Working 9-5 - I want to be rich

MondayBlues

Do you like your job?
Can you see yourself doing it for 45 years been a slave to someone else profiting off you if not self employed.
Do you like having your Monday to Friday controlled or even weekends controlled by your employer dictating your life?
Ever be in bed on a Monday morning absolutely wrecked and contemplate what you are doing with your life and absolutely dreading get out of the bed when all you want it a lie in after a hard weekend on the beer.
Do you find that life is slowly drifting you by having to work and not enough hours in the day to do the things that you like to do.

So I need ideas on how to get rich. If anyone can let me know i would greatly appreciate it.

I was thinking of maybe recycling used condoms, don't think anyone is doing that.

BeerWolf

Amass yourself a fair sum of money off your mundane job to be set aside to play the stock market.

If you know what you're doing and are doing well in the long run you can quit your job and survive off that, though it can be rather stressful keeping tabs of everything.

frag420

Get up at 4am, all the super rich folks do it!

Not sure what they do after that but it seems to work!

Mrcaramelchoc

frag420 wrote: »

Get up at 4am, all the super rich folks do it!

Not sure what they do after that but it seems to work!

Yea rich people never sleep.screw that I'm going back to bed.

daheff

sleep your way to the top

Van Doozy

Being self employed has distinct advantages, but many disadvantages too, which people on the outside looking in often under estimate. Don't forget that a lot of businesses either scrape by with a ton of hard work, or don't succeed at all.

A few disadvantages that spring to mind are being responsible for other people's incomes (not a problem if you're a sociopath or have a highly lucrative business), customers ringing you on Sunday mornings, having to work late at night or on Saturdays for no overtime, paying suppliers and staff before you pay yourself, taking risks etc etc

If you're lucky you'll do well and it will be worth it, but it isn't for a lot of people.

listermint

Your either happy in yourself, or your not.


The money in your pocket won't change that. There's plenty of young very unhappy wealthy people in the cemetery that can attest to that.

Mad_maxx

Most people are too dumb to ever be rich, I'm one of them

This is it

Why do only fools and horses work?

Your Face

First you need a montage showing you getting progressively more successful.

Greyfox

MondayBlues wrote: »

Do you like having your Monday to Friday controlled or even weekends controlled by your employer dictating your life?
Ever be in bed on a Monday morning absolutely wrecked and contemplate what you are doing with your life and absolutely dreading get out of the bed when all you want it a lie in after a hard weekend on the beer.
Do you find that life is slowly drifting you by having to work and not enough hours in the day to do the things that you like to do.

You need to spend about 40 hours a week working anyway as we all need money and all working is sh*te. Even if you like your job there's always about 100 things you could be doing that's more interesting than work. If you prefer working to enjoying life you need to find new things to do in your free time. The problem is when you realise the counting down to the weekend is counting down to the grave it usually takes a huge effort and cost to change career. I'm 38 and still thinking of going back to college.

The problem with running a business is you have to have a ruthless streak, be able to say no and get angry with people when its justified.. unfortunately I cant seem to do any of this which is pretty annoying

BailMeOut

get a job with good stock options and a bonus culture as you will not mind working your a$$ off when you are well rewarded for your efforts.

Beta Ray Bill

If getting rich was easy, everyone would do it.
Even if it were difficult and complicated, but there was a list of instructions on what you needed to, everyone would be doing it.

You hear these super rich people go on about how they were so smart and how the made their own luck and and how they made themselves from nothing and how they could do it all again...
But the truth of it is, it's just luck. You can influence the odds and stuff but ultimately it is down to luck.
Things like John interviews you for your Dream job instead of the usual interview Paul, and John doesn't like you but Paul would have and as a result you don't get the job.
Someone decides there isnt budget for that training course you really need, but if you were employed last year you'd have got it.

Little changes like that, that are completely out your control can end up having a huge impact on your life.

I've a good job and make a good bit of cash, but I've been lucky this time round. There are plenty of people doing my job that are earning less.

Hector Savage

listermint wrote: »

Your either happy in yourself, or your not.


The money in your pocket won't change that. There's plenty of young very unhappy wealthy people in the cemetery that can attest to that.

Bollix, I hate that **** "Money doesn't bring you happiness"
Such bull****, It clearly does!!

Beta Ray Bill

Hector Savage wrote: »

Bollix, I hate that **** "Money doesn't bring you happiness"
Such bull****, It clearly does!!

If you know what to do with, it can bring you happiness.
The best way it can make you happy is to buy you're friends and family things.

I noticed this myself only recently.
Nothing makes me happier than getting my kid a new toy and watching play with it.

In terms of money itself, there are things that are more important like health and family.

