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    (Original post by Nomes89)
    Ok you've decided to be exacting, think it's quite obvious I meant owning a nice size house and car is attainable. The house being detached is such an irrelevance I feel you've missed the gist of what he was saying too. Even so, I think I've just shown it is possible seeing as the people I know have done as much as they have on half your salary and aren't above 25. With a little more money then yes they could afford a more expensive car and slightly bigger house in a few years if they wanted. Around £50K in 8 years is not insurmountable on a half decent salary and maybe I didn't see the part where the poster said his uncle did it all by himself, not sure that was stipulated. Again not sure that's relevant unless he weirdly has an express desire to be the sole provider.

    Besides it is you who has missed my original point. £50k is in fact a possibility and is one only if you move out of a high cost area. People want sky high salaries because they're imagining the cost of a four bed in London. One way of saving money is moving out the area which effectively reduces most of your monthly outgoings.

    You don't need it broken down any more than that.
    Being the sole provider is pretty much the whole point of what they were saying. Not too long ago all of that could be done whilst being the sole provider, having duel income then would have given even more.

    What have your mates under 25 and on under £25k got? A four bedroom house, above average car, paid for a wedding and are bringing up 2+ kids?

    £50k in eight years is £520/month, lets call it £500. Take home pay of someone on £25k is £1,660 - saving 30% of your net pay is quite a savings rate you're suggesting.

    I'm not imagining a four bed house in London (like will2348's uncle bought) I was suggesting somewhere like Worksop as you said it could be done out of London. But as you move to cheaper housing areas the likelihood of a job that pays as well reduces, there is a balance to be had there.
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    (Original post by Quady)
    Please bear in mind it was the poster 'will2348' who outlined the example of their uncle. You seem to have forgotten that. Or are you now saying (when confronted with todays capital requirement) that you were wrong earlier and it isn't feasible?

    I asked if you could outline how they would save. How can they save that amount of cash by 30? Could you illustrate an example?
    I did it on a fairly "average" salary. Had a flat in zone 2 in London by the time I was 30 and that was on a single income. And that's with a fairly comfortable lifestyle (3 holidays a year, regular nights out).




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    (Original post by J-SP)
    I did it on a fairly "average" salary. Had a flat in zone 2 in London by the time I was 30 and that was on a single income. And that's with a fairly comfortable lifestyle (3 holidays a year, regular nights out).




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    With car and kids?

    Although tbh, a zone 2 place on circa £28k is pretty impressive going on its own.
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    (Original post by Quady)
    With car and kids?

    Although tbh, a zone 2 place on circa £28k is pretty impressive going on its own.
    Car yes. Kids no. But if I had kids, i would expect to be on a dual income.

    But my expectations for things are probably much lower that a lot of people on here. I'd never buy a £25k car (unless I had the money spare) and I would never plan a wedding that cost £50k. I've enjoy the fine things in life but I don't waste a lot of money buying unnecessary things.


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    Because money is simply one of many resources we have in our lives - other resources might be time, people/relationships, knowledge. Generally in order to acquire lots of one you have to sacrifice at least some of the rest. It all depends on which you value most. When you're making megabucks working in banking or law (where if your work week is only 60 hours you count yourself lucky, and where you're constantly on call even if you're attending the dual event of your mother's funeral and daughter's wedding on Christmas Day), that money doesn't come free - you sacrifice time, relationships and quite likely your health too. Plus the banking industry can be unstable.

    Basically not everyone wants to spend their twenties working all hours of the day and sacrificing their agency. The happiest people I've met are people who make a pittance but spend every day doing what they love (and are frequently their own boss) - ski/snowboard instructors, park rangers, wildlife handlers etc.
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    How are these **** boys making this **** philosophical?
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    (Original post by Quady)
    Being the sole provider is pretty much the whole point of what they were saying. Not too long ago all of that could be done whilst being the sole provider, having duel income then would have given even more.

    What have your mates under 25 and on under £25k got? A four bedroom house, above average car, paid for a wedding and are bringing up 2+ kids?

    £50k in eight years is £520/month, lets call it £500. Take home pay of someone on £25k is £1,660 - saving 30% of your net pay is quite a savings rate you're suggesting.

    I'm not imagining a four bed house in London (like will2348's uncle bought) I was suggesting somewhere like Worksop as you said it could be done out of London. But as you move to cheaper housing areas the likelihood of a job that pays as well reduces, there is a balance to be had there.
    I don't know where you got that impression from, most guys want to be the main provider yes. Few people want a wife that does nothing. Like I said the general gist is that people want to be able to own a nice house and car and take care of their family comfortably.

    Saving £500 a month on a £25k is not easy and will take discipline but definitely doable but only when you're not paying £600-700 on housing, £100 on travel at least on top of expensive weekend socialising that more than likely necessitates a taxi at the end of the night. This is the very essence of what I'm saying. You have absolutely no chance if you're in London and a chance when you live somewhere else. It's unlikely the salary would remain at 25k in those 8 years as well so saving would get easier over time. Salaries above £60,000 are harder to come by but £30-40k is definitely standard for managerial roles.
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    One reason is because most people that work in the industries that you mentioned; investment banking and law, must give up their whole livelihood to work if they want to earn above £50k. Believe it or not, some people don't want to exchange their freedom and physical and mental health to make more money than they actually need.

    'Money' has no inherent value or connection to human beings. It's simply a means of currency to trade with.

