Here are some things i'm thinking carefully about at the moment
Combination of:
1) Really thinking about what i value in life (and its monetary cost)
2) Index funds and living cost efficiently (Learning the type of risk here is important - i.e. volatility risk)
This is nothing new to many, but to me it was a revelation. When you start plugging numbers into a calculator as opportunity costs of current purchasing decisions the numbers are incredible.
Ben felix - youtube (9/10)
Mr money mustache - blog (7/10) - imperfect but useful for putting things in context
The rates are debatable but often 7% yearly is quoted.
Example, instead of buying a 40,000 car, put it in stock market for 30 years and get just 6% return you've got 229,000. Thats a large percentage of retirement for simply deciding not to buy a new car
To me this seems like a cheat code for turning the difficulty down on life. We've got enough things to worry about other than personal finance.
Makes it clear why so much of the most read and quotes articles are of such bad quality. (There are still many good news outlets!, just large swathes of the largest ones are terrible)
Something like 70% of the uk new market is owned by 3 papers or something like that.
I'm sure you can quibble with some of the things ive written here but i feel the general direction holds.
Combination of: 1) Really thinking about what i value in life (and its monetary cost) 2) Index funds and living cost efficiently (Learning the type of risk here is important - i.e. volatility risk)
This is nothing new to many, but to me it was a revelation. When you start plugging numbers into a calculator as opportunity costs of current purchasing decisions the numbers are incredible. Ben felix - youtube (9/10) Mr money mustache - blog (7/10) - imperfect but useful for putting things in context
The rates are debatable but often 7% yearly is quoted. Example, instead of buying a 40,000 car, put it in stock market for 30 years and get just 6% return you've got 229,000. Thats a large percentage of retirement for simply deciding not to buy a new car
To me this seems like a cheat code for turning the difficulty down on life. We've got enough things to worry about other than personal finance.
I personally feel strongly about this, some might disagree: News. Have a look here: https://www.statista.com/statistics/529060/uk-newspaper-mark...
Makes it clear why so much of the most read and quotes articles are of such bad quality. (There are still many good news outlets!, just large swathes of the largest ones are terrible) Something like 70% of the uk new market is owned by 3 papers or something like that.
I'm sure you can quibble with some of the things ive written here but i feel the general direction holds.