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  • 16-08-2016 10:02am
    #1


    In today society: is it possible to graduate, have a career ( not a job ) travel (if that is your thing ) buy a property and have a family then have your mortgage paid off by your fifties plus have financial assets built up for your retirement, for the average person?

    I meet someone yesterday who although they want a second child at the moment they simply cant afford the cost of the child care for two children along with a mortgage.


Comments

  • Closed Accounts Posts: 1,488 mahoganygas
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    If money is your only goal, then a wisely chosen career and degree makes this possible.

    A good work ethic helps too. Is it better to work late every day in your twenties and retire early, or leave at 5pm every day until you're in your 60's?

    Different strokes for different folks, but yes it's certainly possible for the average person.


  • Registered Users, Registered Users 2 Posts: 1,196 Shint0
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    There are loads of variables in the OP. Just taking the example of being a graduate. You can have two graduates in two very different fields/job roles with a huge gap between their salaries.


  • Registered Users, Registered Users 2 Posts: 43,028 SEPT 23 1989
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    not since 2008 happened

    most people will end up poorer than their parents




  • If money is your only goal, then a wisely chosen career and degree makes this possible.

    A good work ethic helps too. Is it better to work late every day in your twenties and retire early, or leave at 5pm every day until you're in your 60's?

    Different strokes for different folks, but yes it's certainly possible for the average person.

    So after the travailing and choosing a career as opposed to a job, which would mean starting work at graduate level in you mid twenties, then taking out a 250/300k mortgage and having children in your thirties, it will all be grand by your fifties, let alone relationship brake downs, illness or even the cost of sending the children to college.


  • Moderators, Category Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 40,537 ancapailldorcha
    CMod ✭✭✭✭


    I have a degree and a masters. I work in biotechnology and am moving to London next month where even renting a one bedroom flat will be a far off aspiration. I have no children, no debt and no car or other significant expense. So, yes. I would say that it is impossible for many people.

    The foreigner residing among you must be treated as your native-born. Love them as yourself, for you were foreigners in Egypt. I am the LORD your God.

    Leviticus 19:34



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  • Closed Accounts Posts: 1,488 mahoganygas
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    mariaalice wrote:
    So after the travailing and choosing a career as opposed to a job, which would mean starting work at graduate level in you mid twenties, then taking out a 250/300k mortgage and having children in your thirties, it will all be grand by your fifties, let alone relationship brake downs, illness or even the cost of sending the children to college.


    There are ways to do it. Can one of the parents take a career break, or work part time to mind the kids? Could they mind some neighbour's kids while they are at it to supplement the lost income? Also, how many kids?

    Look at how consumerism has taken over our lives and our spending patterns. Do we need more than 1 TV, along with all of the tablets, gadgets and smart phones? Is a second car really needed? Do we need to fly abroad for a holiday every single year? I've had as much fun on Irish holidays as I have on foreign ones.

    Living in Ireland has become more expensive for the average person. That doesn't mean it has to be you. Grow some veg, service you own car, buy used furniture, craft your Christmas presents, brew some home wine!


  • Registered Users, Registered Users 2 Posts: 1,049 Crea
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    If you are looking to have your mortgage paid off by your mid 50's you'd need to he buying a house by the time your 30 (based on a 25 year mortgage). Is it possible to have your travelling done by then and have a good foot on your career ladder by then - yes.
    It doesn't give any scope for taking a few years off to travel around working as a bartender though.
    I would say - pick a job you like. If your focus is on building a successful career in your 20's you'll be looking at putting in alot of hours and possibly further study. It can be soul destroying if it's not something you love.
    As for kids, once they are born they should become your main focus. I've seen too many parents who hardly see their kids because of their work hours. They say they are doing it to give the kids everything they need but the main thing they need is their parents around.
    Finally, while you may think you have all your ducks in a row with your career, house and kids life can get in the way. You/your partner / your child may become unwell, unemployment, wage decreases, relationship breakdown etc.

    There is no way you'd have enough put away to retire by 55 though. Mortgage and kids will eat your money.




  • There are ways to do it. Can one of the parents take a career break, or work part time to mind the kids? Could they mind some neighbour's kids while they are at it to supplement the lost income? Also, how many kids?

    Look at how consumerism has taken over our lives and our spending patterns. Do we need more than 1 TV, along with all of the tablets, gadgets and smart phones? Is a second car really needed? Do we need to fly abroad for a holiday every single year? I've had as much fun on Irish holidays as I have on foreign ones.

    Living in Ireland has become more expensive for the average person. That doesn't mean it has to be you. Grow some veg, service you own car, buy used furniture, craft your Christmas presents, brew some home wine!

    When my children were young we lived like that, I grow fruit and veg( they are not cheaper than the supermarket by the way its a hobby ) Food it very cheap in today society, however you have to have heat, electricity, and pay your property taxes insure your house and pay a mortgage if you have one.


  • Closed Accounts Posts: 39,022 Permabear
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    This post has been deleted.


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