If you don’t worry about it, you should. No matter how old you are, age will catch up with you and retirement will come. Our grandparents were lucky, the order of the day, allowed children to be one’s retirement plan. My maternal grandfather had 11 wives and 77 children, I sincerely hope that this retirement plan worked for him, but that’s not what I heard via the grapevine.
Remember, when your parents used to tell you that you shouldn't borrow other people's things? They were preparing you for the big bad world that gives a penalty for any irresponsible money behaviour. The big bad world loves the idea of you borrowing money from it, but there is a price to pay. When parents were telling you about borrowing, you thought it was about food, clothes, shoes, books but no, it was about their hard earned life lessons but as a child, you couldn't trust them. They were not wrong, debt comes in two forms.
There is something intrinsically wrong with rules, they beg to be broken. The moment one hears the word "rules", the next thing crossing their mind is, "How can I break them". The human mind is not designed to be confined by a set of rules, it needs to be free to explore by itself and decide what works for it, one thing it fails to process is that one lifetime is too short to go through all the experiences by one's self and decide what works and what doesn't. Seriously, if you are someone who really wants to get wealthy, how many times have you heard the rule above. I am sure a billion times right. But why aren't you wealth? Because you break this rule over and over again
Without knowing much about me, it goes without saying that I believe in value investing, the moment I say Warren Buffet. I got to know about Warren Buffet at a time when I was a bit lost and from that day, there have been many sleepless nights of studying towards the Chartered Financial Designation. He [...]