Sybil wrote: ↑Thu May 23, 2019 12:06 am
Bubblegun wrote: ↑Wed May 22, 2019 1:12 am
I think I have fallen into that trap of trying to save so much with NISA, IDeCO, Japanese pension, UK pension, Property, and saving for kids education. etc etc. I think your spot on,it is important that we have a quality of life,(balance) when we will spend most of out life working, not in retirement.( sorry statistically speaking we are not going to live to 90+).
You should have a good quality of life in your retirement – which hopefully will be 30 years plus. Having a bit of spare cash will significantly improve your lifestyle. You will have a choice whether to continue working or not. And money to spend on treats etc…
Those without a financial back-up plan might be living in a hovel eating out of bins for their twilight years. The fear of poverty should motivate people to get control of their finances. Even saving 5% or 10% in an index tracker for a person’s working life should generate a reasonable sum.
Usually people who live pay check to pay check waste money. They buy stuff on credit cards and pay ridiculous fees. They use taxis when walking is quicker for example. So they get zero sympathy from me.
I agree with you Sybil.
People should be able to pack something away, and frankly i think every single company should also contribute to their pension pot instead of putting all the profits just into dividends.Which when you think about it is a actually a circle of money.
Pay out a dividend, or pay the workers pensions something,which again is pushed into the stocks and shares and dividends.
It is ironic that the thing we want people to do, eg spend and get credit, and pay ridiculous fees is what we tell them not to do, when we want them to save for their future. Sometimes i think the gov give people mixed messages, spend, save, get credit, even interest free credit. They get no sympathy from me when they are flying to Thailand, Philipinnes every single year, dodge their Japanese pension, and try to dodge their health insurance, and then go out every single weekend, and then plead poverty and how unfair they are being treated by the japanese system.They should have a percentage deducted from their wages every single month.Full time,Time part or casual.Hopefully the MY number system will be used to close these loops in the future.
As you said hopefully we will have some extra to enjoy a few things when we get older, maybe a holiday, a few trips, cinema, etc etc.. and hopefully it will be a long and healthy one.