The Best Investment Advice You Will Ever Hear

[@JamesShack]

Have you ever invested in yourself, where did you end up?

[@ihsanqazi]

I moved from customer services to sales back in 2017..i moved from 21k to 30k in 1 year, 36k the following year, 44k in 2019...going for job interview on this Thursday for which the total package is touching 90k...I'm hopeful and optimistic that I will get the job

[@MartynThomas1]

I graduated in 1990 and got a (non graduate) job working on a ship in the Oil Industry. After 4 years I took out a Career Development Loan (£7k) and did a Masters Degree in Software Engineering. My first job (for an Avionics company) was on £17k. This was less than I earned offshore. After a year I switched to the finance Industry and a few years after that I took a job with bank in the City. @5:00 you say ... "Imagine you are a Software Engineer ...". I switched to Software Development and "City Finance" rather than Cyber Security but the graph you drew is a decent approximation of my career.

[@jonathanhowson6420]

I was made redundant from a building surveying job at the start of my career during the last recession. I decided to design and then build a house, while being on site every day and learning from every trade. The experience from that has opened up so many doors for me. My aim is to start my own surveying business in the next 6 months with the expetation of earning 6 figures. This is based on the work I have brought into my current employer over the past 2 years with referals from my contacts. This will give me about 50% more free time and allow me to spend much more quality time with my new family. 2 hours a week professional development is an absolute minimum for me.

[@nikul5663]

This was a nice reminder James, I'm most of the way through an MBA at the tender age of 35 with a toddler and another on the way. It's nice to know the late nights and working weekends might be worth it!

[@matthewRest]

I have a love hate relationship with this way of thinking. I left school at 16 and followed a career path in accountancy. Over the next 15 years I worked my way to almost the top, ending up as an office manager on 40k PY. I purchased my first house and then saved the deposit for a second, which i still live in (I rent the first to tenants). I also paid 10% into my pension (plus ers and HMRC contribs) and invested a little. But my Mental health suffered, targets, long days and pressure added up. I attempted suicide three years ago. Having rebuilt myself I now work for a local mental health charity for four days a week earning less than half what I used to. If I wasn't financially prudent in the accountancy years, working hard and qualifying as a chartered accountant, I'm not sure I could do what i do now from a financial POV and have a much better work life balance. But I cant say that I enjoyed it or that it was for me really. Saying all that though, this is another great video from you James. Eloquent and well explained.

[@davidcurran8039]

Hi james. I’ve just forwarded this to my three young adult children. Their mum was just 42 when she died - they were aged just 15,13 & 11 & I love the angle you approach this. I’ve also added the following “I have emailed this to all of you. I think it’s worth 10 minutes of your time. It’s not perfect or even 90% right because it comes from a position of mostly talking about money and life isn’t all about money but you could incorporate this in every walk of life. Investing in friends, in knowledge, in cooking skills - the list is almost endless. Dad♥️” Thank you for the prompt and the opportunity to pass on wonderful life skills. David Curran, Galway, Ireland.

[@JamesShack]

Hi David, thank you. I hope they find it useful. And I’m sorry for your loss. My mother also died at 42, although it was not as hard for me because I was only 2, so I can’t remember. Your additional message is also true and import. All the best, James

[@LEWIS1992]

Chasing a higher salary is not always a good option, however. Higher salary jobs = more stress, more worry, more impact on mental health. I've recently moved to a lesser-paid job which is significantly less stressful. Never looking back.

[@hannahb6471]

Not always the case. My current role pays £73k and is much less stressful than my previous role on £61k! I'm leaving for a role paying £85k and have no idea what it'll be like BUT if it's worse and impacting my health, I'll just go somewhere else. You don't know if you don't try 😊

[@robsmith1184]

@@hannahb6471 Same, I earn >10x what I did in fast food and this job though mentally demanding is less stressful and much better for my mental health.

[@musicloverUK]

Agreed. As my doctor says 'stress kills'

[@james.atkins88]

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[@andrew.alonzo]

For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My spouse and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.

[@hunter-bourke21]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $875k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@rebecca_burns14]

@@hunter-bourke21 Interesting. I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@hunter-bourke21]

Sure. There are a lot of independent advisors you might look into. But I only work with *Camille Alicia Garcia* . and we have been working together for nearly four years. She has since provided entry and exit points on the securities I concentrate on. She's well-grounded and known, shouldn't be a hassle finding her page.

[@Kim.beneteau]

Camille. Has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.

