People who earn a big salary (over $150k), what do you do?
#61
I make around 150K Canadian which is down to less than 120K USD, it used to be great ten years ago when the dollars were equal. I do blue collar work, mostly in oil and gas but this week I’m sweating my bag off in a pulp mill.

In the US/Canada it’s pretty easy to become a welder/pipefitter/boilermaker and make $60-80K which you can double after you get your journeyman ticket and get into more specialized work like auditing/consulting/QA/QC
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#62
Scotian, yeah. I really have always got along well with blue collar types. Although I'd say my inclination is towards tech and finance. Even in the warehouses there is a nice feeling about working with you hands.

Deep down I know that trading time for money is a poor man's game.
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#63
(08-19-2020, 07:53 PM)AmericanAnon Wrote: Specifically can anyone speak on the type of businesses these rich anons start.....I have no idea what route to go down. Again, have thought about E-com......also what is starting capital for these guys? Are they taking out loans....I know interest rates are nice. Appreciate any feedback.

The business you choose is not important.  What's important is that you have 110% laser focus.  You also need to enjoy it and be passionate about it.  If you aren't passionate about something 110% laser focus is impossible.  You have finance experience so you're already lightyears ahead other businesses since you will know your numbers.  The biggest roadblock for a successful business is using the search for the perfect idea as a method of procrastination.
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#64
I'm making 150,000 a month... pesos lol
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#65
(08-19-2020, 08:44 PM)AmericanAnon Wrote: Scotian, yeah. I really have always got along well with blue collar types. Although I'd say my inclination is towards tech and finance. Even in the warehouses there is a nice feeling about working with you hands.

Deep down I know that trading time for money is a poor man's game.

How so? I trade my time for money and I’m not poor, I live pretty well. My current manager is retiring next month at 61 with $1.2 million in his union pension, a house worth $500K that’s paid off and a few hundred thousand dollars in other investments. All he did was work like I do for 35 years and he was saying that guys like me have it good because back in the 80s their pension was $0.50/hour, now it’s $6.50. 

I remember guys on RVF saying that unless you’re self employed, you’re a cuck wage slave, that’s bullshit. I’ve been punching a clock for 14 years and plan on doing so for another 20 years or so with my blue collar union bros and don’t really have to worry about much. Of course I will continue saving and investing but for any young guys out there reading this, there’s nothing wrong with working a stable job with a solid pension.
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#66
(08-20-2020, 06:53 AM)Scotian Wrote: I remember guys on RVF saying that unless you’re self employed, you’re a cuck wage slave, that’s bullshit. I’ve been punching a clock for 14 years and plan on doing so for another 20 years or so with my blue collar union bros and don’t really have to worry about much. Of course I will continue saving and investing but for any young guys out there reading this, there’s nothing wrong with working a stable job with a solid pension.

I'm with you on that.  Nothing wrong with owning a company and calling all of the shots, but there are some major headaches included that a lot of people conveniently don't mention.  What most fail to understand is that it is entirely possible to have a setup working for "the man" where you never even see your boss for the most part and pretty much run your own show at work.  If you can find something like this making decent bank and you're not married to it (i.e. you can turn off your phone when you go home), then you have the best of both worlds.
"I'm not worried if they get pregnant. That is what they are made for. They will figure it out."

-Mister Happy
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#67
(08-20-2020, 06:53 AM)Scotian Wrote: I remember guys on RVF saying that unless you’re self employed, you’re a cuck wage slave, that’s bullshit.

[Image: Everybody-works-for-somebody.jpg]
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#68
(08-20-2020, 02:10 PM)Suits Wrote:
(08-20-2020, 06:53 AM)Scotian Wrote: I remember guys on RVF saying that unless you’re self employed, you’re a cuck wage slave, that’s bullshit.

Or as Marilyn Manson put it: "everybody's someone else's nigger / I know you are, so am I"

Don't know how he got away with that in 1996. Different times
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#69
(08-20-2020, 06:53 AM)Scotian Wrote: I remember guys on RVF saying that unless you’re self employed, you’re a cuck wage slave, that’s bullshit.

It's not just RVF, though.

I had some dude here on Swoop calling me a slave because I earn six figures doing less than 40 hours of work a week.
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#70
Well, if anyone working in finance IT, in Germany you can make a fortune, previously Switzerland from 2008 - 2013. Credit Suisse paid day rates of 1500 CHF after tax. After a full year in Zurich i moved to Germany for 4 months a year. The highest i could achieve in Germany is 800 EUR per day after tax. If you are around 41 and up consider yourself to be the target group for these lucrative jobs, your resume needs to look slick and you go through 2 rounds of interviews for every project you get hired, but once you have your foot through the door the future looks bright as they always rehire you for future projects.

After about 6 years working such jobs on and off I just had to stop it's too tiring, nowadays I'm also too busy chasing girls
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#71
Running a business you are much more of a slave. To be successful you need to work more and take on more responsibility than 99% of people with jobs.
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#72
Well most businesses are solopreneurs where they essentially just give themselves a job.

There's very little benefit to that.

The upside with a business is building an asset/brand which you can sell down the road. Much harder to do that with a 1 man show where you essentially are the brand.

