Long-term financial considerations of Longevity that affect healthspan

[LaraPo]

@Paul

my employees have no idea of me real age and peg me as someone much younger.

Younger looks and behavior work until they (those who hire) read your CV and figure out how old you really are and then their acceptance of you changes dramatically. To start a business is the only way, at least you are your own boss. Thinking about it every day.

[DeStrider]

Again, like with health, the answer is to start early. If you have someone in their first few years of work, they should save every penny possible. If they live at home, eat at home, and drive a cheap car, and their saved money is invested into the stock market, after about 5 years, they have the seed money to fund a limitless retirement.

This is what many millionaires have done. Or go out and start a successful business. It’s also what most people do in Hong Kong as housing is astronomically expensive (You need USD 500,000 to buy a crappy 300 sq. ft. apartment here).

Once you have $2 million invested well, it provides what you need and more. Then it just snowballs from there.

[AnUser]

I suspect there’s very few who learned about investing in low cost index funds (w/ risk factors) 30 yrs ago, which is what the science shows is the best, adjusted for e.g risk tolerance, and even today there’s lots of grifters and misinformation just like in the health field.

[Beth]

THIS!

Most people with real wealth never even earned that much, but they just saved and were frugal. ‘The millionaire next door’.

I remember when I first started cold calling to sell bonds (a million years ago), being young and naive, I went after the ‘nicest’ neighborhoods, until a senior broker stopped me. They said it’s a waste of time. All those people spent all their money on nice houses and fancy cars and have no money in the bank, you’ll do better calling xyz neighborhood… and it was remarkable to see the difference, While those people appeared to be less successful, they were sitting on mountains of cash. It was such a valuable lesson for me.

If kids were only taught about compounded interest in school!!!

My single most effective presentation for young adults was showing what x amount invested into an ira would do if they started now vs x number of years later. Jaws would drop and they’d send me $200 here and there to invest for them, which seemed like all the money in the world to them. Getting a million from another person was less rewarding. I bet those kids can financially make it to 100!

[RapAdmin]

@AnUser

there’s very few who learned about investing in low cost index funds (w/ risk factors) 30 yrs ago, which is what the science shows is the bes

Vanguard index funds are great

[LaraPo]

Which ones are the best? What about VTI?

[AnUser]

See this website:

Bogleheads