How did you become rich (without inheritance, marrying into money, winning the lottery etc)?

[AlansFungalFootPowder]

Can anyone give me a solid plan for how to earn lots of money? I am intelligent, have 10 years experience in a very responsible job, I have a masters degree and I’m willing to work very hard. I don’t want to sell my body or compromise my ethics.

ps not a nurse

Another thing.

You say you want to be in a better position than you are now. You havent really given much information about your current financial situation, it might make it easier to give advice if you give us some information.

You should play to your strengths and become the absolute best at whatever your skill is.

So, what are you really good at and how can to improve on it? How can you achieve become outstanding in your field?

@Summerishere123 What is your business, if you don’t mind me asking?

And others businesses?

If you don’t want to become self employed my suggestion would be work in a area with good salaries, a clear promotion structure.
Work hard, network. Do additional exams/training to expand what you can do in your workplace.
Probably would help to know what area your masters is in and what specialist skills you have.
My experience is that people who are well paid and high up in their Organisations are 1. Usually workaholics, 2. Usually ruthless or focused and can live with making decisions that can adversely affect the lives of others - eg sacking people. 3. Often have something that drives them that isn’t to do with the job per say eg want to prove themselves due to a dysfunctional upbringing. Some just like money.

Share options. We have only just realised this but in my husband’s sector once people get to director level (and are savvy) they negotiate share options as part of a package or bonuses for growing etc. Then if you’re lucky and the business is sold at the right time you can get £££.

Become a senior partner in any of the big consultancies, investment banks, the big law firms. 7 figure salaries are the norm.

I’m not into cars and designer clothes or even holidays tbh.

That will help a lot.

How much can you earn as a cyber security employee out of interest? I know someone who has just left the public sector to do this.

What is “earning lots of money” to you? Some people earn 250k+ and are in debt, others earn 50k and have substantial investments and assets.

A 5 bedroom house isn’t really an asset until you’ve paid it off and even then, it’s not liquid and it doesn’t produce income. Will this size of property make you house rich and cash poor?

A good way to get rich is to change jobs every few years, spend less than you earn and invest as much as you can.

Also, match your employer pension and take advantage of government contributions to your SIPP, you’d be surprised how quickly all that adds up.

Aww, try and have a different ambition OP! There are so many millions of things you can do in life that are better than "being rich".

I live in an ex local authority house in a nice village.
My husband is on 145k plus 50% annual bonus. I work part-time as a senior health care professional.
On the outside we don't look like we have much but we are very comfortable and manage to save a lot.

A few people have mentioned IT roles in this thread. Can I ask what jobs you actually do. DS interested in looking at a career in IT.

Contracting jobs. Daily rate pay. Husband earns £650 a day this has allowed us our house and two other properties we rent out. We are not flash, don't over spend, not into the latest stuff but we know our children won't need to worry and we are set up for when retirement comes

It depends how good you are and where you work. The IT Security analysts at the university earn £50-60k, and their line manager, the IT Security Director earns c£70k. If any of them went to work for a consultancy firm or large business they'd probably raise their salary by 50% but might need to work longer hours and have a worse employer pension. If they worked as contractors they'd probably double their salaries, but would have less job security and would have to sort out their own pension. If they built up a very strong reputation, so they were very in demand, they might be able to further increase their day rates, but it's not a given.

Coding to start with. Python and Java are still good.
Or anything to do with data analysis, machine learning and AI.

Then after a few years coding see if business analysis or project management suits or would rather stay with coding

Set up a business. Agree with the poster who mentioned hard graft, some luck, dedicated networking.

Financially set.

Key thing is to develop broad skills and knowledge and then to be flexible, moving jobs if he's not getting opportunities for further training, because IT roles evolve as technology changes. He could do a general Computer Science degree, or Electronic Engineering, or focus on a key skill area identified by the Government as in demand, such as Data Science, Cyber Security or Robotics.

Move abroad. We moved to Switzerland, DH earns 300k per year, pays alot less tax. Cost of living is higher than the UK but there are ways round it, we are pretty frugal and able to save almost 100k per year. Also have a friend out here that worked in finance in the UK, earning 40k per year. Moved to Switzerland with DH for his job and managed to get a job doing the same as she did in the UK, but she got paid 90k for it, plus paid overtime. After 1 year she got promoted, and now earns 130k.
Only other thing I'd say is thing about having assets, buying property etc.

Should add he works in cyber security.
Only people I know who are very wealthy are either wealthy through inheritance, having their own business, or from living abroad getting paid more and paying less tax. Or those that work in law firms/finance but work very very long hours.

IT /tech/ cybersecurity sales. You don't have to be too technical, but understand it to a certain level. And change jobs every so often. Even entry level roles (lead generation) can pay £40k + . It won't be easy ride though, especially in current economic climate.

Being thick here, but what do people mean by contracting jobs?

Appalling.

I can do a variety of roles but typically lead teams / Head of positions.
Currently am Change, Release and Deployment (high profile software products being built).
I currently earn £1350 pd as I work across 2 contracts (most of my friends in similar sectors do too).
I've worked in (IT) Businsss Change, Business Analysis, Agile Delivery Manager, Project Manager. I started as a consultant with several well known consultancies.

Someone else asked about contracting. Working as a contractor is offering your services without the benefits you get as a paid employee in most instances although lots of contracts are now within IR35. Usually paid well. Allows me freedom to work around my young DC.

Don't have kids

😆