AIBU that there isn’t “one size fits all” financial advice?

[Stayinganontoday]

In one of our WhatsApp groups somebody was saying that with a salary of £100k people
should be able to invest and even buy properties.

I said that investing maybe, but extra properties was beyond unlikely , especially if London based.

anywho, then somebody else said that it was possible as long as you were ok to give up
certain things (or live very frugally).

I said that well, as long as you’re paying into your pension, and you’re getting into no extra debt, realistically there was no right nor wrong answer, and that it was all down to preferences in life.

Sounds like someone in your group fancies themselves as a property investor. Did they take a Youtube seminar? 🤭 I’d actually hate all the bother of dealing with a rental property, would much rather a S+S ISA and mine seems to be outperforming the property market atm so there’s that.

Obviously there’s no one size fits all approach.

Oh yes 100% I also hated having a rental property, not worth it IMO

I have a portfolio over 1m+ by investing a bit every month since I was 21. My salary has never been anywhere close to 100k

Between us my wife and I have pension pots of over £1m, ISA around £1.5. plus other savings. We simply managed our spending and put money away. Granted we didn't have a mortgage, but I'd give every penny away to have 5 minutes more with my parents who were both dead by the time I was 24.

We still have bought a new car every 18 months to 3 years for the last 35 years... functional rather than flash. We always have gone on at least one foreign holiday a year to 4 and 5 star hotels. I have spent 15 years as a gardener so summer holidays were out but in the other 20 or so years we had at least 3 holidays a year often more

You have to find an financial advisor you trust, never panic, save as much as possible and property is increasingly a no no due to the government seeing Mumsnet mindset of landlords bad renters good as gospel