The 5 year plan to £50k

[FoxEye]

Start by reading this...

http://www.fourmilab.ch/etexts/www/barnum/moneygetting/moneygetting.html

That chap wrote it in 1880 and so much of it stands true today.

Just read it, it is not very long.

I've bookmarked it for tomorrow Thanks.

 

[FoxEye]

£15-£20k seems rather optimistic.

I assume the £27k is gross pay so net would be around £21,300 then less whatever other deductions the OP has, e.g. pension contributions.

My take-home is roughly £19k after tax and NI.

Bills are about £5k a year, including council tax, food, gas, leccy, landline, TV, internet, the essentials. Leaves me with £14k. Electric alone is something like £1k/year, last time I checked.

Realistically I can save between £10k and £13k a year.

To answer the other questions about why haven't I moved out yet?

5 years ago I had no job and a lot of debt.
I took a £15k/year job for 3 years and this paid off the debt, eventually.
I've been on £27k since March only. The saving starts now.

 

[FoxEye]

1k a year on electric?? Are you growing illegal drugs???

Hmm. Now there's an idea. Think I'd hit 50k doing that?

Maybe it was combined gas/electric bill then We use the same supplier for both.

 

[FoxEye]

A question. Outside of a huffy moment of realisation, what has stimulated this ambition and outside of this thread, what have you done to start the change in your life?

Plain and simple if the best I could do before I died was what I'm currently doing, my life would be an epic failure. I need to achieve more. And earn more.

What have I done so far? Well as yet I have no direction and quite frankly need some input to even get started. It's confusing, bewildering, and I should have started much earlier in life.

I know this probably sounds dumb. I guess I need to take small, measured steps. But I need to work out what steps they should be first.

 

[FoxEye]

Reach your mid 30's as our OP is heading towards and very few people are going to be looking at 35 year olds who have done nothing but have just spent 2-4 years at University gaining a tick box, there are far younger people without such baggage who are likely to be much more hungry.

Yes, I'm pretty sure many professions are closed to me due to my age. Software development, for instance. Nobody is going to hire a 35 year old junior programmer. By the time you've got a portfolio under you belt you'd be retiring

But isn't it going to be like that for almost *all* professions? I can't think of many employers who wouldn't rather have a 23 year old starter than a 35 year old starter.

So it's not going to be easy. I imagine, like has been already said, I'll be facing a lot of rejections, and very little interest.

 

[FoxEye]

Work hard. I think that's where you'll fail.

Thanks for that

 

[FoxEye]

Foxeye,

The job your currently in imo is fantastic money, you earn far more than i did either in Iraq or afghan.

I think maybe joining the Army reserves would do you a world of good, get some discipline into you, some independence, get you out of that basement and into a job that will make you appreciate what hardwork is.

Maybe then you'd have the mindset to apply yourself more in your current job, or, failing that, the balls to do the hard work requires to find something else that you enjoy and meets your wage expectations.

Hi mate I have no doubt that you're right. Ex-mil people do tend to be disciplined and focused. If only the mil wasn't, at the end of the day, concerned with killing people. As a strict pacifist, I can't join the forces.

But if there was a non-killing version of the military I'd probably sign up tomorrow I know not every role is a combat role but at the end of the day they all serve to support the combat roles.

P.S. Do they really take 34 year olds? I always had the forces down as a young man's game. Much like footballers, by the time they get to 35 they're either officers or approaching retirement, no? Or is that just the army?

 

[FoxEye]

I went from £22K to £60K in 4 years so it's defo possible. I was around the same age also.

Mind if I ask what profession?

I'm surprised that being on OcUk for 8 years and living in your parents basement hasn't taught you anything more than basic IT skills.

Did you not even code or do something useful as a hobby/passtime?

People learn useful skills on OcUK? Where?

I can code badly. I imagine most of us here can But I've only ever messed around with coding. A bit of JS here, a bit of C there, a bit of Java and Lisp at uni. But it wasn't software development. It was messing around. I've written the odd SQL query at work.

Basically yes I can understand some code and basic stuff. But that does not a programmer make. I couldn't actually get hired as a coder with what I've done.

Why didn't I learn more in that time? I was extremely lazy and spent most of my days unemployed playing MMOs. That's the honest version, and obviously I'm not proud of it.

 

[FoxEye]

You can't. You "don't listen to advice from internet randoms".

Let's not carry on our argument from that other thread. And that's not what I said, either, as well you know. Context is a wonderful thing. But bringing an argument from another thread here is a bit childish.