Basically.... Money can help, but it isn't the be all and end all

Greyfox

Hector Savage wrote: »

Bollix, I hate that **** "Money doesn't bring you happiness"
Such bull****, It clearly does!!

Yeah its usually people who have plenty of money who say it cant bring happiness.. these people are muppets

Mad_maxx

Beta Ray Bill wrote: »

If getting rich was easy, everyone would do it.
Even if it were difficult and complicated, but there was a list of instructions on what you needed to, everyone would be doing it.

You hear these super rich people go on about how they were so smart and how the made their own luck and and how they made themselves from nothing and how they could do it all again...
But the truth of it is, it's just luck. You can influence the odds and stuff but ultimately it is down to luck.
Things like John interviews you for your Dream job instead of the usual interview Paul, and John doesn't like you but Paul would have and as a result you don't get the job.
Someone decides there isnt budget for that training course you really need, but if you were employed last year you'd have got it.

Little changes like that, that are completely out your control can end up having a huge impact on your life.

I've a good job and make a good bit of cash, but I've been lucky this time round. There are plenty of people doing my job that are earning less.

It's not just luck, i had the chance to be rich several years ago but made the wrong choice, now im just reasonably comfortable

Successful people make a lot more right choices than wrong ones

Beta Ray Bill

Greyfox wrote: »

Yeah its usually people who have plenty of money who say it cant bring happiness.. these people are muppets

I disagree with you.
Watch Rocketman.
Elton John had all the money in the world and up until recently wasn't happy.

Drugs problems, relationships problems, career problems, issues with his parents, and accepting himself for who he is.

Money doesn't solve all your issues and instantly makes you happy.

If you won the lotto this week you'd be delighted, after a year though the novelty would wear off.
If you gave up your job you'd be bored out of your mind after a couple of years.

However the money would mean you could do more meaningful things with your life. (IE to help society) And this would give you happiness.

blackwhite

Beta Ray Bill wrote: »

If getting rich was easy, everyone would do it.
Even if it were difficult and complicated, but there was a list of instructions on what you needed to, everyone would be doing it.

You hear these super rich people go on about how they were so smart and how the made their own luck and and how they made themselves from nothing and how they could do it all again...
But the truth of it is, it's just luck. You can influence the odds and stuff but ultimately it is down to luck.
Things like John interviews you for your Dream job instead of the usual interview Paul, and John doesn't like you but Paul would have and as a result you don't get the job.
Someone decides there isnt budget for that training course you really need, but if you were employed last year you'd have got it.

Little changes like that, that are completely out your control can end up having a huge impact on your life.

I've a good job and make a good bit of cash, but I've been lucky this time round. There are plenty of people doing my job that are earning less.

TBH - this always seems like a cop-out to me.

If you don't work hard, and put yourself in the position to succeed, then "good luck" alone isn't going to make you rich (unless you do the Lotto).
You put the hard yards in so when/if an opportunity comes around (luck as some like to call it) you are able to capitalise on it.

There's a saying thrown around by golfers a lot; "The more I practice, the luckier I get."
That applies in many aspects of life

Beta Ray Bill

Mad_maxx wrote: »

It's not just luck, i had the chance to be rich several years ago but made the wrong choice, now im just reasonably comfortable

Successful people make a lot more right choices than wrong ones

I'd argue they're a lot more willing to take a risk. (And they've been lucky)
Was there risk involved in the chance you had to be rich several years ago?

Squall Leonhart

There's an element of luck. There's an element of hard work. There's an element of smart work.

I'm trying to think of the wealthiest people I know, there are a few multi-millionaires. One of them started off coming from a family that had money and a business, he was given a start by family money that he spent wisely in establishing and expanding a business for himself. Now his own businesses dwarf his original family business.

Another came from above average income family but nothing too wealthy, and has gone on to huge things in the US after making friends with the right people as a young man who afforded him opportunities most wouldn't have and after putting in the hard yards, now he's super wealthy and still relatively young at fifty.

As they say, the first million is the hardest to make! I well believe it. I think there are countless people who if given 100K to invest could end up very wealthy, it's just getting that initial lump together. Then again, there are countless others who if given 100K would have 0 in a year... so...

Beta Ray Bill

blackwhite wrote: »

TBH - this always seems like a cop-out to me.

If you don't work hard, and put yourself in the position to succeed, then "good luck" alone isn't going to make you rich (unless you do the Lotto).
You put the hard yards in so when/if an opportunity comes around (luck as some like to call it) you are able to capitalise on it.

There's a saying thrown around by golfers a lot; "The more I practice, the luckier I get."
That applies in many aspects of life

Not really.

As I said you can "influence the odds"
Which is basically what putting your head down to study or work hard or practice is.

