Originally Posted by
Private jet
777boyo has outlined most of the salient points. What I would add is that investment is a game you start young, due to the major effect of compounding returns. If you are thinking that investment will save you and you are age 35 then you will be eventually disappointed. If you are age 45+ then forget it, you have missed the boat completely.
Hi, I agree with your first comment, but to say that you are out of the game if starting at 45 is not really true. You just have to commit more of your income to equity investment with no dumb risks or get rich quick schemes, don't hire an expensive financial guru or gold plated investment company, take every tax break your government offers and hope you don't retire in the year of the biggest financial crash since 1929. Oops, I nearly got it all correct, but even though I have suffered a big hit in the last few weeks, I still have enough to last me the next 30 years. And I started my pension saving seriously at 45.
Tips
Always have 3-5 years spending cash on deposit.
Don't waste your money on things that depreciate.
If you are a Captain, live on a FO's salary.
Oh, and don't get divorced.