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    How much do you have in investments
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    (Original post by TCA2b)
    Was it through contracting? That's a pretty good means of making money and controlling where it goes.
    Basically yes. My last permanent role was ~60k GBP; which is still a lot. But the big jump came when switching to contracting. It's even better in the UK though. Emigrating didn't help my wallet, it's just something I wanted to do.
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    (Original post by Thomazo)
    How much do you have in investments
    I'm very wasteful with that and have focused more on improving my salary than investing the money. The few times I had the right ideas (bitcoin circa 2016), I never acted on them. I have ~90kGBP sitting in banks collecting very little interest. I am probably investing in property soon though. Hopefully this year.
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    (Original post by 7inchman)
    I'm very wasteful with that and have focused more on improving my salary than investing the money. The few times I had the right ideas (bitcoin circa 2016), I never acted on them. I have ~90kGBP sitting in banks collecting very little interest. I am probably investing in property soon though.
    You should read a few books about investing, with that income you can easily become a multimillionaire with minimal effort if you put it in the right places.
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    (Original post by Thomazo)
    You should read a few books about investing, with that income you can easily become a multimillionaire with minimal effort if you put it in the right places.
    Yeah I've realized that recently but been too complacent/scared to change it. Hence why I'm thinking about just putting it in property. Not massively lucrative but should definitely far surpass returns from interest in a bank.
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    (Original post by 7inchman)
    I've started doing contracts, presently I work in Queensland, Australia. I used to work in NZ and am probably doing my next job there. I can't narrow it down to company sorry. I've never worked for a big company though; so I think the idea that to make good money you have to be at a big bank or something isn't correct. It just helps.
    have you seen Picnic at Hanging Rock ?

    :holmes:
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    (Original post by the bear)
    have you seen Picnic at Hanging Rock ?

    :holmes:
    I haven't. Is it a good film?
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    (Original post by 7inchman)
    Yeah I've realized that recently but been too complacent/scared to change it. Hence why I'm thinking about just putting it in property. Not massively lucrative but should definitely far surpass returns from interest in a bank.
    Put some on index funds. Long term, they always go up.

    But no need to take my word for it, try reading Unshakeable by Tony Robbins. He’ll show you why.
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    (Original post by 7inchman)
    I haven't. Is it a good film?
    yes it is bonzer

    :beard:
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    (Original post by 7inchman)
    Yeah I'm 7 inches "tall"
    Why is your name your below size? 7 inches isn't much to brag.
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    (Original post by Thomazo)
    Put some on index funds. Long term, they always go up.

    But no need to take my word for it, try reading Unshakeable by Tony Robbins. He’ll show you why.
    Do you think that beats property? S&P 500 average return is 7% from what I've read. That means a property would have to double it's value over 10 years to match that. Admittedly this would be very good for a property; you'd basically need to pick the next Auckland, Vancouver or Sydney. But then again, property has rental income. I'll read into it more. You an investor?
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    (Original post by 7inchman)
    Basically yes. My last permanent role was ~60k GBP; which is still a lot. But the big jump came when switching to contracting. It's even better in the UK though. Emigrating didn't help my wallet, it's just something I wanted to do.
    It is indeed very lucrative, but unfortunately that may change next year.
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    1. You mentioned average uni, can you name it?

    2. Do you feel your degree helped you get to where you are or could you have managed without it?
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    (Original post by TCA2b)
    It is indeed very lucrative, but unfortunately that may change next year.
    What may change next year? Brexit related? Do you contract?
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    (Original post by HighFructose)
    1. You mentioned average uni, can you name it?

    2. Do you feel your degree helped you get to where you are or could you have managed without it?
    1. Can't name the uni sorry. But I got in with CCC, so it's obviously not one of the top ones
    2. It does push you to study stuff that perhaps a self-taught coder wouldn't study e.g. the math around computer science, the data structures, the algorithms. I do not think it should be 3 years though. Maybe 2 years study and a mandatory 1 year in the industry (placement). Also the 'piece of paper' itself does help. I know a guy who wrote his own C compiler in his spare time. Never went to uni. Very smart guy. But he's in his early 30s now and finally got fed up of being mistreated and ended up going to uni; after much frustration.
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    (Original post by 7inchman)
    What may change next year? Brexit related? Do you contract?
    Changes to legislation which may make end clients leery to take on contractors at current rates... but we'll see, since it may prove very difficult to implement in the private sector.

