What's your job & salary

bladespin

Deleted User wrote: »

Yeah, living like a pauper until your 50s. Not a strategy I'd ever think was sane. Total waste of life. And very, hard to change the habits of a lifetime. He may give up work, but he's almost certainly still frugal to a fault. *shudders*

You wouldn't have to live like a pauper to do it, just not waste money like everyone around you, dread to imagine how much I've wasted over the years on beer and cigs etc, the same goes for cars, many put themselves into seerious debt for a 'nice' car, grand if that's your thing but if all you want to do is get from A to B then a banger would do it fine too (bangernomics thread). Priorities.

bladespin

bladespin wrote: »

... but if all you want to do is get from A to B then a banger would do it fine too (bangernomics thread). Priorities.

But, who wants to spend their 20s to 50s life going from A to B (figuratively speaking) just to get on the golf course at age 50.

I don't smoke and rarely enough drink, but that's not because I'm denying myself for some future pay off... It might suit some, everyone is different, but a 20/30 year delayed gratification isn't for me.

bladespin

[Deleted User] wrote: »

But, who wants to spend their 20s to 50s life going from A to B (figuratively speaking) just to get on the golf course at age 50.

I don't smoke and rarely enough drink, but that's not because I'm denying myself for some future pay off... It might suit some, everyone is different, but a 20/30 year delayed gratification isn't for me.

It’s not about delayed gratification though, it’s easy enough to enjoy life and still save, there are always options, feck golf courses, I’d be off to Catalunya on an R1 as soon as I can (yeah nearly 50 now).

Cars alone are great examples, borrow the guts of 30k for the latest and greatest that’s no better than a 6yr old car, unless that’s really your thing then you’re just wasting your dough.

Jim2007

Deleted User wrote: »

But, who wants to spend their 20s to 50s life going from A to B (figuratively speaking) just to get on the golf course at age 50.

Well if yo don't want to be doing it from your 20s to 50s, you'll definitely not want to do it from your 50s to 65/8, that is for sure.

Deleted User wrote: »

I don't smoke and rarely enough drink, but that's not because I'm denying myself for some future pay off... It might suit some, everyone is different, but a 20/30 year delayed gratification isn't for me.

It's not a case of having to trade present enjoyment for the future, it's more a case of spending, saving and investing wisely.

- People buy an awful lot of junk on impulse, that often ends tossed around the house or tossed out without much use in the end. Don't impose buy, do your food shopping in the evenings went they reduce prices, buy second for stuff you only use occasionally and so on. And buy good quality for stuff you use regularly, it will last longer.

- Save regularly, even a small amount and put it out of reach so you can resist the temptation to dip into it.

- Avoid day trading, CFDs and all the other get rich quick investment ideas, they very rarely work out in in the long term. A sensible low risk, reasonable return strategy will suit most people best.

Jim2007

Jim2007 wrote: »

Well if yo don't want to be doing it from your 20s to 50s, you'll definitely not want to do it from your 50s to 65/8, that is for sure.



It's not a case of having to trade present enjoyment for the future, it's more a case of spending, saving and investing wisely.

- People buy an awful lot of junk on impulse, that often ends tossed around the house or tossed out without much use in the end. Don't impose buy, do your food shopping in the evenings went they reduce prices, buy second for stuff you only use occasionally and so on. And buy good quality for stuff you use regularly, it will last longer.

- Save regularly, even a small amount and put it out of reach so you can resist the temptation to dip into it.

- Avoid day trading, CFDs and all the other get rich quick investment ideas, they very rarely work out in in the long term. A sensible low risk, reasonable return strategy will suit most people best.

I think you're looking at this from a person of a certain age, justifying your actions. Fair enough.

Vanishingly few can retire at 50 without having put severe constraints on their 20s to 50s lifestyle. Kids? Who needs them. Don't know if that's you or not, but it would be a good number of those wanting to be "retired" at 50.

