The 5 year plan to £50k

grimm · 31 Jul 2014 at 11:44

One of the main issues you have is being obsessed with the number, and also the timescale. You are just setting yourself up for unhappiness because most likely you will fail to achieve it.

Just try to do something you enjoy more than what you are doing now and save as much money as you can to put towards a house deposit.

You should also put yourself out there and hopefully find a long term partner. If it goes well you will have someone to share your life with an also two incomes potentially which will make buying a house more realistic with your combined salaries. It could also lead to having a family of your own (even if you are just a couple with no children it is still your own family unit) or other experiences that are far more important than money.

If you just want to try to slog your way to £50k pa to the detriment of everything else in your life then I can pretty much guarantee that you will get there and still be unhappy.

In my opinion work-life balance is much more important than the amount of money you make, and £27k pa if you have quite an easy life overall is more than enough. Save as much as you can whilst living with your parents, get on the housing ladder, spend all the free time you have because you have an easy job pursuing the things you enjoy and put some effort into meeting new people.

randomshenans · 31 Jul 2014 at 12:18

I'd disagree on the timescale thing. I set myself periodic goals for time and most could say they're ludicrous, but I don't like to settle and don't think aiming low should be something you should do.
I change these goals too as I get older. I used to set myself earning more in thousands than my age, so more than 20k at 20 etc.
Changed that to director by 30... or other such things. I don't think there is a problem with setting goals, but agree that being transfixed on a figure isn't the way to go and agree with Freefaller that setting yourself a target of a lifestyle and what it contains is far better as you then are more motivated to actually get there as well.

I definitely don't agree with grimm about setting yourself up for unhappiness "because you will most likely fail" as that's just the completely wrong attitude. If you want something the only thing stopping you from doing it is you. Far too many people in here "wishing" they were on xyz when it's just a case of actually going out there and doing it.

grimm · 31 Jul 2014 at 12:39

randomshenans said:
I'd disagree on the timescale thing. I set myself periodic goals for time and most could say they're ludicrous, but I don't like to settle and don't think aiming low should be something you should do.
I change these goals too as I get older. I used to set myself earning more in thousands than my age, so more than 20k at 20 etc.
Changed that to director by 30... or other such things. I don't think there is a problem with setting goals, but agree that being transfixed on a figure isn't the way to go and agree with Freefaller that setting yourself a target of a lifestyle and what it contains is far better as you then are more motivated to actually get there as well.

I definitely don't agree with grimm about setting yourself up for unhappiness "because you will most likely fail" as that's just the completely wrong attitude. If you want something the only thing stopping you from doing it is you. Far too many people in here "wishing" they were on xyz when it's just a case of actually going out there and doing it.

That sort of approach only really works for individuals that are highly self motivated. The OP is clearly not one of these.

Housey · 31 Jul 2014 at 12:44

So OP, what have you done since you first posted this thread to move you towards your goal?

Mint_Sauce · 31 Jul 2014 at 14:24

grimm said:
One of the main issues you have is being obsessed with the number, and also the timescale. You are just setting yourself up for unhappiness because most likely you will fail to achieve it.

Just try to do something you enjoy more than what you are doing now and save as much money as you can to put towards a house deposit.

You should also put yourself out there and hopefully find a long term partner. If it goes well you will have someone to share your life with an also two incomes potentially which will make buying a house more realistic with your combined salaries. It could also lead to having a family of your own (even if you are just a couple with no children it is still your own family unit) or other experiences that are far more important than money.

If you just want to try to slog your way to £50k pa to the detriment of everything else in your life then I can pretty much guarantee that you will get there and still be unhappy.

In my opinion work-life balance is much more important than the amount of money you make, and £27k pa if you have quite an easy life overall is more than enough. Save as much as you can whilst living with your parents, get on the housing ladder, spend all the free time you have because you have an easy job pursuing the things you enjoy and put some effort into meeting new people.

I completely agree with everything grimm has said, too many people think that the more money the better but really it's down to enjoying life now while still thinking about the future.

You're richer than you think already, ask Bill Gates if he would trade all his wealth to be your age again and I think he'd jump at the chance.

Richdog · 31 Jul 2014 at 16:41

FoxEye said:
You're absolutely correct, as of right now. Right now I don't even deserve the 27k I'm on. Totally agree.

I was trying to envisage a time in 5 years where I would be worth 50k.

Im quite surprised you only seem to be defensively responding to negative posts that have little bearing on the issue. A few people typed you up some really constructive and positive posts including good suggestions for getting A-levels, IT certs, a degree etc, and you seem to have completely ignored them.

FoxEye · 31 Jul 2014 at 16:47

Richdog said:
Im quite surprised you only seem to be defensively responding to negative posts that have little bearing on the issue. A few people typed you up some really constructive and positive posts including good suggestions for getting A-levels, IT certs, a degree etc, and you seem to have completely ignored them.

Read them; appreciated them; felt no need to respond to them.

There is no "thanks" button on these forums, and it would be silly to reply "thanks" to every helpful post.

FoxEye · 31 Jul 2014 at 16:50

Housey said:
So OP, what have you done since you first posted this thread to move you towards your goal?

For the moment I've simply been collecting my thoughts/ideas into a notepad file

Trying to work out what I want to do/ what my interests are.

For the past two/three days I've actually been quite busy helping other people with various things. Like tonight after I've fed myself I'm about to grab a pickaxe and do some serious digging

Spook187 · 31 Jul 2014 at 17:10

Have you considered moving north, get away from all the rip off prices for property in the south, better mannered people

FoxEye · 31 Jul 2014 at 17:30

Spook187 said:
Have you considered moving north, get away from all the rip off prices for property in the south, better mannered people

I hadn't seriously, no. But a lot of people have suggested I should. I'm not ruling it out. I'd want to have a job lined up before moving that far.