[@supersonicboy75]

I have been a doctor for 20 years and immense sacrifice is now rewarded by angry patients, dissatisfied complaining relatives, bullying NHS managers, incompetent DOH bosses and salary in retrograde since 2008. We are losing thousands of colleagues every year and the forums are of droves of desperate doctors trying to escape medicine but locked in with little transferable skills and loaded with responsibility of kids and mortgages. The profession has gone down the pan since the 90s. Colleagues I went to school with work in the city and earn 3-5 times my salary in the City of London. Sacrificing yourself on the altar of a noble profession like medicine is a fools errand. I couldn’t recommend this path to any child now. The COVID clapping is of little value when you worry about paying your mortgage, energy bills and can’t pay for a reasonable ‘middle class’ life and constantly worry about money on two salaries. Moral to the story - don’t end up in a dead end job - diversify. Pick diverse A-Levels and do diverse degree. Keep an open mind. Don’t chase a romantic dream. Take risks when young. Do lots of different unrelated jobs and play the skills, training and work field. What you want aged 18 is not what you want or will value in your 30s, 40s. Finally, go back in time and stop watching Holby City and E.R.

[@JamesShack]

Thank you for sharing. Is that limited to your specialisation or do you see that across the board?

[@supersonicboy75]

@@JamesShack across the board.

[@AphexRebellion]

Yeah, the Tories want to destroy the NHS, but interested to know how it was going down the pan before that (since the 90s)?

[@leighsimmonds2995]

Great video James... One thing I would say from my experience is that there comes a point where earnings and the associated increase in responsibility that comes with the increase in earnings needs to be weighed against your health. As you step up in an organisation and start to take on those high paying roles, the impact on your physical and mental health can be significant. So like all things in life there is a balance to be struck.

[@skankbiz]

Well said

[@phillynch6295]

Agree entirely. I left school with little in the way of qualifications. Started as a labourer, several years of part time education moved me to an office based role. Masters degree in my 30’s (again, part time) really accelerated my development. In my 20’s I was subservient in both grade and salary to graduates. In my 40’s, those very same graduates were working for me. Do the self development, look at the habits of successful people, get a mentor, work hard, success will come. Be humble, be patient.

[@JamesShack]

Hi Phil, thank you very much for sharing. Hopefully others can use your journey as inspiration.

[@neilcook1652]

Unqualified waiter to hotel General Manager in 21 years, Telecoms manager for 13 years and now self employed procurement consultant for 10 years......Now £110K p.a. for 10 months a year work. Bought £113K house in 2001 and now it’s worth £470K ! ....Strange how life works out, if you consistently apply yourself and live within your means.

[@JamesShack]

Thank you for sharing Neil, hard work and tenacity has done well for you.

[@frusciantesplectrum7980]

I work at a train station selling tickets. Own 5 properties and paid off my house which is valued at £290k. I own a 12 year old car and £50k worth of shares. I work 12 months a year for 35 hours a week. I can’t grasp how you’ve not built more wealth on a salary over 3x mine?! I didn’t apply myself but simply lived below my means and reinvested the rest. I’m able to retire and only my girlfriend knows my wealth.

[@johnduddy2359]

@@frusciantesplectrum7980 To be fair, he didn't refer to the wealth that he had accumulated, just to the progression in his salary and the progression of the value of his house. He could have massive credit card debt, or a huge investment account. You don't know.

[@frusciantesplectrum7980]

@@johnduddy2359 you have a good point

[@aaron___6014]

​​@@frusciantesplectrum7980how did you get loans for 5 properties if you're a ticket clerk? We all know your wealth now.

[@kristiyanivanov7414]

Needed this reality check. I am 19 years of age and you're exactly right. This is the time to scale, not to think that I am such a big brain and invest in others, but rather in myself. Thanks.

[@stevegeek]

Glad you mention the importance of health. This is often missed, but if you don't have your health you have nothing. I'm in my mid-fifties and I get up early and run each morning before work. Weekends I run and / or cycle, whatever the weather. Sometimes I ask myself why I am putting myself through this, but then I remember others I know, who have not looked after their health...that keeps me motivated.

[@JamesShack]

Spot on. It really is. When you're in your 30's and 40's when you think you're young enough not to have to care about it is when it creeps up on you. The impact of work stress can also be huge. You mainly see it when people finally stop, and then age rapidly.

[@rob3rt891]

James, I really wish your videos were available when I was high school age, 16 to 18 especially, I'm currently 32. All of your videos should be part of the school curriculum.

