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Pete's Blog

There is so much doom and gloom going on that I have to inform you all that I have made a conscious decision a couple of weeks ago to stop listening to the news...
 
Now I have to admit that I haven’t managed this 100% yet, but I have certainly restricted my time listening to it to a minimum and feel much happier for it! Whilst I appreciate that this might make me a lot less interesting as a person being clued up as I am (or like to think I am) about most things, it certainly is a step in the right direction so that I have less to worry about.

I realised when I thought about it that I was listening to the news in the morning whilst getting ready for work, on the radio on the way to work, somebody would tell me about the news when I got into work, I would catch the early evening news when I got home from work and then watch news at ten before going to bed! Now with 95% of news being ‘bad news’ I figured that this must be the reason why I was becoming such a miserable git! So I have done something about it and I will let you know if it works, but seriously, I find myself feeling better for it already and now use the time for other things. I don’t suppose that I will be able to cut it out entirely though, after all it would be nice to know how much time I had got left before a rocket or something landed on us from Korea, as I wouldn’t like to be surprised by that one! Been thinking though what I would do with the time I had left? Possibly brush up on my Spanish, take the dogs for a walk or even take the wife for a walk... be nice for her to get out.
 
You'll have heard the saying many times I am sure, that ‘life is just too short! At 60, NOW I understand this? A bit late or ‘tarde’ in Spanish! but funny I was watching Louis Theroux program/investigation on the porn industry last night, instead of the news. See not watching the news is already proving advantageous and it did make me feel happier for some reason, anyway, let’s not digress! During the program there was this old over the top male porn star who was being forced, yes forced! What’s more, being paid to have sex with a 23-year-old, anyway that’s not the point either. The old porn star was trying to offer her some of his worldly wisdom and explain to her (I think this was after the event) how time flies and how life is too short, and why she needs to make the most of her youth, she laughed, pretended to look interested as if she understood what he was talking about laughed again and walked out the door.
 
He turned and smiled at the camera with a shrug
‘the youth of today, what can I tell you’. I think many people hear this but truly don’t really get it, especially not when you are younger...

Start planning for retirement or for when you don’t want to work anymore! Or can’t work anymore. Tell that to someone below say 30 and they laugh at you. Not sure who said it, I think it might have been Oscar Wilde - Youth is wasted on the young... how true that one is.
 
Anyway, what’s my point in telling you all this... I haven’t got one really! Just watching him taking time out, wasting his time, trying to explain what life is really all about to a 23-year-old in a serious moment bought a smile to my face and resonated with me having brought up six kids.
 
For what it’s worth and now understanding at 60 a little of what life is all about, if anyone under 30 or I suppose any age really is taking time out to read any of this, then my advice is to start planning because I can from experience tell you that people don’t plan to fail, they fail to plan.
 
Finally let’s put this into some kind of perspective shall we and try not to get too shocked here when I point this out, but
if you would like to retire in say 15 years and you are paid monthly then you only have 180 pay days left, next month you only have 179! That is the time you have left to not only pay your way today but to save up enough money to pay for the last potentially 30 years of your life with no income. Hmm thought provoking, isn’t it?
 

From my experience of over 30 years as a financial advisor I can tell you that most people don’t plan, don’t see the future, and more importantly make the biggest mistake of not ‘paying themselves first’. Funny if you think about it, you get paid at the end of the month, pay everything out and then there is nothing left for you. Wow, really? So the advice of the day from an old man who is coming back as a porn star in his next life is - create a bill for yourself and pay yourself first whether that’s making a saving each month or buying a house, BUT make a plan!
 
Keep you updated!
 
Regards,

 

Peter Mitchell

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