For those 30+: What would you do differently?

[crownie]

I have read this previously, but would love some more ideas.

Should I travel and spend my money or save and be well off later?
Should I get a job that pays well or do my own thing and have a good lifestyle.

I've been thinking about it lately and I pretty sure when I finish my degree I'm doing to spend two weeks (or however long) on a beach and see what I actually want from my life. Thoughts would be very beneficial, thanks

everybody is different but i have always believed in having some form of savings incase of a rainy day.

Have seen people go overseas for 2 years to come back to nothing and struggle for another 2-3 years just to get their head above water financially, I'm sure the memories are nice but most will eventually fade.

It depends what kind of travel you want to do, if you work for 3-4 years then travel for an extended period you will probably appreciate it more and be a little more mature as well so you won't make stupid decisions when overseas plus no stress when you come back with still some money in the bank waiting.

Whatever you do you don't want to be entering your 30's without enough savings to put a deposit on a house or have a resume that makes you look like an unreliable worker.

 

[Resistor]

everybody is different but i have always believed in having some form of savings incase of a rainy day.

Have seen people go overseas for 2 years to come back to nothing and struggle for another 2-3 years just to get their head above water financially, I'm sure the memories are nice but most will eventually fade.

It depends what kind of travel you want to do, if you work for 3-4 years then travel for an extended period you will probably appreciate it more and be a little more mature as well so you won't make stupid decisions when overseas plus no stress when you come back with still some money in the bank waiting.

Whatever you do you don't want to be entering your 30's without enough savings to put a deposit on a house or have a resume that makes you look like an unreliable worker.

Thanks for that. I think that is very helpful, I think the work straight out of uni would be good. Although I'm going engineering at uni, and I don't know if that is actually the field where I want to work. I would have no qualms working at Bunnings for a while when I am finished. No stress at bunnings at all compared to uni I'd say and probably just to reset my head out of the schooling life. I think I need a break

 

[TheMightyEagles]

I just finished my Masters last year, spending the first half of this year building furniture then just bought airfares to spend the last four months of the year in SEAsia... When I get back, despite solidly working throughout uni, I won't have a dollar to my name after two previous extensive trips in Central Asia and Europe. Im pretty sure I won't ever regret a thing. Turning 26 this year (not old, but at a point where some maturity is expected from me I suppose...)

I'm sure you'll be fine with two weeks .

I was in a very similar position and since then I've more than made up for it. So +1.

What's become apparent to me with age is so much external stuff lies outside your knowledge and control. Take property for example. Hardly anybody foresaw what was about to happen with the house prices. The ppl who made the money were in the right place at the right time. So don't waste too much time forecasting your life during your 20s (like I did) because you are almost always missing some key variable.

Instead focus your energies on continuously developing yourself. Your knowledge, skills, character, wisdom, resilience, integrity etc. These are the things that will differentiate you from your peers in time to come. Take one simple virtue like loyalty for example. In a world where ppl are constantly changing jobs and careers, this will get you so far. I've seen average ppl make great money and enjoy much prestige from understanding this. As Woody Allen said, "80% of success is just showing up." this would be my advice.

 

[TheMightyEagles]

Also get the obnoxious but hot women out of your system and then choose a virtuous wife. Makes life much ****ing easier.

 

[Dagless]

I was in a very similar position and since then I've more than made up for it. So +1.

What's become apparent to me with age is so much external stuff lies outside your knowledge and control. Take property for example. Hardly anybody foresaw what was about to happen with the house prices. The ppl who made the money were in the right place at the right time. So don't waste too much time forecasting your life during your 20s (like I did) because you are almost always missing some key variable.

Instead focus your energies on continuously developing yourself. Your knowledge, skills, character, wisdom, resilience, integrity etc. These are the things that will differentiate you from your peers in time to come. Take one simple virtue like loyalty for example. In a world where ppl are constantly changing jobs and careers, this will get you so far. I've seen average ppl make great money and enjoy much prestige from understanding this. As Woody Allen said, "80% of success is just showing up." this would be my advice.

Yep, and continuing your second paragraph, I think people underestimate how much you can do whilst studying to make you a hire-able asset outside of your overall marks. I have a mate who does software engineering and is active enough in projects and the community that he's been recommended to some massive paying jobs and developers despite still studying. It depends on the degree, but I was student rep in the masters course and head of the end of degree event that is heavily involved with the industry in question. They suggest different traits that are actually quite important assets to different companies and firms. They may sound silly, but all these small things help whilst rarely being that much of a personal burden (sadly not the case in my degree, alas...)

