Aibu how did you get rich and successful

[Cupcakeicecream]

Basically I want to just start again. I want to do something with my life that will give me a very good standard of living basically a career that I can work my way up the ladder and get richer as I do. So if you how did you get rich and what has enabled you to do? What career enabled you to dothis.

I love the notion that academics are rich

It was only when I moved to a post-92 (at SL) that I earned more than my final year students' starting salaries. I'm now a Prof - and just into the higher tax bracket. To get here, I only needed a minimum of 7 years' tertiary education and twenty five years or so

Private sector pays much better, as does school teaching, train driving, and many other careers.

If you are a re-trainer, forget academia and go into sales - if you are good at sales, the sky seems to be the limit.

I would love to start my own business but what type of work or business ventures produce a rich lifestyle

I wish you all the best, you can do it

A career that let's you earn say over 100,000 a year or 150,000 . multiple trips abroad a year weekends away kids in private school

First off you're going to need to earn a lot more than 100-150k for that lifestyle.

In terms of what to do it depends on how old you are and what your skill set is. What are you good at?

@Supergirlthesecond
@Ullupullu

I did a lot of reading about UX and IA (Information Architecture) while I was working as a content editor / writer and then gradually started weaving UX and IA techniques and thinking in to my content roles. For example sending out a team-wide survey to gather attitudes towards our website content and analysing results and using them to create a new site structure and strategy for content.

I emailed a local small digital agency telling them I wanted to get into UX and asking for advice. I was lucky that a woman there took the time and trouble to build an email relationship with me, she told me which books to read and recommended a training course. I did the course she recommended (Webcredible).

Then when a vacancy came up over a year later, she thought of me, brought me in for an interview and happily I got the job! Her manager, the Head of UX felt he was taking a risk with me, but was happy to give it a go. I took a salary cut to get that first UX role - best decision I ever made. I learned on the job and was then able to go contracting.

*@walnutcabinet, I'm shocked that you can earn so much without understanding that the Daily Mail, if they wanted to quote you in an article, can cut and paste, and cut out the bits they don't want.

Modern computers hey, the stuff they can do these days!

@ChangedNameForToday Thanks, Change - very helpful. I will look up that course.

Am I living in the middle ages or something because where I am, 100-150k per annum would mean you lived very comfortably.

Finance and investment banking come to mind.

I went to private school, my mum was a private physiotherapist with her own practice, my dad worked in banking before was made redundant. I was an only child though, they couldn’t have afforded private schooling x2.

From memory, my friends at private school had parents who worked as accountants, lawyers, lecturers, architects, computer scientists, farmers, teachers... so a range. Some of them were pretty wealthy, others less so.

Also, my hairdresser’s daughter goes to private school.

I've scaled my career back at present with family commitments but income levels you have quoted are typical in my industry & what i earned when full time. I work in a technical specialism within accountancy. Hours are reasonable, generally if you choose employer wisely, it can be flexible when you get more senior e.g. Some working from home/part time. Jobs are generally secure.

Other considerations: you need a degree from a good uni, 2.1 minimum, 1sts increasingly common. Also need an accountancy qualification after uni, takes 3 years to learn, typically on paid training schemes (salaries usually c £30k or so).

Jobs concentrated in London/south east.

You need to be very academic to be honest. Good at maths but also quickly reading and understanding complex technical & legislative type materials. analytical in your thought process, organised and a quick learner. High levels of computer literacy increasingly critical. It's an industry where people know each other & reputation can be important, very good people are in demand.

Because where I am, 100-150k per annum would mean you lived very comfortably

But surely not children in private school and multiple trips abroad?!

Two kids in private school at 12k = 24k

Two weeks summer in the sun for 4 = 8k

One weeks winter ski for 4 = 8k

Two overseas weekends away for 4 = 1.5k x 2 = 3k

That's a (very conservative) total of £43k. For which you need to earn almost double. Doesn't leave much for anything out.