[@JamesShack]

Hi Robert - thanks for watching. I know, I wish i viewed education the way I do now when I was back at school!

[@conorturton]

The irony of the pilot analogy is that most dont actually get paid much and many who were laid off during the pandemic are now driving lorries making more money than they did as a pilot.

[@adama.r.6798]

This is one of the most insightful and honest videos I’ve seen in while. Investing in your skills should be a no brainier, especially for young graduates!

[@JamesShack]

I think it's easy in hindsight. Not only because you're more mature but you have a better knowledge of your industry and how to get into it. Young people don't have that vantage point. There are thousands of opportunities and routes to getting those opportunities but they're hard to see when you're at ground level!

[@listert2595]

Absolutely great advice! In school you’re taught to get a job, work your way up and one day you might be on a decent wage in a decent job position. This fuels the whole “I want a pay rise because the cost of living is going up and I’ve been here x years” mentality and whilst I don’t agree with certain aspects of the cost of living going up, nor do I enjoy it, the company you work for doesn’t just want to give you more money to do the same job. Yet, if you actually go out there and find somewhere that will pay more, or offer additional skills and services to your existing employer, then you’re a lot more likely to get more money. Eventually, you might hit a barrier and need to upskill yourself. Or, you may even find you can do it on your own and start a consultation or service business. But sitting still in your role, expecting a pay rise because of inflation or Because you’ve been there a long time will just get you know where. I’ve also found that at a point, it’s much easier to invest into a new area rather than keep investing in your existing area. A good example would be a hobby you enjoy now and trying to make a business out of that on the side. Something that you’re passionate about and can gain enjoyment from as well as money.

[@JamesShack]

Lots of very good points here. Whether you think it's good or bad, we live in a free market capitalist society which pays people what they're worth if they take themselves to market. So you need to 1) Increase your value to employers 2) Regularly take yourself to market. Finding something you're passionate about is one thing, but finding something that is also economically valuable is harder. But it's what you want to aim for because then work won't feel like work, whenever you have free time you find yourself learning, building and optimising. Thats the reason why I've got my channel to where it is, I've probably put in over 1500 hours to it alongside having a day job. But it doesn't feel like work!

[@sacchinsharma2755]

Great pep talk James. The pep talk of investing in physical & mental health is just what I needed to hear at this moment! Thanks

[@gregorise]

Great point, investing in yourself not only in education to lead to a better role but also (and more importantly) in mental / physical health.

[@King_Harrold]

Great advice. My father is a HGV driver. He advised me to go as far as I can with school. So in 2008 I graduated with a degree in Accounting & Finance. But I didn't stop there, I realised having more credentials than the next person is so beneficial. So every couple of years I look for qualifications linked to my profession, so after uni I've done: - Chartered Internal Auditor - Post Graduate Diploma in Audit Management - 2 x ISO audit qualification - Certified Information Security Manager - Lean Six Sigma Green Belt These 'keywords' get me on recruiters radars and the experience make me stand out to hiring managers. At 35 I'm on a six figure salary in the Midlands. And as for health ... I've just got private medical and will never go back to the NHS waiting game.

[@JamesShack]

Thats a growth mindset right there! I think being innately curious is a key to a successful and varied career.

[@HK.Builds]

I absolutely love your videos the bit about looking after yourself is so important. I experienced burnout for the first time since working in engineering from the age of 18. I was 26 and feeling so unproductive, underpaid etc. I was borderline suicidal. I took 2 weeks off work, and went back to the gym, cleared my head, logged on to LinkedIn and started networking on there. Long story short, I got multiple job offers almost immediately after joining, ended up with an almost 20k payrise, much better work life balance, and my old company tried to salary match it. I was young and naive and didn't know my own self worth with my bosses taking advantage of my work ethic. I am in a way happier place now. Not necessarily because of money because yes that makes things easier, but I don't feel burned out anymore and learned to value myself and my time much better.

[@JamesShack]

Thank you very much for sharing. A lot of our identity comes from what we do, from work. So when things are not going well, it can really take you down a notch. I've been there many times before. I often find that if i'm too focused on one area of my life (work most likely) I can get down. The solution is to focus on other areas, friends family, health and personal growth. You need to have a balance otherwise when one gets bad, it seems like you have nothing else going for you. A saying i've seen doing the rounds lately: A bottle of water is $1 in a supermarket $2.50 in a bar $4 on an airplane $5 in a hotel Same product different places. You need to find where you're valued most.

