What's it like having and earning loads of money??

DD265

For me it's not necessarily how much I earn, but what I am able to do with it. I get paid on Monday and if I had to 'replace' some of the money in November's budget, I would feel skint. If I am able to budget all of my takehome into December, I will feel loaded.

Sandtree

AskAsk said:

fred246 said:

Hobbies are more important than money.

so how do you buy food and pay the bills?  i love sitting on me bum all day posting nonsense on this forum as a hobby, but that aint gonna pay for me dinner or the bills is it??

I think they were more talking about what defines you more as a person, your salary or your interests/life outside of work?

Whilst I like my job, most of the time, its there to enable me to do my hobbies, live in the area I want to live in etc.... if my income was reduced to enough simply to survive I certainly would be changing my job.

AskAsk

[Deleted User] said:

AskAsk said:

fred246 said:

Hobbies are more important than money.

so how do you buy food and pay the bills?  i love sitting on me bum all day posting nonsense on this forum as a hobby, but that aint gonna pay for me dinner or the bills is it??

Actually what you post on this forum is the complete opposite of nonsense, but thanks for this post, it made me laugh.

thank you for saying that!  not everyone gets my sense of humour 

Mickey666

AskAsk said:

it is a balance between comfort, security and enjoying your life.  everyone loves to doss around doing what they want, so you could decide that you will only work so much to earn enough to live on and spend the rest of the time doing what you enjoy and spending time with your family and friends.

but to some people, having nice things and being to buy things, to go on big holidays, to send their kids to private school etc is more important than enjoying themselves daily dossing around.

Yes, it is a balance, but I'd say it's also a matter of timescale.  You could aim for (more-or-less) the same lifestyle over your entire lifespan or you could plan for major changes.  In my experience most people seem to drift into a steady state over their entire lifetime, or at least their working lifetime. . . sometimes described as being stuck in a rut because they actively avoid change.

I've done the 'high-powered' job thing - big salary, responsibility for around 50 people, tough targets, jet-setting around the world on expenses, board-room battles, etc - but I never envisaged sticking with it forever.  I probably couldn't have stayed the course anyway, even if I'd wanted to, and was always plotting my escape from this 'rut'.   Along with the stress and long hours came the rewards you mentioned, which were fun and undoubtedly valuable at the time but which I knew would not last. So, as the saying goes, I made hay while the sun shone.  Most importantly, knowing I was planning an early exit made it all fairly stress-free.  Board room battles could be ruthless on the surface but underneath it was all just a game to me and even the worst case of being fired didn't really bother me because I'd built up significant financial security - mortgage-free, no debts, school fees covered etc) and had already negotiated a decent severance package in my employment contract - the sort of thing you can do in a 'high-powered' job. 

Long story short, I never anticipated living that lifestyle forever, it was just one period in my life.  A means to an end.  It was fun while it lasted but more importantly it bought me the freedom to retire before my 50th and then spend the rest of my life in financial security and pursuing all my main interests.  I liken it to being at uni, totally broke and living in a slum-like HMO - it's only bearable because you know it's temporary and an investment for the future.  Plus, when you're young, fit and enthusiastic you can more easily withstand such deprivation, especially when you know it's only temporary.  OK, a 'high-powered' job is hardly deprivation, but it's not easy either . . . unless you plan for it to be temporary, which is where - in my view - most people fail to plan.   It's too easy to fall into a 'rut' when there is no alternative ambition or 'life-plan'. This thread contains the proof.

Of course, hindsight is a wonderful thing and I don't pretend I had everything planned down to the fine details.  That would be almost impossible.  But having a few key ambitions and objectives gives you a plan against which to rate your progress in life and to make more informed decisions about the various opportunities we are presented with throughout our lives.

The following quote or saying has always struck a chord with me: "Some people make things happen, some people watch things happen and some people wonder what happened" 

John_

Sandtree said:

John_ said:

Anyone who’s of at least average intelligence, and fit and healthy could work their way into earning £50k+ if they really wanted to.

I think that is exceptionally condescending and rather ignorant statement (and flor clarity my net earnings are 6 figures so its not sour grapes).

There are a vast number of factors that influence both career progression and salary and not are in your control. Some I am sure you will dismiss and say either they’re not true or they dont want it enough etc but you have to have a reasonableness test or at least a caveat of your statement that the level of sacrifices to get there would vary greatly.

I’ll ignore the fact that 50% of the population are at least average intelligence and the feasibility of that many people earning £50k+

Given your execrable English, your needing help to understand your recent rejection letter, and your inability to be able to afford the work you want to do on your maisonnette I suspect that no, you don’t earn six figures.
If you do though, it does rather prove my point, that even someone of limited ability can find their way into a higher wage.

