply Xylitol both sides of teeth...(simply dab the clean damp tooth brush head into ramakin to collect a small amount of Xylitol ).
Floss followed by brushing post lunch & dinner, rinse and finally apply Xylitol.
Amazon sell cotton thread (I don't buy plastic floss).
Couple of times a week I use Dr Eric Berc receipe to really brighten up the teeth.
Look up "The #1 BEST Remedy for Dental Plaque (TARTAR)" on YouTube.
Appreciate the suggestion - I’ll subject it to rigorous real-world testing :)
Charles, how about a subscription re-branding :- ‘Dental & Small Caps’ :)
Thank you
Floss.
Thank you for the suggestion , I do floss but only with the air pressure type as I find the thread ones cumbersome
Well said
Bang(et) on! Also increases the chances of finding things you genuinely enjoy doing for work. We haven't got things right as a society when we have kids stressing over tests as early as 7, teenagers hooked on mobiles and 20 year olds worried about if they'll ever afford their first home.
Indeed. Fell into this after trying out a variety of careers. Got to take chances.
So much truth in all of the above. The crux of life, IMHO, is to enjoy everything in moderation and with a balanced outlook. Couple of things I'll comment on. First, FIRE is, IMO, one of the stupidest things ever concocted.
Second thing is very personal to me. I've always had a penchant for cars, I've not owned many over the 35 odd years since I passed my driving test, but I select for my own reasons and keep them for a long time. Many folks would look at some of my purchases and say why, to which I simply respond why not?
The first dream car I ever bought, I still recollect to this day my father saying to me, why don't you wait until you retire to buy that? His dream for the best of 25 years was to own a silver Mercedes, and despite my numerous attempts to convince him otherwise he steadfastly refused to buy one until he retired at 67. He got cancer at around 70 and passed away at 75. The Mercedes had clocked barely 3000 miles. Here endeth the lesson.
Yep. I often think it's a tad bananas that society is set up so that you have most wealth in old age when you can least enjoy it, and far less when young and either need it, or can make better use of it.
I'm sure that £100k at 30 is more valuable than £1 million at 70.
I think a large part of this is rooted in the so-called "Boomer" generation mindset, where post-war life was extremely tough so being frugal and thrifty was wholly ingrained. Those behaviours are, in my experience with the seniors in my family, impossible to change.
Great advice Charles ... I would not have missed my hedonistic youth and adventures for anything.
Many currently are, thinking that saving £3k a year extra from 21 to 26 is somehow going to change their lives in any meaningful way. That £15k is worth a lot more in experience than in an investing account. IMHO
Great advise to a fresh graduate...He certainly got the better end of the deal, exchanging a bratwurst in a bap (x3) for life's nutritious/delicate sushi roll created with flavourings from Buddha, Lao Tsu and Warren Buffet. Nourishment for a life time.
Quite frankly, I was not expecting this article from a mid thirty year old!
After graduating, my life has somewhat mirrored yours, however, I didn't find the next path in life towards financial freedom in my late twenties and I had no mentor to visit :)
Honestly, don't think he/she could have persuaded me to get off the exciting/enriching roller-coaster of life I was enjoying. Hence, the last decade or so has been spent focusing on achieving financial freedom! However, no regrets as we packed in countless adventures and memories and more later with our children. Thank you – really enjoyed the content!
What a nice post. I wonder how many 21 year olds subscribe though?
My only suggestion would be to take advantage of a share save scheme if one is available where you work. If you haven't the spare cash, work something out with a friend or family member who has.
Yep good idea. You’d be surprised - plenty of younger people are far more pro-investing than in the past, primarily due to free pandemic cash and lockdown bordom seeing an explosion of client growth within ‘free’ trading apps.
Thank you Charles.
Given the proliferation of ‘life-hacking pro-tips’ from inexperienced ‘influencers’, this is the best advice I can give my three boys in their 20s.
Their future ‘dad lore’ depends on it.
Exactly. Gotta him ‘em with the most insane lore, as nonchalantly as possible, whenever they start to think you might be a tad boring.
I'm impressed that you won >£10k on your first night in Vegas. Was the strategy and risk assessment you use for share buying similar to that for blackjack ?
You're going to laugh. My wife asked for 5 minutes of privacy in our room after we checked in, so I hit the tables without her.
As I was very freshly 21 and had never gambled before, I had no idea what I was doing. The others at the table were going all-in on each hand, so I assumed that was how the game worked; everyone else lost over the next few hands, and I kept going all in assuming the dealer would eventually stop you when the game was over.
When she joined me 10 minutes later, my initial $50 was worth well over $10,000 after winning nine hands in a row or so. She clocked what was happening immediately, shouted at me to stop playing, but I had already bet,
Last hand was perhaps a little nerve wracking for her!
4th sausage bap! 😂😂 Honestly, for advice that lucrative, I’d have expected him to wait on you for the rest of the shift!
Like every BBQ, always make too much!
Totally agree fwiw. Had 2 immediate managers die in harness at the Dutch investment bank I worked at for many years. In their early 40s, both. (Not my fault, I might add). They were financially set up for life, great family lives and working too hard.
One of my closest friends works at a nameless magic circle firm in London. He has more money than me, but the stress has led to an ongoing divorce. Two young children. They're going to split the assets evenly - you have to ask what the point is or was?