[@matthewjones8675]

Great video as always! It’s given me a kick up the ass to finish the cloud engineer course I’ve been putting off for the past 6 months.

[@JamesShack]

You do that!

[@pataleno]

Great Video James. This I can relate to. I worked in IT for the last 30 years and recently re-skilled to cyber security. I'm still taking the exams but have increased my salary from £55K to 75K by passing just a few. This will go up to £90k with one more exam. And i'm sure I could increase this further if I checked the job market. which I've seen £120k offered in some large corps. Investing in yourself it is so important. Make it a hobby and keep on learning.

[@JamesShack]

Feed your curiosity. If you can find something your interested leading is easy! Great effort on the exams, I've spent many years doing them in my early 20s and it was such a great investment. Despite what a bore it seemed at the time!

[@ianmoore4159]

Do you mind if I ask what courses/certs you initially looked at to move into cyber security, have been Infrastructure side for a while and want a change

[@maltesetony9030]

Too late for me - I've retired. And what strikes me now is that, on a good day on the markets I can make as much money in just that one day than I used to take home per month. Which makes me realise how cheap my labour was! Food for thought . . .

[@georgep19844]

Do you day trade?

[@JamesShack]

If you have a £500k portfolio a 2% move is £10k. Its a lot!

[@JamesShack]

Perhaps look at it another way - how much capital do you need to sustainably provide the income you once worked for?

[@georgeosp5863]

@@JamesShack yes I agree but long term investing, 2% up is good but the next day it can be 3% down.

[@jam99]

What about on a bad day?

[@davidhouston7721]

James - a simple yet powerful message thanks. If only schools had a proper suite of lessons that covered personal finance, career development and personal health. Any chance of a video setting out what you'd cover as a school syllabus if you were king for the day? Could even lead to a new income stream for you! More power to your elbow and thanks for what you do, David.

[@squadmeta]

I believe the school curriculum is entirely by design, it sets up a certain percentage to do ok in life and a certain percentage to never flourish. If everyone got a grip of the things you mention and applied themselves to it and flourished there would be a problem, no one would want to do the lowest paid and arguably most important jobs that keep society running. People become what they are surrounded by, unless they break free and have the drive to find information on their own and school themselves, throughout the entirety of their life.

[@JamesShack]

Hi David, that's certainly an idea I have for the future. I'd love to do that. Even if it took me 3 months to make, an online course could be useful to millions of kids. I don't know much about keeping kids engaged however. It's much harder to hold the attention of a teenager than a 45 year old who's starting to realise they have not saved enough for retirement. But that's the challenge, If i could do it the impact could be huge!

[@davidhouston7721]

@@JamesShack if there was a way to run as a competition (with small prizes / certificates) where each pupil started with a virtual investment of say £10k and were taught how to use for virtual ISAs, shares, pensions, savings, wellbeing courses with the challenge to grow over a 12 month or 3 year period you could pilot at one school (or local authority) and take it from there? Could be financial equivalent for what Jamie Oliver did for school nutrition! Would be happy to bounce a few approaches with you.

[@JamesShack]

@@davidhouston7721 Hi David, I’m sure I could crack it if given the time. I’m working on a few other projects at the moment but I would be grateful if you could please send me a email to [e-mail] so we can keep in touch!

[@AlessandroBottoni]

Great video, kudos! There are three skills that almost always pay back: languages, digital technology (in particular, computer programming) and mathematics. They allows you to widen your market by allowing you to communicate/interact with more people/customers and supply more valuable services. If you are not sure what skill develop, bet on one of these. You cannot be wrong.

[@inuvik491]

Agree James, left school with nothing except a love of engineering, lifetime of learning and re training has served me well. . That and learning to talk to people. Keep up the great content.

[@JamesShack]

Thanks David. What career path did you end up going down?

[@vinylwarmth]

This is precisely what I've done since turning my life around at 30 10 years ago. More than doubled my salary in past 2 years and not finished yet.

[@MartynThomas1]

This is tremendously valuable advice. I'm now going to share it with my children.

[@JamesShack]

Thanks Martyn, I hope they find it useful.

[@OfficialCcallum]

Currently in my second year at uni to progress within the field I’ve worked in for 7 years. I was happy in my role, however I have my own family now so it’s time to learn more skills and knowledge to provide a better financial lifestyle for my family.

