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19-12-2014, 11:37 PM
I know I am moving off tangent from this topic, but among my facebook friends are two retirees who are ex-civil servants whom I had worked with early on in my career. Not high level level guys, just normal "farmer" degree holders who worked through the system.
One has relocated to Thailand, while the other is happily retired with grandkids and manages his portfolio (he was one of my early shifus who pointed me to value investing). While astute planning (financial and family) has enabled them to enjoy their retirements, I feel that their barriers of entry were significantly lower when they started working in the 1970s/80s.
Having a degree was a considerable leg up in that era, costs were generally low, and certainly they didn't sent their kids to Montessori schools back in the day. While I agree that the general principles of prudence, careful planning and investment is still relevant, I can't help but feel that the bar are loaded against us nowadays.
One has relocated to Thailand, while the other is happily retired with grandkids and manages his portfolio (he was one of my early shifus who pointed me to value investing). While astute planning (financial and family) has enabled them to enjoy their retirements, I feel that their barriers of entry were significantly lower when they started working in the 1970s/80s.
Having a degree was a considerable leg up in that era, costs were generally low, and certainly they didn't sent their kids to Montessori schools back in the day. While I agree that the general principles of prudence, careful planning and investment is still relevant, I can't help but feel that the bar are loaded against us nowadays.
You can count on the greed of man for the next recession to happen.