it's a visceral emotional reaction to be the expectation that we manage our lives as though they are portfolios. Clearly if there is some "set and forget" s&s option that's best for everyone that should be communicated, but it's not exactly the most dangerous ignorance available just now, is it?
There *is* a "set and forget" S&S option (dollar/pound cost averaging a target retirement index fund that's globally diversified). I don't know why whether it's "the most dangerous ignorance" is relevant at all.
Also, the theory here seems to be to react with visceral hostility to advice on this topic to, what, save openmindedness for bigger issues? Could just…be openminded in general!
these replies are ignoring my point about the emotions involved in being required to treat our lives as portfolios... Anyway, I'm going to look into a s&s isa now since you're so vehement, but for everyone else the only way you're going to achieve change is to get Martin Lewis to talk about it.
Martin doesn’t give investment advice. He’s always very clear about that. What we need is someone equally trustworthy to give investment advice. I can recommend Investment Chronicle (Magazine & website) & their various podcasts.
Your life isn't a portfolio, but your savings are. It's just that some of those portfolios are very low-risk, but make up for that by being extremely low-return. And that is fine for those of us with very few savings where it's there to deal with crises, but a much worse deal for those with more.
So what does 'dollar/pound cost averaging a target retirement index fund that's globally diversified' mean to someone with a spare £500? (Or more basically, what does it mean in lay terms?)