I am too gullible about finance

I don't know anything about managing finances. I am stuck between two conflicting thoughts. My one thought says - I should obtain as much money as I can and should not be happy or satisfied with wealth. Being satisfied with wealth will finish my motivation to gain more. Having no motivation to gain more will only put me in financial crisis. That is why I should keep on gaining more and more wealth to be secured in worst scenarios like job loss, debt and retirement. My other thought says - If I stay unhappy and dissatisfied with money I have, I may get diseases from constant cortisol spikes which may increase my blood pressure. Not being happy with money will cook my brain all the time. I am stuck between two thoughts I also lack knowledge about how people lead great life in retirement and crisis. I lack ability to think and plan about future. I am a very "present tense" type of person. People who suffer financially in their retirement or later life definitely didn't plan early enough. That's a wake up call for me. I am afraid of staying hand to mouth in difficult times. Sadly, there aren't any forums in internet where I can garner knowledge about money management.

Hi NitNit! "My one thought says - I should obtain as much money as I can and should not be happy or satisfied with wealth. Being satisfied with wealth will finish my motivation to gain more." If you're healthy-minded - it shouldn't. Because what you're overlooking is the need to MAINTAIN that wealth, never mind increasing it. Having experienced both extremes (wealthiness AND poverty), however, my opinon is that STAYING wealthy, isn't much fun because it's ucking hard work, even IF you love your job/career. Being actually wealthy in the full sense i.e. millionnaire, is high-maintenance. As for being poor: that, too, is ucking hard work but just in a different way. The easiest state to maintain and be relaxed with, is COMFORTABLE. Which is healthier than futile greed or paralytic despair. As aligns with knowing and following this: Money does NOT make anyone happy. But to give it its due - it does make being miserable a darn sight more comfortable. Your reasons are realistic and perfectly common in this climate, however, as long as you try to keep things in the healthy domain of BALANCED. So as you're obviously in your most ambitious phase of life (20-something?), anyway - by all means go crazy for a while to get some savings under your belt as a buffer for aforesaid potential crises (and fyi, if you're English - these days the recommended amount is 5k). However, just for a decade or so. And then take your foot off the accelerator a bit. Don't get addicted to more and more money because addiction to anything can send you down the pan. But - blah-blah-blah... I recommend the easier route to becoming savvy and ongoingly motivated, which is, you checking-out out Martin Lewis's website 'Money Saving Expert'. Because he's a Rescuer (everyone's Dad) who is highly motivated to help and teach people like you in everything to do with personal finance. He's all for the consumer/victim in terms of PREVENTION, not just cure. If anyone can teach you about all the even IN-direct ways of accruing or maintaining wealth - he can. Every single aspect of finance. Including making what money you CAN save, work FOR you, i.e. investments that grow automatically without barely having to lift a finger (which puts paid (-scuse pun!) to your fear of a loss of motivation to keep earning). He has a long-term telly series, too, which you'll no doubt be able to tune into via YouTube. Let me have a look... Yep... This is his series of Shorts: https://www.youtube.com/shorts/LTEbZffe_qA Here's a normal length one (and he deliberately doesn't 'do' ads...CUZ 'E'S A REBEL, haha!): https://www.youtube.com/@martinlewis (- about the wiping of Student Loans). Check it out and then discuss things here as you go, if you like? Hope that helps for now?

Thanks for your reply Actually I am worried and anxious about money Regarding retirement, I need to start planning for it as soon as possible. It requires action 30 years before retirement. If I reach retirement with no planning in past, I will become poor and homeless. Nobody gives job in retirement. I want to have enough money by the time I retire. What if my salary may not be enough to meet my standards of living? I am not qualified enough to get those high paying jobs but I need decent money to supplement by living standards. My savings will be low if my salary stays low. I may also need extra income if I am not satisfied with salary I may get. I may try to do other things side by side to get more money. But the concern is, how will I manage both things? Suppose my brain gets cooked by one job leaving my energiless for the secondary income. I also need efficient ways to track my expenses.

Profuse apologies for the delay, NitNit!... I live in Spain where we've just had gale-force winds for days, causing a load of damage that has to be fixed and cleaned-up... haven't had time to scratch my nose! "Actually I am worried and anxious about money Regarding retirement, I need to start planning for it as soon as possible.' You mean, start a Pension? Are you British?... will you get a State Pension? "It requires action 30 years before retirement. If I reach retirement with no planning in past, I will become poor and homeless. Nobody gives job in retirement. I want to have enough money by the time I retire." IDEALLY, yes, but there are investiment plans. Or you could in future find yourself capable of making larger than average yearly contributions? You wouldn't be the only one to start a pension late. Hence there are investment plans. Low, Medium or High risk - payouts greater, respectively. "What if my salary may not be enough to meet my standards of living? I am not qualified enough to get those high paying jobs but I need decent money to supplement ((my)) living standards. My savings will be low if my salary stays low." How old are you? And how many years have you been earning a salary? "I may also need extra income if I am not satisfied with salary I may get. I may try to do other things side by side to get more money. But the concern is, how will I manage both things? Suppose my brain gets cooked by one job leaving my energiless for the secondary income. I also need efficient ways to track my expenses." Really, I need the answers to my two previous questions to know how to respond correctly. I totally get your concerns, though. I went through that, once, too. Roger? - Over?

