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).

My sister married the ugliest millionaire she could find.

I think the only way to earn and save money is to go and work abroad. The tax rates here are just to high to save anything. We lived abroad for 17 years and saved loads whilst still having a great time. We bought our house outright when we came back. Friends of ours around the same age have the same size house, same kind of lifestyle etc. but they all have mortgages and loads of debt whereas we have zero debt on anything.

Why the ugliest cupcake? So there wouldn't be any competition from other women?

@cupcakehurricane101 how utterly depressing

Cupcake but does she think he’s ugly?

Hard bloody work! I worked in a very niche job. Spent 10 years getting connections etc. Got a good name for myself

Husband. He started off earning 11000. He taught himself IT and is now one of the best in the business. Which means he earn enough to do what you say. We've no money worries.

You know, im 43 and life is so different now for people starting out i dont think i can say anything relevant. I did well out of things like you didnt need to be a graduate with a debt to get an ok job in the civil service, employers would pay for professional qualifications, interest rates dropped but i carried on paying the mortgage as if they hadnt.

I'm from a very poor background. Not having good for weeks on end etc. How I survived. Down to a nice neighbour who brought us out of date cans.

I worked very hard.

Like a PP working class background, went to grammar school then encouraged to Oxbridge

Didn’t know how to get into medicine, if I had been more aware may have gone that route

Started in consulting in London (a job I had never heard of) and continued to progress, work FT long-ish hours with young DC and travel (not during Covid!) - DH very supportive of my career!

Still relatively limited spend, we have no car, no gym etc

To another PP, yes, pharma is a good sector - but I didn’t know to start with

Decent degree from a good uni. Got onto a good grad training scheme (in a firm I hated). Worked hard in my career - did extra work, put myself forward for everything, was curious - read lots, took every training opportunity, took jobs I couldn’t do and moved when I couldn’t go any further. As I’ve progressed my career I’ve hired brilliant people who are much better than me at lots of things, and always make sure I have people who are brilliant at what I’m not good at. I work really hard on relationships at work and positively influencing.

I’m self aware, realistic about what I’m good at.

Don’t know if any of that helps?

"Pay yourself first" and have a clear written budget that you stick to. Have all savings going out by dd at the start of the month, and if you can't afford it don't buy it!

In this case she had a goal, she always wanted to be rich. She's very attractive and her husband....🤷
After she had known him three months I went to her house and she announced she was going to marry him. They actually didn't get engaged for two more years, but she had a plan. But hey ho each to their own, she always complains about him but she'll never leave, the perks are too good.

Left home at 18 with next to nothing and no parental support. Worked a series of basic jobs - tried Uni but didn't enjoy it. Ended up in financial services, worked my way up through on the job training and by getting promoted and moving firms regularly. Now earning decent money - not rich but comfortable enough to pay bills and have money left over for eating out and holidays. No kids is probably the biggest thing - I've had no interruptions and have worked FT since the age of 19.

Think carefully about how you invest any savings you have.
My DH aren't wealthy but I think we're doing ok for early 30s.
DH was was made homeless due to family issues aged 18, we've been together from teenagers, had to drop out of uni but got an average but decent job for 21, bought his house through govt scheme which paid his deposit and he gradually paid back.
By the time I was 27 we started thinking about getting a bigger house together but decided it was smarter to buy a second house to let out. I worked a lot of overtime before DC in civil service low grade job. But it was the best decision we made. Renovated the house and doubled its value and the rent helps immensely and meant I could afford to take a longer maternity leave and is a great investment for the future.
I personally don't think there's any point in having lots of savings just sitting there, you want the money you save to make you more money.

BTW we don't spend big though. Holidays are self-catering jobs in Europe, cars are second hand, clothes are from supermarkets.

Study something you love that pays well, find a (part time?) job in your profession as soon as possible and try to have good contacts (it’s not the quantity that counts). Choose your partner well, he should be ready to go 50:50 on house work / admin / childcare. Keep working with small children. Say yes a lot at work, unless you think what you are asked to do is a bad idea (in that case in most cases best to say nothing and to look for another opportunity). Buy a house and learn how to invest in the stock market and how to set up a pension. Don’t waste your money on unnecessary stuff even if you could. Keep your health and happiness as priorities. There is a lot of luck involved, you need to be at the right place at the right time...