I agree with a lot of your other points, but impulse buying makes some people happy. And it's not going to be the deciding factor as to affordability of retiring at 50 rather than in their mid 60s.

Now, I say this as someone who would have a good chance of retiring at 50, from PAYE anyway. So, I'm somewhat contradicting myself, but it's not possible for most people...

bilbot79

[Deleted User] wrote: »

I think you're looking at this from a person of a certain age, justifying your actions. Fair enough.

Vanishingly few can retire at 50 without having put severe constraints on their 20s to 50s lifestyle. Kids? Who needs them. Don't know if that's you or not, but it would be a good number of those wanting to be "retired" at 50.

I agree with a lot of your other points, but impulse buying makes some people happy. And it's not going to be the deciding factor as to affordability of retiring at 50 rather than in their mid 60s.

Now, I say this as someone who would have a good chance of retiring at 50, from PAYE anyway. So, I'm somewhat contradicting myself, but it's not possible for most people...

I think making efforts during your youth to make your older years comfortable is a really good idea. The young person can withstand anything life throws at them, the stresses and rigours of work and relationships. The older person needs to wind down stress, spend time exercising, laughing with friends, having time to think about what they eat etc to preserve their good health for longer. Early retirement is a great idea and worth the sacrifices. Im 42, 140k in the occupational pension and have AVCs + Employer contributions maxed out to input 2809 per month into the fund. This is more than my net salary 5 years ago. I'm harbouring aspirations that interest rates rise in the next 18 years to make annuities good again. I quite enjoy watching the fund build knowing that with every contribution early retirement becomes more guaranteed.

bilbot79

bilbot79 wrote: »

I think making efforts during your youth to make your older years comfortable is a really good idea.

Nobody is going to disagree with that.

IF you can nest away €3k a month and still have a good lifestyle* then more power to you.

*I do realise this is relative. And I've no issue with someone getting a kick out of watching their retirement fund grow. Horses for Courses.

Pussyhands

IT

Salary 54k. On course to have my bank account increase by 24k this year.

I house share, no frills lifestyle, old car etc.

Not tight with money, will eventually splurge on something really nice. No one gives me their money easily or cheaply so I'm not going to give anyone my money easily or cheaply.

masterboy123

https://www.boards.ie/discussion/comment/117863206#Comment_117863206

Great work, pussyhands!

https://www.boards.ie/discussion/comment/117565110#Comment_117565110

Just to the clear this guy never spent foolishly, but he invested in multiple strategies, one of which was getting to as high a level as possible in work. The role he left, he was earning 100k+ a year before bonuses.

Other ways he saved were he cycled daily, brought his lunch to work, didn't waste money on takeaways, camping holidays instead of hotels etc etc etc

He has 4 properties he rents out that he bought during the downturn, and various other investments.

Now, he's sitting on a Lagoon 46 catamaran with his wife and 1 of his 2 kids, in the Bahamas somewhere.

My current strategy has me 6 years younger than him and approximately 8 years away from doing something very, very similar. I'll still work, but max 10 hrs a week once I'm set up.

https://www.boards.ie/discussion/comment/117865694#Comment_117865694

Horses for courses. This looks to suit your lifestyle and therefore perfect for you.

It wouldn't be for me by a long shot.

blue_blue

https://www.boards.ie/discussion/comment/117865694#Comment_117865694

Come back to us in 8 years.

https://www.boards.ie/discussion/comment/117865783#Comment_117865783

No worries, enjoy yours

codrulz

https://www.boards.ie/discussion/comment/117548851#Comment_117548851

Following on from this, accepted a full-time offer for when I graduate next year, €55k+7k signing bonus + yearly bonus which should be 20-30%

LawBoy2018

Trainee solicitor, 45K. Seriously regretting my life choices right now. I requested some annual leave today for December (3 days!), only to be told that we're not allowed to take any annual leave whatsoever in December, despite the fact that I haven't used a single day of my 22 days in total since the beginning of the annual leave term in April... fml

https://www.boards.ie/discussion/comment/118148694#Comment_118148694

They should have been clearer on this when inducting you. Make sure you do take all your annual leave before it's lost. Work with them on this... ask them for a schedule/solution.

