boymimbo
boymimbo
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Joined: Nov 12, 2009
October 20th, 2011 at 6:55:01 AM permalink
The best career advice I have for money is to stay in the same career. It takes about 10 years to become a true expert in what you do, and at that point in time, you can start moving in a direction that more aligns with your interests.

flea's advice to doing what your love works too, but the money doesn't always follow. However, if you are doing something that you love, the salary isn't as important to you.

There are plenty of books out there to help you with career choices.
----- You want the truth! You can't handle the truth!
dm
dm
  • Threads: 14
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Joined: Apr 29, 2010
October 20th, 2011 at 11:27:21 AM permalink
Quote: HotBlonde

Well that's not ethical though. At least in my opinion. Remember I'm all about honesty.




You are absolutely right, so just ignore the criticisms from the unethical. There are a whole bunch of them.
thecesspit
thecesspit
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Joined: Apr 19, 2010
October 20th, 2011 at 11:53:46 AM permalink
Quote: HotBlonde

Well I'd like to live a comfortable life. I make a decent living now and was thinking it would be better if I made more. That's why I said at least $100,000. I want to be able to drive a decent car, I don't even have one right now. Plus I want to pay off my debts and buy a nice house and be able to afford to travel and take music lessons and etc.



Pay down your debts and cut down on the life style in the short run. Paying off my major debts (except for the mortgage I have now) meant a 10-15% pay rise. I loan myself the money for a car. Maybe I don't drive my dream car now... but in 5-6 years I'll have upgraded to one that is more than decent (I think a 96 Beamer is pretty good anyways).

Pay debt of first, then pay into savings first. There's nothing better for me financially than seeing my bank balance tick upwards on free interest. I'm over paying on the mortgage so I can create a bigger down payment for my next place in 3-4 years, which will probably be where I stay for the next decade or so afterwards.

Both these make a smaller salary larger.

I do use credit cards to pay for holidays and travel and large expenses. But 95% of those go on a charge card, so it has to be paid of that month. Again, this keeps me well within my means.

Sure, I'd like to be earning six figures. But my current five gives me little to worry about. Plus I enjoy my job. So much so, I don't do enough to enact any plans for usable secondary incomes (lots of the authors are big on residual income... income you work for once, but comes in over time). But this would also help... earn $X thousand doing one thing and top up with another.

$100k+ a year isn't always going to be a panacea.
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
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