This is such a nice inspiring post to read everybody’s different experiences. It’s seems that property is definitely the main thing as it will eventually pay off later on in life. Also having children later in life as well as good money management skills.

You aren’t doing psychology are you op? I feel like there’s a generation or two of bright women who have studied psychology at undergrad with little future planning.

I think it’s an injustice that it’s so encouraged.

I think the best thing to do is learn a decent trade or profession and then when you are confident enough create your own business. My DH and I own a business, we could never have created decent money without having our own business. But it’s hard - my DH more than me has dedicated his life (for the past 15 yrs or so) to the business. Never had a holiday without the phone ringing, email checking etc, never have an evening without last minute emails and he never switches off.

Sheer dumb luck.

Started with being born into a well-off family so, while I didn’t need financial support once I moved out, I knew I’d have a soft landing if I ever needed it. It’s easier to take a risk knowing you won’t end up destitute if it doesn’t pay off.

Met DH when he was starting out in an investment banking career when he was 25. He was on shit money but persevered and is now on a high income.

I completely fell into a dream job that doesn’t exist- ie, it’s not the type of job that people know about and want to be when they grow up. I literally joined a start-up at the right time and was able to create a career that’s pretty much 95% stuff I want to do and love doing, and I have a high income as a result.
(And it’s one of those well-paid HR-linked roles like someone mentioned above).

Because of my skills in that area, I was able able to take on related consultancy work that I can do around my real job. This pays very well.

Then, through a complete random connection, I started doing something as a hobby that had turned out to be pretty lucrative. Because I’m very senior in my day job, I get to pick and choose my hours, to a certain extent, to facilitate this.

I’m reasonably intelligent but I think at least 90% of my good fortune is down to sheer luck.

I’m also a really good saver. We bought a house that’s a lot smaller than our peers bought at the time, but in a terrific location snd we massively overpaid the mortgage, so we’re now looking at moving to a much bigger house, and won’t have to sell our current house to do so.

I will add, though, that nobody knows our financial position. If asked, I say I work in HR and DH works in a bank. I think a lot of my friends and family would be surprised.

Came from a working class background, nobody well off and nobody with quals. I did really well at school, went to uni and have a Master's and a PhD in a STEM subject. I got a decent whack of cash from a divorce to put a deposit on my own little house, then met DH who is older and earns more. He also had a wee house so we combined. I switched jobs and have nigh on doubled my salary in about 5 years. So, graft and brains plus meeting another brainy working class grafter.

Moderately well-off parents but no handouts - left school at 17 and started working in catering. Took a big chance at 24 and went into financial services sales and turned out I was very, very good at it. Retired at 43 (no kids) and met a lovely man who earns very well. We are a good team, I had the capital to buy a house/car outright and he has the income to support us in relative comfort.

I do think you need a good partner to succeed, nothing worse than one of you not pulling your weight. I had a well paying job that ensured I could pay all the bills while DH started his business, now turns over millions, took about 12 years.

From a pretty average background, no family help. Married a man with decent earning potential (less than me though) but had recently been divorced so no assets. Short maternity leaves. 2 children only. Found myself in IT industry by more luck than design. I work hard and I’m nice to be around so people want to work with me. I’d love to take the risk to do something entrepreneurial with the chance of becoming really rich but in all honesty I’m too wedded to my pay packet.

I’m also not naturally frugal so could definitely be much more financially comfortable but likewise could die tomorrow so like to enjoy it a bit.

Long pause, don't worry, mumsnet is very funny about money!!

I must say though the '' worked bloody hard '' does irk sometimes.
Mil says through gritted teeth how fil worked hard but his job was actually well paid. I mean workers on construction sites work hard don't they... Workers on checkouts, as we know 12 hour shift NHS workers, care workers physically lifting the elderly, wiping their arses and dealing with the emotional side, 'work hard' '.