What do you do for a living?
Discussion
T3CH said:
I know this can be a sensitive subject for some but I was wondering what you fellow PHers do for a living? If you would like to share what sort of annual income you receive then please do but if you'd rather keep that private then no worries at all.
Some members can afford to buy and maintain some of the most expensive and luxurious cars in the world and I was wondering what line of work made that possible for them.
I am in my mid twenties and when all is said and done I only net around £18k a year and I would consider that a fair amount for the level of skill I am at as a film technician. However it seems almost impossible that in my lifetime I would be able to afford the likes of a super car, without winning the lottery anyways! Never mind putting down a deposit for a mortgage and affording to raise a family!
Thank you and I look forward to your replies.
Doesn't matter what you do, if you keep your eyes and ears open and are ambitious and determined enough sooner or later an opportunity will emerge that you can capitalise on. I'd guess that most people on here who've made any kind of vaguely serious money would fit that mould one way or another myself included. Doesn't matter whether it's film, finance, tech or men's shoes. There's money in everything if you're alive to that moment where you spot an edge or an angle and are prepared to go for it.Some members can afford to buy and maintain some of the most expensive and luxurious cars in the world and I was wondering what line of work made that possible for them.
I am in my mid twenties and when all is said and done I only net around £18k a year and I would consider that a fair amount for the level of skill I am at as a film technician. However it seems almost impossible that in my lifetime I would be able to afford the likes of a super car, without winning the lottery anyways! Never mind putting down a deposit for a mortgage and affording to raise a family!
Thank you and I look forward to your replies.
You're asking the wrong question, as the poster above a has said. It doesn't matter what you do, more important is how you do it.
As an employee, you have practically no chance whatsoever. You may have job security and freedom from the anxiety that running a business and managing people brings but you are always going to be a cost to your employer and they will try and minimise that cost. Businesses are run for the benefit of shareholders, not employees.
To make money you need to be the business owner and to avoid paying it all away in tax you need to be a business owner.
Simple example, if you earned £1m in a year as an employee you would pay £450,000 in income tax.
If you sold a business for £1m you would pay £100,000 in tax under the Entrepreneur's tax relief. That's not a tax dodge, that's the Government incentivising people to build businesses.
Start a business, employ people, create jobs, work on the business, not in it. You'll have that Lambo in two years!
As an employee, you have practically no chance whatsoever. You may have job security and freedom from the anxiety that running a business and managing people brings but you are always going to be a cost to your employer and they will try and minimise that cost. Businesses are run for the benefit of shareholders, not employees.
To make money you need to be the business owner and to avoid paying it all away in tax you need to be a business owner.
Simple example, if you earned £1m in a year as an employee you would pay £450,000 in income tax.
If you sold a business for £1m you would pay £100,000 in tax under the Entrepreneur's tax relief. That's not a tax dodge, that's the Government incentivising people to build businesses.
Start a business, employ people, create jobs, work on the business, not in it. You'll have that Lambo in two years!
Very few people have a supercar; PH is not representative of the population so don't be too hard on yourself if you don't get one.
As has been said, you're unlikely to get rich working for someone else. But to work for yourself you need to have a certain level of naus, spark, grit and determination - to market, to sell, to do the job, do the admin and get paid - all before you count the money. Not everyone has the marbles to do it/stick with it/make it work.
I'd suggest that a house and family are more important than a supercar, but you need to find/set objectives and work out how to achieve them.
As has been said, you're unlikely to get rich working for someone else. But to work for yourself you need to have a certain level of naus, spark, grit and determination - to market, to sell, to do the job, do the admin and get paid - all before you count the money. Not everyone has the marbles to do it/stick with it/make it work.
I'd suggest that a house and family are more important than a supercar, but you need to find/set objectives and work out how to achieve them.
You can get a decent Gallardo for 70k , simple method -
Sell around 50 items on EBAY for around £3.50 profit a pop x 365 days , simple.
There are millions of products to pick from.
Good luck .
PS> If you can't work out how to do that then forget the SC.
Sell around 50 items on EBAY for around £3.50 profit a pop x 365 days , simple.
There are millions of products to pick from.
Good luck .
PS> If you can't work out how to do that then forget the SC.
Edited by superkartracer on Friday 12th May 21:05
tty Warwickshire.I run www.lockyers.co.uk and earn 6k a year.....that's not the reason the supercars have gone...I got kids now
I own/run www.m32guy.co.uk, we specialise in rebuilding gearboxes
It doesn't matter what anyone does for a living.
There are a million and one ways to own a supercar
You're asking because you want to know what people do to afford super cars in the hope you'll get an answer that satisfies you. But there is no one-size-fits-all answer.
Almost every single thing you look at and interact with on a daily basis has made someone, somewhere, a millionaire. In various steps of the supply chain too. (i.e there are plenty of builders who've become millionaires building houses, there will equally be plenty of millionaires who supply building materials, then again for people who make building materials... etc...)
The fact is, and it's already been mentioned... but you're only likely to achieve this success (be it financial or freedom) by creating and owning a business that adds value in whatever it does and is executed correctly.
If your primary goal is to own a super car (and trust me, mine was too!) then good news! it's pretty easy.
Work a full time job, create a sideline business that makes an extra £10-15k a year and spend every evening, weekend and morning working on it. Save for 5-10 years for a deposit and you'll probably be able to buy an old R8 on finance... you'll have no time to drive it though as you'll be working flat out to afford the repayments.
So your best bet is to either create a business and execute well or become a high-level executive in a big company with a mid 6 figure salary.
There are a million and one ways to own a supercar
You're asking because you want to know what people do to afford super cars in the hope you'll get an answer that satisfies you. But there is no one-size-fits-all answer.
Almost every single thing you look at and interact with on a daily basis has made someone, somewhere, a millionaire. In various steps of the supply chain too. (i.e there are plenty of builders who've become millionaires building houses, there will equally be plenty of millionaires who supply building materials, then again for people who make building materials... etc...)
The fact is, and it's already been mentioned... but you're only likely to achieve this success (be it financial or freedom) by creating and owning a business that adds value in whatever it does and is executed correctly.
If your primary goal is to own a super car (and trust me, mine was too!) then good news! it's pretty easy.
Work a full time job, create a sideline business that makes an extra £10-15k a year and spend every evening, weekend and morning working on it. Save for 5-10 years for a deposit and you'll probably be able to buy an old R8 on finance... you'll have no time to drive it though as you'll be working flat out to afford the repayments.
So your best bet is to either create a business and execute well or become a high-level executive in a big company with a mid 6 figure salary.
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