    I have in the past, unfortunately I don't save nearly as much as I could but even so, as the money is not being forced into rather pointless employment-related frivolities, it gives you a lot more to use how you see fit, which includes investment opportunities.


    (Original post by 7inchman)
    1. Can't name the uni sorry. But I got in with CCC, so it's obviously not one of the top ones
    2. It does push you to study stuff that perhaps a self-taught coder wouldn't study e.g. the math around computer science, the data structures, the algorithms. I do not think it should be 3 years though.
    Hence 1 year conversion courses. I agree though with your comments, it's one reason I am considering such a course. Quite a few devs I've spoken with have said, whilst you can self-teach, you won't have the same technical background someone who studied CS will have and clients do value this. That said, the courses can be taken online but to benefit from anything like the level of teaching you get from a uni you will have to fork out funds.
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    (Original post by 7inchman)
    Do you think that beats property? S&P 500 average return is 7% from what I've read. That means a property would have to double it's value over 10 years to match that. Admittedly this would be very good for a property; you'd basically need to pick the next Auckland, Vancouver or Sydney. But then again, property has rental income. I'll read into it more. You an investor?
    Oh, if that’s true then propery might be even better. I have no experience with property. I’ve done index funds and recently some peer to peer lending.

    Maybe diversify with a bit of both?
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    (Original post by TCA2b)
    Changes to legislation which may make end clients leery to take on contractors at current rates... but we'll see, since it may prove very difficult to implement in the private sector.
    That's news to me. Any links to the new legislation? I know in Australia the government has a few years back put out legislation to cut down on contractors in the public sector.

    (Original post by TCA2b)
    I have in the past, unfortunately I don't save nearly as much as I could but even so, as the money is not being forced into rather pointless employment-related frivolities, it gives you a lot more to use how you see fit, which includes investment opportunities.
    You in IT as well? What sort of work have you had?


    (Original post by TCA2b)
    Hence 1 year conversion courses. I agree though with your comments, it's one reason I am considering such a course. Quite a few devs I've spoken with have said, whilst you can self-teach, you won't have the same technical background someone who studied CS will have and clients do value this. That said, the courses can be taken online but to benefit from anything like the level of teaching you get from a uni you will have to fork out funds.
    Yeah, main issue with self-teaching is motivation to self-teach the 'boring' parts. I find self-teaching coding easy as it's fairly fun. But without uni there is no way I'd have pushed myself to figure out how tree-like containers differ from a hash, or how a 'sort' function works etc. This is just because all that theory stuff is a bit boring. Uni is good cause it forces you to learn it
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    I'm not too familiar with the property market from an investor perspective but some big changes re mortgage interest deductions came in for landlords in 2015 via the tax system, so just be careful to take advice from an accountant as this will have an obvious detrimental effect on any ROI.
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    (Original post by 7inchman)
    That's news to me. Any links to the new legislation? I know in Australia the government has a few years back put out legislation to cut down on contractors in the public sector.
    This. HMT plans to consult on it, so it may or may not happen and may be deferred post-Brexit. Monumentally stupid idea but when has this stopped the govt?

    It's had a horrible effect in the public sector. No one's benefited from it, it's mostly just PR, particularly as "equivalent" public sector employees are hugely expensive.

    You in IT as well? What sort of work have you had?
    Banking. Mainly back office work.

    Yeah, main issue with self-teaching is motivation to self-teach the 'boring' parts. I find self-teaching coding easy as it's fairly fun. But without uni there is no way I'd have pushed myself to figure out how tree-like containers differ from a hash, or how a 'sort' function works etc. This is just because all that theory stuff is a bit boring. Uni is good cause it forces you to learn it
    Yeah, that's the main reason I am considering it. There's also coding specialised courses but they cost nearly the same amount and don't carry the same rep a good uni does, plus the conversion courses are also coding focused anyway. The main saving is in time spent on it but realistically to compress a CS degree you will need about a year to cover the vast body of material, so that's why they're able to deliver faster completion. Personally, if I am going to re-specialise, I would like to get both the coding courses and the CS theoretical element.
 
 
 
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