Early days yet, good luck.

Jim2007

https://www.boards.ie/discussion/comment/118148694#Comment_118148694

It is not unusual for firms to have busy periods during which you can't take holidays. What were you told at induction, what does it say in your staff handbook or similar documents??? Even a dream job has aspects that people don't like.

On the other hand if that is all it takes to may you question your direction, then perhaps it is something to consider seriously... You will spend a large portion of your live practicing your profession and if it is not where your passions lie, then perhaps it is time to reevaluate.

smillingsam

porn star, its hard as i work with a lot of c#nts, but i managed to work my way from the botton to the top, the job has a lot of up and downs but i usually finish on time which is good.

I get 69 an hour.

LawBoy2018

https://www.boards.ie/discussion/comment/118152666#Comment_118152666

I think it's one of those old fashioned 'rules' passed down by the older generation of lawyers in the firm. Obviously annual leave requests can be approved/rejected based on the particular needs of the firm/department during the year. I just think it's ridiculous for the firm to reject all requests for the full month of December... It seems unreasonable to me.

Jim2007

https://www.boards.ie/discussion/comment/118164490#Comment_118164490

Nothing to do with reasonableness or tradition, just economics. The model is based on having the juniors available to do the work and get the fees in when the opportunity to do so is there. Absolutely no point in paying juniors to sit around twiddling there thumbs only to have them on holidays at the exact time you need them to be working their asses off.

LawBoy2018

https://www.boards.ie/discussion/comment/118165696#Comment_118165696

I disagree. It's far more important for Partners/Senior Associates to be available in December as they actually liaise with debtors and make sure that fees are paid before the new year. The only reason why trainees aren't allowed to take annual leave in December is because that used to be the way back in the day. December is no busier than any other month for a junior solicitor/trainee solicitor.

Geuze

https://www.boards.ie/discussion/comment/118148694#Comment_118148694

So pre-qualification, during their apprenticeship, sols can be on 45k?

That could be at age 24?

That's a good wage.

I have heard of young accountants in Dublin on 45k, but that was just post qualification.

omeara1113

Painter 40,000 per year happy enough

billyhead

https://www.boards.ie/discussion/comment/118165924#Comment_118165924

Is it boring repetitive work though?

LawBoy2018

https://www.boards.ie/discussion/comment/118165905#Comment_118165905

Accountants get shafted.. It's crazy to think that some of the most intelligent graduates in the country who end up in PwC, Deloitte, etc. are paid €25K-30K per year as trainees. All trainees in the top 10 law firms are paid a minimum of €40K per year. I'm paid €45K, which rises to €70K when I qualify.

First year associates in the top firms in London are being paid £100K per year which makes things interesting, as the Irish Law Society and its UK counterpart came to an agreement earlier in the year whereby solicitors are now essentially dual qualified in both jurisdictions. Several colleagues of mine have been headhunted by firms in London and they're loving life across the pond.

Geuze

How many years in college needed before you can start as a trainee at 45k?

BA + LLB = 4 years?

LawBoy2018

https://www.boards.ie/discussion/comment/118165965#Comment_118165965

You actually don't even need a law degree these days, any degree will do. The FE1s are the hard part.. They were easily the worst exams I've ever done. Any degree + FE1s = 5/6 years. The competition for the big firms has gotten quite hairy in recent years though.

antimatterx

Software engineering ~ mid 50s

Skipduke

hostess with the mostest - house rental

circa 25-30k per annum

omeara1113

https://www.boards.ie/discussion/comment/118165954#Comment_118165954

Can be at times but I enjoy my job