How much money/happiness
Discussion
How many people hand on heart cant say "Im in my perfect job, earning exactly the amount of money I want/should be earning, and absolutely nothing better exists for me out there"
If there are 10 lucky PHers who can, dont pipe up and spoil the thread
Im guessing maybe 90% of us cant, and out of that 90% maybe 80% of folks would actually take a job change if offered on a silver platter, better money, better people etc etc.
Not everyone can change jobs though, for various reasons. So no need to comment, but for the rest of us? Sorry, I do have a point, and its this...
I believe that half of us (which is possibly 1 person from every family, if both partners work) could, if we really really wanted to, knuckle down, and do what is necessary to find a better job, paying better wages. Might suprise yourself and find it in a month, maybe 3, maybe 9... but find it you will if you set yourself the task of doing so. Sure, there are exceptions to every rule but I digress.
I think the question is why do people always look for excuses why not to, rather than making reasons why they should, and then going for it. all imho of course, not directed to the ph collective, inspired by people I know praps.
If there are 10 lucky PHers who can, dont pipe up and spoil the thread
Im guessing maybe 90% of us cant, and out of that 90% maybe 80% of folks would actually take a job change if offered on a silver platter, better money, better people etc etc. Not everyone can change jobs though, for various reasons. So no need to comment, but for the rest of us? Sorry, I do have a point, and its this...
I believe that half of us (which is possibly 1 person from every family, if both partners work) could, if we really really wanted to, knuckle down, and do what is necessary to find a better job, paying better wages. Might suprise yourself and find it in a month, maybe 3, maybe 9... but find it you will if you set yourself the task of doing so. Sure, there are exceptions to every rule but I digress.
I think the question is why do people always look for excuses why not to, rather than making reasons why they should, and then going for it. all imho of course, not directed to the ph collective, inspired by people I know praps.
I know what you are getting at.
Truth is that 99% of people only operate at maybe 35% of their potential.
We tend to treat life as if it goes on forever. We do not get anywhere near the potential we can, in most cases.
But sometimes, just sometimes, something happens in our lives which shifts the balance. Something is triggered which makes us pull our finger out. Something which makes us motivated to achieve something as if our very lives depended on it.
If this happens, and the person involved gets some breaks, then great things can happen.
Truth is that 99% of people only operate at maybe 35% of their potential.
We tend to treat life as if it goes on forever. We do not get anywhere near the potential we can, in most cases.
But sometimes, just sometimes, something happens in our lives which shifts the balance. Something is triggered which makes us pull our finger out. Something which makes us motivated to achieve something as if our very lives depended on it.
If this happens, and the person involved gets some breaks, then great things can happen.
Today I can see that I do fall into this category. Ive been offered a job which will pay £21k in a nationwide organisation thats going places, they will pay me to go on cool training courses (undreamt of anywhere else before!), and this means I will be moving not only closer into a city I really like (bath), but I will be moving in with a girl who I really like (friend).
v8thunder, take note. I think this is the point where the punishment for going to university ends..
v8thunder, take note. I think this is the point where the punishment for going to university ends..
I know I’ve said it before in various threads, but I’m surprised that more people don’t go self employed. If you can make a go of it, then you’re not accountable to some scroat of a boss, you’re income can reflect your success and you may have a business to sell at the end of it. Obviously there are risks, but that can make for a more exciting life. I’ve always said that “work should be fun”.
anonymous said:
[redacted]
What I do is ignore what I'm good at and think about "the market". So, if something annoys me I think to myself "I can't be the only one with this irritation" so there might be a market for a solution. It could be something as simple as not being able to get a cab at short notice. This tells you that 'demand may exceed supply' - so is there a gap in the market for a taxi business?
I've noticed a lot of people are looking to 'invent' something that no one's thought of. In reality, very few such things ever succeed because you're asking the market to jump through a hoop for the first time.
I'd love to be self employed. Maybe one day I'll work out how to achieve it.
Trouble is that if I'm to maximise my potential, it gets tougher to run the right kind of business. Some people have a training and knowledge which is quite detailed and not that easy to transfer. You can do something easy, but not be running at your potential. You can do something difficult and not have time to make the business run properly.
