But in the back

of my mind, I thought, oh, he's not quite ready.

I think probably just if you can do it sort of next time around, because he was even, I was young and slightly inexperienced and he was a little bit younger as well.

But what I found was a really intelligent guy who had sort of thought deeply, but was quite ambitious to obviously achieve a lot.

And I suppose I'm then, it's difficult, isn't it, to remember exactly what you remember then compared to the person that you sort of know and see.

So I still really struggle with the idea of Prime Minister Burnham because we spent most of our time playing football together or sort of doing other work in sport and physical activity together.

And obviously, yes, he rose through the ranks.

How does it compare with a new leader, a new prime minister? Has the mood changed much?

Can you talk about why this happens and have you found any good ways to keep people from making this mistake, which presumably can cost them a lot of money if they don't get the funds invested in something with long-term growth potential?

Absolutely.

The first thing I have to do is admit that I did this at least once in my life, so...

Maybe I'm not the right person to opine on the way to solve it.

But look, it's inertia.

I think that it boils down to inertia.

The fundamental question in a lot of behavioral finance in the world of investing is, what happens if you do nothing? We're very focused on what happens when investors do something.

What can retirees do to kind of switch their mindset from saving to spending and get away from that fear or scarcity type of mentality?