Here’s a list of how things used to be:

1. Go to school, go to university, work hard, get a good job.
2. Buy a house, get a couple of cars, pay into your pension.
3. Go on holiday in the summer, get promotions.
4. Work at the same company until you retire, at which point the company will pay you a proportion of your final salary every year (rising in line with inflation) until you die.
5. Downsize your house as it appreciated between five and ten times the amount you paid for it during your working life.
6. Spend the money from the house sale on life’s little luxuries, all bills are covered by the pension.

This is more or less how things have worked out for the middle class section of the baby boomer generation.

Now here’s a list of how things will be for people who are currently in their twenties:

1. Go to school, go to university, work hard, get into a load of debt, get a job you could have got without going to university.
2. Buy a house using a deposit from the bank of Mum and Dad or Help to Buy, lease a couple of cars, pay into your pension.
3. Go on multiple holidays you can’t really afford each year, miss out on promotions.
4. Move job.
5. Move job.
6. Made redundant.
7. Move job.
8. Buy that slightly bigger house so you can start a family.
9. Move job.
10. Spend a large proportion of your salary on childcare, commuting costs, and the mortgage.
11. Made redundant.
12. Move job.
13. Move job.
14. Don’t focus any attention on investing, arguing that it’s too complicated and that you don’t have any spare money (all whilst running two cars at £10-15k a year all in, and spending £5k on a summer holiday).
15. Work until you’re 80 because you kept extending the mortgage term to keep the monthly payment the same (as you needed to pay to put the kids through university, to give them a deposit to buy their first house, plus pay for their wedding).
16. Try to retire at 80 but realise your pension will only pay you enough to cover your food and electricity each month.
17. Keep working or hope you can sell the house to 40-somethings who can afford it (which is unlikely due to the current valuation).

Bit more complicated these days isn’t it?

Now obviously I’ve simplified this a lot, and for all we know electricity will be free and pension funds will find a way to deliver 10% a year returns to everyone who is opted in.

It just all sounds a bit risky to me, and I have zero intention of working for someone else until I’m 80.

All I hope is that the Guerrilla Investors readers haven’t got their heads in the sand, and are already investing any spare money they have in order to take control of their own financial futures.

And that they have a long-term plan for how to achieve their objectives, and aren’t just leaving it to chance.

If so then this website is doing what it set out to do.

All the best,

Stephen Wallis

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