Off Topic ROD's answer to the meaning of life

ROD - I'm a football nut, but this isn't about football. I'm only offering this as a discussion topic in these quiet football times. Interesting about the meaning of life question posed on another thread and your answer about enjoying it. If we take health issues out of it which can have massive effects on that, a lot of "enjoying it" is down to people's attitude toward money.

At one end of the spectrum there are those who see having a lot of it equating to power and influence - there's one in the White House right now. At the other end of the scale there are those to whom having some money besides them means security and they see happiness (enjoyment) as just that. That's fine but the problem for many in that category is they often don't know how to enjoy life and can't rationalise when enough is enough.

I have one of those closer to home. A family member has a lot of money stashed away which in all fairness has taken them their working life to amass. It sits in various investment ISA's and company pension plans converted into SIPP's - the trouble is it's very existance has become sacrosanct. Drawing down money other than living expenses for self indulgence like buying a new car is a no no. I help her with the investments and they're accruing very nicely, but when I ask her what she is going to do with it all, theres a shrug of the shoulders and the "rainy day" syndrome is mentioned yet again.

She's 65 now and may well have more than another 20 good years to go, but how much money do you need when you're past 85? I've calculated and projected the current average rate of growth compounded, and shown her despite indexing her regular income drawdowns, she'll be well past the double millionaire status in cash by then. Maybe good news for someone to whom she might leave it, but she has her own home and no children to consider - if she had they should be able to earn their own crust anyway. It'll probably end up with the RSPCA - nothing wrong with that but hell's bells, there's more to life than leaving your money to some organisation.

Many others in the middle ground with a few spare bob including me see disposable money as something to use and just a tool towards "enjoying it". I'm not talking about blowing the lot on extravagant purchases for the sake of it. Just getting some enjoyment from what that earned money can do for you (and others) rather than watching it mount up over the months/years to the extent that you'll never use it - and then you bloody die.

Before anyone starts, of course money isn't everything - no amount can guarantee you or your family good health for instance - but life is for living, money's for using. We'll all die soon enough.

 

I go by the credo that life is not a rehearsal so I believe that you should spend your money to do the things you want before the curtain comes down on the show. Ann and I are certainly not wealthy despite working hard for the duration of our working lives and now in our retirement we have stepped outside the box (no, not that box) and have travelled extensively for the last 10 years, including nine winters in the Canaries. Currently we are preparing for a 7 week cruise from Tillbury to Sydney and look forward to the bucket list stops along the way across the Atlantic and Pacific Oceans and through the Panama Canal and crossing the International Dateline and Equator.

Fortunately my medical issues, although pain is the big problem, do not stand in my way and despite constant efforts to ruin my days I intend to enjoy what comes my way on any given day. First order of the day when we finally land in Oz is to do the Sydney Harbour Bridge walk - has anyone on this site done it? I never turn down the opportunity to experience new things and the people who sit on their money have their own valid reasons for doing so, but my advice to them is to go and see some of the world and perhaps you may come to the conclusion that the life you complain about is someone else's dream.

 

Mike - funnily enough, my wife's name is also Ann and we're certainly not wealthy but have a lot more than we need - if that make's sense.

Quite few years back I decided we had to "do" Concorde for the Millenium. It was just before the tragic Paris crash about 6 months later, but that was a thrill of a lifetime. We flew out from Heathrow over the Bay of Biscay and hit mach 2 for about half an hour before doubling back to land in Paris. There was a always a 3rd qualified Concorde pilot on board as a back up and he was giving a commentray on what was happening up front - absolutely bloody brilliant.

Some of the things he told us like because it was a relatively short trip rather than trans atlantic, they'd only loaded 90 tons of fuel - 90 boody tons - I couldn't believe it! He said watch out for the take off because we were pretty underweight. He said after lift off we'd go straight up at an almost vertical angle and nothing outside a military jet fighter could out do that - truly amazing.

I've always been one to say JDI - just do it. Or as Tom Walkinshaw used to have a sign hung in his racing workshop saying - JFDI. I'll let you work out what the F stood for.

 

this is a real demon! know it all to well ... problem is having the bottle to "cash in" I have managed to twice in 20 years... shares at £1.50p or less and sold when £21... Autonomy! £2000 invested was a good return!.. for the last 5 -6 years always missed the boat! WAITED TO GO A FEW PENCE MORE THEN THEY SLIP BACK AND BACK AND BACK
pop off tomorrow and family will share in excess of £500k like you said... what do I need that much for? not many years left... ! ereally should cash in but in the back of the mind is always that shrug of the shoulders ... maybe I should stop work, part time that is it would make me spend it!

BTW rod's answer is the first blown out of the water as it is the most common retort, and not really applicable to the Q... the question is "what is the meaning of life"

 

Why is it blown out of the water?
Is it because people who like you believe you are right all the time?
Is it because you think it’s got to be mathematically answered?
Or is it because it can’t possibly be such a simple answer?

It may not be the correct answer but it’s what I believe it is. And if correct or not I don’t care as long as I believe it then it won’t confuse me or take up much of my time leading to me having more time to enjoy life.

 

none of the above rod
you gave what life enables you to do, and the majority of the planet do so in their way ... one life live it, I certainly do and will do so till the last breath .....
when I posed the Q I had a little bet with myself your answer would be along the lines of enjoying.... there are umpteen answers given, by well respected brains, but none agree with theories put forward and none really believe in their own answers! so none so far have qualified it, it is like the £millions on offer to who can "invent perpetual motion" or x in the box or a host of other oddities, the money just keeps getting bigger .
In a perverse sort of way you could say that's perpetual motion as it will never stop growing in value? but of course it doesn't generate a physical reward ...like say powering a car /motor .....
I just love the way you jump off your high horse with comments always tainted by a little or great sarcasm ........"wit flattery lowest etc" comes to mind keep it up

 

I realise this thread is probably of little interest at the moment to the younger members of the forum, but believe me, eventually it will.