But just because you do those things doesn't mean you'll achieve what you set out to achieve.
I know plenty or smart clever people (As I'm sure you do) that have worked their ballix off their whole lives to try and get ahead only for their luck to run out.

I myself am victim of this.
I'm 36, at this stage in my life I should have had my mortgage about 66% cleared, a nice car not older than 5 years, a nice bike and 2 or 3 holidays a year.

But something that happened 2 years ago f**ked all that in the bin on me.
Something that was out of my control and once it occurred I was unable to fix.
lucked out!

Anyway now I'm trying to rebuild, I have a good job, but it will take approx 5/7 years to recover financially

blackwhite

Beta Ray Bill wrote: »

Not really.

As I said you can "influence the odds"
Which is basically what putting your head down to study or work hard or practice is.

But just because you do those things doesn't mean you'll achieve what you set out to achieve.
I know plenty or smart clever people (As I'm sure you do) that have worked their ballix off their whole lives to try and get ahead only for their luck to run out.

I myself am victim of this.
I'm 36, at this stage in my life I should have had my mortgage about 66% cleared, a nice car not older than 5 years, a nice bike and 2 or 3 holidays a year.

But something that happened 2 years ago f**ked all that in the bin on me.
Something that was out of my control and once it occurred I was unable to fix.
lucked out!

Anyway now I'm trying to rebuild, I have a good job, but it will take approx 5/7 years to recover financially

That's very different to your original "It's all down to luck"

Luck alone won't bring success - just as hard work alone won't either.

Denigrating the value of hard work and effort in contributing to success is an utter falsehood - and that's what I took issue with in your original post.

nkl12xtw5goz70

Beta Ray Bill wrote: »

If getting rich was easy, everyone would do it.

Staying fit and healthy isn't all that difficult — don't eat more calories than you burn and do moderate exercise a few times a week. And yet 70 percent of Irish men are overweight. You say that if it were easy, everyone would do it, but that just isn't the case. Many people will fail at endeavors that require even a small amount of effort or dedication.

But the truth of it is, it's just luck. You can influence the odds and stuff but ultimately it is down to luck.
Things like John interviews you for your Dream job instead of the usual interview Paul, and John doesn't like you but Paul would have and as a result you don't get the job.

Increasingly, research shows that resilience is a key aspect of success.

One person doesn't get the job he wants, so he blames the interviewer or the company culture or bad luck or some other external factor.

Another person doesn't get the job he wants, so he looks critically at his CV, his interview technique, his skill-set, and his industry knowledge. He takes steps to improve in all these areas, seeking advice, taking courses, learning from others in the field, and reading widely.

A few years later, the first person is more likely to be stuck in a job he dislikes, bemoaning his poor fortune and blaming others, while the second person is more likely to have got ahead because he took proactive steps in response to failure.

machaseh

Life is basically 90% luck, and 10% hard work. You can achieve a lot through hard work, but if you were born in absolute poverty and destitution in a slum in India or something you're still not going to get very far even if you work hard all your life, and that is just the way it is. The better your circumstances that you were born and raised with, the better your odds of having your hard work pay off and become rich.

Within a 9 to 5 environment, the best odds to become rich would be:

- The right skills in the right industry (software development and the like)
- Very good soft skills landing you a management role in which you can grow further in the organization
- A good Sales position where you exceed your targets and land bonuses, requiring excellent Sales soft skills.

You are either a salesman or you're not. I am NOT a salesman. Yes, I have enough experience and skills to maybe talk myself into a sales position if I really try hard, but my personality is simply not good for sales. I am introvert and shy and am not very good at intrigue or things like that, so I would never do well in such a position. Same would be for any management position.

B.A._Baracus

Running your own business is hard.
Apart from that most fail it's just hard to get business. A lot of it is hard work and luck too. The grass is always greener always comes to my mind when people talking about having their own business.

Greyfox

Beta Ray Bill wrote: »

Money doesn't solve all your issues and instantly makes you happy.

If you won the lotto this week you'd be delighted, after a year though the novelty would wear off.
If you gave up your job you'd be bored out of your mind after a couple of years.

However the money would mean you could do more meaningful things with your life. (IE to help society) And this would give you happiness.

It's insulting to normal people when a rich person says money doesnt make you happy as it solves most problems and lots of money makes life 100 times easier. IF your wise with money it can make you very happy. Yes there are some things like people you care about not accepting who you are or family tragedys that cant be avoided but money covers most issues. You could invest the money in your health, making new friends or looking after your family that will lead you been happier. You can also pay people to do all the day to day things you find tedious like housework. Sure if you have kids you can pay someone to do all the work and you just do the few fun bits.