AskAsk

Mickey666 said:

AskAsk said:

it is a balance between comfort, security and enjoying your life.  everyone loves to doss around doing what they want, so you could decide that you will only work so much to earn enough to live on and spend the rest of the time doing what you enjoy and spending time with your family and friends.

but to some people, having nice things and being to buy things, to go on big holidays, to send their kids to private school etc is more important than enjoying themselves daily dossing around.

Yes, it is a balance, but I'd say it's also a matter of timescale.  You could aim for (more-or-less) the same lifestyle over your entire lifespan or you could plan for major changes.  In my experience most people seem to drift into a steady state over their entire lifetime, or at least their working lifetime. . . sometimes described as being stuck in a rut because they actively avoid change.

I've done the 'high-powered' job thing - big salary, responsibility for around 50 people, tough targets, jet-setting around the world on expenses, board-room battles, etc - but I never envisaged sticking with it forever.  I probably couldn't have stayed the course anyway, even if I'd wanted to, and was always plotting my escape from this 'rut'.   Along with the stress and long hours came the rewards you mentioned, which were fun and undoubtedly valuable at the time but which I knew would not last. So, as the saying goes, I made hay while the sun shone.  Most importantly, knowing I was planning an early exit made it all fairly stress-free.  Board room battles could be ruthless on the surface but underneath it was all just a game to me and even the worst case of being fired didn't really bother me because I'd built up significant financial security - mortgage-free, no debts, school fees covered etc) and had already negotiated a decent severance package in my employment contract - the sort of thing you can do in a 'high-powered' job. 

Long story short, I never anticipated living that lifestyle forever, it was just one period in my life.  A means to an end.  It was fun while it lasted but more importantly it bought me the freedom to retire before my 50th and then spend the rest of my life in financial security and pursuing all my main interests.  I liken it to being at uni, totally broke and living in a slum-like HMO - it's only bearable because you know it's temporary and an investment for the future.  Plus, when you're young, fit and enthusiastic you can more easily withstand such deprivation, especially when you know it's only temporary.  OK, a 'high-powered' job is hardly deprivation, but it's not easy either . . . unless you plan for it to be temporary, which is where - in my view - most people fail to plan.   It's too easy to fall into a 'rut' when there is no alternative ambition or 'life-plan'. This thread contains the proof.

Of course, hindsight is a wonderful thing and I don't pretend I had everything planned down to the fine details.  That would be almost impossible.  But having a few key ambitions and objectives gives you a plan against which to rate your progress in life and to make more informed decisions about the various opportunities we are presented with throughout our lives.

The following quote or saying has always struck a chord with me: "Some people make things happen, some people watch things happen and some people wonder what happened" 

not heard that saying before.  i like the bit about 'some people wondered what happened', lol.  that is so true.
for me, the saying 'the early birds get the worms' grates on me as i am always asleep until late so i never get those worms 

Cromwell77

I am earning half what I was a year ago, I have about 25% less disposable income and am 500% happier. 

At 27 I was earning £70k (20 plus years ago) I was so miserable that I left the job and took one at £18k very good thing to do.

fred246

Some people seem to have a link between their earnings and their spending. So if they earn more they spend more. I have never had that. I just buy what I need and save the rest. Even when I inherited a lump sum I didn't spend a penny extra. If you have savings then you always have money to buy what you need.

ratechaser

fred246 said:

Some people seem to have a link between their earnings and their spending. So if they earn more they spend more. I have never had that. I just buy what I need and save the rest. Even when I inherited a lump sum I didn't spend a penny extra. If you have savings then you always have money to buy what you need.

More than just some I think - far too much 'conspicuous consumption' going on in my industry, where incomes tend to be high. With the exception of a few flights at the pointy end of the plane, I've largely avoided that trap, no 5 figure bling watches, no Smallbone kitchen, no private schooling for the children, no profligate trophy wife (got lucky there, have a very sensible trophy wife instead  ). But on the flip side, no mortgage or debts, decent pension pot, and two, hopefully, quite grounded children .

Even so, I've got to do something about these knackered old DFS sofas 

John_

fred246 said:

Some people seem to have a link between their earnings and their spending. So if they earn more they spend more. I have never had that. I just buy what I need and save the rest. Even when I inherited a lump sum I didn't spend a penny extra. If you have savings then you always have money to buy what you need.

My spending has increased as I’ve earned more, but definitely not in line with the increase in earnings. I drive nicer cars now, and live in a nicer home than when I earned less, but I haven’t swapped fillet steak into my meal plan instead of beans on toast.