 

[crownie]

Instead focus your energies on continuously developing yourself. Your knowledge, skills, character, wisdom, resilience, integrity etc. These are the things that will differentiate you from your peers in time to come. Take one simple virtue like loyalty for example. In a world where ppl are constantly changing jobs and careers, this will get you so far. I've seen average ppl make great money and enjoy much prestige from understanding this. As Woody Allen said, "80% of success is just showing up." this would be my advice.

great advice, i wasted 3 years in my early 20's doing a job for peanuts but felt i had to stay and be loyal, yep i now know i was wrong.

 

[TheMightyEagles]

great advice, i wasted 3 years in my early 20's doing a job for peanuts but felt i had to stay and be loyal, yep i now know i was wrong.

I thought someone might say this. Obviously all these things require discretion. I'm not saying stay in the same job with jerks for your whole life. Plus my main point is investing in yourself is the best long term investment.

 

[crownie]

I thought someone might say this. Obviously all these things require discretion. I'm not saying stay in the same job with jerks for your whole life. Plus my main point is investing in yourself is the best long term investment.

you thought correct, most people probably look back at that one job like that.

My dad was with the same company all his life, financially looking back he might of been better off doing the same role at another company once he got experience.

 

[Scotland]

Take one simple virtue like loyalty for example. In a world where ppl are constantly changing jobs and careers, this will get you so far. I've seen average ppl make great money and enjoy much prestige from understanding this. As Woody Allen said, "80% of success is just showing up." this would be my advice.

Dangerous advice, IMO. Don't be afraid to be selfish.

I've seen plenty of loyal people get burned through relationships and career decisions because they put others first.

 

[TheMightyEagles]

you thought correct, most people probably look back at that one job like that.

My dad was with the same company all his life, financially looking back he might of been better off doing the same role at another company once he got experience.

I actually posted a thread in SR&P a while back on workplace bullying. My first gig was terrible. My boss was a total nut job. But I stuck it out for a year and got an intra firm transfer. Now I earn 3 times what that turkey makes. So as I said, I'm not encouraging blind loyalty but rather the virtue of sticking something out and not jumping at whatever shiny new thing appears when things get tough.

Plus a key ingredient of loyalty is trust. Don't give loyalty to someone who is undeserving may be your main point here.

 

[TheMightyEagles]

Dangerous advice, IMO. Don't be afraid to be selfish.

I've seen plenty of loyal people get burned through relationships and career decisions because they put others first.

In law, lots of ppl jump between firms to get 10k pay rises or whatever. But they lose all their political capital in their previous firm and end up in no man's land come partnership time. Then you get dingbats who never leave and get made up because they've done the hard yards. So it goes both ways.

 

[Bomberboyokay]

How are we defining loyalty? Colleagues/Superiors may appreciate it but the business itself almost never will.

 

[TheMightyEagles]

How are we defining loyalty? Colleagues/Superiors may appreciate it but the business itself almost never will.

Well maybe persistence is a better word.

 

[Scotland]

In law, lots of ppl jump between firms to get 10k pay rises or whatever. But they lose all their political capital in their previous firm and end up in no man's land come partnership time. Then you get dingbats who never leave and get made up because they've done the hard yards. So it goes both ways.

I've never worked for a law firm, so I can't comment on the law fraternity specifically. I'd be surprised if there weren't suckers working 80 hour weeks for peanuts who never get anywhere while others coast to the level of partner through connections.

AFAIC, if you're valued by a business then you'll be rewarded. If you're not, then you won't be.

 

[TheMightyEagles]

I've never worked for a law firm, so I can't comment on the law fraternity specifically. I'd be surprised if there weren't suckers working 80 hour weeks for peanuts who never get anywhere while others coast to the level of partner through connections.

AFAIC, if you're valued by a business then you'll be rewarded. If you're not, then you won't be.

Sure and that goes back to my original point of investing in yourself (including your EQ and networks). The loyalty point was simply an example we've all run with, but it's certainly not enough by itself to bring success. If someone sucks in all other respects, the best loyalty "may" bring is a steady paycheck.

 

[bradrowe#32]

Have a clearer direction coming out of high school. Going to a school in the country there were limited resources and we just didn't have the information that kids get nowadays about the different things out there. I'm pretty jealous of this generation tbh. I missed a lot of opportunities, but I'm also to blame because I didn't think about it too much back then.

I spent most of my 20s just drifting along, working in areas that interested me. I worked in the music industry for three years which had it's moments, but the pay was poor. I worked at the Australian War Memorial for two years because it seemed interesting (and it was).

I've got two degrees (Arts and Journalism) which are pretty much useless to me now, although did learn some good stuff. I did sports reporting for two years, but not full-time and the opportunities for full-time work were very tough even though I was prepared to move anywhere to get a chance. Realistically, I probably wasn't good enough anyway.