If I won the lotto I would never have to work again and this alone would make life miles better for me just as long as I continue to appreciate how lucky I am. I would NEVER get bored and there's too many films, books, games, tv shows, songs, documentaries etc to get stuck into. Also with lots of money you never run out of new places to visit, new hobbies or new friends to make.

Beta Ray Bill

blackwhite wrote: »

That's very different to your original "It's all down to luck"

Luck alone won't bring success - just as hard work alone won't either.

Denigrating the value of hard work and effort in contributing to success is an utter falsehood - and that's what I took issue with in your original post.

It's not really.
Let me invert it for you, how many people do you know that are absolutely cruising it through life.
Never had to work hard, things always seem to come up trumps for them.
They're not rich, but they have a rich lifestyle and don't have to work really really hard. I know more of these people than I do people that have made it through serious effort and hard work.
they are were they are cause they got lucky.

Kassandra Black Bamboo wrote: »

Staying fit and healthy isn't all that difficult — don't eat more calories than you burn and do moderate exercise a few times a week. And yet 70 percent of Irish men are overweight. You say that if it were easy, everyone would do it, but that just isn't the case. Many people will fail at endeavors that require even a small amount of effort or dedication.

No it's not, not for everyone.
My mates can eat/drinks what ever the hell they want and still look great, they don't train/exercise at all.
I've to hit the gym 5 days a week to stay fit(ish)
They have the good genes, I don't. they were lucky in this respect, I was not.

Kassandra Black Bamboo wrote: »

Increasingly, research shows that resilience is a key aspect of success.

I'd agree with you on this, if you keep trying you'll eventually achieve what you set out to achieve. But again this is playing the odds.
The more goes you have the better chance you have at succeeding.

Greyfox wrote: »

It's insulting to normal people when a rich person says money doesnt make you happy as it solves most problems and lots of money makes life 100 times easier.

Yes I agree it can make it easier, but I thought we were talking about happiness (I should have been clearer)

Greyfox wrote: »

IF your wise with money it can make you very happy. Yes there are some things like people you care about not accepting who you are or family tragedys that cant be avoided but money covers most issues. You could invest the money in your health, making new friends or looking after your family that will lead you been happier.

I basically said this, you spend the money on the people you love to make yourself happy.

Greyfox wrote: »

You can also pay people to do all the day to day things you find tedious like housework. Sure if you have kids you can pay someone to do all the work and you just do the few fun bits.

I wouldn't pay someone to look after my kid after having my eyes opened for me in the last 2 years

Greyfox wrote: »

If I won the lotto I would never have to work again and this alone would make life miles better for me just as long as I continue to appreciate how lucky I am. I would NEVER get bored and there's too many films, books, games, tv shows, songs, documentaries etc to get stuck into. Also with lots of money you never run out of new places to visit, new hobbies or new friends to make.

You will get bored eventually, trust me
Look at people that have achieved their goals early in life and stopped working cause they have a huge amount of cash in the bank.
They go off the rails. Sport stars are a particularly good example of this.

Sleepy

You'll never get rich from work. The Capitalist system is pretty much designed that way (Capital being more richly rewarded than Labour).

You get rich from luck: a lottery win, a high-risk investment working out, being an early employee in a start-up that blows up, being born with a great talent etc. The main contributing factor in wealth is simply winning the genetic lottery. I can't think of any of the Silicon Valley billionaires that came from poor backgrounds, almost all came from privileged upper middle class backgrounds: your parents have to be able to afford the tuition at Harvard before you can drop out of it!

Good decision making and a strong work ethic are requirements to being a self-made man / woman but without the benefit of family support for your education, social capital and / or wealth to fall back on they're rarely enough on their own. The "self made millionaire" of the American dream is exactly that: a dream, and it's no different here in Ireland: the Collison brothers weren't raised in O'Malley Park; the Happy Pear lads grew up in leafy Greystones; Michael O' Leary went to Clongowes; Denis O' Brien is from Ballsbridge; Enya while born with a talent had the family support to be educated at a boarding school and the family band to launch her career from. 99% of those making big money in top law/finance firms have had advantages the average person doesn't (family connections, expensive educations etc.)

Even if that's just the knowledge that your childhood bedroom will still be there for you should your entrepreneurial venture leave you penniless or if the high risk startup you took a job with goes belly up without paying you, it's a safety net not everyone has.

MrAbyss

Easy.

Rent, and do not get on the property ladder. Don't get married and if you want to, then tell your woman that a cheap civil service and no lavish reception is all she is getting. Do not have kids. Live in an area you can use public transport and not have a big car payment and running costs eating you alive.

