I think many 40-year-olds would prefer working during retirement age over saving for a 75-year retirement. Consider revising #19.
That's assuming you'll be employable long past the retirement age, which is by no means certain. Even if you are, chances are that the jobs you'll be able to get will be much worse paid and lower-status that what you did during your regular career -- and even if they're not so bad by some absolute standards, such a status hit is likely to lead to deep unhappiness.
Of course, this doesn't hold if future anti-aging medicine allows you to keep your physical and mental powers intact for a longer time. But the present trends are mainly towards prolonging deep old age in which your abilities are severely diminished.
Hey everyone,
I'd like too see if I can utilize the rational powers of Less Wrong
Currently I work full time. Am well paid for my age. Have approximately $20,000 AU in savings.
My spouse is in uni. Will finish this year and begin working next year. But currently I am supporting our household.
I have recently concluded that $20k is too much to be sitting idle, and the rational thing to do would be to find a way of putting those savings to work in some fashion. But how?
What would be the best way of utilizing these finances in terms of self-development and/or monetary return?
A few things to consider:
a) My skillset at the moment is limited, but I am eager to learn anything.
b) I only desire money in that it enables me to carry out many plans that would be difficult otherwise.
c) Relationships are far more important to me than money, however money is still pretty high up there.
I come to Less Wrong because it is the only community whose advice I would trust. The rest of the internet as many scammers, most friends and family feel threatened by the idea of investment/new things etc. Also they just aren't as rational as Less Wrong.
I would be so appreciative of any advice given.
Also anyone in the same boat?