Alright, here's a pretty standard run-of-the-mill take that's completeeeely insane, borderline immoral.
It's a violation of fiduciary duties to your client by recommending things like this that lock up funds for thirty years! with the hopes of ~5% returns.
Wealth manager Tideway Wealth calculates that £180,000 added to your fund in your early 30s, which might cost only £100,000 after tax relief, could add £580,000 in today’s money to your fund by the time you hit your early 60s. deferring until a time in the future when your pay is much higher is also not the most sensible tactic. If you want to turbocharge your pension, the time to act is now.
lol, 4-5x the money in thirty years! pathetic.
You could have just bought bitcoin...
(OK fine, Mr. Schiff, gold!)
By the author's own account (based on pension firms or wealth manager calculations), normal people earning normal wages don't have a chance in hell to save enough to comfortably retire at decent ages.
Meaning: Hail Mary's are the only things left.
Luckily, bitcoin is a pretty sure thing compared to where it was/seemed like only a few years ago.
I have confessed before that I sort of follow this advice... for reasons outlined here (#1081555); but I don't think I'm representative! I'm balls deep into bitcoin already, incomes and assets directly tied to the success of this monetary revolution. Most people reading Ms. O'Neill's column are NOT in that situation.
Rather: they are painfully underallocated to gold and bitcoin.
Silly:
with just under 10 weeks to go until Christmas, Gen Z know what to say when they get asked what present they’d like under the tree: a slug of money in their pension.
Tradfi people really are out of touch with reality. It's like the truth is staring them in the face, yet they can't make themselves see anything else than what they've always seen.
The edgiest thing Ms. O'Neill comes up with is the spooky conclusion that thirty-year-olds should be "all-in equities." Yeah, no shit.
...or just opt out and stack sats.