SAVE THIS MONEY - put half into the stock market and continue to do the 9 to 5 job. Watch your disposable income grow and suddenly you'll have loads of money that your moron friends 'doing the whole wedding, settling down, kids, mortgage thing' OUT OF PEER PRESSURE do not have.

I discovered all this by observing the Homosexual Fiscal Model. Don't marry some bitch or knock her up! This is key to financial success.

Cordell

Working 9-5 failed to make me rich in the last 20 years or so, I'd say it's fair to assume that's not going to make me rich anytime soon. Or ever, for that matter.

Capital being more richly rewarded than Labour

That is true and also it's fair: working yourself you can only do so much, paying others to work can accomplish much more - but also the failure is much worse, so it's not only the rewards, it's also the risk.

machaseh

MrAbyss wrote: »

Easy.

Rent, and do not get on the property ladder. Don't get married and if you want to, then tell your woman that a cheap civil service and no lavish reception is all she is getting. Do not have kids. Live in an area you can use public transport and not have a big car payment and running costs eating you alive.

SAVE THIS MONEY - put half into the stock market and continue to do the 9 to 5 job. Watch your disposable income grow and suddenly you'll have loads of money that your moron friends 'doing the whole wedding, settling down, kids, mortgage thing' OUT OF PEER PRESSURE do not have.

I discovered all this by observing the Homosexual Fiscal Model. Don't marry some bitch or knock her up! This is key to financial success.

Jaysus you're not the brightest of the bunch are ya.

1. Rent dont get property - I'm paying 600 quid a month for a tiny bedroom in an old dump in Dublin city. Do you know what I could get for a 600 quid monthly mortage payment? Probably a quite decent gaf . If you CAN buy, you should buy, it's just that most people (like myself) can't.

2. Don't get married - Sure, no plans here at all to get married any time soon, but I also don't want to be living in a tiny room for the rest of me life, at some point I'd like me own gaf thank you very much. I'm 27 now and have been living in shared housing since I was 17. And what do you think yer own gaf costs in Dublin? Very very dear for a single working person. would rather share it with a working partner once I get a long term relationship thank you very much.

3. No lavish reception - of course lavish weddings are something easy you can save on by making it a lot less lavish.

4. No kids - yup that's a nobrainer. I'm also never getting any. Would be too dear for me even if I wanted them anyway.

5. Use public transportation instead of a car - As much as I'd like to agree with you here, keep in mind that pt in Ireland is hardly existent outside of Dublin and even then the closer to the city center, the more usable it is. And where are the rents too dear? Yup, in Dublin city.

6. Save this money - what money exactly? I am currently doing everything you say (no kids, live near public transportation and have no car, no wife and no plans for a wedding reception, not on the property ladder) and I hardly have enough money left at the end of the month.

Greyfox

Beta Ray Bill wrote: »

Yes I agree it can make it easier, but I thought we were talking about happiness (I should have been clearer)

I wouldn't pay someone to look after my kid after having my eyes opened for me in the last 2 years

You will get bored eventually, trust me
Look at people that have achieved their goals early in life and stopped working cause they have a huge amount of cash in the bank.
They go off the rails. Sport stars are a particularly good example of this.

I believe if you pick the right options money does bring happiness.

You have the option though, many people cant afford regular babysitters which would allow them to spend more quality time with there partner

No I wouldn't, I know that much about myself for certain. If you've lots of money and your getting bored your a complete and utter gobsh*te, basically an idiot who worked hard for nothing. I have to give up 40 hours of my week to enjoy life, 40 hours is a lot considering time is the most precious thing in the world. If I didnt have to work I could spend all day every day doing whatever I want to do, a lifetime is not long enough to experience everything the world offers.

I get football players finding it hard to adjust to been a normal joe soap again but if your business defines you then you shouldnt change what you do until your health forces you to. I would'nt get bored as my passion would always be with things that are not work related

NoteAgent

Sleepy wrote: »

You'll never get rich from work. The Capitalist system is pretty much designed that way (Capital being more richly rewarded than Labour).

You get rich from luck: a lottery win, a high-risk investment working out, being an early employee in a start-up that blows up, being born with a great talent etc. The main contributing factor in wealth is simply winning the genetic lottery. I can't think of any of the Silicon Valley billionaires that came from poor backgrounds, almost all came from privileged upper middle class backgrounds: your parents have to be able to afford the tuition at Harvard before you can drop out of it!

Good decision making and a strong work ethic are requirements to being a self-made man / woman but without the benefit of family support for your education, social capital and / or wealth to fall back on they're rarely enough on their own. The "self made millionaire" of the American dream is exactly that: a dream, and it's no different here in Ireland: the Collison brothers weren't raised in O'Malley Park; the Happy Pear lads grew up in leafy Greystones; Michael O' Leary went to Clongowes; Denis O' Brien is from Ballsbridge; Enya while born with a talent had the family support to be educated at a boarding school and the family band to launch her career from. 99% of those making big money in top law/finance firms have had advantages the average person doesn't (family connections, expensive educations etc.)