[@teamschmangled]

Thanks James! The timing of this video couldn't have been better as my 17 year old son ends school and tries to decide what to do next year.

[@jamesfurz7406]

It's worth remembering that sometimes the cost of investing in yourself can mean what seems like a step backwards - taking a lower paid job that you don't have experience in for a few years for example. The cost of self investment however, if done correctly, should come back later and not always financially.

[@NS-kc8hb]

What a fantastic video thanks James you have no idea how you just motivated me after the week I’ve just had

[@dknn2k]

100% by doing professional skills courses relevant to my industry I massively increased my earning potential in literally months.

[@paulpeters5755]

Love this video, really not enough similar videos out there. I see lots of comments on other videos of people who say they only have 100 pound a month or so to invest, if thats the case you are much better saving up to up skill yourself.

[@alangray8952]

Great video, and thoughrly agree that you need to invest in yourself first. I recently left the Army after 24 years, started investing in myself 5 years prior to leaving completing a degree in Business Management, a degree in Communications and studied project management. Now employed as a project manager in a great company and pushing for a promotion already. Continuous improvement is key

[@JamesShack]

Hi Alan, thanks for sharing this. That's great to hear. Coming out of the Army is probably one of the toughest transitions out there, especially after 24 years. But it does focus your mind on the fact that you will have to re-train/upskill at some point. So why not start as early as possible.

[@robertthomas3461]

Inspirational. Deserves to be widely watched by many people.

[@NekonataVirino]

Great video James. I love the bit where you tell people to get their employers to pay for it… i did this multiple times. In the beginning my work wanted me to do an access (database) course As I was at the time an information officer. I managed to find a Masters degree in information science that included exactly the same database management skills as a simple access course and a whole lot more for the same price - and I got my employer to pay for it. I also managed to get a different employer to pay for my accountancy training - result was I Doubled my salary within five years. I also still have skills that I could still use if I had to now i am financially independent and retired early - I’ve never regretted it.

[@JamesShack]

Thats a great result. Well done for thinking so laterally. If you can pitch it to work in the right way it's a win win.

[@raycourtney516]

This is great advice. I skilled up and now earn a decent 6 figures with a fraction of the stress of 20 years ago when I was at the bottom of the pile.

[@JamesShack]

Great stuff!

[@use9669]

Wow great video, just what I needed at this point👏 Moving to a new position in my company with potential to rise the ladder in this company or an other one. And I love learning new things 👌

[@williammoore9609]

One of the best videos I have watched on the tube. Absolutely fantastic advice. Wish i had seen this as an 18 year old. Well done James. BZ

[@James-lq1po]

Can’t argue with the sound logic, BUT investing for me is about FIRE and/or building up some assets for the kids. I want to spend less time working. Keeping a lid on costs should never be overlooked. Love the channel 🙏🏻

[@JamesShack]

Thanks James . The challenge is, is the best route to FIRE investing in yourself and increasing your income OR staying in the same salary path but saving more of it. I would argue that you’d be better off investing your time in attaining a higher salary than a higher savings rate.

[@James-lq1po]

@@JamesShack the missing piece is job satisfaction/life balance. More money definitely doesn’t always equal a happier working life. Thanks again, and look forward to the next!

[@robbiemalcolm]

James, this is good advice, and it is within everyone's grasp to improve their skills and earn a higher salary BUT working for other people will never make you rich (except in some corner cases where you join a unicorn company when it is small and become rich through stock options and the like. The only way to become rich and truly financially independent in 10 years or less is to start your own company and grow it. The effort you put in has compounding returns i.e. you get a salary + you grow the value of a company (which can be sold later on). I recognized that this is not within everyone's reach, not because of the startup capital required or because of skills but because it is stressful, takes confidence, courage and a safety net in the event of a failure which is not for everyone. Full disclosure, I'm following your advice as it is a safer option given my circumstances, but would have followed my advice above when I was younger (before kids) had I known.

[@JamesShack]

Hi Rob, thanks for the comment. I think the company option is open to those that are up to - although I'm not sure how many people are up for it! It's can also be risky. Is that why it's not right for you now? But yes, the dream would be to be independent and to work on your own terms. I am very much on that journey myself!

[@robbiemalcolm]

@@JamesShack With mortgages and kids to support it is too risky for me right now but maybe in time things will be less risky, and/or buying a small company and growing it (vs. starting something brand new) would have a risk profile I can live with.

