how important are savings?

calypso_rhapsody

You already have 3 year's spending saved up so in theory (assuming your sums are right) you could take a chance and change career path now. But take your time and think about the options.

Are there jobs (your boss's??) in your company that you feel you would enjoy and may be able to move into in due course? i don't know anything about your industry but i am sure there must be roles you could look at.

It's a question of matching your skills and preferences to opportunities that are either there now or may be in the future ... Good luck!

I was amazed at the number of thank yous to my last post on this thread - i would add that in my career i stayed with the same employer throughout but had only one role that lasted more than 3 years - i took every opportunity to move onwards and upwards and luckily enjoyed each role! The last one was the one that lasted the longest and my decision to retire early was probably at least partly because i felt i'd lost momentum in my career. And i could afford it!

bigadaj

You really need to give some thought to what you want o do and how to achieve it, it's a little ironic to say you not like the rat race as your work really isn't that at all, is it.

I think you need to do some more research and then make a decision, one thing to remember is that mining, like oil, is either up or down, there's little in between.

I'm in my forties and have been undertaking some work on a mine in Africa for the past month and potential future few months, and my uk based salary is little better than yours, so best advice is to keep saving, and consider options. If you live in Perth now you could probably work for another year if you get your Aussie citizenship ie target one, jack and do something else for a few months, and assuming mining is still good then just get another job. If mining prices have collapsed you'll probably have to do something else, but if you stay in your job and commodities crash then you'll probably be laid off in any case.

atush

calypso_rhapsody wrote: »

You already have 3 year's spending saved up so in theory (assuming your sums are right) you could take a chance and change career path now. But take your time and think about the options.

Are there jobs (your boss's??) in your company that you feel you would enjoy and may be able to move into in due course? i don't know anything about your industry but i am sure there must be roles you could look at.

It's a question of matching your skills and preferences to opportunities that are either there now or may be in the future ... Good luck!

I was amazed at the number of thank yous to my last post on this thread - i would add that in my career i stayed with the same employer throughout but had only one role that lasted more than 3 years - i took every opportunity to move onwards and upwards and luckily enjoyed each role! The last one was the one that lasted the longest and my decision to retire early was probably at least partly because i felt i'd lost momentum in my career. And i could afford it!

Doesn't he have to keep working in that job for another year to get his permanent residence status in Aus?

hodd

This might be bad financial advice, but here goes. It’s more of an emotional issue in any case, and there's no such thing as a wrong opinion.

If someone has a good degree and a few years of relevant work experience, there’s nothing wrong with taking a year or two out and doing something else. Yes, they will lose income and potentially get a marginally lower pension, but they will have gained some great experiences, got the wanderlust/frustration out of their system and learned a lot more about looking after money.

I’ll give my example, not because I’m a huge success, but it’s the only one I know. I studied engineering and got a decent enough job, which I did for five years. Part of those five years was spent on secondment abroad. This was a real eye opener to someone like me who up until then had somewhat limited horizons. Because of this, I wanted to try and work abroad on my own. So, I resigned from my job on good terms and went to be a teacher for five years, at the end of which I went back to my old company where I’ve now been for seven more years. Apart from holidays, I really have no wanderlust now, but I’ll always be glad I took that time out. Five years was a bit long; two would have sufficed.

I’m not going to blow any trumpets, but the skills I learned from working abroad are often lacking in those who have only ever worked in the UK. I’m not saying they’re wrong or narrow minded, and I know not everyone can or wants to live abroad, but that’s the way I see it almost every day.

Yes, I posted recently about considering quitting my job, but that was more down to perceived health reasons. (I didn’t quit.)

Back on topic, this guy is 26. Why shouldn’t he do something else for a few years now? If I’d taken my time out to teach in the future, say in my fifties, I would’ve been far less flexible. I’m 42 now and wouldn’t be able to start something so radical or exotic now. I did it at just the right time.

To finish on a sensible note, I’d certainly suggest he “ring fences” most of his savings if he takes time out and doesn’t blow it. Sorry, but to suggest to an intelligent 26 year old that he must stay in his job continuously until 60 or so will fall on deaf ears.

heathcote123

perth_worker wrote: »

I know how stupid my idea sounds specially when I say it out loud. Its just recently I feel so exhausted - both mentally and physically. Like I am so tired of constantly feeling like I am under pressure and have to preform well and being so stressed that I cant sleep. I think I am just envious of some people who just work 20-30hrs a week and who leave work at work.


.

I know how you feel re the constantly exhausted thing. I started up a business a few years back, and when you're starting anything new (in your case, your career) you often put so much into it it can be overwhelming & lead to a lot of stress.

Once you hit your stride though (it may take a few years), you get used to the pressure, it just becomes your daily routine and it's not so 'stressful' anymore - it's just problems which it is your job to solve - they're not chucking 50k at you for fun, its a great wage for your age, and you will need to justify it.

Next time you get tasked with 5 things to do at the same time, take a step back, have a private chuckle about it, prioritise, dont be scared to ask a more experienced colleague for help or advise, and just do the best you can. It's all one big game and you need to see work for what it is - just work - not some great big impending cloud of doom. Whats the worst that can really happen?

*Relax*, enjoy the challenges and you'll be making it look easy in a couple of years.

Nottoobadyet

Not sure if it got lost in all the posts, but I seriously think becoming an independent consultant might be the best way forward for you. Even while still employed I use some of my weekends / annual leave time to take small consulting gigs, all built off relationships I've built at work.

You can choose the work you want, so you can par out the parts of your job you cant stand. You can negotiate daily rates that will cover you for the times in between jobs. If you get a good list of clients and continue providing good work for them, you could work in short leaps and bounds, finish a project then do whatever you want (even just sitting on your bum and playing Wii) for a bit. Once you're ready to return to regular employment, you'll have a healthy work history and varied references.

bigadaj

Nottoobadyet wrote: »

Not sure if it got lost in all the posts, but I seriously think becoming an independent consultant might be the best way forward for you. Even while still employed I use some of my weekends / annual leave time to take small consulting gigs, all built off relationships I've built at work.

You can choose the work you want, so you can par out the parts of your job you cant stand. You can negotiate daily rates that will cover you for the times in between jobs. If you get a good list of clients and continue providing good work for them, you could work in short leaps and bounds, finish a project then do whatever you want (even just sitting on your bum and playing Wii) for a bit. Once you're ready to return to regular employment, you'll have a healthy work history and varied references.

Lovely idea but not possible as an exploration mining geologist, he's either working fora big mining company, and so wouldn't be allowed, or a consultancy with an obvious conflict of interest. Could also conflict with the visa he's working under.

Zekko

You're unlikely to be able to earn 50k/annum without a little bit of stress and a decent workload.

Just prioritise your work, do the best you can, and take the money and run whilst you are still young and can stash it away. You'll be the one laughing.

atush

Again i;ll sday a lot of the fine suggestions aren't taking into acct his work permit/Visa situation as he won't have permanent residence until he finishes one more year. I would hold off on all suggestions until that time?

Nottoobadyet

bigadaj wrote: »

Lovely idea but not possible as an exploration mining geologist, he's either working fora big mining company, and so wouldn't be allowed, or a consultancy with an obvious conflict of interest. Could also conflict with the visa he's working under.

Surely he could quit his role in either of those two and become an independent consultant, unless there is some line in his contract forbidding it?

Completely right on the visa question though! Maybe an opportunity to work up contacts and impress colleagues for another year then go solo.