Spook187 · 31 Jul 2014 at 17:37

FoxEye said:
I hadn't seriously, no. But a lot of people have suggested I should. I'm not ruling it out. I'd want to have a job lined up before moving that far.

have a look about on some jobs sites, who knows what might crop up

Judgeneo · 31 Jul 2014 at 17:50

Judgeneo said:
Discover a tin mine?

I still maintain that this is your best bet for your location.

£50k should be possible in 5 years though, even in your current line of work.

If you're really doing very little at the moment, then pick up some more responsibility and impress folk/better yourself.

The Funktopus · 31 Jul 2014 at 18:04

I maybe bat-****, and you can quote me on that, but I find being 30 and living at home still a massive issue, I honestly find admitting that to someone utterly humiliating.

Still, I've just completed a career change that took me three years, and in October I'll be starting a job that'll allow me to scrape a deposit for my own place together a few months afterwards, so I may not have to bear it much longer.

I hope.

Amp34 · 31 Jul 2014 at 21:32

randomshenans said:
I'd disagree on the timescale thing. I set myself periodic goals for time and most could say they're ludicrous, but I don't like to settle and don't think aiming low should be something you should do.
I change these goals too as I get older. I used to set myself earning more in thousands than my age, so more than 20k at 20 etc.
Changed that to director by 30... or other such things. I don't think there is a problem with setting goals, but agree that being transfixed on a figure isn't the way to go and agree with Freefaller that setting yourself a target of a lifestyle and what it contains is far better as you then are more motivated to actually get there as well.

I definitely don't agree with grimm about setting yourself up for unhappiness "because you will most likely fail" as that's just the completely wrong attitude. If you want something the only thing stopping you from doing it is you. Far too many people in here "wishing" they were on xyz when it's just a case of actually going out there and doing it.

Earning more in thousands than your age isn't particularly challenging. Change it to double your age by 30 (so be on 60k at 30, 80k at 40, 100k at 50 etc.)

Agreed with most in this thread though, money is great and all but enjoyment is better. 27k in Cornwall is loads, you should be out having fun and furthering your life as a whole. A goal is always good though.

Richdog · 1 Aug 2014 at 11:21

FoxEye said:
Read them; appreciated them; felt no need to respond to them.

There is no "thanks" button on these forums, and it would be silly to reply "thanks" to every helpful post.

No, I meant that those were the posts worth responding to, not the criticisms for living at your parents place, which in the grand scheme of things is completely inconsequential in comparison. Shows your mindset to be honest... sadly I don't think you will be earning 50k in 5 years.

randomshenans · 1 Aug 2014 at 12:43

Amp34 said:
Earning more in thousands than your age isn't particularly challenging. Change it to double your age by 30 (so be on 60k at 30, 80k at 40, 100k at 50 etc.)

Agreed with most in this thread though, money is great and all but enjoyment is better. 27k in Cornwall is loads, you should be out having fun and furthering your life as a whole. A goal is always good though.

Ha I know, hence me soon changing my goals pretty soon after starting work. Mine's (willy presented) more like 4x my age, so goals need to be higher. Company worth over a million by 30 will do me.

krisboats · 1 Aug 2014 at 16:51

FoxEye said:
Read them; appreciated them; felt no need to respond to them.

There is no "thanks" button on these forums, and it would be silly to reply "thanks" to every helpful post.

You felt no need to respond to people who went out of their way to type a relevant reply that was helpful to you? But happily spend your own time replying to unhelpful or irrelevant posts?

From this alone you can spot the problem with your attitude that others have highlighted. You're ungrateful and unappreciative and have your priorities backwards. THAT is why people have said they dont think you'll get to 50k.

Gilly · 1 Aug 2014 at 16:57

FoxEye said:
Like tonight after I've fed myself I'm about to grab a pickaxe and do some serious digging

Is this some gay minecraft reference?

FoxEye · 1 Aug 2014 at 17:05

krisboats said:
You felt no need to respond to people who went out of their way to type a relevant reply that was helpful to you? But happily spend your own time replying to unhelpful or irrelevant posts?

From this alone you can spot the problem with your attitude that others have highlighted. You're ungrateful and unappreciative and have your priorities backwards. THAT is why people have said they dont think you'll get to 50k.

Make of it what you will. I personally think there many people who enjoy having a dig. And I'm a sucker for taking the bait.

This thread is littered - and I mean that - littered with people who just want to criticise. And most of them did nothing else.

And if I post anything in response to these people then I open myself up to even more criticism, from even more people.

So you have found that I am not the kind of person to let it bounce off me. If someone wants to be a **** to me, I am not going to stand there and turn the other cheek.

Of course this means I won't ever earn 50k (lol)

Richdog · 1 Aug 2014 at 17:16

FoxEye said:
Make of it what you will. I personally think there many people who enjoy having a dig. And I'm a sucker for taking the bait.

This thread is littered - and I mean that - littered with people who just want to criticise. And most of them did nothing else.

And if I post anything in response to these people then I open myself up to even more criticism, from even more people.

So you have found that I am not the kind of person to let it bounce off me. If someone wants to be a **** to me, I am not going to stand there and turn the other cheek.

Of course this means I won't ever earn 50k (lol)

To be honest, this makes you sound incredibly immature for a 34 year old. Based purely on your posting I think you will be lucky to earn 35-40k in 5 years.