If you can avoid the bickering about the academics and discuss the choices that face many right now and even those are nowhere near retirement at the moment, we could have some interesting stuff on here.

JGF2 - I'd stay away from individual company share speculation unless it's just for fun if I were you. I don't bother any more after a personal friend who was a sign writer on my company vehicles before computer cut vinyl graphics took over, lost a bloody shed load doing it. You have to be extremely knowledgable (or very lucky) to out perform the professional fund managers running the various unit trusts.

Stick with the proven performance of funds on offer and combine it with some bonds and REIT's to get a portfolio that suits your appetite for risk. Equities might frighten the more conservative, but for the last 8 or 9 years, short dated bonds have been flat but relatively secure, whilst holding cash a complete waste of time.

It's all about choice how you make your money work for you, and a completely different choice as to what you then want to do with it.

 

I split my holdings into 3 categories
total speculation...........20% holding
middle block aim is to get a year on year gain of 5%[happy with 3%!] some may pay a divi ................ 40%
blue chip top 100, divis shares .............paying divi's don't always! ........................................................40%
I have shares dragging the portfolio down 1 in first group, 1 in second group 3 in top group ... incl Tesco and BT!
running at a 19% LOSS due mostly to the one in first group. losing 85% of its value, but it is a bio company picking up patents and licences around the globe and has 2 products in latter stages of tests/ licence grants ... all so far having been good!

 

JGF2 - you do it your way pal, but you can do better than that with your dosh. Unless you specifically target them, dividends are just a bonus - growth is the prime mover.

For instance I have an investment ISA I set up over a several years and allowed to accumulate. It got to a value (I wont tell you how much) back in 2012 that I thought, hang on a minute - where's all this going? I decided to freeze the value as it was then and take an annual tax free bonus on its' anniversary every year. It only has 4 components each of which is a managed fund.

Global Core Equity - 50%
Global Small Company Fund - 20%
Emerging Markets Core Equity - 20%
Global REIT - 10%

The five annual returns I've had since then have been 17%, 4%, 5%, 25%, 12% - an average of 12.6 % per annum - that's far and away better than you're achieving and I don't have to touch anything. The various fund managers do that that and my online trading platform pays me out like clockwork. I get a nice lump and I bloody spend it.

I have SIPP's and a Section 32 Buy Out Bond from my own old company scheme for regular monthly income, but if I had my way again, sensible Investment ISA's are the way forward, particularly now they've raised the limit and you can bung in £20K a year - if you have it of course.

No Revenue involvment to consider - every thing you draw down is totally tax free.

 

Nothing to do with being richer than anybody banksy, and I'm certainly not rich. Just having a chat with JGF2 as he started talking about his methods of investing.

In fact, that was nothing to do with the OP or the purpose of the thread. It just sought opinions regarding attitudes towards the use of their money however large or small - how about you?

 

Had a quick scoot over dividends received and taking out the "gambled on 1p shares" leaving 10, adding up dividends received including one off interims and applying as in income from the original cost it is not to bad at 7.91%. 2 companies stopped giving but have made up in increased price of over 15% and 21%
Yes the basis (10 shares) for gain also needs to increase in value and over the past 5 years on these 10 it has increased by 1.6% overall. individually the worst is - 35.4% .... a blue chip and best is 66.2% in top 250 shares.
of course it is not a level playing field, each share has a different outlay ....eg one might have been £9000 another £7000 etc ... not reflective of what was spent/invested!

 

actually every now and again you chat about things etc etc and up pops a "comment in context that takes a front seat or jolts you out off a rut" one such is SIPPS, my SB account keeps pasting eligible for SIPPS blah blah ................ Think I might start a conversion into that!

 

All a bit much for me tracking individual company shares. Dividends earned on the investments within my managed funds just get paid into each fund as cash. I don't bother how much they are idividually, I just use the cash balance as it increases to re-invest in the fund. It's the overall growth of the funds that interests me.

If you get a buzz from purchasing individual company shares - it's much like gambling - then the best of luck to you.

I've come to realise that there are professional people out there who know a lot more than me about this game. For a very small annual management fee - something like 0.3% - a good online trading platform will organise your portfolio and do all the work. Buying is at a very minimal cost and selling is free. Cash drawdowns are also free of charge.

To each his own I say - if it works for you then great.

 

I find talking about personal finances vulgar to be honest.

Many people don't have any spare cash for investments etc!

 

That's a valid opinion - best you don't read or comment on the thread then as you're so outraged.

Nobody here is talking about substantial personal wealth and climbing over those that haven't for personal gain.

Having worked all my life I have been fortunate enough to secure my financial future There are many who for various reasons haven't managed that. That is a real shame but it reflects no shame on those that have.

 

I am neither outraged or reflecting shame on anyone.

I just find it vulgar!

 

Like I said - easy solution, the answer is in your own hands. Don't read it.

 

you will when you retire !
no mortgage ...no NI ... PENSION LUMP SUM AS A GOOD KICK OFF peeps under 50 now should easily be able to pocket £50-60 k from their pot .

lump sum from one pension drawn early, carry on working take up all back slack allowances and ...

 

Lend us £38