    I find it difficult to believe that you don't understand why someone would rather be a teacher than an investment banker or lawyer.
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    (Original post by JFOT)
    One reason is because most people that work in the industries that you mentioned; investment banking and law, must give up their whole livelihood to work if they want to earn above £50k. Believe it or not, some people don't want to exchange their freedom and physical and mental health to make more money than they actually need.

    'Money' has no inherent value or connection to human beings. It's simply a means of currency to trade with.

    I find it difficult to believe that you don't understand why someone would rather be a teacher than an investment banker or lawyer.
    Personally, what is the point in having free time if everything becomes too expensive for you to do/end up with financial strees/getting into debt - it can be very destabilising for families/relationships.

    I'd rather work my ass off for five years or whatever, and then put the money aside, leave and take something else a bit more chilled but with similar/marginally lower pay after about 27-30.

    When you're young and starting a family (or soon to be), you have utterly huge outgoings. It makes sense to work hardest when you're young and then take something not so demanding when you're slightly older. It just makes more logical sense to me and gives you more options (in the case of IB/Law). Some of them go and become teachers, you can't really do it the other way round.

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    (Original post by will2348)
    Personally, what is the point in having free time if everything becomes too expensive for you to do/end up with financial strees/getting into debt - it can be very destabilising for families/relationships.

    I'd rather work my ass off for five years or whatever, and then put the money aside, leave and take something else a bit more chilled but with similar/marginally lower pay after about 27-30.

    When you're young and starting a family (or soon to be), you have utterly huge outgoings. It makes sense to work hardest when you're young and then take something not so demanding when you're slightly older. It just makes more logical sense to me and gives you more options (in the case of IB/Law). Some of them go and become teachers, you can't really do it the other way round.

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    If it was as simple as 'work my ass off for 5 years' I think everyone would like that. Unfortunately, life isn't that simple.

    To even qualify as a lawyer it takes 5 years.

    Nevertheless, the idea of working hard to earn a lot of money while young to have a better life later on is obviously an effective one.
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    (Original post by will2348)
    Personally, what is the point in having free time if everything becomes too expensive for you to do/end up with financial strees/getting into debt - it can be very destabilising for families/relationships.

    I'd rather work my ass off for five years or whatever, and then put the money aside, leave and take something else a bit more chilled but with similar/marginally lower pay after about 27-30.

    When you're young and starting a family (or soon to be), you have utterly huge outgoings. It makes sense to work hardest when you're young and then take something not so demanding when you're slightly older. It just makes more logical sense to me and gives you more options (in the case of IB/Law). Some of them go and become teachers, you can't really do it the other way round.

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    Are you implying that people outside of IB/Law can never afford anything nice, can't support their families and can't enjoy themselves due to crippling poverty? Surprise: you don't have to be on six figures to be able to support a family and afford nice things.
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    I cut my wages from 42k to 20 and I'm infinitely happier than I was. Working 65-70 hour weeks doing something you hate is not worth the money. And thats coming from a 22 year old graduate.
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    (Original post by hawkesy_10)
    I cut my wages from 42k to 20 and I'm infinitely happier than I was. Working 65-70 hour weeks doing something you hate is not worth the money. And thats coming from a 22 year old graduate.
    What profession did you go from to into?
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    (Original post by hawkesy_10)
    I cut my wages from 42k to 20 and I'm infinitely happier than I was. Working 65-70 hour weeks doing something you hate is not worth the money. And thats coming from a 22 year old graduate.
    Exactly, title says well paid but for professions like IB/Law etc you work a lot more hours than the average which represents what you get paid, I mean go ahead if you enjoy doing that, but for me and many others, I can't spend that many hours doing something I don't like.
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    I want to earn £21,000 > x > £20,000 for the first 30 years after my graduation from university just so that I don't pay back even a penny of my tuition fees. Earning below £21,000 will not count as being in student debt technically, or am I wrong?
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    (Original post by Raymat)
    I want to earn £21,000 > x > £20,000 for the first 30 years after my graduation from university just so that I don't pay back even a penny of my tuition fees. Earning below £21,000 will not count as being in student debt technically, or am I wrong?
    You'd be in student debt, just not making repayments.

    Why don't you earn less than £10,600 then you don't pay back a penny of income tax either? Which is way higher.
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    I was on the Aldi graduate scheme so working in retail management then moved into sports development with the RFU. It's a long-term career move into something I'm passionate about. High wages are no good when it makes you miserable earning them.
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    (Original post by Abdul-Karim)
    I really find it hard to understand why people go for low paid jobs when they seem to have the intellectual capability to aim for industries which are relatively well-paid.

    I see students who have the credentials and the profile potential to enter industries such as law, investment banking being etc.. but instead choose to go into places such as teaching. Are they just lazy?

    So if you do intend to get out of bed for a job that pays less than £50k a year and you're smart (i.e flawless grades/credible uni/strong ECs), why? what's your motivation?

    inb4, "it's my passion".
    My goal is self fulfillment....what's your problem with that? I care more that I do something that interests me. If I get to travel Scandinavia doing research but I only earn £20k a year, that would be perfect for me. Don't get me wrong I do want to earn as much as I can, but it's not the main priority. Everyone is different
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    (Original post by Quady)
    You'd be in student debt, just not making repayments.

    Why don't you earn less than £10,600 then you don't pay back a penny of income tax either? Which is way higher.
    Would a graduate's student debt cancel if they died within those 30 years?
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    (Original post by Raymat)
    Would a graduate's student debt cancel if they died within those 30 years?
    Yes, it's unsecured, is it not?

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