To wish i’d known when younger the importance of going into a career with money

[Watermelonlollies]

I don’t remember my parents stressing this to me.

I’m a teacher and used to have an okay lifestyle, got by happily and could have holidays and a few treats here and there.
Life isn’t like that now, as i’m sure it isn’t for many.

I’m not materialistic in any way, but as I’ve got older it’s really dawned on me the importance having money makes and I wish i’d gone down a different path

Does anyone feel the same and do/will any of you be expressing this to your kids?

Yes, but they get significant meaningful breaks at regular intervals in a way that other workers/professionals don't. I work about 50/55 hours pw and last had a week off in February due to operational necessity.

No idea yet!

I'm still at the writing a CV and considering my options stage tbh.

I just want to be out and I didn't think I'd ever be one of the ones saying that but a new HT and DHT has completely changed the landscape of my school and I spent a long time finding one I was happy in.

Actually I have heard the opposite - people who chose careers based on the earning potential and then have, if not actually hated, disliked their jobs and wish they had followed their hearts, even if it would mean a drop in lifestyle. You spend so many hours working it should be in something you are interested in

Yes I agree OP, and by luck rather than judgement, I'm in a career where I'm a high earner (business development - not something my parents or teachers had ever mentioned).

My mum pushed and pushed and pushed for me to get a good education and go to university. Her drive for me to achieve that overshadowed my upbringing if I'm being honest.

Then when I graduated, got my first temping job and was earning £1000 after tax a month in 2006, she started doing this whole working class, inverse snobbery act of "Well, that's a very respectable wage, noone should ever complain on that!". I suggested I'd not gone to university to earn such a low salary, and she said she was disappointed in me and I hadn't been raised to look down my nose at a minimum wage job! I was floored. What had the point been in her obsession with education?

I was a bit lost on what to do and she strongly encouraged an idea I had to be an executive PA (which can be a great career in itself if you get the right role). But I had a moment of realisation in my 20s where I thought "Fuck this, I don't want to be a PA. I want to be the person who HAS a PA".

I've worked up to lead a team and massively out earn market rate for the region I live in, at 41. But I wasn't given any idea of how to earn good money by my parents and have had to figure it out for myself.

You don’t need a degree for shop work etc. Teaching is woefully underpaid.

If you say so. I don't think anyone who hasn't worked in a school can comprehend how stressful it can be and the amount of work there is. It takes over your life.

The ideal always been well paid and interesting to you.

I kind of got that - after a false start - but the misogyny got wearing and the hours were incomptable with kids - so saved house deposit and moved on.

I know three men who did this - one lasted a year in city before coming back to same uni for PhD said never again.

Next one stuck it out for nearly a decade - was miserable though financially secure - used to day dream about running a b&b in wales - he emmigrated met a girl married though it was SE asia so working culture was pretty full on still.

Next one - stuck it out working life and long commute and kind of enjoyed the work - but mostly lives for kids and wife and hobbies at weekend - think may retire early and move out SE.

DS career options should be well paid - DD1 not so much sector which wants moon on a stick qualification wise and volteering but doesn't want to pay - and short term contracts are rife. She won't listen to us - and some people do make good livings. So figure she'll move sideways or tough it out as she gets older.

Dh works long hours and in past - even when he was picking careers- would have been on a higher income but that's been eroded - but he enjoys the work and we get buy.

Ive always talked to my children about work & money, especially that some things might be quite fun/enjoyable but may not pay as much, and that other things may seem a bit more dull/less glamorous but are very in demand and so pay more.

I think its important that children learn to dustinguish between jobs and hobbies. Yes its lovely you're brilliant at cricket/art/flute/gaming darling but almost no one manages to do that for a job.

I took a massive pay cut to do something that I found more rewarding. No regrets.

I still earn well but not to the same level that I used to. Money isn't everything.

I always encouraged my dd to do something that pays the bills and gives her a sense of meaning and purpose.

My parents were and still are atrocious with money, to the extent that they are now (in their 80s) without any assets or income and are entirely financially dependent on me (and were partially dependent on me for 30 years before that). In my childhood I was witness to all the money panics, the cashing of bouncing cheques at the supermarket, the lying to people, the constant fears I might be taken out of my beloved (private) school, the anger at utility companies for expecting to be paid, the phone line being cut off periodically. I absolutely didn't want to live my life like that and chose my career accordingly (medicine). They were supportive but surprised I had chosen such a "difficult" path, I never explained my reasoning to them in full. (My mother and grandmother never worked a day in their lives).

(PS I loved medical school and have loved my medical career, but knowing that I would have a career that I could take anywhere, and would always be able to take care of myself financially, was my main motivation when I was 17. Looking back over 40 years later I am glad I made that choice).

to get a £15k a year pension from the private sector you’d need to have saved £400k which is almost impossible by 60.

It’s pretty good?

I was thinking that the other day. I saw something the other day that said the ideal job is in the middle of a three way Venn diagram with the different sections being what you’re good at, what you enjoy and what lifestyle you want to afford with your salary. I just sort of considered what I liked doing and it worked out well it I do think salary is also worth considering.