When you leap, you gamble that your "gear selection" was the right one. Get it wrong and you can end up miserable.
For some of us, if you want to run at your optimum you need the right framework around you. That framework doesn't necassarily come straight off the street.
If you've got it right, good for you. I know I havn't yet. As I move forward I get a clearer and clearer idea of what I do want though.
Trouble is that if I'm to maximise my potential, it gets tougher to run the right kind of business. Some people have a training and knowledge which is quite detailed and not that easy to transfer. You can do something easy, but not be running at your potential. You can do something difficult and not have time to make the business run properly.
When you leap, you gamble that your "gear selection" was the right one. Get it wrong and you can end up miserable.
For some of us, if you want to run at your optimum you need the right framework around you. That framework doesn't necassarily come straight off the street.
If you've got it right, good for you. I know I havn't yet. As I move forward I get a clearer and clearer idea of what I do want though.
toppstuff said:
We tend to treat life as if it goes on forever.
I had a serious wake up call to this fact nearly two years ago, which resulted in my quiting a job I loved which paid very well.
I have a lot less materially but boy do I have a better quality of life, I couldn't be happier.
I can remember a very good saying from somewhere :
"You don't win in life by dying with the most money in the bank ":
in other words : earn enough to do what you want to do in life then do it ... don't spend all your time till you are 60 accumulating wealth for the sake of it - you may then be too old to achieve your dreams in terms of things you wish you had done in life.
For a single person - I reckon a net asset value of c. £1.25 - £1.75 m is enough to live off from investments , AND buy a nice house or 2 (outside of the UK ) - once you are on track for that then get out of the rat-race.
"You don't win in life by dying with the most money in the bank ":
in other words : earn enough to do what you want to do in life then do it ... don't spend all your time till you are 60 accumulating wealth for the sake of it - you may then be too old to achieve your dreams in terms of things you wish you had done in life.
For a single person - I reckon a net asset value of c. £1.25 - £1.75 m is enough to live off from investments , AND buy a nice house or 2 (outside of the UK ) - once you are on track for that then get out of the rat-race.
alfaman said:
I can remember a very good saying from somewhere :
"You don't win in life by dying with the most money in the bank ":
in other words : earn enough to do what you want to do in life then do it ... don't spend all your time till you are 60 accumulating wealth for the sake of it - you may then be too old to achieve your dreams in terms of things you wish you had done in life.
For a single person - I reckon a net asset value of c. £1.25 - £1.75 m is enough to live off from investments , AND buy a nice house or 2 (outside of the UK ) - once you are on track for that then get out of the rat-race.
The main benefit of being your own boss is not the money, it's the 'independence'. You're quite right, if one of my kids was ill and I needed to dispose of all my assets to have him/her cured, I wouldn't think twice. However, I'd like to think that I'd have enough gumption to start over again.
alfaman said:
I reckon a net asset value of c. £1.25 - £1.75 m is enough to live off from investments , AND buy a nice house or 2 (outside of the UK ) - once you are on track for that then get out of the rat-race.
No, thats peanuts..
to live very well, you need 5 to 6 million of assets + your house/s
Me Julie just took a £4K pay cut and demoted herself from Manager to Secretary to come and live with me... not because she hated the last job, but the tossers in higher management who seemed unable to let her do the job she was paid for.
She now comes home with a smile instead of a frown, which makes me happier.
Incidentally, her actual take-home pay hasn't reduced as much as you might expect, but you should see how much less tax & NI she pays - which can only be a good thing! Maybe that's the answer to Blair and co: we all take a pay cut and they get less of it to waste...
As for me, I'm past caring. I missed out on the career ladder - well, OK, I resigned from it, I could have been a bank manager by now - and nowadays I'd rather have less grief than more money.
Yes, a 'better' TVR would be nice, but what the hell? I figure the more you have, the more you have to lose...
She now comes home with a smile instead of a frown, which makes me happier.
