RedDaisyRed

[SurlyCue]

Would you be at all interested in doing another of your fabulous inspirational threads like the £1k a week thread?

I'm seeing a lot of "its costing me money to return to work" threads and whilst i'm not in that situation myself, i'm scraping a few hours work a week as a cleaner whilst i'm studying and no work at all during the summer as i cant get enough hours work to entitled me to any tax credit help with childcare (am lone parent on income support)

You gave some fantastic advice on the £1k thread and i found it really inspirational (in fact it kick started me getting to college to retrain and i'm for uni in sept!)

So could i tempt you? Would you be willing to give up some of your time and share your wisdom for those of us that are having trouble thinking outside the box?

[SurlyCue]

No? I cant tempt you? (Pleeeeeassseee?)

[AndNowItsSeven]

Is this a joke?

[SurlyCue]

Not in the slightest. If it doesnt interest you then theres a hide thread option.

[Maltesermom]

Watching x

[Rangirl]

I remember this thread as being very inspiring Why would it be a joke am U missing something

[AndNowItsSeven]

Maybe I am getting RedDaisy mixed up with another poster.

[PennyJennyPie]

Could someone link to the original thread? Sounds interesting!

[SurlyCue]

I actually had the original saved on my old laptop which is broken now i'll try and find it with AS here on my phone.

[Maltesermom]

What is the title? X

[SurlyCue]

here is one of them. (I was wrong- its £1000 a day! There is another i think too. Cant remember title but i'll keep searching.

[SurlyCue]

entrepreneur

This is another one although not sure if Red contributed as i dont think ive read id, it is one she linked to on another thread though so i'm assuming she saw value in it.

I now have my evening's reading sorted

[AndNowItsSeven]

Thanks for the link- I wasn't confused about the poster.

[RedDaisyRed]

Yes,some women are inspired by other women who earn a lot and others go crying into their pillows in a jealous rage consumed red faced with envy and sadness.

Yes, there are women on MN who earn £1k a day (I do) and more. One was one £1m a year she said recently. I cannot remember which thread.

Good luck starting university next month.
What enable some women to earn £1000 a day and others nothing or £13k a year full time? One starting point will be how rare their skills are. So if we or our teenage children in their time can pick some work most people cannot do like play premiership football or practise the best brain surgery in the UK then the rate will be higher (in a capitalist state).

Another factor is just dogged persistence.

Another is where are you. People move all the time. I was talking to four people in the last week who have moved countries for work as indeed did I and as did my ancestors.

Some of it is mental attitude. Some people go through life thinking they will fail and there is no point trying anything because they will make a mess of it or that the chances of something going well are slim so why bother. Others press on regardless and bounce back after every failure like a rubber ball.

I completed two deals today but I will be up at 6am tomorrow regardless keeping on keeping on. Onwards and upwards... oh and sleep. Getting 7+ hours a night which was impossbile when my teenagers were little makes me so happy and healthy. I'd put it at the top my list - just about always being in bed or heading up there around 10pm.

Night all.

[AndNowItsSeven]

What actually do you do Red? I have never been sure, ow would you rather not say?

[SurlyCue]

Thanks for obliging red. I agree confidence is a huge issue. I regularly talk myself out of things. Why? Why is this such a comfortable thing to do? I dont feel i currently have and marketable skills. Have enrolled on an extra course to kickstart earning whilst not degree qualified. Can undertake in own time, had planned for this summer but it hasnt happened yet, various reasons. None really good enough tbh. Need to pull the finger out and get cracking.

[RedDaisyRed]

If you are strating a new course that sounds like good progress for this Autumn coming up.

(AndNow, a mix of things, but principally a solicitor. I do tell the children:

1. Pick work you enjoy and is intellectually satisfying so going to work is fun every day
   
2. Ideally pick work which is high paid with rare skills
   
3. Pick work which allows you to work for yourself
   
4. Try to spread financial risk by having different sources of income and if with a partner they work too so if things go wrong in one area you are protected)

[SurlyCue]

Ok i will divulge what i am doing and ask if you have any specific advice that could help me maximise earnings in this field.