Even if that's just the knowledge that your childhood bedroom will still be there for you should your entrepreneurial venture leave you penniless or if the high risk startup you took a job with goes belly up without paying you, it's a safety net not everyone has.

This theory about most rich peole being born into wealth has been proven time and time again to be wrong. Something like only 5% of the Forbes 400 inherited their wealth.

Theres far more examples of people whose fortunes were made themselves rather than being inherited.

Tangatagamadda Chaddabinga Bonga Bungo

Money doesn't buy you happiness, but it does buy you freedom.

Sleepy

Another aspect of luck: the economic conditions when you leave education. I remember when starting college the dot-com boom was raging, we were being given expectations of 35-40k jobs straight out of college. By the time we finished in 2003, I was one of a handful who was able to find work in IT and started on something like 24k. Even then, comparatively speaking, I was lucky: 2003 was still during the Celtic Tiger years so salary progression was amazing for the first few years of my career and within 2/3 years I would have been nearer 50k. Not amazing money by any means but a far better place than most who graduated during the recession would have been able to achieve (if indeed, they managed to find work at all rather than a job-bridge internship or the like).

Looking back further, anyone in my parents generation who managed to get a mortgage between the late 70's and early 90s) would have done amazingly well out of the massive growth in property prices during the 90s. Again, just good luck.

wakka12

It sucks. But its what we must do to afford the privilege of modern comforts we take for granted. Nobodys forcing you to work, you can live in a cave and keep a small farm 'off grid' if you want tolive a life with no responsibilties to others, but you dont want that, and most people dont either, we want better, so we have to hold up our end of the deal to support that. Could be worse really. Hopefully all that 4 day week talk leads to something

machaseh

wakka12 wrote: »

It sucks. But its what we must do to afford the privilege of modern comforts we take for granted. Nobodys forcing you to work, you can live in a cave and keep a small farm 'off grid' if you want tolive a life with no responsibilties to others, but you dont want that, and most people dont either, we want better, so we have to hold up our end of the deal to support that. Could be worse really. Hopefully all that 4 day week talk leads to something

To be fair me mate is working 4 day weeks. Your man lives in the Netherlands and has his own very tiny studio apartment. Of course he gets a much lower salary than meself as he only works a 4 day week, but he never travels (he's afraid of traveling anyway even if he could afford it), hardly ever goes out (he's got a girlfriend so prefers to just sit in with her rather than go out), and gets by fine this way. Said tiny studio apartment is however partially state-subsidized (something that does not exist in Ireland) making it affordable for him to lead this lifestyle.

I would probably be able to save a lot more if I never went out, but my life would just be very boring playing video games all day. I do always try to invite friends over to me gaf for some cans rather than having 6 euro pints in a pub, but this is simply not always logistically possible due to various reasons. For example if there's after work drinks going on it's going to be in the pub and not at someones gaff you see. Things like that.

The long friday benders that I used to do in the pubs are kind of over though. They left me with a reasonably serious drinking problem at times not to mention out of pocket. Nowadays I try to only come over at a later point in time or make sure that something is planned for later in the day to avoid spending all day at the pub pissing my pay away.

Obvious Desperate Breakfasts

Beta Ray Bill wrote: »

If getting rich was easy, everyone would do it.
Even if it were difficult and complicated, but there was a list of instructions on what you needed to, everyone would be doing it.

You hear these super rich people go on about how they were so smart and how the made their own luck and and how they made themselves from nothing and how they could do it all again...
But the truth of it is, it's just luck. You can influence the odds and stuff but ultimately it is down to luck.
Things like John interviews you for your Dream job instead of the usual interview Paul, and John doesn't like you but Paul would have and as a result you don't get the job.
Someone decides there isnt budget for that training course you really need, but if you were employed last year you'd have got it.

Little changes like that, that are completely out your control can end up having a huge impact on your life.

I've a good job and make a good bit of cash, but I've been lucky this time round. There are plenty of people doing my job that are earning less.

Luck and being willing to work ridiculous hours and have no work-life balance at all. Most people aren’t willing to do that, me included (when I worked). I very much valued (and still do) my ‘sitting on the sofa, talking shite with my husband’ time.

machaseh

Obvious Desperate Breakfasts wrote: »

Luck and being willing to work ridiculous hours and have no work-life balance at all. Most people aren’t willing to do that, me included (when I worked). I very much valued (and still do) my ‘sitting on the sofa, talking shite with my husband’ time.

