What caught my eye this week.
The serendipity was too perfect. I thought: I’d write about this on Monevator, but who would believe me?
My girlfriend and I were on a visit last week to a picturesque part of Wales. Out of nowhere the blue sky turned into a thunderstorm (because we were in a picturesque part of Wales) and we dashed for cover under a tarpaulin strung up in a car park, allegedly meant for the patrons of a nearby coffee van but surely put there as advanced compensation by the Welsh tourist board.
An older lady appeared out of the storm. All smiles and shaking her head. A few seconds later her even more elderly partner stepped in.
As I often do and she clearly always does, we got chatting.
Golden dears
It turned out that they were in their mid-to-late-80s and had been semi-retired for decades.
They looked fitter than some of my university friends.
“We always walk at least 13km a day!” the lady told me.
“It’s a big world,” her husband added. “You have to get out to see it.”
They’d met and married in Malaysia more than 50 years ago, when she was visiting as an English teacher. Nowadays they spent half the year living in the poshest part of this town, and spent October to March overseas.
“It’s always summer for us!” laughed the man.
He asked me what I did for a living, but then he didn’t particularly listen before he gave me his investing tips. I’ve heard worse.
She said they did part-time work as marriage counsellors for their church. It was important to stay active and engaged when you’re older, she confided.
“I have three pieces of advice!” interrupted the man. “Always forgive the other person. Don’t argue for more than one minute! And never do anything to make your partner unhappy.”
That last one seemed like a reach, I suggested. In my experience it was often out of your hands?
But he was already off telling my girlfriend how he’d got his baseball cap – and most of the rest of his walking clothes – from visits he’d made to his old employer. Waste not want not.
The rain stopped and we shook hands and said our goodbyes. But then it turned out they were actually walking the same way as us.
Faster than us…
Now he was running! The jogging baby steps of an 86-year old, sure, but definitely pulling away.
“He wants to watch the Lionesses,” the lady told me, as she sped into a power walk. Over her shoulder: “Nice to meet you!”
I wished I’d asked them for their sustainable withdrawal rate.
Have a great weekend.
From Monevator
FIRE update: year four – Monevator
The mysterious case of Treasury 2061 – Monevator
From the archive-ator: What’s your financial origin story? – Monevator
News
Rail fares rise by an inflation-busting 5.1% – Guardian
Inheritance tax nets record £6.7bn before Budget raid – City AM
UK house prices rebound as market recovers from June dip – Guardian
…with BoE data pointing to a mini-boom – Yahoo Finance
…and Nationwide says housing is most affordable for a decade – This Is Money
Metlen confirms date for [much needed] £5.5bn London listing – City AM
London commuter towns revealed as Britain’s best places to retire – Standard
City offices ‘regain footing’ as deals tick up and prime rents surge – City AM
A speculative frenzy – Sherwood [with no risk premium on US equities]
Brewdog and its crowdfunders mini-special
‘Equity for punks’ fuelled Brewdog’s rise, and maybe its fall – The Conversation
How private equity swallowed the Brewdog unicorn [Paywall] – FT
Brewdog Britain is dead – The Spectator
Products and services
Cash ISA battle sends Best Buy rates up again – This Is Money
How to pay less for magazines or even get them free – Be Clever With Your Cash
Get up to £1,500 cashback when you transfer your cash and/or investments to Charles Stanley Direct through this link. Terms apply – Charles Stanley
Should you consider a product transfer for your next mortgage? – Which
Ofgem mulls different energy charges for varying household wealth – Guardian
Get up to £2,000 when you switch to an Interactive Investor SIPP. Terms and fees apply. – Interactive Investor
Pet insurance prices drop. You can pay even less with these tips – Which
The Junior ISA strategy that’s helped some accounts reach £200,000 – Which
Get up to £100 as a welcome bonus when you open a new account with InvestEngine via our link. (Minimum deposit of £100, T&Cs apply. Capital at risk) – InvestEngine