I am doing accountancy. Background in banking, took time out to have DCs. 5 years out of the loop, not interested in being cannon fodder for a national bank again. Have always loved working with numbers and getting them to balance, have been doing it since childhood. So wrt "rare skills" what advice would you give for a career in accountancy? What direction should i head in?

[RedDaisyRed]

I am not an expert on accountancy. The people I know who might be equity partners at Ernst & Young on £1m a year (a laudable aim for many women good with figures) tend to have a good degree and then work their way up. SO I think one of the accountancy bodies is better than the rest - ICAEW seems to be the one to pass the exams for but I'm not really an expert.
If you want money more urgently could you start doing the books for small companies whilst learning a lot about the latest tax rules and advising on that? Is there a new set of complex accounts rules just coming out you could become the UK's leading expert on as no one yet knows about them, read all the back ground papers and write some articles and leaflets about them and become the go to person for that new difficult area?

[SurlyCue]

If you want money more urgently could you start doing the books for small companies whilst learning a lot about the latest tax rules and advising on that?

This is my plan and why i have enrolled on the extra course. So i can be earning almost immediately whilst i do the degree.

Is there a new set of complex accounts rules just coming out you could become the UK's leading expert on as no one yet knows about them, read all the back ground papers and write some articles and leaflets about them and become the go to person for that new difficult area?

Brilliant, thank you. These things sound obvious when someone points them out to you but werent forthcoming wheni was thinking about it myself. Lots of reading to do. Thanks.

[Shakey1500]

SurlyCue

I am not an expert whatsoever However, seeing "accountant" caught my eye.

DH went to a school reunion a few years back and met an old school friend. Turns out he's a "Forensic Accountant" and explained he was self employed, travelling all over the world. From the (very) general gist of what DH can recall, it was something to do with analysing/looking for anomalies within government and such like accounts. Seemed to be very successful and rich in so far as, people come to him and pay handsomely for his services as there's not many that do it. Equally the school pal could have been full of shit

Might be worth looking into though.

[SurlyCue]

Equally the school pal could have been full of shit

romy and michelles high school reunion came to mind reading this!

But yes, thank you, i will definitely do a bit of reading up on that.

[RedDaisyRed]

Forensic accountant can be fascinating. You can trace where money has been hidden on high profile divorces or of fraudsters and work for public or private sector.

on the expert thing I did that - picked an area that was new, followed all the developments whilst it was draft law, went to the meetings with Government, gave my views on what it should say, wrote a book wheni t came out, sent 50 articles about it out to journals and picked up a good bit of work in that field and also gave lots of public talks on it so you become the go to person on that topic eg it could be Patent Box (although I think the EU is challenging that new tax break) or auto enrolment and pensions although there may be too many people expert on that.

[Shakey1500]

Ah glad Forensic Accounting is a "thing" then

And expect a 10% cut from Surly's bill when she deals with Kim Kardashians divorce or similar

[Mumoftwoyoungkids]

I always thought that forensic accountancy sounded rather fun (I work in a similarish field.)

One thing you need to think about is whether you want red's success enough to make the sacrifices she has made. (That are very well documented on this forum.) Personally I don't. I've gone for the "decent job, pretty well paid, reasonably intellectually challenging, not fully reaching my potential but able to spend loads of time with the kids and not miss the nativity play" route.

The advantage of something like accountancy is that this is also an option although you need to take a slightly different path.

[RedDaisyRed]

I'm not sure it's sacrifices. I sit here from a very large nice house on most days working from home doing work I like. Yes, I've worked full time for 30 years but it's no digging coal like my great grandfather did. It can be a bit of a myth that very high paid jobs are awful. Sometimes they are much nicer than low paid jobs but you earn a lot more.

Forensic accountancy is fascinating because you get to track money and structures. Sometimes I have to investigate chains of company ownership. Actually a good new area people could get expert in is some new rules coming into force next year which should make it harder to hide who owns or controls a company. There is draft guidance out there, a few law firms' papers on it, the legislation and a huge number of companies new and old who will be massive affected by it. It is a good example of how someone could pick a new area, learn more about it than anyone else knows, market that and seek some work in that area. Companies are going to have to ask shareholders about who controls the company. It's going to be fascinating.