To ask how I can become "rich"?

[raincabin]

I know this sounds ridiculous.

I would like to be a high earner, I grew up working class and my knowledge in this area is lacking. I have tried to do my own research but found it difficult, with a lot of opposing answers and many sites/people just trying to sell!

I am doing a midwifery degree, I have always been academic and considered law but I knew I would find it boring.

What can I/should I do so that I can become a high earner?

I dream of nice cars, holidays and not having to worry about stretching until the end of the month. I'd also love to be able to send DC to private school.

I am open to anything.

@Getoff Thanks for sharing those videos, I will take a look at some of his other stuff.

I work with colleagues who have a lot of 'old money' - they have no clue about how ordinary people live, literally no idea

Apologies for my last post. Still not sure what she was trying to say to the OP in the UK health system but I shouldn't have lashed out with my personal health country phobias.

Thanks for that video @Getoff, I just watched and enjoyed it. Will watch more from him.

Hi Op, I think one thing to remember is that you have time on your side, you are still young so don’t panic. Take some time to think about what you can manage around the DC time wise and how you will finance it. Perhaps have a few sessions with a career coach, I imagine easy to find one you can meet online, make sure they have good testimonials.
i think it’s very admirable to be able to take a step back and assess what is best for you and your family.
good luck and don’t be discouraged.

Continue in midwifery and then see if there's an option to become a private midwife? I'm sure the midwives at the Portland in London are paid more than at your local hospital

@PigletsChewedEar lol of course it can we earn less as a family and manage them all. Just depends where you live.

Came on to say the same.

Have you considered working as a doula? There is a huge demand for them in London. You can earn a few thousand pounds for each baby and really focus on just that birth rather than ten at the same time. You would not be responsible for the medical care/decisions and you would develop skills in running your own business/promoting your services online. 20 babies a year would make £80,000 but I am sure that a successful doula could double that.

*MojoMoon · Today 00:24

What A levels did you do?

Midwifery is a terrible degree choice if you want to be rich (financially rich rather than emotionally rich at least). How far into your degree are you?

If you did maths A level and got a good grade then you have quite a few options - graduate scheme at one of the Big 4 firms and become a chartered accountant, move into other finance roles in the city once qualified, probably also study for a CFA (chartered financial analyst) in your spare time. It's a fairly meritocratic route - lots of people who come from relatively humble backgrounds where I work who earn large salaries and came through the Big 4 accountancy qualification process. The degree you got doesn't matter too much as you have to pass exams (although midwifery will certainly be an exotic one). It's hard work passing the exams - you don't get a life outside work and study if you do the CFA.

The other fairly meritocratic route to decent money and where your background and degree don't matter too much is tech - if you have the brain and aptitude for it, a fair chunk of introductory coding can be self taught and your uni may well offer optional introductory classes open to all students regardless of degree as part of their skills training. You could look at one year conversion course masters degrees.*

This ^

But you need to be ruthlessly focussed and driven to achieve top salaries.

Or you need the wherewithall to create and grow a business which l would catagorically say is much harder.

You are not going to earn a lot of money by being a midwife or an acede3mic
Being rich means hard work and very long hours for most
Mate is a stockbroker - last year earned over 1m
Gets up at 5 am usually home after 8 pm

Op, you are 22 and have time on your side. I really admire you asking for advice and looking for other options which aren't always obvious to people who don't have "connections in the right places." I work in business / operations where the main skills are dealing with people, communications, organisation, adapting well to change, positivity and faining confidence and serenity at all times. With half a brain and evidence of those you can fly up a career ladder. Sales/marketing are good routes in to business that will expose you to senior leadership quite quickly if you do well in your role.

Marry Boris Johnson.

He must be starting to get bored with the present incumbent by now.

There are 2 lottery threads trending on MN at the moment one from a big winner !! Just saying ...

Hi OP. I'm not sure there is an easy answer here. But the people I know that earn in that region have several of these 4 aspects:

Hard work. Above and beyond the norm, but smart about it, not for martyrdom.

Patience. It takes years and years.

Knowledge. They know their industry/sector inside out.

Risk. Business owners I know that have done well have taken out loans secured on their own home and or/quit solid well paying jobs.

Some people don't want to live these or kid themselves that its a gift bestowed upon a fortunate few.

Your question has really made me think (I've always been a plodder...I've got a high level technical academic qualification and earn a decent enough salary, and have benefited greatly from being able to afford a house 20+ years ago..an opportunity that most young people have been robbed of today).

However, in the 20 years that I've been with my partner he's built up quite a bit of wealth, and here's how he did this (in a nutshell). It took serious dedication, lots of hard work, a laser sharp focus, the ability to take (sensible) risks and a bit of luck. He left a safe public sector job to set up a tech company...that thrived, then almost failed. Some money he had from shares was invested in other businsesses or government schemes...and with any money generated (there are losses as well as gains) he's bought property.

