As this thread started from my quote, maybe I explain a bit more what I meant. With the benefit received I mean not hot stock picking tips (gods, keep me away from them), but learning the steady wealth accumulation workflow, a system that works, with some optimization bits thrown in.
If we as a couple would continue managing our finances like we did before my financial satori moment - with me doing halfhearted systemless investment/trading, essentially playing with money, doing some pension fund buy-ins, my wife dropping unspent money into a savings account - working hard until we are 65 we would be doing great in the retirement! Getting all the pensions, we would probably have around 120k per year income and 0.5-1 million CHF in cash.
This is provided that we actually stayed employed, but there are good chances we will. I imagine an enormous stress at any difficult situation at work, not many options to take a break, stress about mortgage debt. This is a reality for a vast majority of people - if your money do not work for you, it’s you who has to work hard. Work, work, work.
By getting financially literate and start investing a major part of our assets, we are in a different situation now. Continuing working and saving and investing like we do now until 65 should bring us to 3-4 millions in assets and 90-100k CHF per year income - if we don’t do anything more than regularly contributing to the pension fund, otherwise it should look different.
But now we have more options. By letting our money work alongside, we don’t have to work as hard. We can’t stop working and live from our wealth, but there are many other things that we can do. We can work less starting now and work until we are 65 - and still be in an excellent financial situation. Working and saving and investing like now until we are 60 should bring us to Fat Coast Retirement - by working afterwards just to cover our expenses and not saving anything until we are 65 should bring us to 2-3 million in assets and the same 90-100k CHF per year in pension income. Finally, if we just let our current assets grow, not saving anything and working until we are 65 just to cover expenses, we should be more or less where we would be working hard and not investing.
This is what I mean with “a 7 digits life time benefit” that the knowledge that I obtained thanks to this community brings me/us.
This situation - that you are not the only one working for your future - also should reduce the stress related to employment. I can’t say that that I feel much less stressed about our future, but I do feel somewhat less stressed.
