Have a high-paying job for the first time - what to do with excess income??

Billycock

colsten said:

Billycock said:

colsten said:

MaxiRobriguez said:

. You're never going to have financial difficulties from here regardless of what you do 

The things people write on the interweb.

Seems fine to me, you omitted part of the sentence. Should actually be- - You're never going to have financial difficulties from here regardless of what you do if you have even a modicum of common sense.
Modicum of common sense, in other words don't have a cavalier attitude with investments. Granted, nothing is infallible but with investments of that magnitude over 10+ years I'd certainly have a punt.

I knew someone would pick up on me leaving off the bit about common sense. So here we go: not even a modicum of common sense can protect you against redundancy, illness, accidents, natural disaster etc.. Nor will grand assurances from a stranger on the Internet who promises you will never have financial difficulties from here regardless of what you do if you have a modicum of common sense.

Well that's true colsten, no one knows what tomorrow brings, but in the grand scheme of things most would generalise the post to mean if everything was to continue in the same vein etc.

colsten

MaxiRobriguez said:

colsten said:

Billycock said:

colsten said:

MaxiRobriguez said:

. You're never going to have financial difficulties from here regardless of what you do 

The things people write on the interweb.

Seems fine to me, you omitted part of the sentence. Should actually be- - You're never going to have financial difficulties from here regardless of what you do if you have even a modicum of common sense.
Modicum of common sense, in other words don't have a cavalier attitude with investments. Granted, nothing is infallible but with investments of that magnitude over 10+ years I'd certainly have a punt.

I knew someone would pick up on me leaving off the bit about common sense. So here we go: not even a modicum of common sense can protect you against redundancy, illness, accidents, natural disaster etc.. Nor will grand assurances from a stranger on the Internet who promises you will never have financial difficulties from here regardless of what you do if you have a modicum of common sense.

You're still misrepresenting me, and taking my words too literally at the same time. 

Quoting what you said, and taking what you said literally, does not amount to misrepresenting you.

I think you would make a fantastic politician - making ludicrous promises, then trying to deflect from them instead of just admitting a mistake.

I'll leave the last word to you as I have important things to get on with.

Linton

One thing Not to do with your excess money: if you have been happy with your general standard of living prior to the pay increase resist the temptation to go more upmarket just because you can afford to.  Better to keep to what you are used to and use the money to give yourselves more flexibility in the future.

csgohan4

Consider life assurance and income protection, the earlier the more cheaper it is. 

thegentleway

Congrats on the job!

My favourte thing to do with excess income is to donate to effective charities: https://www.givewell.org/charities/top-charities. Spending money on others/those most in need is much more satisfying than spending it on yourself.

Enjoy, it's a great problem to have.

MaxiRobriguez

colsten said:

MaxiRobriguez said:

colsten said:

Billycock said:

colsten said:

MaxiRobriguez said:

. You're never going to have financial difficulties from here regardless of what you do 

The things people write on the interweb.

Seems fine to me, you omitted part of the sentence. Should actually be- - You're never going to have financial difficulties from here regardless of what you do if you have even a modicum of common sense.
Modicum of common sense, in other words don't have a cavalier attitude with investments. Granted, nothing is infallible but with investments of that magnitude over 10+ years I'd certainly have a punt.

I knew someone would pick up on me leaving off the bit about common sense. So here we go: not even a modicum of common sense can protect you against redundancy, illness, accidents, natural disaster etc.. Nor will grand assurances from a stranger on the Internet who promises you will never have financial difficulties from here regardless of what you do if you have a modicum of common sense.

You're still misrepresenting me, and taking my words too literally at the same time. 

Quoting what you said, and taking what you said literally, does not amount to misrepresenting you.

I think you would make a fantastic politician - making ludicrous promises, then trying to deflect from them instead of just admitting a mistake.

I'll leave the last word to you as I have important things to get on with.

Thanks, I might consider a career change.

Hopefully after that I can career change again into a grumpy old bloke like you, making an argument out of nothing and then signing-off with a ridiculous aura of self importance.

Mistake admitted - Obviously nothing in life is guaranteed. Next time I'll make sure I put a full list of caveats after every comment, just in case the forum police show up.

IanManc

MaxiRobriguez said:

colsten said:

MaxiRobriguez said:

colsten said:

Billycock said:

colsten said:

MaxiRobriguez said:

. You're never going to have financial difficulties from here regardless of what you do 

The things people write on the interweb.

Seems fine to me, you omitted part of the sentence. Should actually be- - You're never going to have financial difficulties from here regardless of what you do if you have even a modicum of common sense.
Modicum of common sense, in other words don't have a cavalier attitude with investments. Granted, nothing is infallible but with investments of that magnitude over 10+ years I'd certainly have a punt.

I knew someone would pick up on me leaving off the bit about common sense. So here we go: not even a modicum of common sense can protect you against redundancy, illness, accidents, natural disaster etc.. Nor will grand assurances from a stranger on the Internet who promises you will never have financial difficulties from here regardless of what you do if you have a modicum of common sense.

You're still misrepresenting me, and taking my words too literally at the same time. 

Quoting what you said, and taking what you said literally, does not amount to misrepresenting you.

I think you would make a fantastic politician - making ludicrous promises, then trying to deflect from them instead of just admitting a mistake.

I'll leave the last word to you as I have important things to get on with.

Thanks, I might consider a career change.

Hopefully after that I can career change again into a grumpy old bloke like you, making an argument out of nothing and then signing-off with a ridiculous aura of self importance.

Mistake admitted - Obviously nothing in life is guaranteed. Next time I'll make sure I put a full list of caveats after every comment, just in case the forum police show up.

Colsten is a lady.  🤨

flopsy1973

Just out of interest what job do people do to go from earning average income to 200k plus, do people mind sharing 

csgohan4

flopsy1973 said:

Just out of interest what job do people do to go from earning average income to 200k plus, do people mind sharing 

you don't have to have a blue collar job to have 200k, builders can easily earn that amount if they wanted. Really depends on your own skills and how motivated you are to upskill e.t.c

Billycock

flopsy1973 said:

Just out of interest what job do people do to go from earning average income to 200k plus, do people mind sharing 

Where have you got the idea of average income from? The OP's other half was earning around 30K gross whilst the OP herself was working part time and at the time their annual expenditure was circ 60K.