[@Rt-hr4nd]

I gave up on chasing promotions at work when I realised how much time and energy I needed to give to my job for relatively modest pay increases which would be taxed at 40%.

[@mrbushpilot]

Funny you're talking about bus drivers and pilots. I was a lorry driver, now I'm an airline pilot. I spend time on longer flights learning about other things.

[@JamesShack]

Well there you go! Saying that, it takes a lot of 'can do' attitude to make those steps. Well done.

[@wildgoatmtb5361]

Thank you James, taken on board and shared with my son.

[@win-scope5663]

You speak the truth what people don't want to hear

[@AlasdairILoveOxford]

Every time I research and create a new tour product, if I am correct to Intuit there is a market appeal for it, I create another addotiobal year on year income stream. Many of my tour product ideas also floo but Jame's point rings true to me here

[@freddyheppell]

Fantastic video. Thanks James

[@jonathanhowson6420]

Absolutely brilliant as always. Keep up the good work

[@JamesShack]

Thanks Jonathan, I'm glad you enjoyed it. Share it with others if you think valuable!

[@tesla_stephen4651]

Great video James, lots of important messages in this video 👍🏻

[@Stefan_R14]

Such a true story! Thanks James!

[@Markrspooner]

Great video James. ***pointless rant *** I know it was just an example, but graphic design and UX are not as similar as people think (UI design is much closer). User Experience is discovering and solving (designing) user problems. Not to say that a Graphic Designer couldn't train to do that, but there are less transferable skills than most realise. The only reason I say this is that I have been a UX manager for many years and I have seen plenty of CVs where graphic designers that have just called themselves UX designers, if I am lucky they might have done an online UX course, often not though (I think you can tell this one touched a nerve 😅) *** end of pointless rant *** I do however agree with your principle, I have invested in skills throughout my life, not all designed to improve my income, but some of them have. I have also trained many in UX, some graduates out of school, some that work in call centres, showing them how they can invest in themselves and have not only a financially rewarding job, but also one that can feeling rewarding on an intellectual and emotional way.

[@MrKurtcko]

I am 43, already financially independent, I still watch your videos lol

[@JamesShack]

Haha - it's a great job! And thanks for watching.

[@mattallen1052]

Another great video James! Idea for topical new video - at what interest rate does it start to make better financial sense to use a lump sum to pay off your mortgage rather than invest in index funds? I know in the past when you’ve covered this investing was the smarter move, but if the BoE rate does go to 7% I’m wondering whether that will no longer be the case?

[@JamesShack]

Good idea.

[@nachsonsantos5904]

Thank you.

[@adsharma916]

Can we have one after the recent mini budget ?

[@DR00002008]

Plenty of food for thought here, I may need to rewatch. Thanks.

[@JamesShack]

Glad you found it useful. Share it with others!

[@maxflight777]

Super content ..good work James

[@pousis101]

A brilliant video James, thank you .

[@JamesShack]

Thank for the continued support Phil!

[@jwracingteam]

Heck of a video, bookmarked saved!

[@downwind_david]

So true... been to a university twice in the last 12 years and pretty much doubled my income after each visit going from AU$33k to AU$69k (after completing one year Graduate Certificate in Teaching and getting a teaching job) to my current salary of AU$132k (after completing one year MA in Teaching and gaining School Principal job)... Each visit cost me about AU$9k, which was tax deductible so about AUS6k in reality. Best return on investment ever!

[@JamesShack]

Well done David! And when you think about it, not a risky investment either. If you've done you're research and you're prepared to put yourself out there the chances of success are very high.

[@Simon-vp3st]

Good sound advice :)

[@fallofdutee]

I gave up shift work this year (and moved into a more technical role) as it was exhausting. I have worked shifts for approx 20 years. The last year the shifts changed resulting in two block of 60hrs and one 48hr shift. A few more days off was mostly spent in a state of constant tiredness. Unfortunately losing shift allowance means I'm struggling financially especially in these high inflation times. Being the wrong side of 50 doesn't help either.

[@JamesShack]

Does it make your role more sustainable however? Does it give you a more stable platform from which you can prepare your next move?

[@maino9752]

Can I please ask when you back test pension drawdown plans, what index market do you test against?

[@ap5017]

Incredible video; Your best to date.

[@JamieBHolland]

Absolutely love this type of video James! 😁 keep up the great content!

[@JamesShack]

Thanks! Will do!

