Hi there looking for some pointers for my 28 yr old son. He’s self-employed has been for 8 years, still at home with us and I tell him he needs to plan for the future, but should he be looking at some type of pension or some other type of long term investment/saving plan? Great vlog by the way, thanks for any tips you can give…

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Nicely said James. I’ve been saying this for a while. Got £5k in PBs myself (just in case) and know a few with £50k I invest my money in a combination of ISAs and shares. My returns are way over 10% per annum.

I wouldn't call it a "gimmick". It actually makes zero "financial sense" to buy premium bonds. This isn't why people do it. You know from the offset that you're basically sacrificing your entire potential interest earnings just to be entered into a draw to possibly "win" absolutely nothing. The reality is, you CAN win some money, you most likely won't get as much as you would from interest payments, but you might be one of the lucky ones. With that in mind I'm still gonna give it a try!!

I kind of agree BUT if you've used your ISA allowance, want a diverse portfolio and want a tax free, risk free option I've found PB's very good. I've had the full allowance for a few years and win something every month. On several occasions the amounts have been above £500 and, though small, there's always a chance of a big one. I wouldnt bother for anything below the max amount.

Sorry but 55 is not on the cards for most. Also what about if you do not have a pension but only savings, to many variables!

The market can remain irrational longer than you can remain solvent

I've learnt two things from billionaires: to diversify your investments and to constantly put your money to work. This year, I hope to make money investing roughly $88k of my savings in equities.

3:12 1 in 700k chance of being killed by a meteor? Is it happening so often that we never ever hear of it? Or is that a 1 in 10,000 chance of everyone being killed at once? Not sure it’s a helpful stat

To be honest if you are starting out your pension journey at a very young age and have the appetite to maximise returns over the very long period that you will be investing for, I would just go 100% equities, I wish I had!

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Sound advice - thank you

I'm in my 40s, I haven't recently discovered investing, but I have recently got out of debt and got enough income to get started (although, thanks to Australia's supperannuation laws, I do have $130k in an index fund that I can't access for another 20-odd years)

Whatever you do, the government steal your money. You work hard paying income tax. Any money you put into your pension gets taxed heavily in the hands of your pension provider- including windfall taxes. If you put your savings into buy to let, well that gets hammered too. So I have concluded it is just not worth saving. At all.

Other options is to spend your money. So if you have children you draw what you need and extra is provided to your children to spend. Not as registered gifts but you buy them a sofa or go on vacation with them. I have a friend which gives them a debit card in their name they spend so much a month on it. This reduces your inheritance tax as the pot is smaller, but they have benefited from your pension for years. This to me is the most unfair tax a government has. What about people without children? They can spend their money over their lifetime buying new cars or five star vacations. While families ensuring the success of their offspring give up to save what they can receive upon your death. At the same time your children pay for the people that haven’t produced a future generation. No support for families.

I know it's hard to understand but in 1956 this was seen as a bit of fun and a way of gifting small amounts. That's it

This is a great video, but unfortunately most people won't follow these tips as their hubris will get the better of them.

I'm sure what James says is true but Well I just won £100 on an investment of just £250 in Premium Bonds so I'm a happy bunny. BTW, more than half of the £250 also arises from winnings.

The rich invest by diversifying across stocks, real estate, private equity, and alternative assets, focusing on long-term growth, tax efficiency, and professional guidance to build and preserve wealth also confirmed by Natalia Kyla Kimberly.

This feels like an old fashioned debate from the era of endowment mortgages? A couple of factors to consider. Offset mortgages mean that it can be paid off quickly as you aren’t paying tax on savings, nor fees on investments - or for a financial advisor 😅. It also means that if you lose your job, you can still access your offset savings with little penalty. If you have to sell ISAs to support yourself in the short term, you can’t then put the money back into subsequent ISA years. Also if you lose your job in a downturn and have to access your investments they may have plunged in value. The daily calculation of interest on offset mortgages is a fantastic innovation. I used this to pay my mortgage in 5 years. ISAs only cover £20k a year max. Pension salary sacrifice is a no brainier anyway and you will need that to give you an income, not pay your mortgage. The psychological effect of paying off your mortgage early cant be underestimated. Life changing!

Really hate the title of this video. I know it's a year old, but I ask to stop recommending channels that do this clickbait garbage. Really wish creators would respect people's time by actually telling us titles that represent what the video is about. I know this worked, but it also kills your credibility...

I think the whole care industry is absolutely disgusting, £1500 a WEEK is insane. These places are simply geared up now to scavenge money and this has only happened since house prices have ballooned. They know exactly what they’re doing! There are incredibly few people who can afford to pay £1500 a week!!for an elderly parents! It’s a sickening trend and it all stems from greed!

Too right btl is dead. It was on it way out about 10 yrs ago. 20 yrs ago you could openly admit to being a buy to let landlord. These days , you've got to be a bit sneaky. Got to say you're an ...accidental landlord. That you're only doing it to keep a roof over someone's head..... Doesn't really work tho anymore. Loathed by a lot of people , ...so many in fact that even politicians have joined in....hence all the upcoming laws. It was never sustainable, it locked millions of first time buyers out of owning but worse still ...created a time tomb for future tax payers. The state pension is barely affordable... old age care costs will cost of fortune ....and then there will be all the housing benefit bills.... Totally unaffordable. I suspect baring a reform government, the unthinkable will happen in the future..... Tenants under thatcher got the right to buy.... Wouldn't be surprised if private tenants get the same right ...with a suitable discount. It had to end...nows a good as time as any

I’d contend that successful investing has little to do with allocation or diversification and more to do with the fact that wealthy people have more wealth to allocate and that portioning it across asset classes is purely and simply a more tax efficient way of managing that wealth.

