The 5 year plan to £50k

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My advice would be to try and do something that you are interested in - that's half the battle, also, as some have already said - specialize in whatever field you're in or are interested in.

Unfortunately many people think that it's their right to earn reasonable sums of money for very little effort/time and hard work. The world doesn't turn that way - if it did I'd be at home every night by 4pm and be paid a lot more.

I started employment after dropping out of 6th Form on £333.33 p/m (yes you read it right!) based on 40hr week, some 15 years ago. I've had 3 different employers since then. I now design power architecture systems which is a off-shoot of what I was interviewed for back when I was 16, thankfully that decimal point has been moved on a few places now.

Is it possible, yes! Is it easy (in my experience), no....
 
Kagemusha said:
I started employment after dropping out of 6th Form on £333.33 p/m (yes you read it right!) based on 40hr week, some 15 years ago. I've had 3 different employers since then. I now design power architecture systems which is a off-shoot of what I was interviewed for back when I was 16, thankfully that decimal point has been moved on a few places now.
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You earn over £33,000 a month? That's impressive.
 
TJM said:
Anyone who says that is buying too much cocaine.

Living in London on less than £25k pa is well doable unless you insist on taking taxis everywhere or living alone in Zone 1/2. You won't be taking any fancy holidays, but you don't need to be earning an additional £80k pa for that.
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I just ignored that post for its ridiculousness. 110k is around 55-60k net in your pocket (after tax), and anyone who thinks that is merely "ok" vs the rest of the population is clearly on another wavelength, or has been earning significantly more for a long period of time
 
Lots of good advice in this thread. If this was me I'd take it all onboard no matter how unpleasant, go away and figure out how you will hit your goals and then come back (hopefully within 5 years!) to either thank the posters that helped you or offer a **** *** to the ones that criticised you.
 
As long as I earn enough to pay my rent, get out and about on weekends and buy relatively nice things I'm happy.

The main thing for the OP would be to forget your 50k target and aim for a place of your own.

The bit of independence might actually help you achieve something in your professional career. Instead, living with your parents is holding you back. Even the dude on 40yr old virgin had his own place, albeit with lots of action figures :P
 
£10k a month within a year is do-able. I can think of several ways still valid in 2014. Three of which I do already.

It is hard work, blood sweat and tears, all online though and all legal (unless you choose to dodge tax, but that is not part of the job description).

I don't know why people are adamant that they will only survive in life if they stay within the corporate work place. All you are doing in your 50k a year corporate job is earning its shareholders 100x that.
 
86JR said:
£10k a month within a year is do-able. I can think of several ways still valid in 2014. Three of which I do already.

It is hard work, blood sweat and tears, all online though and all legal (unless you choose to dodge tax, but that is not part of the job description).

I don't know why people are adamant that they will only survive in life if they stay within the corporate work place. All you are doing in your 50k a year corporate job is earning its shareholders 100x that.
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Do you want to enlighten us how to earn 10k a month?

Serious question btw. I'm genuinely interested to know.
 
Affiliate marketing combined with an email subscriber list(s).

NOT SPAM - but where people actually want to sign up to your email list.
 
86JR said:
http://www.tylercruz.com/affiliate-marketing-income-report-may-2014/

Scroll down to affiliate earnings:
http://www.smartpassiveincome.com/june-2014-monthly-income-report/
(Btw, if interested SPI is probably the best place to learn :))

Another guy http://www.matthewwoodward.co.uk/income-reports/

I am not transparent about my earnings, but clickbank alone makes £40 a day on average pure profit (before corp tax)
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I love these Amway-style "income reports" , they do wonders during the presentations don't day? :rolleyes:
 
MooMoo444 said:
If everyone knew how, I get the feeling it wouldn't be 10k a month anymore.
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Exactly. Although it is not really a competition thing.

For example if your background is sales and you can sell ice to an eskimo, go set up an Amazon Associate account, find high value items, go to places and talk their Director or MD into buying the products. Sounds laughable, but works, I can't do this as I am autistic - I don't deal with people very well face to face and hate using the phone. So I don't mind giving this "secret" away.

Anyway if they buy a £10k item through your associate link, you get 5%. Of £10k. = £500. X how many they buy.

With stuff like laptops, commision is capped to £25 per item so obviously you need to be careful what niche you choose.
 
Oh **** not 86JR talking about how awesome his empire is again.

I managed it though. Went from 17k to over 150k in about 2.5-3yrs working my way up the IT ladder strategically and then contracting in a good area of it. I hit a limit of what I can get doing this though, so now I'm working on my own things to try and make something myself. Worked my **** off though. Nights, weekends etc. just getting myself up to be good enough or learn.
Same with what I do now. Work day and night to try and make what I want work. You want it and willing to work for it, it's definitely possible.
 
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