[@bcarroll7317]

I never wanted a pension. I could never afford to pay into one. The way I see it, if you can save £400,000, that will pay you £ £20,000 per year in interest, and you won’t need to touch your £400,000 savings. Whereas 400,000 in a pension that pays you £20,000 per year, will dwindle over 20 years to nothing.

[@jasonharding3886]

Totally agree with this, I invested in myself 18 months ago, at a cost of around £7k, I have increased my wage by circa 25% and also work less hours.

[@JamesShack]

Nice Jason, what qualification did you get?

[@jasonharding3886]

@@JamesShack although I’ve always done mechanical engineering I decided to get all my electrical qualifications, less grease also!

[@jackmorgan5959]

Needed this pep talk. Thanks for sharing

[@JamesShack]

Glad it was helpful!

[@highwayman01]

Get your point about the bus driver and the pilot however, bus drivers train for 12 weeks before they allowed to carry passengers not a couple of hours as you put it.

[@JamesShack]

Thanks for the correction.

[@KTMFerr]

Truestory, I got a masters and still take courses and try to keep up to date with any new technology and improving my skills and going up the corporate ladder. Reason I invest is that would be foolish to spend all my all hard worked money in fancy cars or clothes. Both my skills and my investments shall increase my yearly income year by year.

[@JamesShack]

Well done. Most people understand investing in stocks, but don't see the value in investing in themselves - or see it as too hard. You need to have a growth mindset. You need to be naturally curious!

[@IanCocking]

30 Year IT career, House paid off, 400K savings, 58 years old. Do I want to spend thousands ££££ on technology courses to have uptodate skills to compete with Freshmen straight of Uni for starting salaries? with the associated stress of a responsible job and annual leave constraints, Nah ya good

[@taserpulse]

It is still assets but we never think of ourselves as the most valuable.

[@JamesShack]

Human Capital! At the end of the day, our time and health is all we have.

[@edwardhampshire]

Bravo 👏

[@sheety88-o7s]

Love this, great video & amazing advice.

[@JamesShack]

Cheers!

[@mattsennett]

A great twist on your normal videos James but so true.

[@JamesShack]

I'm glad you found it refreshing. It's actually the same topic I talked about in my very first video!

[@mAcroFaze]

I invest in making sculptures... But they require a whole lot of time to make, which means I need to price them accordingly, and even then, there's no guarantee that, as much as someone may like what I make, they're willing to put down the money for it :S

[@huxleyjunction2133]

A great message, expertly delivered.

[@JamesShack]

Thanks!

[@TheOmniscientOne]

Good advice, I shall share with my kids.

[@JamesShack]

Please do!

[@hannahb6471]

Just a point about work paying for qualifications - see if it qualifies for the apprenticeship levy. Companies with an annual pay bill over £3m pay 0.5% of their annual pay bill into the levy. If they don't use it for qualifying courses for employees then they can donate 25% but the rest is kept by HMRC. Big companies have pots of money literally sat there for employees to use! My current one just donated nearly £100k so had £300k kept by HMRC unused. On our internal homepage now the first thing is a link to sending in courses people want to do so it doesn't go to waste like that again!

[@CAF-sl2sl]

Hi James, I have a bit of a question that needs all your expertise. I can't find anything online to help. I have 200K in an ISA and approx 1million in a lifestrategy fund, the question is how do I best manage the withdrawal when I am faced with paying tax. Any help on this or a video you have done previously please help?

[@lukeroddis6427]

Inspiring video, many thanks. Was fully expecting a segway into SkillShare though 🤣

[@JamesShack]

Haha, would have been a good sponsor!

[@voiceguy554]

Exactly James! Thanks for this! I have been trying to get this message through with many of my friends and on many forums and I mostly get the roaring reply of .....silence! :)

[@JamesShack]

Hopefully this video can help you get the message out there!

[@markcosgrove8365]

You are awesome

[@Amit_l92]

Great advice James 👍

[@JamesShack]

Thanks Amit!

[@richard3259]

Excellent message

[@JamesShack]

Thanks Richard - I'm glad you found it useful!

[@pritamrp]

Great video, something everyone can learn from.

[@JamesShack]

Thanks for the comment. Please share it if you think it's useful!

[@brianstevenson9967]

Also as to your possible make your life better advice. I know of 2 fully qualified Graphic designers, done all the exams been to Uni for god knows how long. Big investment in education. 1 works in McDonalds and the other works in a bakers serving over the counter. So just because you have qualifications does not mean a damned thing if there are no opportunities. To add another my best friends Daughter is a fully trained and experienced micro Biologist, she works in Tesco’s. All three have invested a lot of time, effort and education in bettering their Qualifications. At the end of the day it amounts to nothing if opportunities are not there. All of this invest in yourself sounds good but the reality is different.