In my opinion, I think we will not get any rate cuts until something financially or psychologically breaks in the market. I believe the fed is trying to give it's self room to act when it's appropriate to, however, wall street is trying to bully the fed into a corner. Wall street wants lower rates to boost market valuations at the cost of higher inflation for the average middle class consumer. As how unpopular my opinion may be, I think the market and the economy needs to go through a recession to reset everyones sky high expectations and fix the psychological around the inflation argument.for me Bitcoin is the ultimate defence against a tyrannical government.r.. I would like to thank Evelyn Infurna community for being my source of crypto education as I comfortably earned 12.7 BTC. So now I'm ready for New Year..

2:10 James. I have a spreadsheet I have created connected with this subject and tax efficiency. You may benefit from it. I would benefit from your views. How do I get it to you?

👍is this anot&er psychological test? x

'Get a check from a GP'..🤣 You cant get near one if you're not private..

From $37k to $65k that's the minimum rage of profit return every month I think it's not a bad one for me,now I have enough to pay bills and take care of my family

5:19, your "gains" bet explanation is a bit weak: -- The "gains" question has the same average return for both options. The more risky scenario B pays me no extra reward for that risk. Hence, scenario A is the OBJECTIVELY better, and more rational, pick. The majority of people in the poll have reacted entirely rational. -- The "loss" question is more tricky. The loss/gains scenarios are NOT symmetrical for the decision maker, due to the possibility of bankruptcy, which doesn't exist in the gains scenario. If your capital is 1900, you wold grit your teeth and pick option A, the certain 1800 loss, as it won't wipe you out. If your capital is 1700, you would always pick option B, as you would get wiped out mostly anyway, except for a 10% chance in Option B to survive (zero loss). If your capital is in excess of 2000, which it would be for most people, for the same return (which both options have) you ought to pick the lower risk (lower variance) option, which again is gritting your teeth and just taking the certain, but more limited, loss. In summary: Capital ≤ 1800: Option B. Capital > 1800: Option A. OK, here the people have (mostly) NOT chosen rationally (assuming most have capital above $1800). I've heard you in other videos talk about Sharpe ratios and the CAPM model, which IMO applies here, for rational investing.

You don’t copy anyone’s trades ever !!!!! You don’t know their entry or exit or why they did how long they are hold for or the benefits they have for buying the company as women are buying 89 percent of the company ! And alot of investor thst are wealthy are using option calls and puts and weighing it against their stocks !!!

700,000 to 1 that you get crushed by a meteor? So on average 100 people in the UK get hit? This clearly isn't remotely true.

To massively simplify this: Say you bought your house 25 years ago for 100k, would you prefer to pay that 100k 25 years ago or now?

My father bought me £200 worth in 1969 which was a lot of money in those days im 55 now and never won anything , if i cash them in they are still only worth £200

Why does anyone need more than $10 million?

Are we looking to calculate how much we need for our retirement or that of our children. If it's just for the individual or couple then the capital is irrelevant to you. You are being convinced to join a system where capital is king IE stocks and shares or even property. They are always looking at not eating into capital. Here is an original idea just spend the capital. You are retiring just get out of the rat race.

Most REITs are invested in commercial property, not residential property.

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Hi James, great content - your videos are fantastic. I watched this with a flip mindset - I have mostly DC pensions with an older DB one (and my wife has an NHS DB one). I'd been thinking sbout getting transfer valuations on my DB one, but realise this could be a useful part of a balanced plan....

,,,,,,,,Because it requires mental discipline to perform the exact opposite of human nature, successful investment requires a lot of work. holding on when you're bored and just want a little action, buying in a panic, and selling in a bliss. Investing is 95% temperament and 5% intelligence.

Love your channel James, but you’ve undervalued lots of perks of premium bonds. Plus, they’re fun!

It's a joke. You get taxed all your working life, on your earnings on your purchases, and then they take tax on your pension. Cheek!

Who has ever been hit by a meteor compared to winners of the lottery.

Retirement isn’t an end goal, but a journey best secured by careful and consistent investments.

I’m currently retired, and considering the current rollercoaster nature of the stock market, I decided to stay on the sideline for awhile, now I’m worried with the numerous bank failures as of late, am I better off reinvesting my savings in the stock market or do I wait?

As a soon retiree, keeping my 401k on course after a rocky 2022 is top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.

Creating wealth entails establishing positive routines, I had only $60k to my name at 41 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor, Financial management is a vital subject that many avoid, often leading to future regrets

I have missed out on a lot of money not being decisive enough, but part of my new year resolution is to act different, perhaps utilize an advisor? my goal is achieving a 7-figure portfolio and I’ve set asides 250k for this.

I was reading this article that said Americans in their 40s are the least prepared for retirement. It makes sense when you think about it. Most people are busy with mortgages, kids, or paying off debt, so retirement planning takes a back seat.

Had to arrange care for my father. After 2 years of trying to care for himself whilst working fuull time. This was over 6 years ago abd ny mental and physical health are still shattered from the immeasurable stress of these 2 things. We elected to gobwith private care, as it was my fathers apartment to sell and his money. We looked at council care homes and they were so dingy and often without a private bathroom. He would have deteriorated so quickly in these. As it was, we paid over 1500 a month on care but he was happy. Thats all that mattered. The home had a dementia wing for when his illness progressed so we didnt have to move him again. I would do the same again and spend his money on getting him the nicest surroundings... inheritance is a privilege, not a right... is how i feel. I dont have kids and am so thankful that I wont be putting anyone through that. But again, just my view. Definitely get a power of attorney that covers money and health care for your parents. Do it now. Its too late to tey and do it when theyre impaired