I'm 34 now and have thought about studying again, but I feel time and cost are against me. I have a few areas of interest, but getting a third bachelor degree is a bit ridiculous and I'm not sure if the end outcome will amount to anything.

Got a decent job in warehousing now and the pays pretty good for what it is. Had a warehouse management job before this one, which I did reasonably well at but the pay was really poor. This current job is really easy and has enabled me to build a small house in the suburbs. Also gives me time to work on other little projects, such a book about my local footy club.

Moved around a lot so never really made any good friends, never traveled (didn't really want to), just sort of spectated through life. Don't really have any regrets about this, it's just what it is.

Anyway, I'm happily married and happy with my life - got three dogs, a good group of colleagues and a pretty free existence. Don't think I ever reached my potential, but I'm still working at it.

 

[Smiling Buddha]

bradrowe#32 Terrific post. Thanks brother.

 

[Hudu Gurusingha]

32 now, and I have some regrets. Regret not going on to do post-grad at uni in something Id enjoy, like biomechanics, sports psychology or something. Now I'm doing a hatefully shit job (OHS and injury management).

Have tried to not get too bogged down with mortgage and debts that would make a transition into another career impossible. I have a pretty manageable mortgage that I share with my missus and no kids on the horizon so there is still room to move, which Im thankful for cos Im quitting my job this week.

My advice to the youngsters: don't get too bogged down too early. The big house, the family, the wedding can wait. Find what you love doing first. Always have room to move. Live slightly below your means. And realize that continually striving for better things isnt always the way to happiness. A better car, a better paying job, and bigger house - all this means is more financial commitment and less room to move if you get bogged down in a job you hate or something similar.

 

[Scotland]

Time = money. Learn the value of time, and learn the value of money.

My first job out of uni I think I banked about $1300 a fortnight which is really not a whole lot, but to someone who'd been a student the past 5 years earning $2-300 a week it's a step up. I lived in a share house (which was pretty much falling down) where my rent was about $450 a month, drove the same car I had when I had when I was at uni, paid my bills, went out on the piss etc. and still managed to save maybe $1-200 a week of my $650. The whole reason I did that (other than I just didn't need to spend any more to maintain the lifestyle I was used to) was that I had approximately zero to my name. From memory I walked out the door of the university with about $200 in the bank and approaching $40k in HECS fees hanging over my head.

Didn't love that job but stuck it out for around 18 months until I landed another. In that time my $1300 became $1500 then about $1700 by the time I left. Still not huge money, but I was still in a period of life where I had no commitments and my lifestyle was really doing most of the same things I did when I was a student just with the freedom of not having to eat 2 minute noodles or work nights, so an extra $200 or $400 a fortnight is basically just excess money. Two years post uni I was settled into my second job, had 5 figure savings to my name and options started to open up. I wanted to own a house and after spending about the next 6 months seriously looking I bought one. I ended up borrowing about 2/3 to 3/4 of what the bank was willing to lend me at the time. I could've managed repayments on the loan then, when rates peaked and now - but that would've closed doors for me which is exactly why I didn't borrow more. Likewise if I went into the bank now, they'd probably be willing to lend me double what I originally borrowed or more. Eff that.

Anyway I posted previously what I've done since (travel, work, travel, work etc.) then so I won't repeat myself there but the point is I worked to a position to give myself some options. I could've maxed myself out and bought a family home somewhere, or pumped every last cent I had into my home loan to try and be mortgage free at 35 etc. but I chose a balance. If I'm paying $200 a week on my mortgage when I'm 35 or 40 then I'll be OK, but I don't want to get to that age with a house paid off then wonder what backpacking at 25 might have been like. Is my balance right for everyone? Definitely not, but being able to have choices is very important.

I think a lot of people get sucked into the trap of money in = money out. Living within your means sounds like an old fashioned, boring way of life but it opens a lot of doors. To put it into perspective, if you work for 40 weeks and spend 40 weeks wages in that time then at the start of week 41 you need to work. If you work for 40 weeks and spend 35 weeks wages, then at the start of week 41 you're 5 weeks in credit. Time is money, people.

 

[bresker]

Wouldn't mind having all the money I spent on alcohol and drugs back again but don't care that much.

 

[Smoooothy]

if you have kids early - make sure you can afford them

(in my case, we didn't deliberately have kids early (i was 22), but it made living very very difficult for the first 2 or 3 years of my daughters life)

 

[Scotland]

I would say if you have kids at any age make sure you can afford them and be prepared to make the sacrifices required in raising them.

 

[craigos]

Asian, African, South American and Eastern European women.

 

[Catfish Alley]

Why would you do them differently? What did you do wrong the first time around?

 

[craigos]

Why would you do them differently? What did you do wrong the first time around?

Missionary.




I was a missionary, therefore not allowed to touch. The women.