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To retire "in comfort", fine. What about your children?


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Your children about 20 years old?


Talk to them like a dutch uncle: Start a (monthly?) retirement savings plan now. "Time" is the greatest wealth builder. Speak to them softly: "To start a retirement plan at the age of 55 is pointless". By convincing them to act accordingly, you may have given them the greatest gift you could ever have given them.


Especially as the state based "retirement-concepts" would have run it's course, due to "underfunding".

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Retirement 'savings' plan ... in Thailand, that's some funny ass sh!t right there.

 

Teach them how to invest, and if Thailand, here's a hint ... 

... Thai Land :coffee1:

 

One thing that is guaranteed to appreciate, as they're not making any more.   55 certainly isn't too late to start, depending how long one plans on living.

 

Wife & myself, investing in land, and about 15 yrs ago, making me 55 +/- back then

 

฿720k turned into ฿3M in less than 10 yrs

฿1.036M recently, has turned into ฿2.4M, last 3 ish yrs, 

 

Of course, it's always better to start earlier.  Really doesn't take much to get started, just live within your means, control & manage your finance, and build equity ASAP, with all your spare money, instead of trying to impress people who don't give a rat's ass about you.

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1 hour ago, swissie said:

Your children about 20 years old?


Talk to them like a dutch uncle: Start a (monthly?) retirement savings plan now. "Time" is the greatest wealth builder. Speak to them softly: "To start a retirement plan at the age of 55 is pointless". By convincing them to act accordingly, you may have given them the greatest gift you could ever have given them.


Especially as the state based "retirement-concepts" would have run it's course, due to "underfunding".

 

Good advice to get started early.

 

You could just invest in an index linked fund for them, with 100 USD a month they'd be guaranteed to be millionaires by retirement age. Provided there is no catastrophic event in the markets.

 

Or, you could adopt the Kyoasaki method like KhunLa and buy land and hope it appreciates.

 

Shares and land are the two classic options.

 

I will teach them to trade FOREX, as I suspect the returns would outstrip land and index linked funds, if done right.

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On 10/2/2024 at 6:38 PM, Cameroni said:

 

Good advice to get started early.

 

You could just invest in an index linked fund for them, with 100 USD a month they'd be guaranteed to be millionaires by retirement age. Provided there is no catastrophic event in the markets.

 

Or, you could adopt the Kyoasaki method like KhunLa and buy land and hope it appreciates.

 

Shares and land are the two classic options.

 

I will teach them to trade FOREX, as I suspect the returns would outstrip land and index linked funds, if done right.

I started investing/trading when I was 23 years old. I found FOREX trading the hardest.


Trading by fundamentals: Tons of data must be interpreted. (Including the guesswork what central banks want to do with their currency).
Trading by "technicals": It seems currencies do not "obey" standart patterns. In no trading arena have I discovered more Bull or Bear traps.


Looking back, Real Estate investements in good locations would have yielded more than anything else. Able to apply "leaverage" at it's finest. As long as one is able to pay the mortgage, even in a sellers market, the Banks will leave you alone.


Very much opposed to your stock/commodities broker, serving you a "margin call" if things go south. Therefore, "leverage" in R/E makes a lot of sense. "Leaverage" in stocks/commodities? = Handle with care.

 

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1 minute ago, swissie said:

I started investing/trading when I was 23 years old. I found FOREX trading the hardest.


Trading by fundamentals: Tons of data must be interpreted. (Including the guesswork what central banks want to do with their currency).
Trading by "technicals": It seems currencies do not "obey" standart patterns. In no trading arena have I discovered more Bull or Bear traps.


Looking back, Real Estate investements in good locations would have yielded more than anything else. Able to apply "leaverage" at it's finest. As long as one is able to pay the mortgage, even in a sellers market, the Banks will leave you alone.


Very much opposed to your stock/commodities broker, serving you a "margin call" if things go south. Therefore, "leverage" in R/E makes a lot of sense. "Leaverage" in stocks/commodities? = Handle with care.

 

Correction: It must read "even in a buyers market".

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On 10/3/2024 at 5:38 AM, Cameroni said:

Good advice to get started early.

LOL. I earned 10 quid a week when I started, equivalent to $20. Board was 4 quid, so that left me 6 quid to live on. Had I gone without any of the pleasures of life, I might have saved 3 quid a week.

How much would my $312 have become if I "invested" it back then?

 

While youths earn more in devalued money today, the same will apply to them in 50 years time.

The best investment I made was in buying a house and land- it more than doubled in value in 5 years, but the worst thing I ever did was being with a bad woman who got it all. She did fine for sod all input.

 

So, my advice is forget about the cunning investment strategies devised by bankers to part us from as much of our money as they can, and buy property, but never never never get involved with a woman unless with an iron clad pre nup that leaves them with none of it when the divorce happens.

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