"You mean, start a Pension? Are you British?... will you get a State Pension?" Yes, along with pension, I need bulk amount of money to survive decently from retirement to death. Regarding being British, no I am not British. I am from a third world South Asian country. Regarding pension, only several govt sector jobs and few private sector jobs have good pension. There is immense competition for those. Rest of the people get meagre amount of pension from govt. God knows how they get extra money from. "IDEALLY, yes, but there are investiment plans. Or you could in future find yourself capable of making larger than average yearly contributions?" I don’t know what kind of investment plans should I look for. What will be best for me I am confused. "How old are you? And how many years have you been earning a salary?" I am 27. I have no job, no work experience. I am really confused about my career choices. Everywhere there are negative sides, which makes me hesitant. I don’t have real skills. I just have a Bachelor of Arts degree. I fear I may feel stuck in low-paying jobs with no decent growth because of difficulty in attaining decent-income jobs. I feel I have to compromise on several things in my life. I have a habit of consulting chatgpt though I know it won't give me accurate answers. I also consult Quora but cannot explain whole story there in questions. Basically I want to take actions in life so that I don't regret later.

I'll answer your latest just as soon as I can, but - I'm laughing my face off because: "I am not qualified enough to get those high paying jobs" YOU SO AAAARE! You're only in your 20s yet have PATENTLY got the perfect Insurance/Pensions company brain!!! The proof is staring you in the face! A pension and/or insurance company would LOVE you! :D You don't need the experience - you've got the permanent mindset! The training of you would be piss-simple and take a fraction of the time it would take the average "a-job-any-job" type of applicant! What do you think about THAT then?

...Pension and/or Investments *Sales*, I mean. Five minutes with you and the client would be going - 'Sh*t, I hadn't thought of that - where do I sign!?'. :D You'd be fab at getting other 20-somethings in.

...Those are the toughest agegroup to 'crack', you see. And they tend not to take on board what any "wrinklies" reckon. They'd listen to you - oh YES.

Hi again! Well, I've read your reply and - Brit or not - Martin Lewis' site will still teach you all the basic understanding and principles, up. Thing is, though - where's your father and why isn't he teaching you all of this stuff?

"Thing is, though - where's your father and why isn't he teaching you all of this stuff?" My father is 62. He retired 2 years ago. He didn't plan in his working years that is why I don’t want to end up like him. That shows me what not planning and look future does to you after retirement. The pension he gets monthly is a meagre amount. That money is not enough. He has $24,000 backlog money with company he worked with. The company is liable to pay him backlog money and anyone who has retired. The company is now bankrupt. It has taken the case of paying backlog pending money to retirees to the court. Court is yet to take decision on payment of backlog money to retirees. Unfortunately, court isn't giving date for hearing of this matter. Until the matter gets settled, my dad won't be getting that money. Provident Fund isn't sufficient. He gets PF money in every 6 months which is not enough. It seems like dad should have started planning very earlier. Now he has no hope. It is a big lesson for me. Now the time is over for him. He didn't do well in his career. He joined company in 1993. He was well for few years. In late 90s and early 00s, he missed opportunities by not listening to boss. Between 2007-2014, he had drinking habit due to which he couldn't go up in his job by taking lots of leaves. By 2015, he started to do well but that was too late. Today he is apologizing for the blunders he did in past. He is suffering from the mistakes done in past. He is regretting what he did in past. What my dad is dealing now is the reason why I am having doubts about future which I wanted to ask out on internet here.

Currently he is trying hard to get a job. He is not able to land a job. If he manages to land a job, it either has some trouble or comes at a price. He has to reject it. He landed just 2 jobs in since 2025. In 2025, he landed an insurance job but rejected it due to the rule of paying that much money which dad didn't had. Recently, he landed a NGO job. He rejected it because allowances were too low to compensate the charges of his travel. It was a field work job. He feels what's the point of doing that job when 50% of the salary will go in travelling, hotel rooms, eating out, commute. Maybe his age is the reason nobody is employing him easily. His education doesn’t matches with his career. He did MBA but worked as corporate employee for 30 years for his good English grammar skills and writing. He is mostly looking for English teaching jobs but I feel his education qualifications don’t match with his career.

I also lack knowledge about how people lead great life in retirement and crisis. I lack ability to think and plan about future. I am a very "present tense" type of person. > What / who are you IN the present tense ?? lack knowledge about how people lead great life in retirement and crisis > life IS what you make it, you don`t get a second chance As a present tense person, how do you want to be remembered - will you be remembered, what will your gravestone say ?

I want to live properly until I die. After death, I won't be able to feel comfort and relaxed. As long as I am alive, I need stress free and happy life.

Re: I want to live properly until I die > What IS livin properly? Livin it IS better than the alternative

NitNit, have a thorough surf around Martin Lewis' website/youtube vids, and then come back and tell me what you think and have learned (if you like?). As I say - he explains the stuff that dads normally do (but which, yours evidently wasn't in a position to) :)