Why in gods name do you still live in your mums basement if you are 34 and earn 27k?

Have you ever worked in 1st line / 2nd line? Do you even know what sort of knowledge is required for 2nd line work?

-sorry, I have read only the OP's first post and not the entire thread

edit - now read all the read and everyone opinions of you seem valid. Why the hell dont you have money saved if you have been living at home for year, or have only only been at home for a year or so?

Mate, I explained that. A few years unemployed. Large debt. Paid off debt with min wage job. Pay rise only a couple months ago. Back in black now, just.

1st/2nd line is what I did in the min wage job btw. I wasn't great at it, but I know what's involved.

 

[FoxEye]

Just caught up on the thread. Lots of interesting replies. Thanks.

 

[FoxEye]

How about looking at air traffic control? Wife looked at that once and thought it was interesting and they will send you to various locations for your training. It sounds like a demanding job though.

Yeah I have huge respect for those guys. Have to be mentally very quick and cool as ice under pressure. And the responsibility is very sobering. All those people's lives literally in your hands.

 

[FoxEye]

I think that you are one of those guys who always has an excuse for why they can't do anything.

At the risk of proving this guys point...

So apply? Demanding yet rewarding!

I'm best at things where I can take my time, and make lots of mistakes. Learning by trial and error is what I do. I make tons of mistakes in 1st/2nd line support, but it isn't fatal, and you can learn from it (I'm pretty much self-taught as no training was ever given).

Given a lot of time I can solve problems. But if I have to think on my feet I always panic and screw up. Under pressure I always give the wrong answer, but if I can have time to prepare an answer in a quiet room I have a chance.

This isn't making excuses. Although maybe mental quickness can be learned, I hadn't thought about that. I'm not sure it can, what do you think?

On the other hand there's no reason not to apply, because if I'm as unsuitable as I think, that would be very quickly found out and I'd fail their tests. Hmm. OK.

 

[FoxEye]

Anyway I've blabbered on enough, just thought I'd throw a suggestion out there.

Thanks

To be honest even getting qualifications, studying etc isn't a guarantee to earning "big", there are people that step out of University with degrees who won't earn your magical "50K" target.

It's funny, it really is. In another (yonks old) thread talking about jobs I said I wanted to earn 30k. I remember a couple responses were "30k? Is that the limit of your ambition? LOL"

So here we are, and I upped the stakes to 50k, and now a lot of people say I'm silly to aim that high.

So... I guess the lesson is, 30k target lacks ambition, but shoot for 50k and you're a dreamer So the sweet spot is somewhere in between, for the purposes of having a discussion and sounding reasonable on OcUK

 

[FoxEye]

You don't deserve 50k PA

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.

Why not move out of your parents and let the independence give you the kick up the arse you need?

When I have saved enough for a deposit, then I would surely think about moving out. Until then moving out would hurt my future chances not help them.

However a lot of people have suggested that moving out now will somehow make me better off... and I'm not sure why they think that.

By moving out now I will:
Have a lot less money/ be able to save less, because I'll be renting. Rent here is about £500 pm for a boxy little place, no kidding. Unless I move away from my family up country somewhere.

Due to the above, probably have to leave my current job, as I really can't afford to rent in Truro. I don't have a car, so if I live elsewhere I'll have to pay to use public transport too.

Given the hefty financial penalty for moving out now, what makes it such a good move in your opinion?

 

[FoxEye]

I wish I could do **** all for 27k.

Instead I earn £16700 a year and use advisors seem to have to do other depts jobs now and have to be working our ass off (sat in a chair of course)

We don't even have access to anything other the MSN, so I can't sit on OcUK between calls (when there is a gap that is)

For the last for 3 years I was on 15k (before tax!!!). I know the feel. I'm not letting that happen again, mind you. How long have been in your current role?

 

[FoxEye]

Yes, staying with mum and dad was the best financial move i ever made. They are starting to hint that if I want more children or dogs, that I should consider a move.

Not sure if serious.jpg

 

[FoxEye]

Why not move vertically within your current structure? By the sounds of it you're lucky to be getting that wage in Cornwall for doing the best part of naff all so why not get more senior, get paid more and hire other people to do naff all for you instead?

He wont reply, he only replies to posts which back-up his own pre-formed ideas, or the negative posts which allow him to justify his own lack of drive.

Not sure what I could have said in reply? If the opportunity arises to move up, there will be a post advertised, people will apply and someone will be appointed. What's to say?

 

[FoxEye]

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]

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

 

[FoxEye]

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.