And I believe it's wrong to blame people who have normal 9-5's like anybody that 'they are not working hard enough to be rich'.

I have a normal 9-5 IT job. I am not sure what exactly I would accomplish by working even more. I cannot even do paid overtime in this job, so how exactly would I earn more?

Sure I could go work as a bartender on the evenings and weekends, but then I would struggle to function properly in my day job. I don't think it would be effective at all, except for a short-term emergency situation where i'd need a whole lot of money.

Sure I could study more on the side. I do in fact get some certs in my current jobs and opportunities for trainings, which I could make more use of, but then again I already got 3 certs in this year which is the first year in my role so I think I'm already kinda doing that.

I am not sure what else I could do to get rich while being in this job honestly. Do code academy at home on weekday nights? I'm super tired whenever I get out of work and all I want is a kan of Karpackie and rest on the couch. Then I do some house hold chores then it's already not much time until I go to bed.

Dr. Bre

Working 9-5 what a way to make a living.,,

Sleepy

NoteAgent wrote: »

This theory about most rich peole being born into wealth has been proven time and time again to be wrong. Something like only 5% of the Forbes 400 inherited their wealth.

Theres far more examples of people whose fortunes were made themselves rather than being inherited.

What percentage of them were orphans or raised by deadbeats on welfare? I'm guessing far less than 5%!

What I'm talking about isn't being born into wealth, but being born into an environment that allows you to progress in life: parents that are supportive of your education, who might have a few connections to get you early opportunities in your chosen career path, that can afford to help you through college, etc.

14dMoney

Sleepy wrote: »

What percentage of them were orphans or raised by deadbeats on welfare? I'm guessing far less than 5%!

What I'm talking about isn't being born into wealth, but being born into an environment that allows you to progress in life: parents that are supportive of your education, who might have a few connections to get you early opportunities in your chosen career path, that can afford to help you through college, etc.

I dunno the % but there is a few. The late Lord Ballyedmond from Louth was one. He accomplished a lot through hard work and innovation.

Larry Ellison was born in the poorest slums in New York.

Roman Abramovich was an orphan.

Howard Schultz grew up in a housing project.

There's countless real world examples.

https://www.inc.com/business-insider/billionaires-who-went-from-rags-to-riches.html

Sleepy

Exceptions that prove the rule tbh. Though, again, you have to look at a few factors here, most on that list were born into supportive family backgrounds at times when third level education was cheap (try pay your way through a US university with a part-time job these days!) and the post-war economy was booming. Roman Abromovich seems a poor example to emulate given that his wealth is largely the proceeds of criminal activity, but hey, I suppose it's a means of getting rich without doing a 9 to 5.

You can, of course, still have a shot at being rich if you're an ordinary person. It just involves a hell of a lot of sacrifice. Work part-time throughout your secondary education and save 90% of what you earn. Keep up the part-time job through college and live at home with your parents if the commute is in any way possible. Don't drink, travel or bother with expensive hobbies or clothes. Choose a degree course for it's employment prospects rather than your passions unless they happen to align. Don't get into romantic relationships with anyone who earns less than you, who doesn't share your financial discipline, who wants a family and who isn't going to stop you from moving wherever you need to in order to maximise your income. Be prepared to walk from any relationship where the other party starts to change their views on any of this. Put off having kids until you're in your at least knocking into your forties and avoid situations that may result in you having them against your will (i.e. get a vasectomy or stay celibate if you're a straight guy).

Keep saving most of your income once you're in full-time employment and do whatever's necessary to keep your outgoings low (live in the cheapest house share you can find that has a suitable commute for work, or stay living off Mammy & Daddy if that's an option, don't buy a car unless it's essential for work and is covering it's own costs via mileage or an pay raise related to a new role etc.). Find a role where you'll gain skills the contracting market is strong for and as soon as you've got the skills to do so, go out on your own as a day rate contractor. Hire a good accountant to help minimise your tax liabilities. Continue living as cheaply as possible while ploughing as much of your income as possible into investments.

By the time you're in your early 40's you should have the price of a decent house should you want to step off the gas a bit and actually have a life. At that point you'd be advanced enough in your career to command a good salary and living mortgage free, you'd be in a very comfortable place. But still, not quite "rich".

Forget the idea of having a family life and continue on saving and investing as much of your take-home pay as humanly possible and you could probably retire quite easily in your 50s. Thing is, you're unlikely to have anything to retire for by that stage and will have utterly, irrevocably wasted your youth.

