Helping 31 year old to be financially independent at 55

Middlestitch

I haven't read through this thread in detail - too much bickering on the side - but I'm always surprised that when this sort of question is asked, there seems to be little or no mention of investing now in your own career so that you can earn more now and save more now (and possibly enjoy your job a lot more and want to go on working!).


For some people, the options will be limited or occasionally non-existent, but for many others, improving your qualifications and skills could give the best return of all, financial and in terms of quality of life.

jamesrobins

Middlestitch wrote: »

I haven't read through this thread in detail - too much bickering on the side - but I'm always surprised that when this sort of question is asked, there seems to be little or no mention of investing now in your own career so that you can earn more now and save more now (and possibly enjoy your job a lot more and want to go on working!).


For some people, the options will be limited or occasionally non-existent, but for many others, improving your qualifications and skills could give the best return of all, financial and in terms of quality of life.

Perhaps that's something a bit less tangible and also it's not really what this sub forum is about. Maybe that is a section somewhere else on the forum?

Personally speaking, I am studying for a degree part time. I don't think I'll ever earn more than I earn now but I see it as future proofing and meaning I can be a bit more choosy.

P.S Not to mention that becoming FI has many benefits besides not having to work.

Brynsam

jamesrobins wrote: »

Perhaps that's something a bit less tangible and also it's not really what this sub forum is about.

The ability to save more when younger is an excellent preparation for financial independence at a younger age than might currently be possible. Increasing your earning power is one of the best ways to do that (and it does seem to be something which rarely gets a mention). Surely that's exactly what this forum is about?

jamesrobins

Brynsam wrote: »

The ability to save more when younger is an excellent preparation for financial independence at a younger age than might currently be possible. Increasing your earning power is one of the best ways to do that (and it does seem to be something which rarely gets a mention). Surely that's exactly what this forum is about?

Yeah but this is the 'Pensions, annuities and retirement' sub forum. I'm sure there's also a sub forum about earnings somewhere.