This week I have been working in the desert in Southern Tunisia. I am located in a military zone 30km away from Libya and roughly the same from Algeria. Not the nicest sandwich I have been involved in!
If I can take anything from 2019, it is the fact that I will literally go anywhere to get my house in order financially. As usual, I have been reading my books and have been trying to improve my financial literacy.
Although the location isn’t the best, the food is horrendous and I am in a fucking desert in the run up to Christmas, the lads are all sound and this is making the job that much more bearable.
One of the Tiffy’s was talking to me in the cabin (our little hideout for coffee and to look busy) about stocks and shares. Like me he is splitting his investments between his ISA and his SIPP. And like me, is investing roughly £1000 a month.
We get on to single shares, and as usual, we talk about Sirius Minerals. After being burned in the past, we both have the view that single shares are not the way to go. That being said, at 3p a share (Sirius Minerals) my inner gambler is screaming at me to add £1000 to the £500 I put in during the summer. For now, I am remaining disciplined and sticking with my Life Strategy 80/20 fund.
The following day the Tiffy is back up the road to Tunis on his way home for Christmas. I am now talking stocks and shares again with the 3 electrical lads I am working with. Only this time, they seem to prefer the single share option.
We exchange a few stories about money we have lost on single shares (and pretty much anything we touch) and it is clear that we have all been guilty of gambling our money away.
I try and explain about having a fund in an ISA or a SIPP. I even show them my compound interest calculator and go into how much they can make with a few hundred a month. They will get 7-8% if they think long term. It even sounds boring to me but fuck it, I have definitely had my fill of gambling my money away.
The other three have a different view and are not buying into my monotone attempt at getting them to invest for the long term.
One of them is going to invest £1000 a month into Sirius while he is on this current job. The other is looking at getting a loan to pay his tax bill as he had too many ‘class A’ drugs this year and wasn’t really watching his spending. And the other didn’t really get involved with the money talk and was more interested in stories about shagging and taking too many ‘class A’ drugs.
We are all different. They are sat thinking that I am an absolute bore who needs to let his hair down. And I am sat thinking I am pissing against the wind talking to these party animals about investments. To be fair, the stories coming from them were class and we had a good laugh.
It is ok to learn about money and even to teach other people what you know. What I don’t want to do is ram my opinion down anyone’s throat. If someone wants to get into investing I will help with the little financial knowledge I have. I will go over the basics and get them thinking about the long term and how it has the potential to make a massive difference a few years down the line.
Although my inner gambler maybe wants another little dabble with single shares, I am staying strong and am quite happy with my set and forget strategy.