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<a https://www.thestudentroom.co.uk/showthread.php?t=7467335'> Year 12s: what will be the first way you research your future options? >>
<a https://www.thestudentroom.co.uk/showthread.php?t=7467335'> Year 12s: what will be the first way you research your future options? >>
<a https://www.thestudentroom.co.uk/showthread.php?t=7467335'> Year 12s: what will be the first way you research your future options? >>

desired salary in life?

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60, 000 post tax would be nice.
Original post by Reue
45k in the next couple of years. rising to a peak of perhaps 55k before taking early retirement.

early retirement how yeh plan to fund that:?
22 - 50k
23 - Promotion, now at 100k
25 - Successfully earn the trust of a senior employee before stabbing them in the back, taking their place, 500k
35 - Unimaginably rich, net worth probably about 1.3 trillion.
38 - Invade the Czech Republic and Slovakia with my private army
40 - Invade Denmark, France, Norway, Netherlands, Poland and a few others I can't be bothered to list.
45 - Sit on my throne as emperor of Europe.
50 - Go toe to toe with the Un meister.

Got a bit carried away, sorry.
(edited 9 years ago)
Basically with me.

22. 30k
23. 40k.
25. 60k.

30. 100k+
40k at least ((i hop3))
Enough to live comfortably, go on holidays when i want, shop without looking at the price tag, buy gifts for friends and family and own a flashy car

Posted from TSR Mobile
Reply 85
Avatar for Reue
Reue
20
Original post by trustmeimlying1
early retirement how yeh plan to fund that:?


Paid off mortgage and enough investments to sustain my expenses.
Original post by AsandaLFC
How are u struggling with 24k ? Do u have 6 kids ?

Posted from TSR Mobile


Works out about £1600 take home a month after tax:

Rent on flat = 1050 PCM
Car insurance = 380 PCM (Joys of being a new driver)

Now do you see why I'm struggling....
(edited 9 years ago)
Reply 87
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kka25
18
Original post by Reue
45k in the next couple of years. rising to a peak of perhaps 55k before taking early retirement.


Do you think that's enough for retirement? I mean, how much would you have to draw a month after an early retirement?
Reply 88
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kka25
18
Original post by i.am.lost
Honestly the biggest dilemma of my life - to step away from a promising consulting career and double my pay, or stick it out in my chosen profession. Gonna need to decide next month, and I know whichever I choose I'll end up blaming myself for an unwise choice!


This is my dilemma as well really : /

How are you making the decisions at the moment?
Reply 89
Avatar for Reue
Reue
20
Original post by kka25
Do you think that's enough for retirement? I mean, how much would you have to draw a month after an early retirement?


Assuming the mortgage is paid off; probably no more than about £600 a month.
Original post by kka25
This is my dilemma as well really : /

How are you making the decisions at the moment?

I'm struggling to decide, every few days I flip-flop. Why can't I have the best of both worlds?! :tongue:

This probably won't help you with yours, but my firm had nominated me for an industry award (sort of like our less-glamorous Oscars) and in two weeks I'm due to find out if the association has shortlisted me. I'm thinking if I'm on the shortlist, then it's probably an indication I have a bright future in my profession and I should stay. Otherwise I will just bite the bullet and go for the career change to enjoy way more money for less stressful work.

Good luck with your situation, hope it works out well. :smile:
Work up to £80k - £100k. Then after staying on that for a few years, I'll start my own thing.
Original post by Ryan_Anthony_
Works out about £1600 take home a month after tax:

Rent on flat = 1050 PCM
Car insurance = 380 PCM (Joys of being a new driver)

Now do you see why I'm struggling....


I'm guessing you live alone? Either move somewhere cheaper or house share. You don't need to spend anywhere near that much on rent.
(edited 9 years ago)
Reply 93
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kka25
18
Original post by Reue
Assuming the mortgage is paid off; probably no more than about £600 a month.


Mortgage is a pain isn't it? I don't have one (yet) but it's just a pain even planning it really.

Let's say I'm you now (without the £55k peak):

Assuming I'm making £40k per annum, and I saved around £1000 per month. So assuming I've been working for 20 years, so that's £1000*20 = £20000. Now say that I'm already 60 years old and I drew £600 per month for 30 years so that's £18000. With a balance of £2000 left, and I'm 80 years old, I'd have around 3 years to spend what's left of my savings.

I do wonder what's going to happen afterwards : /
Original post by kka25
Mortgage is a pain isn't it? I don't have one (yet) but it's just a pain even planning it really.

Let's say I'm you now (without the £55k peak):

Assuming I'm making £40k per annum, and I saved around £1000 per month. So assuming I've been working for 20 years, so that's £1000*20 = £20000. Now say that I'm already 60 years old and I drew £600 per month for 30 years so that's £18000. With a balance of £2000 left, and I'm 80 years old, I'd have around 3 years to spend what's left of my savings.

I do wonder what's going to happen afterwards : /


Compound interest or returns on investment may average 5% for example. You'd also sell your property or transfer the asset to your children and have them borrow against it.

I'd say you'll be fine.
Reply 95
Avatar for Reue
Reue
20
Original post by kka25
Mortgage is a pain isn't it? I don't have one (yet) but it's just a pain even planning it really.

Let's say I'm you now (without the £55k peak):

Assuming I'm making £40k per annum, and I saved around £1000 per month. So assuming I've been working for 20 years, so that's £1000*20 = £20000. Now say that I'm already 60 years old and I drew £600 per month for 30 years so that's £18000. With a balance of £2000 left, and I'm 80 years old, I'd have around 3 years to spend what's left of my savings.

I do wonder what's going to happen afterwards : /


You've ignored investment returns and a pension kicking in from 55 with state pension at 67 as well.
Original post by Ryan_Anthony_
Works out about £1600 take home a month after tax:

Rent on flat = 1050 PCM
Car insurance = 380 PCM (Joys of being a new driver)

Now do you see why I'm struggling....


And on top of that for most people would be student loan repayments which kick in at £15,000 for me (old system).
They're getting towards £100 PCM once you're on 25k.
It's perfectly easy to struggle at anything under £30k especially if running a car.
Original post by hellodave5
Their average salary is way below that - about 27k - though goes up with experience


A Big 4 Graduate in London get 27 K. After qualification you can easily earn 45-55 K.
A lot of deluded people in this thread.

Most people won't ever see £30k+, regardless of how rich your parents were.
22- £27,000
23- £29,000
24- £31,000
25- £50,000
26- £56,000
27- £60,000
28- £1,100,000
29- £2,300,000
30- £110,000,000
31- £4,234,349,000.49
32- £236,000,000,000.25
33- Illuminati Status.

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