Incidentally, her actual take-home pay hasn't reduced as much as you might expect, but you should see how much less tax & NI she pays - which can only be a good thing! Maybe that's the answer to Blair and co: we all take a pay cut and they get less of it to waste...
As for me, I'm past caring. I missed out on the career ladder - well, OK, I resigned from it, I could have been a bank manager by now
- and nowadays I'd rather have less grief than more money. Yes, a 'better' TVR would be nice, but what the hell? I figure the more you have, the more you have to lose...
lanciachris said:
Today I can see that I do fall into this category. Ive been offered a job which will pay £21k in a nationwide organisation thats going places, they will pay me to go on cool training courses (undreamt of anywhere else before!), and this means I will be moving not only closer into a city I really like (bath), but I will be moving in with a girl who I really like (friend).
v8thunder, take note. I think this is the point where the punishment for going to university ends..
Point taken - can't wait!
vixpy1 said:
I reckon a net asset value of c. £1.25 - £1.75 m is enough to live off from investments , AND buy a nice house or 2 (outside of the UK ) - once you are on track for that then get out of the rat-race.
No, thats peanuts..
to live very well, you need 5 to 6 million of assets + your house/s
It's not a case of net assets, it's a case of 'cash generation'. The whole purpose of assets is to generate money - you could own the moon, but it wouldn't give you an income. It's the "return on capital employed" that's important - not the assets themselves. So, when analysing how much you need to live on you need to look at what yearly income you need, and then acquire and arrange your assets to deliver such an income. Different people will have different ideas as to the level of this, depending on their personal circumstances and aspirations.
srebbe64 said:
It's not a case of net assets, it's a case of 'cash generation'. The whole purpose of assets is to generate money - you could own the moon, but it wouldn't give you an income. It's the "return on capital employed" that's important - not the assets themselves. So, when analysing how much you need to live on you need to look at what yearly income you need, and then acquire and arrange your assets to deliver such an income. Different people will have different ideas as to the level of this, depending on their personal circumstances and aspirations.
Yes, I took that as a given.
vixpy1 said:
I reckon a net asset value of c. £1.25 - £1.75 m is enough to live off from investments , AND buy a nice house or 2 (outside of the UK ) - once you are on track for that then get out of the rat-race.
No, thats peanuts..
to live very well, you need 5 to 6 million of assets + your house/s
Hmmmm - 5 mill would generate an "inflation proofed" annual income of c. £200 k (@4 % )- from financial assets - do you honestly need that much per annum with no mortgage ?- and then die with £5m in the bank - why ?
(does living very well include private jets and helicopters ? )
Once you have bought your house(s)- and aren't working you dont need to live in the high-tax/high-cost UK - you can live most of the year overseas , where you can live quite comfortably on (say) $50 -$80k US.
srebbe64 said:
I reckon a net asset value of c. £1.25 - £1.75 m is enough to live off from investments , AND buy a nice house or 2 (outside of the UK ) - once you are on track for that then get out of the rat-race.
No, thats peanuts..
to live very well, you need 5 to 6 million of assets + your house/s
It's not a case of net assets, it's a case of 'cash generation'. The whole purpose of assets is to generate money - you could own the moon, but it wouldn't give you an income. It's the "return on capital employed" that's important - not the assets themselves. So, when analysing how much you need to live on you need to look at what yearly income you need, and then acquire and arrange your assets to deliver such an income. Different people will have different ideas as to the level of this, depending on their personal circumstances and aspirations.
Personally I'd live on a "Fiver a week" for a year or two, if I knew the working capital would YIELD.
alfaman said:
Hmmmm - 5 mill would generate an "inflation proofed" annual income of c. £200 k (@4 % )- from financial assets - do you honestly need that much per annum with no mortgage ?- and then die with £5m in the bank - why ?
(does living very well include private jets and helicopters ? )
Once you have bought your house(s)- and aren't working you dont need to live in the high-tax/high-cost UK - you can live most of the year overseas , where you can live quite comfortably on (say) $50 -$80k US.
yea, but i have no wish to live comfatably. I do that already, and i never spend my capital, not even when i'm old, it gets passed down.
Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff