Major career decisions, appreciating the present and not getting stumped by debt -- all on the Fool's discussion boards last week.
From time to time Fools like to reflect on what's happened over the years -- often using their registration on the site as a convenient starting point. To recount what's happened, take stock of things, and, perhaps, look to the future.
Such was the case this week with CalumoftheNorth, who recounted his "Foolish evolution"...
"It is 2003, I have just turned 18, I have just become a student and moved from our rural house in Cumbria to Edinburgh. It is December 2003, and as usual, it is cold outside the window of my small room. I am sitting in my room and for some reason I am looking at share results on Yahoo finance. I know that I have a stock market account from when I was 16. I know that people make money though the stock market. I am interested in finance, and how to make money through investing.
"I register an account with the Motley Fool. Before I had left for University I had read the Motley Fool UK Investment Guide several times. I had an older account at the Fool, but it is lost in the sands of time. I reregister, I am a Fool. I am CalumoftheNorth."
He goes on to narrate his career in corporate finance -- a demanding job, with insanely long hours -- which was paralleled by intense private study to become a Chartered Financial Analyst at the tender age of 23 (some twelve years younger than the average).
But his post was not just a reflection -- it was a request for the advice of his fellow Fools -- for, having resigned from his job in Corporate Finance, and still only 25, CalumoftheNorth wants to be an investment manager -- something that his stock-picking record (substantially beating the FTSE for the last six years straight) suggests he has a considerable talent for.
But you'll have to read the thread (and its continuation on another board) to see what advice he got.
The best time to live?
In another reflective post, Skegbyhouse considers "whether it is better to live now or during some bygone 'Golden Age'"...
On the plus side, as he writes,
"We got the 'good stuff' back then - the exciting developments in popular music and huge economic progress (we were the first generation to be able to afford private cars - and there was still room to drive them). Personal satisfaction is probably more linked to the rate of improvement of your situation than its absolute level - at least for youngsters. Most of my contemporaries would say we had a great time, even without the Internet, i-pods etc."
But to balance the 'good stuff', there was 'bad stuff', too:
Cancer, coronary disease and many other illnesses were simply death sentences. There wasn't much dementia because folk didn't live long enough for it to develop. Life expectancy has risen so quickly in recent years that pension schemes are failing. Is that a problem or a victory? Pensioners should welcome the financial problems resulting from not being dead.
So, what does he conclude, on balance? Was "then" better than "now"? Ah, you'll have to read his post to find out.
Debt and Cricket
Cricket's been very much in the news in the past days, but, sadly, for very much the wrong sort of reason.
Last week, however, Gostev1e, a long-time stalwart of our 'Dealing with Debt' board and passionate Test Cricket fan, drew an analogy between cricket and debt management.
On the basis that there are three elements to winning a Test match (taking wickets, scoring runs, and not running out of time in which to do the first two things), Gostev1e applied the same principles...
With debt, it could also be broken down into three elements.
The first is income. How much disposable income do you have to throw at your debts after all other monthly expenses are paid. Let’s call this the ‘runs’ element.
The second is interest. How much interest are you paying to your creditors. If they are bowling 29.9% APR doosras at you it’s going to be that much harder to score those runs.
The third one, which as with the Test match elements is the easiest to overlook, is time. A 25 year old with, say, £30,000 of debt is likely to have another 40 years of earning power in which to not only clear his debts but to build up a comfortable retirement pot. For a 55 year old with £30,000 of debt, the situation is entirely different.
But even with the best of strategies, whether it's cricket or debt-busting...
"... don’t forget that bad light and rain can interrupt play when you least expect it."
A frond farewell
Having spent much of the Bank Holiday weekend swimming through forests of seaweed whilst diving off the South Coast of Devon, I couldn't resist sharing sharedealer100's wonderfully dreadful pun.
Last week's round-up: 5 Funds For Income