14dMoney

Sleepy wrote: »

Exceptions that prove the rule tbh. Though, again, you have to look at a few factors here, most on that list were born into supportive family backgrounds at times when third level education was cheap (try pay your way through a US university with a part-time job these days!) and the post-war economy was booming. Roman Abromovich seems a poor example to emulate given that his wealth is largely the proceeds of criminal activity, but hey, I suppose it's a means of getting rich without doing a 9 to 5.

You can, of course, still have a shot at being rich if you're an ordinary person. It just involves a hell of a lot of sacrifice. Work part-time throughout your secondary education and save 90% of what you earn. Keep up the part-time job through college and live at home with your parents if the commute is in any way possible. Don't drink, travel or bother with expensive hobbies or clothes. Choose a degree course for it's employment prospects rather than your passions unless they happen to align. Don't get into romantic relationships with anyone who earns less than you, who doesn't share your financial discipline, who wants a family and who isn't going to stop you from moving wherever you need to in order to maximise your income. Be prepared to walk from any relationship where the other party starts to change their views on any of this. Put off having kids until you're in your at least knocking into your forties and avoid situations that may result in you having them against your will (i.e. get a vasectomy or stay celibate if you're a straight guy).

Keep saving most of your income once you're in full-time employment and do whatever's necessary to keep your outgoings low (live in the cheapest house share you can find that has a suitable commute for work, or stay living off Mammy & Daddy if that's an option, don't buy a car unless it's essential for work and is covering it's own costs via mileage or an pay raise related to a new role etc.). Find a role where you'll gain skills the contracting market is strong for and as soon as you've got the skills to do so, go out on your own as a day rate contractor. Hire a good accountant to help minimise your tax liabilities. Continue living as cheaply as possible while ploughing as much of your income as possible into investments.

By the time you're in your early 40's you should have the price of a decent house should you want to step off the gas a bit and actually have a life. At that point you'd be advanced enough in your career to command a good salary and living mortgage free, you'd be in a very comfortable place. But still, not quite "rich".

Forget the idea of having a family life and continue on saving and investing as much of your take-home pay as humanly possible and you could probably retire quite easily in your 50s. Thing is, you're unlikely to have anything to retire for by that stage and will have utterly, irrevocably wasted your youth.

Utter garbage. What it proves is that people from all walks of life, given the drive, motivation and brains, can create a fortune for themselves.

Some people don't want to work hard, or make the sacrifices necessary to run a business, and that's fine. That doesn't mean that those who have had the drive and motivation, haven't earned it.

I'm guessing you've never owned a business? 8 hours is a half day when you do.

One More Toy

Getting rich is easy if you are patient

You start a pension fund as soon as you start work (even better if your employer pays into it)

Retire at 50.

It still means 30 years of work but its something that requires patience

14dMoney

One More Toy wrote: »

Getting rich is easy if you are patient

You start a pension fund as soon as you start work (even better if your employer pays into it)

Retire at 50.

It still means 30 years of work but its something that requires patience

This.

Also I'd say careful investment. I buy stocks with 10% of my paycheck every month, and it's fun watching the pot grow steadily for retirement.

One More Toy

14dMoney wrote: »

This.

Also I'd say careful investment. I buy stocks with 10% of my paycheck every month, and it's fun watching the pot grow steadily for retirement.

As long as you have the balls to adjust to a 30 per cent decline in a recession

Sleepy

14dMoney wrote: »

Utter garbage. What it proves is that people from all walks of life, given the drive, motivation and brains, can create a fortune for themselves.

Some people don't want to work hard, or make the sacrifices necessary to run a business, and that's fine. That doesn't mean that those who have had the drive and motivation, haven't earned it.

I'm guessing you've never owned a business? 8 hours is a half day when you do.

I thought similarly when I was young and naive too.

Making a fortune requires drive, hard work and brains. That's not in dispute. If you think that's all it requires, however, you're deluded.

It also needs a large element of luck: the right parental support to educate those brains, the fortuitous meetings with the right people that allow you to build a business, favourable economic conditions for your business model, your customers to be able to pay their invoices, the legal and regulative environment that respects your right to own that business or any of it's patents or intellectual property, a favourable tax regime, employees/accountants that don't steal from you, the good fortune not to end up losing everything due to an injury at work claim or to be put out of business because insurers won't provide public liability insurance etc. etc. etc. I could keep going, but it comes down to luck.

There's a lovely comic that explains the concept of the privilege that even a normal middle-class upbringing (never mind a wealthy one) gives an individual better than I ever could:

https://www.rnz.co.nz/news/the-wireless/373065/the-pencilsword-on-a-plate

sondagefaux

It's your lucky day OP. My late uncle was a general in the Libyan Army...

Greyfox

One More Toy wrote: »

Getting rich is easy if you are patient

It's not easy if you have a crap salary