The 5 year plan to £50k

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dowie said:
sort of like a transexual but even more confused - in the case of furries it is species rather than gender
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Not quite... there's probably a word for that specific condition, but I know it not.

Do we really want to go here in this thread? Start a new one if you want to discuss being a furry, maybe? Mags jus' be trolling, as per usual.
 
FoxEye said:
Not quite... there's probably a word for that specific condition, but I know it not.

Do we really want to go here in this thread? Start a new one if you want to discuss being a furry, maybe? Mags jus' be trolling, as per usual.
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I can tell you one thing and I can't emphasise it enough,

DO NOT follow the money and also don't go into healthcare. I work in healthcare (pharmacy) and it is extremely stressful, cuts left right and centre, nobody knows what we do and they don't realise it requires a 4 year degree plus 1 year of being a slave, blamed for everything just for £18k.

Unless you're 100% passionate and know what you're getting into then avoid healthcare, there's much easier ways of making £35k, also lets not forget about the amount of money spent in rent during those 4 years at university and general living costs.
 
flibbage0 said:
I can tell you one thing and I can't emphasise it enough,

DO NOT follow the money and also don't go into healthcare.
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The trouble is, if you don't earn a lot of money you are forever someone's slave.

Down here a large number of people paying 50+% of their take home pay on rent. With wages stagnant in many sectors, and house prices increasing, that % is set to grow still further.

The housing market doesn't look like it will ever crash, so the only way to avoid paying 50+% of your income on rent (and therefore being totally skint) is to chase the money, as you put it.

Without money you're just slaving for someone else. The only way to be a little bit "free" is to earn a lot of money.

That's how I see it.

I don't want 50k to keep up with the Jones's, or buy a yacht or meaningless crap like that. I just don't want to work all day and have nothing to show for it. I don't want some leech sucking me dry every month.
 
I also started a plan to make 50k within 5 years.
I'm on my 3rd year.. planning permission is due any moment. If it's good news I will have done it! If it's bad news... I loose further funds lol
 
FoxEye said:
The trouble is, if you don't earn a lot of money you are forever someone's slave.

Down here a large number of people paying 50+% of their take home pay on rent. With wages stagnant in many sectors, and house prices increasing, that % is set to grow still further.

The housing market doesn't look like it will ever crash, so the only way to avoid paying 50+% of your income on rent (and therefore being totally skint) is to chase the money, as you put it.

Without money you're just slaving for someone else. The only way to be a little bit "free" is to earn a lot of money.

That's how I see it.

I don't want 50k to keep up with the Jones's, or buy a yacht or meaningless crap like that. I just don't want to work all day and have nothing to show for it. I don't want some leech sucking me dry every month.
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Understandable, however on the road to a good salary, there will be a period of time where it will suck.

For example, my registration year has been shambolic, hated every minute of it enough to make me think screw this why am I doing this. My health has suffered, although my weight is the same I'm getting problems (hopefully not permanent), I'm standing up all day sorting out other people's mistakes and at the end of the day your boss who has to sign you off tells you "I haven't seen you do xyz"

It's been nothing short of pure excrement, and I've spoken to mates frequently who are doing the same registration year as I am and have none of these issues

The point is that I've come this far that it would be stupid to throw it all away, I'm less than 3 months away from doubling to almost tripling my salary, and if I still hate it I'll use it as a stepping stone for something else. All of this will build up your character and help you deal with issues later on in life whether it's in the workplace or personal life
 
I think I'd have to completely change my personality, blag at every opportunity and work twice as hard as I currently am to get anywhere near £50k in 5 years.

10 years is probably possible. All hinges on getting through ACCA though.

Where I am at the moment isn't the worst place in the world though and I plan on asking for a pay rise when I complete AAT in April.
 
I know a lot of rich people and none of them work because they all own companies.

The way I see it, if you are an employee, you will be working for someone else so they can get rich while you are limited on what you can earn.

If you own a company, then you get rich while other people do all the work for you.

A few years hard work, setting up a company, slowly growing it, then you stop working and let the company tick over while you sit back and get rich. Then invest this money in properties or purchase/start other companies and watch the funds grow. The wealthiest people run their own firms. After that you have the dentists/lawyers/investment bankers etc who all earn very nice salaries, but they need to go to work everyday to do it.
 
whilst the advice in this thread might work for most people it obviously isn't the case for everyone

reading some of this thread gives me the same feeling I get if I was to watch The Apprentice....it's not a good feeling!
 
no_1_dave said:
I know a lot of rich people and none of them work because they all own companies.

The way I see it, if you are an employee, you will be working for someone else so they can get rich while you are limited on what you can earn.

If you own a company, then you get rich while other people do all the work for you.

A few years hard work, setting up a company, slowly growing it, then you stop working and let the company tick over while you sit back and get rich. Then invest this money in properties or purchase/start other companies and watch the funds grow. The wealthiest people run their own firms. After that you have the dentists/lawyers/investment bankers etc who all earn very nice salaries, but they need to go to work everyday to do it.
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I suppose the obvious counter-point to this is every failed business venture.
 
no_1_dave said:
I know a lot of rich people and none of them work because they all own companies.

The way I see it, if you are an employee, you will be working for someone else so they can get rich while you are limited on what you can earn.

If you own a company, then you get rich while other people do all the work for you.
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sort of, though as mags rightly pointed out that is also how people become bankrupt... big risks can lead to big rewards but you can also lose everything (obviously not all self employment requires big risks and then again not all self employment has much potential for big rewards either)

I think the two big factors in earning a decent wedge are being close to the money and/or having a hard to get skillset

by being close to the money I mean your role directly having an impact on revenue - i.e. a salesman, a trader, a consultant or some other form of professional whose time is billable (barristers, doctors undertaking private work, accountants, solicitors etc..). Obviously if you own the company or a big stake in it then you're close to the money by default.

there are also highly skilled people who don't necessarily directly bring in revenue but who are known to be valuable and indirectly affect revenue - for example a footballer doesn't have any revenue attributed to him specifically at a football club but having good players is valuable to the club and they're the main driver of the club's income, they create the product that is sold in the form of tickets and TV rights. You could make a similar argument about say a highly prized 'rockstar' software engineer, like the guys at google apparently getting annual compensation in the millions.
 
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