I think that the traditional investment mindset is suboptimal for most people. Especially the young.
For example, the advice to start early on a pension is commonplace. But the young often have low disposable income, and this cuts in to other possible uses of money that have far more return on low amounts of capital.
For example, taking a few months out to study in a different field. Building up a relocation fund so that you can move to a higher paying area. Working towards a property deposit. Buying cars outright instead of borrowing money to finance them.
Most of those have a far better return than a few percent per annum. It's just not clearly quantifiable. And that's not even going in to the riskier things like starting a business.
For example, the advice to start early on a pension is commonplace. But the young often have low disposable income, and this cuts in to other possible uses of money that have far more return on low amounts of capital.
For example, taking a few months out to study in a different field. Building up a relocation fund so that you can move to a higher paying area. Working towards a property deposit. Buying cars outright instead of borrowing money to finance them.
Most of those have a far better return than a few percent per annum. It's just not clearly quantifiable. And that's not even going in to the riskier things like starting a business.