[@brianstevenson9967]

Let’s not.

[@elliotpollard9083]

Lack of mobility is a huge issue outside of software jobs. Don't forget luck!

[@jasonburford2013]

Watched for 2 minutes. Will never them back

[@JamesShack]

Thanks for taking the extra minute to write a comment.

[@ciaoatutti11111111]

I was at 00:48 waiting for "art"... Need to take a break maybe :-)

[@JamesShack]

Been investing in art?!

[@ciaoatutti11111111]

Not really, I know art less than I know stocks, that means nothing at all. A bit insecure in throwing money for something that I do not understand.. But have to say it looks good... Too good?

[@nathanvanwie643]

Do you have any advice on dealing with clients/customers? I work back office and sometimes I need to talk ORL with clients and am struggling with that part. I know sales/client groups get paid more but I don’t know how to get comfortable with that. Maybe I don’t do it enough and I just haven’t felt motivated enough to push through that.

[@JamesShack]

I'm an extrovert and I'm "good" with people, but I still get awkward before meetings. I still get nervous. Especially if I've been on holiday or out of the game for some time. My first client meetings were petrifying, but looking back I can see how I'm now a totally different person. It's practice practice practice. Most people are awkward before or in social situations. Confidence comes with time.

[@jhi4216]

Hi James, thank for offering the webinar. I signed up, but the form mentioned that my email isn't shared with you, not sure if you need to edit the form so you have our email addresses recorded too?

[@JamesShack]

Cheers I'll take a look

[@JamesShack]

I've updated it now, you can re-sign here: forms.gle/YKsrheusRwfMbEh6A Thanks again!

[@cooper8t]

Don't think your previous videos take second place to this one. There are plenty of people who are employed or self employed that are more than happy with where they are, and your previous investing videos will make all the difference in their life.

[@JamesShack]

Thanks Daniel. I hope they can all be helpful for someone. This one I think is for those that are still working towards that goal.

[@cooper8t]

@@JamesShack Agreed, it is a video for a specific audience. I've signed up to your webinar, looking forward to it.

[@gaetanguimond1911]

Ho well, not all bad but far from complet. -Find a job you love, so you don't work an other day. -Government solide company ( the one that won't steal your money) pension plan is boring but for life. No need to wish to die young. Pay your debt: specially credit cards( if you ca't pay it all every month, credit card isn't for you. -Buy an affordable car (don't rent), make it inspected and invest 2-3 K in it for preventive maintenance. Renting a car makes you drive a car you can not afford, so you pay more. -Read expat millionaire or tony robins unshakable or ( very long version "money master the game) this is ETF base investment, yeah, I know, boaring, but nightmare free, and guaranty happy retirement. Stop buying everything you see, never loose money, it's not when you start investing, but for how many years you are in the market. From 20 Y old until 25 years after retirement (death)

[@shocks123]

Good advice but always be wary of story of the mexican fisherman and the investment banker

[@alangordon3283]

Time

[@JamesShack]

As your most valuable asset? Correct.

[@Aliassuk]

Who’s a clever cookie 🍪 again!

[@paulevans2246]

👍

[@mrbushpilot]

Nah mate investing in tesla is better than investing in myself. Elon, zach drew and the rest of the worlds best engineers are better than me. (lol)

[@mrbushpilot]

Semi joking*

[@LT99_]

When moon?

[@FlyingFun.]

Trouble is we simply cannot all be highly paid skilled people, we actually do need people to do the hard lie paid jobs and THAT is exactly why we are not taught this stuff in school. Other options are starting your own business rather than staying working for others, if you pick a useful skill that everyone needs you can make a lot of money. I remember when plumbers were in such demand that they were earning 100k upwards with not very much training. I fixed TV audio equipment for a living , my company paid me 8k per year, I started my.iwn business and worked less hard and was earning over 40k per year withing a few years, but that dried up and I bought a btl in cash that I'd saved up. But if I'd invested in index funds rather than just saving I'd be a lot better off now. 55yo now and thinking I need to work again but nothing too physical , maybe I should look at finance, I've watched enough KZbin videos on the subject lol.

[@patrickhd34]

Oh no, I'm doomed....if I am my most valuable asset...God help me 🤣