I wish I could go back to when I was 17 and do something else! Being a Vet nurse earning 25k a year when my friends earn way more is so depressing. But I'm 32 now with 2 children and a SAHM.. I'd love to train to do something else but I didn't do well in my GCSE's and I've only ever had the one job. :(

Dramarama is right, the money doesn't go that far, especially after tax, travel to work, childcare. Jobs paying that much often come with an expectation (from peers, clients) of being relatively expensively dressed too, plus don't always leave loads of time for frugal habits like making lunches to bring in. Plus they are often based in South East where property costs a bomb, we have a highish family income but our mortgage & childcare bill is whopper.

I earn that as does DP, yes DD is in private school. I own my own business he is an engineer.
But a big chunk goes into pension so that the income continues when we retire.
You have to remember that to earn that money you work long hours so the reality is holidays are tricky to align our schedules.
This year neither of us have taken a days holiday so far, we have one week in August in Yorkshire and then we have a week in Canada in December.
You can't have big salary and lots of holidays in this day and age, because to get the big salary you need to work very long hours.

@Cupcakeicecream

You need to reframe your thinking, IMO. As other posters have mentioned, you need to think about building assets. You also need to focus less on consumption. Multiple foreign holidays a year while in a job that pays 100k a year? IMO, unlikely. Generally, people on that money don't usually have the time for the kind of lifestyle you think comes automatically with that salary. If you earn 100k a year, with a monthly take home of 5,5000, and send more than one child to private school, and take multiple trips abroad a year, how much are you expecting to be left over to build wealth?

If you want to be rich, consider the following:

• Can you work somewhere with lower taxes than the UK? The equivalent of 75k GBP in Hong Kong would be the same after tax as 100k in the UK. Many countries in the Middle East have zero tax. So 65k a year there would be equivalent to 100k in the UK.

• Google salaries in realistic professions. How old are you? Finance is a young person's game. You won't be considered for entry level positions at the big 4 if you're in your 30s. Conversely, accountants are not impacted by the same restrictions, and older accountants are generally well respected. I also wouldn't discount teaching. Low barrier for entry, endure your year or two in the UK, and then move abroad. The transient nature of the expat lifestyle, means staff turnover, which means opportunities for advancement. The Head of Curriculum Planning at the Blah Blah school of Bcakwardsia will be earning a great tax-free salary.

• Invest your money in assets. Stocks, bonds, property etc. Educate yourself on how to do it. Start now. "Pay yourself first" as Mr. Buffet would say. Do that for long enough and you'll be amazed at what you have in 10-15 years.

@jameswong good advice

@@NEtoN10. OK, message sent!

@NEtoN10 Message sent !

@walnutcabinet, I'm shocked that you can earn so much without understanding that the Daily Mail, if they wanted to quote you in an article, can cut and paste, and cut out the bits they don't want.

But they don't, I have been quoted in the DM 6 times to my knowledge (yes i am so witty). I once had a user name something like dailymailarescum which worked and stopped the streak and now I always put piss off daily mail or similar

Not been quoted since.

Do you have evidence that posts that quote the DM have been edited?

It’s doesnt cost £8k for a family summer holiday!

100k to 150k will not get you all this. Once you send, say 2, children to private school (together will all the extra cost on top) and pay mortgages and bills there’s not much left over for holidays.

Tech. Finance, sales, or Communications.

There is no easy way to earn 6 figures. Every one I know that does works in the above field. But they also work long hours and weekends, on holiday etc.
I work in finance and took a slower projection in my career as I had DD. Until she starts secondary school I have no plan to work the extra needed to double my salary to 6 figures. When I do I plan to put as much as I can into my pension so that I can work my butt off for 15 years and retire comfortable.

In finance you will need a good degree and some balls...if the accountantcy side of finance you need to get chartered and either make partner in a good practice or FD in a big corporation. It's hard work though.