Simon Gladding DipPFS

Wisdom from the world's best Financial Planners | Helping you plan for financial independence, security and well-being | Financial Coach

[Simon Gladding DipPFS @simonjgladding]

I'm restarting this account to help people with their finances:

Specifically helping you to:
• plan for financial freedom
• feel prepared for possible shocks
• feel more confident about your money & future

Focusing on issues/scenarios professionals in their 40s might face.

[Simon Gladding DipPFS @simonjgladding]

@sabrunsmiles @BBCRadio2 @vernonkay @BBCCiN @SarahSuch Great tips Sabrina.

"Low mood, eat food."

This can bring you back from what feels like the point of despair in the moment.

[Simon Gladding DipPFS @simonjgladding]

@codek1 @Connorfoundered Thanks lots of interesting combinations. Solo travel does stand out. FI is all about the adventure for me so makes sense

[Simon Gladding DipPFS @simonjgladding]

4 reasons you shouldn't pay into your pension:

1. You want to pay more tax
2. You never want to stop working
3. You don't want free money from your employer
4. You don't care about the older person you will likely become

What did I miss?

[Simon Gladding DipPFS @simonjgladding]

@slow_is_better I used to, but it helped me to reframe it to choosing whether or not to help someone.

If you can help someone and you don't ask for the sale, you are refusing to help them.

[Simon Gladding DipPFS @simonjgladding]

@mike_hdn I like how it helps with being present/ living in the moment.

I also like being consistent with exercising - progress isn't always linear, but sometimes when you look back you really notice how far you've come.

[Simon Gladding DipPFS @simonjgladding]

Financial aims don't have to focus on experiences or savings goals.

They could focus on changing feelings.

For example:

From anxiety towards financial confidence.
From feeling worried to feeling secure.
From clueless to educated.

Your aims really are up to you.

[Simon Gladding DipPFS @simonjgladding]

Psychology of money author Morgan Housel's investing strategy relies on 3 things:

Two he controls:

✅ A high savings rate
✅ Patience

One he doesn't:

The value that the global economy will create over the next several decades.

[Simon Gladding DipPFS @simonjgladding]

2 weeks ago I ran my 3rd ultra.

What did I learn?

I spent 4 of 5 hours debating:

Am I working hard enough?
Am I keeping enough in reserve?

It struck me this tension is always there:

Striving vs enjoyment
Future self vs current self
Time for me vs time for family

Etc.

[Simon Gladding DipPFS @simonjgladding]

That's it on how Morgan Housel & family manage their money.

If you enjoyed this thread:

1. Follow me @simonjgladding for more threads on how financial experts invest their own money.
2. RT the tweet below to share this thread with your audience

[Simon Gladding DipPFS @simonjgladding]

Morgan Housel's book Psychology of Money has sold over 3 million copies.

It's full of wisdom on wealth & happiness.

But how does he translate that wisdom into action with to his own money?

Here's how @morganhousel manages his money:

[Simon Gladding DipPFS @simonjgladding]

Morgan Housel's book Psychology of Money has sold over 3 million copies.

It's full of wisdom on wealth & happiness.

But how does he translate that wisdom into action with to his own money?

Here's how @morganhousel manages his money:

[Simon Gladding DipPFS @simonjgladding]

TL: DR

How Morgan Housel & family manage their money:

1. Independence is the overriding goal
2. High savings rate, no lifestyle creep
3. No mortgage = more independence
4. Invest in low-cost index funds
5. Keep 20% of wealth in cash

[Simon Gladding DipPFS @simonjgladding]

Will more financial education make you obsessed with:

● saving
● scrimping
● deferring gratification?

Or will it make you:

- spend consciously & live your rich life (Ramit Sethi)
- aware of the link between spending & your time (Vicky Robin)
- balance future & now?

[Simon Gladding DipPFS @simonjgladding]

That's it on paying off credit cards.

If you enjoyed this thread:

1. Follow me @simonjgladding for more on increasing your financial fitness
2. RT the tweet below to share this thread with your audience

[Simon Gladding DipPFS @simonjgladding]

Financial fitness requirement:

"I have no credit card debt"

You probably know this.

Knowing and doing aren't the same thing.

Here's why you should avoid credit card debt (and how to reduce its negative impact if you already have it):

[Simon Gladding DipPFS @simonjgladding]

Financial fitness requirement:

"I have no credit card debt"

You probably know this.

Knowing and doing aren't the same thing.

Here's why you should avoid credit card debt (and how to reduce its negative impact if you already have it):

[Simon Gladding DipPFS @simonjgladding]

If you have multiple credit card balances, make a list.

Provider - balance - interest rate.

Then use debt repayment calculators to make a plan.

Some people pay the most expensive first, some the smallest amount.

Choose whichever motivates you to act.