It depends on the person, but I do think it's got harder. I'm in a creative industry and freelance and the pay has stagnated for decades. It used to be a decent living, now it's not far off minimum wage and I am pissed off about that. OTOH I've spent my life doing something creative and fun and been sensible and lucky enough that I do have equity in a property, and a private pension. I would absolutely love to have more money but I wouldn't love to work in anything corporate, businessy or tech.

Also lots of people do essential jobs that are not well-paid. We can't all avoid those jobs and make sure we get into well-paid professions. All basic jobs should be better paid, basically - it's ridiculous that higher-paid execs and professionals have salaries 10 or 20 x what someone else in the same organisation gets fo doing something that's also important - cleaning, catering, maintenance etc.

I'm a care worker. I regularly finish at 10pm, always work 60+ hour weeks, and I've never "dined with a client" 😂.

I earn £23k a year.

Occasionally, I wish I'd thought more about a career that would earn me more money. But, I can't grumble, I've loved my job for 30 years.

There's no way I'd have what it takes to be an investment banker (not exactly even sure what it involves!), and somebody's got to care for our elderly folks.

I also really agree with this. I was that ‘money isn’t important to me’ idealistic teen. Now, I am the main breadwinner with 3 teens and things look very different. I often wonder if I’d have listened though if someone had advised me at the time?

I have a job that requires professional qualifications and has taken a lot of studying to achieve. I love it but there is far too much of it - due to public sector cutbacks and short staffing I too work 50 hour weeks but for a lot less than 300 grand. My stress levels probably aren’t as high as an investment bankers but they would be if I worked frontline healthcare like I used to do. I think the expectation that people will give more and more in public sector jobs like teaching probably adds to how you might feel about the pay?

Nobody forced you into teaching. You have to make many conscious adult decisions to get a career like that and then choose to stick with it. Nobody lied to you and said you'll make fortunes from teaching.

Same with nursing, care, hospitality or most actors or artists. You're not in it for the money. If you want more money then do a second job, or change career.

Your parents aren't responsible for what career you actively chose to pursue as an adult. They may have been influences but it's your own life.

To be fair, not all teaching jobs are the same. I'm thirty years in, secondary. I'm at the top of the pay scale but with no extra responsibility points and earn just shy of 50k. Where I live I can run a large 3 bed semi and two teens on that. We have some sort of holiday every year and they do hobbies that cost about £300 pm. I don't work much outside of the classroom...all my planning is long since done bar occasional updates and tweaks. Marking can be done when I get in, lunchtimes or frees. I like my school and have a good SLT.
I am teaching my kids that so long as you have enough to not be worrying about essentials and, most importantly that you are self reliant, then enjoying what you do is the most crucial thing. As others have said, you'll spend decades working. If it's tolerable at best that has to be would destroying.

If I was a single you g adult on my salary living in a smaller, cheaper place, then absolutely. But am a single parent of 2 teenagers and my mortgage is much higher now than it used to be, so my expenses are pretty high

I wouldn't want to be starting out now & worry about my GC.

My PP shows how lucky I was to have a secure job in the civil service - I'm not so sure that I would recommend that to someone now.

DH & me were also lucky that we were able to buy doer-upper houses when we first got married. Our first house bought in 1988 cost us £12K & we did it up & sold 3 years later for £30K. But then we also 'caught colds' when interest rates went into orbit - just at the same time as DH decided to set up his own business, had re-mortgaged the house, sold cars everything in order to do it- we had 2 DC & another on the way. But I retained my job (albeit part time) & regular income plus being a civil servant made us very good prospects for loans. Many sleepless nights. But we weathered the storm and, frankly, have enough money that we have ben able to gift DCs with deposits for their houses, we pay for GC school trips etc. We are scrupulous about giving the same amount to every DC/DC. If we pay £1k for one school trip, we call other DC & tell them & offer the same amount - even if the £1k goes into a building society account. If we give an amount for a DC to have an extension to their home - we give the same to the others.

Our philosophy is that we would rather help them now when they need the money rather than leave them money when we die. Afterall our money & house could well go on our care home fees if one or both of us develop dementia.

But teaching is much more financially beneficial than shop work, cleaning or care work for example.

It is. But it's also less financially beneficial than other careers that require a similar level of education and involve a similar degree of professional responsibility, accountability, skill and workload.

That’s true! I think my parents’ first house cost £2k 🤣 But we were a big family so one modest salary didn’t stretch quite far enough.
Absolutely, I highly doubt that many 25 year olds could buy a house on one teacher’s salary now.
No one could have anticipated the horrifying increase in house/rent prices back then. Even when I was a young adult it was achievable.
But that aside, there’s a certain mind set and drive that some people have to make money - no one in my family had that!
I also wish it had been drummed into me how important a private pension was - I feel as though I’ve been in a dream most of my adult life and just never thought about the reality of it. So much regret there.

Life is a long road. You may find you have a far better pension that most.

That sounds a better work life balance rhaenys so I can appreciate how you take that view on it.

Not to derail, but in a similar vein to "Just do what you love", is the often equally bad advice to "Just marry a man who loves you". Erm, no. I want them to tick a number of practical boxes too, such as being hard working, sensible, good with their finances, share my core values, be resilient and so on.

OP I don't remember my parents telling me.

I figured it out post uni when I could only just buy the cheapest property on the market! Then I realised. Aged 24 probably. How old are you OP?