For those who are 'well off', how did you get there?

[Ivyy988]

By well off, I mean comfortable enough to not have to worry about money, can buy luxuries, go on holiday etc.

I'm a single parent, study at a good uni (will have my degree next year), but come from a fairly poor family and I really want to never have to worry about money.

I'm not skiled in anything particular, but have a lot of motivation, am very good at saving (although there isn't a lot to save on a student loan) and mainly buy second hand etc.

What is the best way to get there? Am i best of looking for a graduate jon and working my way up? continuing in education? What things helped you get there? (other than inhereted money or where you had a large amount to begin with).

No more children for now. Don’t get involved with anyone who doesn’t share your values and ambitions. What course are you studying at uni? Finance always pays well, but I’ve recently been surprised at how well paid HR careers can be. Best of luck, OP!

Not really down to me - I left my well paid job to retrain so I earn a v average salary. DH left his job 8 years ago and went out on his own as a contractor in a very 'niche' area of IT (that sounds very wanky but there it is).

Privileged background. Oxbridge then red brick STEM PhD. Joined Big 4 and qualified as a chartered accountant. DH similarly qualified but in education. Didn’t have DC until we’ll into my 30s and went back to work FT.

I would recommend accountancy - once you’re qualified, assuming you’re competent, you have lots of options and you’ll never want for a job.

To be honest I was just blessed with a hard working dad. He's got terminal cancer and wanted to give me my inheritance early so he can see me enjoy it so I bought a house and my partner has a good paying job. With no mortgage to pay that really helps. So yeah, just all thanks to my amazing, hard working Dad.

I'm from a poor background but had parents who believed in and work and education. I had my dd1 in my early 20s and gave up my job as a civil servant. I trained as a teacher and qualified when I was 30. An expensive divorce followed then DH 2 and Dd2 arrived 5 years after. We struggled financially for maybe 15 years, but then started seriously saving. We didn't move house, didn't spend a fortune on 'stuff' and paid off all our debts. I retired last year with a reasonable pension and lump sum, we downsized and paid off our mortgage. We are not well off in the sense of being millionaires, have less than 100k in savings but will have enough to live quite well until we die.

I come from a family of 6 kids - all of us are very well off now and we vary in educational achievement from effectively leaving education at 13 (I think he was dyslexic) to post grad - some own businesses some work for big companies. I often wonder how that happened, it must be unusual - our upbring was quite dysfunctional, we were not poor in the sense that we always had food on the table but there was very little in the way of luxuries, no change of clothes( I remember washing my clothes on a Saturday night and hoping they'd be dry in the morning, no holidays etc. I think we all had high expectations of a better life, but I don't remember that being consciously taught.

Worked bloody hard at school and uni.

Worked hard trained in a profession worked in City for a few years then moved out of London had bought flat in London at fortunate time just before prices rocketed luck rather than judgment married my equivalent. Neither of us from wealthy families so we have earned all we have.

DH2 & I also worked bloody hard at uni & throughout our corporate careers. Both divorced in late 30s & had to start again, lived on a shoestring for a decade to rebuild finances. Finally achieved stability again 5 years ago & paid off mortgage. Very grateful for what we have.

Mostly by working FT even when the kids were small and the nursery fees were high. Although having the children when I was relatively young (I was 30 when my youngest was born) also helped, as it meant that I could focus on my career from my early 30s onwards.

Oh, and taking it in turns with DH. So 4-5 years focusing on my career, followed by 4-5 focusing on his career, and so on.

I did an AMA last year because I'm a self made millionaire without a university degree. The thread descended into mud slinging because obviously I can't really be a self made millionaire so I must be lying.

I started my own business 5 years ago and it's really successful. I didn't have any hand outs or good luck. I just worked hard.

Oh and am a serial name changer in case any of you feel like trying to prove me a liar.

Worked really bloody hard, and continue to do so.

Worked hard at school then uni the professional exams (accountancy).

Sensible with money. Married someone with ambition (even though I earned a lot more than him for first 10 years of our relationship).

He now earns six figures. (Poor-ish background himself). I’ve stepped back to look after children

Ditto . Hard work and lots of it

Those who have said they worked really hard, what exactly was it that you worked hard on?

I work very hard in uni (on track for a stong first from top 5 uni) but I still don't know where to go from here..

It's worth being careful about continuing in education- that really depends on what you want to do. There are some fields where it's really important and others where it can be a hindrance.

A PHD in some areas naturally leads into research work, which isn't always well paid for the level of education. A masters in a subject like construction law could well earn you a lot more, as would a qualification that the big financial institutions would like.

We're not rich, but both have degrees and professional qualifications. Didn't have kids until after we were fully qualified. We both work part time and earn enough to live off without ever worrying about money, but we are also fairly frugal by nature so while we're more than content, others might have bigger ambitions than us!!

Hard effing work

@LongPauseNoReply I remember that thread; I found your story really inspiring. I have lots of admiration for people (and in particular, women) who have managed to do what you did. I thought it was ridiculous the way people didn’t believe that you had done it and the nasty, jealous and bitter people who got on your case about it.

After leaving uni I got a graduate job in a well-paid profession and studied for a professional qualification.

OP, this is a useful list of jobs with good future prospects. It's a US website but still relevant in the U.K. (as the job markets are similar):
www.careercast.com/jobs-rated/2019-jobs-rated-report

Get a professional qualification it’s working hard and working smart. You could work very hard in the corner shop but it won’t get you very far. Work hard at something like law or dentistry and it probably will.

ended up at medical school - has been horrible hard work, long hours, on call, juggling kids - but the financial rewards were good in the end - just taken my pension phew

Thanks @Ninkanink I really wanted to get the message across that anyone can do it. I literally started my business with a couple of hundred in the bank. It's possible for everyone.

I’m from a poor background- me and my 2 sisters used to get a ‘treat’ of one third of a dairy milk once a fortnight because my parents couldn’t afford more.
I’m not particularly educated, it’s my savings that have given me a very comfortable lifestyle.
Things that helped me become ‘well off’:
-moving up the property ladder to good areas at good times for the market. Knowing what homes have potential. 10 years ago, I sold my house for 200,000 and bought the worst house in the best area. That house is now worth about £600,000 purely because of the area it’s in.
-not having things like Netflix or gym memberships etc for a long time
-haggling (and doing it well!) when it comes to insurance and the like
-always buying things during a sale
-buying things and keeping them for years and years and years. Some of my friends buy new sofas and carpets every 10 years but I certainly don’t!
-me and DP had children fairly late for the time and we only had 2 because we wanted everything to be in order financially
My salary isn’t particularly high- it’s about average but I worked my ass off as a young woman to save and save and save. I could retire now at the age of 50 if I wanted to because of my savings

Wouldn't recommend dentistry just now!