The cheapest ways to watch the Premier League – Be Clever With Your Cash
“We take everything a financial adviser does and automate it” – FT Adviser
Homes for sale in seaside hotspots, in pictures – Guardian
Comment and opinion
One-year state pension delay could cost early-50s over £16,000 – IFA Mag
Index investing is easier on your nerves – Humble Dollar
“Why I’m not paying into a pension” – BBC
Many Britons say they can’t afford to have kids – Independent
Don’t let comfort creep you out – A Teachable Moment
Could time off when young compensate us for retiring later? – The Conversation
“I earn £100,000 a year but I don’t feel rich in London” – This Is Money
The best leading indicator of wealth – Of Dollars and Data
Can we build it? No we can’t – Propegator
Uncommon common sense investing perspectives – Allan Roth
Today’s active managers are more skilled but they still lag… – Larry Swedroe
…and there are risks to passive dominance… [Research] – Alpha Architect
AI capital spend versus tech workers mini-special
Honey, AI capital spending keeps eating…everything – Paul Kedrosky
These charts on the spending boom have something for everyone – Sherwood
What happens if we spend $3tn on data centres that nobody needs? – FT
The have lots and have nots – Spyglass
The Satya of Satya’s layoff memo – Om Malik
Naughty corner: Active antics
Lessons from investing before the Internet – The Onveston Letter
Where do fund managers lose performance? – Klement on Investing
The case for low-volatility equities – CFA Institute
Bitcoin treasury companies: lessons from the 1929 crash – Be Water
Kindle book bargains
What They Don’t Teach You About Money by Claer Barrett – £0.99 on Kindle
Too Big to Fail by Andrew Ross Sorkin – £0.99 on Kindle
50 Economics Ideas by Edmund Conway – £0.99 on Kindle
Mastering the Business Cycle by Howard Marks – £0.99 on Kindle
Environmental factors
Househunters can now search for a home with an EV charger – This Is Money
Sheffield company launches eco-bricks that absorb carbon – BBC
Call to make wet wipe producers pay for UK’s polluted waterways – Guardian
UK’s rarest breeding birds raise chicks for first time in six years – Channel 4
Is indoor salmon farming the future of aquaculture? – Eating Well
Invasive seaweed ‘overwhelming’ Spanish beaches – Guardian
Robot overlord roundup
AI is about to make the public Internet useless – Philip Rosedale
Anything you say to ChatGPT can be used in court, warns Sam Altman – PC Mag
Reddit is even more influential than you think – Finfluential
Not at the dinner table
I coulda made a better deal – Paul Krugman
The great crime paradox [Paywall] – FT
Xi Jinping is the main thing holding China back – Noahpinion
Trump’s tariff disaster [Podcast] – David Frum of The Atlantic
The cost of financing U.S. government debt – Econofact
“We voted for retribution” – The Atlantic [h/t Abnormal Returns]
Off our beat
“I’ve stopped life-saving medication” says man after fight for NHS care – BBC
What ever happened to all the serial killers? – Derek Thompson
How diet can delay chronic illness in old age – Independent
The Red Queen fallacy – The Garden of Forking Paths
Neanderthals weren’t ‘hypercarnivores’. They feasted on maggots – Guardian
This is why we can’t have nice things: ‘dine and dash’ edition – BBC
How bread versus rice moulded history – Uncharted Territories
A nostalgic diesel train ride through Portugal – BBC
And finally…
“Advice is one thing that as freely given away, but watch that you only take what is worth having.”
– George Clason, The Richest Man in Bablyon
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Love the Archive-ator, not seen that one. Very relatable, except my damascene moment was a gradual realisation of a reality/aspiration disconnect. Progressed in fairly short order from interested through hobbyist to addict! Takes me to your great story, @TI – sounds just like me trying to keep up with my parents who I am incredibly lucky to still have; fit active and mid-80s.
Indeed, 2 more years – and interesting to read my response from five years ago in the comments. It’s like a portal into younger self’s mind.
This week’s post reminds me of my Grandad in his early 80s who was happily keeping with my teenage self as we walked a couple of miles to town, and asking where the nearest pub was.
I don’t imagine the paleo diet enthusiasts will be swapping their grass-fed beef for maggots any time soon!