He's done very well financially, but he's always working on it. Plus he's the kind of person who set up businesses when at school. Unless you win the lottery, I think it takes years of hard graft to become richer (I'm not necessarily talking about manual labour, but focussing on where you want to get to and finding out what you need to know to make the best decisions)...whether that's through a profession or through investments.

Conventionally, there are several professions, where you learn something specific, go through the "apprentice years" (long hours,small pay) and it clicks after. Medicine and law are good examples

Tech has the advantage it doesn't have that long formal education. However, many of those who tried to get to tech later just get stuck with middle pay jobs in high earning field.

Another thing is, that if you start earning more, wealth takes time to build. Paying Cars, homes, holidays and private schools in the same time is a lot

In your case - is there something you can do to get into midwifery in private health? Get some side qualification which would be appealing?

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In general I understand your questions, the choices we do when young are limited by what we know about and what we consider possible. Unfortunately, there isn't one secret of upper middle class, that someone would whisper to us and we'd live from it ever since, there are factors like family contacts, family support, priorities, location.

you can try doing freelance thing, taking tasks from the spheres you're good at, like copywriting or translating papers
if you are crafty, you can make stuff to sell, or do something design related, like making professional calendars to sell or try your hand at a living space design to work for people planning house reconstructions etc.

Budgeting is very important, no matter what your income is. Envelope system proved to be the most convenient and effective to me, I strongly recommend looking into it www.ramseysolutions.com/budgeting/envelope-system-explained#:~:text=When%20you%20get%20your%20first,food%20budget%20for%20the%20month. A Penny Saved is a Penny Earned
Also even if you feel like your budgeting is fine, still take time to look through it agan, there is always something to improve, I promise.

I can’t help you on the careers advice unfortunately although I used to work in law and the pay is not as good as people like to believe unless you are a specialist/magic circle firm so I wouldn’t bother down that route personally. I would focus on getting your midwifery degree but also prioritise building your assets i.e. property. It’s so tough to get on the property ladder but once you have done it, it’s easier to move up. You need to look at properties that need work doing to them and if you are not confident with major renovation works, start with properties that are old fashioned inside that just need cosmetic work. Sell for a profit, no matter how small and get the next one and keep going. It’s a lot of work but it will pay off eventually.

Financial services pay well - it still takes a lot of work, study and long hours but if you are good your earnings can be unlimited within a fairly short timeframe.

I earn in that range. I manage a team of project managers and some other roles in financial services. No degree (academically could have gone to uni but didn’t) . Decent a levels but the role came to me as I was known to be a decent person in the organisation so was approached. Started as a project manager.

Posts like this always make me a bit sad tbh. I consider myself "rich" because we have enough money for food and heating, a nice house in a nice area but most importantly I have a husband who loves and supports me (30+ years married) and lots of children who, even though one has a serious health condition, are all doing well, independent, caring and happy. Why isnt that the goal or considered "enough"? I know lots of people in high powered jobs earning 6 or even 7 figure salaries. they have lots of "paid help" to support them, they often work on holiday or cut them short, they rarely see their families and children. if that is a measure of success or being rich then frankly I dont want it. I have a fulfilled retirement volunteering and being involved in my small community. so thats my advice on how to be rich. to spend time with those you love and to support and help those who cant support and help themselves. Money has nothing to do with it.

Are you being serious? 😵

You can only have nice cars and holidays and a child at private school on £80k a year if you live in a terraced house in Hartlepool?

[apologies to Hartlepool, I love the place, especially Seaton Carew]

basically you can earn it/marry it/inherit it/win it. What 'it' is is the money but how much do you need? For some people there is never enough. If you are trying to earn it you have to be in a career that will give you the opportunity via study/advancement to achieve what you want.

Taken from a website:

As the healthcare sector moves towards more integrated, home and community-based services, the range of opportunities available for newly qualified midwives has never been greater. Midwifery graduates work in a variety of settings, including hospitals, GP practices, birthing centres, children’s centres and in continuity of care teams. Most midwives are employed by the NHS, however opportunities also exist in private hospitals, independent practices and the armed forces.

As your career develops, you could take on a specialist role. Specialisms exist in a range of settings, including antenatal screening, breastfeeding advice, home birthing, intensive care neonatal care, feotal medicine or public health for example. With experience you could progress into a leadership role, such as team manager, unit manager or consultant midwife.

Alternatively, you could take on an education role, leading on the training and development of midwives within the NHS or training student midwives in higher education. Opportunities also exist in clinical research and with training you could move into other professions such as health visiting. Working overseas is a further option that some graduates move into.

I work as a ahp. Shit pay but Love love love my job.We see people of all ages at death's door. Life is short...do what makes you happy. You cannot take it with you.

Fwiw i went to private school, hated it and am on a low salary.