"It's lucky for Spurs when the year ends in one" sang Chas and Dave, and true to form in May of that year my beloved Super Spurs won the FA Cup led by England soccer heroes Gary Lineker and Paul "Gazza" Gascoigne.
That summer, you see, Britain's "loadsamoney" excesses of the 1980s had come back to bite with a vengeance and the UK was in the midst of a deep recession which had lasted a gruesome five quarters.
Elsewhere in 1991, the Soviet Union collapsed and spiralling interest rates in Australia had seen the "recession we had to have" and real estate woes here too.
The greedy bankers and capitalist fools who owned houses and had speculated in shares would be ruined. Thankfully, we were young and we'd never go down that route, though.
In 2001, Spurs didn't win the FA Cup, I didn't go to any festivals and was working for a corporation in London.
2011 - world sure to end this time
The US and UK had experienced deep recessions. Australian dwelling prices had fallen by around 6 percent or so leading to an unprecedented bout of online hysteria Down Under. Meanwhile, the US government had by now stumbled into its debt ceiling crisis spooking share markets into wild intraday swings (ditto).
And ever onwards the cycle of doom and gloom goes.
The one thing you can be assured of as an investor is that it won't be a smooth ride. As the old saying goes: "We'll have seven to ten recessions over the next 50 years - don't act surprised when they come."
More than that, we're human. There will be bad relationships, worse investments, accidents, illness or other derailments along the way.
But usually in life, it's more important how we react to what happens to us than what actually happens to us, and what determines the end result is likely to be persistence - the determination to continue regardless of what occurs.
Therefore if you are going to build a share or investment portfolio, you must have the discipline not to cash in the shares or investments for a holiday or a new car. This is one reason that some people have done well in property, since they buy in popular locations and resolve to never sell.
Between now and the next year ending in one (2021) compulsory superannuation contributions will have been ratcheted up from 9% to 12%, and whether it is confirmed this year or some time in the future, the pension age will eventually be increased to 70.
Australians are well-paid in global terms and tend to earn a surprisingly high number of dollars in their lifetimes, but rather than saving and investing them, the majority elect to spend pretty hard too.
1 year? 2 years? 5 years? I don't reckon so. How about thinking beyond your own lifetime?
-eliminating bad debt;
-knowing the difference between needs and wants;