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What's your ideal final job and income? watch

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    If everything fell into place for you in the future, when you're nearing retirement, what would you say would be your ideal job level/title and total income at that point?

    What about net worth?
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    £100k
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    Director- Investment (FICC) Research division of a bank (£150000)
    Or
    Economic consultant (£75000)
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    (Original post by squish562)
    £100k
    job + level/title too mate

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    (Original post by Princepieman)
    If everything fell into place for you in the future, when you're nearing retirement, what would you say would be your ideal job level/title and total income at that point?

    What about net worth?
    By the time I get to retirement, retirement age will be closer to 70. I will have spent at least 15 years winding down my career, not earning as much as I previously had, choosing lifestyle over a job.

    Ideally I will have some overseas property and living off renting it out to tourists. As long as my assets are enough to get me through retirement, which in today's money is going to be roughly £600k based on living for 20 years post retirement, I'll be more than happy.


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    (Original post by J-SP)
    By the time I get to retirement, retirement age will be closer to 70. I will have spent at least 15 years winding down my career, not earning as much as I previously had, choosing lifestyle over a job.

    Ideally I will have some overseas property and living off renting it out to tourists. As long as my assets are enough to get me through retirement, which in today's money is going to be roughly £600k based on living for 20 years post retirement, I'll be more than happy.


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    Interesting. How did you get to the £600k mark? What % return are you aiming for on that?

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    (Original post by Princepieman)
    job + level/title too mate

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    The plan is Big4 audit, get the ACA, exit into industry, get promoted and become a Finance Director.
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    (Original post by squish562)
    The plan is Big4 audit, get the ACA, exit into industry, get promoted and become a Finance Director.
    Solid plan

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    (Original post by Princepieman)
    Interesting. How did you get to the £600k mark? What % return are you aiming for on that?

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    I'm not aiming for any return on it - that's just what I would need if I was approaching retirement (in today's money).

    £30k a year x 20 years - suggesting I will retire at 70 and live to 90.

    If I have a £30k tax free income that will be plenty to live off. I've made the assumption that either there won't be a state pension or I won't be eligible for it. So hopefully that value (well equivalent value to today's money) will be in savings and property. I'm not far off that now, so it's just a case of adding to really so over time I can maintain it. I'm not far off it now, but expect to be dipping into it in my fifties and sixties when I choose to effectively semi retire.


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    Either trading at a bank -> Hedge fund
    Or trading at a bank -> PGCE -> Maths Teacher

    Of course these plans might change.
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    (Original post by Princepieman)
    If everything fell into place for you in the future, when you're nearing retirement, what would you say would be your ideal job level/title and total income at that point?

    What about net worth?

    Meh still not sure what i really want to do so ill say that i would need a good salary to buy some expensive stuff lets say i wouls be happy with 60k a year tbh, higher than that would be cool but not essential. Then I need to be doing something that I enjoy, putting stuff out that will be of use to people and then getting the reward (people thanking you).

    Ome day I will find my ideal job, i have an idea but it doesnt pay well i think
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    (Original post by J-SP)
    I'm not aiming for any return on it - that's just what I would need if I was approaching retirement (in today's money).

    £30k a year x 20 years - suggesting I will retire at 70 and live to 90.

    If I have a £30k tax free income that will be plenty to live off. I've made the assumption that either there won't be a state pension or I won't be eligible for it. So hopefully that value (well equivalent value to today's money) will be in savings and property. I'm not far off that now, so it's just a case of adding to really so over time I can maintain it. I'm not far off it now, but expect to be dipping into it in my fifties and sixties when I choose to effectively semi retire.


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    Fair play. So your gross amount is assuming you make enough from investing that capital to preserve ~£600k in today's pounds?

    How would it be tax free, out of interest? Do you not pay tax on retirement income?

    Congrats on getting close to your number though, that's a great effort!

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    (Original post by SuperHuman98)
    Meh still not sure what i really want to do so ill say that i would need a good salary to buy some expensive stuff lets say i wouls be happy with 60k a year tbh, higher than that would be cool but not essential. Then I need to be doing something that I enjoy, putting stuff out that will be of use to people and then getting the reward (people thanking you).

    Ome day I will find my ideal job, i have an idea but it doesnt pay well i think
    That's fair. Money isn't and shouldn't be everything in life, go for whatever career you think you'll enjoy most.

    You never know, you may end up being successful with the right attitude


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    (Original post by Princepieman)
    If everything fell into place for you in the future, when you're nearing retirement, what would you say would be your ideal job level/title and total income at that point?

    What about net worth?
    CEO - Millionz
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    Work for a blue chip firm / FinTech. Gradually go through the ranks and build up relationships / cliental and of course experience.

    >> Build and start my own Tech start up . Salary: In the region of 75-100k as well an paying corporation tax.
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    Population geneticist/Bioinformatician. I'm still relatively undecided. If I go into academia, I would like to answer questions about our early history using genetics, and hopefully we can develop techniques that will help us infer more about our recent history.

    The other option is to go the bioinformatics route, get a masters/PhD that will teach me how to code and use those skills to organise and analyse big data. From there, I'd either stay in biology as a bioinformatician or move into industry as Data Scientist or possibly Strategy consulting (via the PhD route).
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    (Original post by Princepieman)
    Fair play. So your gross amount is assuming you make enough from investing that capital to preserve ~£600k in today's pounds?

    How would it be tax free, out of interest? Do you not pay tax on retirement income?

    Congrats on getting close to your number though, that's a great effort!

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    The rental income would be taxed, although depends on where the property is (not expecting it to be in the UK).

    If I came to sell my property in the UK, then I wouldn't be taxed as I live in it (based on current rules anyway). Only the interest earned from savings would be taxed, rather than any savings accounts themselves. So the set of assets I expect to have wouldn't be taxed as such.




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    Final job? Science teacher at a secondary school. Maybe for 5-6 years, so the salary most likely won't go over £30k.

    I don't really care about having a net worth
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    (Original post by Akamega)
    Population geneticist/Bioinformatician. I'm still relatively undecided. If I go into academia, I would like to answer questions about our early history using genetics, and hopefully we can develop techniques that will help us infer more about our recent history.

    The other option is to go the bioinformatics route, get a masters/PhD that will teach me how to code and use those skills to organise and analyse big data. From there, I'd either stay in biology as a bioinformatician or move into industry as Data Scientist or possibly Strategy consulting (via the PhD route).
    Wow, really interesting ambition and you seemed to have done your research about what's available to you too. (e.g. not many people know about consulting or data science careers being available to them after studying a scientific discipline - most just assume it's teaching or research).

    Best of luck to you, I'm sure you'll get to your eventual goal

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    My ideal job is an author, and income? Enough that I can live comfortably while doing what I love.
 
 
 
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