Honestly if you can't afford to hire people to take care of the tedium while you focus on revenue generating activities, you don't really have a business.
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#73
(08-21-2020, 12:26 AM)Shimmy Wrote: Running a business you are much more of a slave.  To be successful you need to work more and take on more responsibility than 99% of people with jobs.

Another middle ground is working in a more "startup" environment.  Your employer has a few heavy hitter clients bringing in solid revenue, but your role really makes or breaks the ongoing & future trajectory at the firm.  That's always an interesting feeling.  HR is also less a of a problem generally as you are more in with the CEO's of the firm. If you're lucky you might not have to deal with any Karen's or Shaqueisha's whatsoever heheh.
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#74
(08-21-2020, 01:11 AM)floridaman Wrote: Well most businesses are solopreneurs where they essentially just give themselves a job.

There's very little benefit to that.

The upside with a business is building an asset/brand which you can sell down the road. Much harder to do that with a 1 man show where you essentially are the brand.

Honestly if you can't afford to hire people to take care of the tedium while you focus on revenue generating activities, you don't really have a business.

This is the RIGHT MOVE and the move I am planning hard on soon. At first the one man show is fine but you HAVE to build.
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#75
(08-06-2020, 09:30 PM)Smoothovich Wrote: Title.

Also, do you enjoy your job and general lifestyle? Is the money worth the sacrifices? Is there anything you would rather be doing?

I'm not going to get into the specifics of what I do (there aren't that many of us), but I can speak to the general lifestyle.

Advantages
  • It's really nice to have a significant stack of cash coming in each month. (Of course, this only counts if you haven't engaged in lifestyle inflation. Some people earn 6 figures, but every single dollar is earmarked for rent/mortgage, car payments, credit card payments, satellite subscription, oversized wireless plan, etc.) If you're living well within your means, you've got the ability to immediately solve most stuff that pops up, like a $4000 car repair, an emergency root canal and crown for $2500, etc, all without needing to dip into savings.
  • Provided that you aren't taking things to excess, you're able to enjoy a lot of nice things without needing to worry about coming up short at the end of the month. You can eat out whenever you want, if you want to take advantage of a good deal to fly somewhere for a weekend, you can without sweating it, and you can do regular shopping for things you want without worrying about going over budget.
  1. Spending $150 on fine dining meals regularly is going to add up fast, even at this income level. Sure, it won't eat a huge part of your salary, but after taxes and housing expense (plus paying down any debt you might have, especially if you're a relatively recent graduate), you're only going to have so much fun money to play with. However, $20 for a tasty meal is definitely pocket change at this level (and won't make much of a dent) and you can definitely shell out $50 for a good steak dinner here and there without it being a problem. The trick is to make it more of a weekly treat, than a daily luxury.
  2. It's easy to spend a lot more on clothes (that you may never actually wear) once you feel like you've "made-it." For example, getting into custom suiting in the North America can add up fast even if you get just a few bespoke suits. Once you start spending that type of money on clothes, it's easy to spend 10% of your annual income on threads, which isn't probably smart use of your money, especially if that isn't the only area where you're experimenting with luxury. 
  3. I'm fortunate, because here in Asia, I can get decent custom suits made for about $150 a piece (although these days, I usually just get jackets made ($100) and pair them more casual, off-the-rack pants). But even then, I space out my purchases. I only visit my tailor about once every three months on average. I've been able to develop an updated suit wardrobe without spending too much money, but if I was North America based, doing so would have cost at least 4X as much.
  • You're also in the position to either pay down debt fast or stack cash quickly. Unless you're living in NYC and $150K is barely enough to live a middle class existence, at this income level, it shouldn't be a problem to live on half your income and put the other half away. This means that every year you work, you can put away three years of living expenses somewhere especially affordable, like many parts of SEA, SA, and EE. If you're angling to get your own business started at a point or want to retire early, a six figure income in this range is your ticket there if you're willing to put some time in first.
Realities
  • You still can't constantly spend money. $150K is $12,500 before taxes and while that seems like a lot, it's not that hard to spend that much money every month. If that income is before tax, then it's not nearly as much as it seems. If your first decision after ascending to that income level is to buy the biggest house you can manage a mortgage payment for, your financial situation is going to be just as stressful as anyone else's. If you've got significant debt, that's going to take a big bite, too.
  • The money is nice while it's coming in, but if you start to enjoy it too much and then suddenly become unemployed, you're in for a world of hurt. If you're earning this type of income, then you're probably in a job with high expectations. If you disappoint, you're out. Even if it takes only two months to find a new job on a similar level, your income for the year is going to be substantially lower than your advertised annual salary.
  • If you do fuck-up and get fired, that black mark could follow you for a while. It's important to always be grateful for what you have and build a big cushion before you start spending a lot and really enjoying the money. The first thing any man who suddenly finds himself earning a big salary should do is save up a year's worth of expenses ASAP. The more you keep your lifestyle in check, the easier it is to do this.
  • Job stress is still job stress. You can tell yourself that it's worth it for the money, but dealing with office politics or an asshole boss can still be a miserable experience. I'm lucky that my job doesn't have much of this and it does happen from time to time and there are moments where I'd rather be anywhere else. Of course, pay day feels really good and kinda balances this out somewhat, provided that the working environment isn't too awful.
  • Corporate life comes with a loss of certain freedoms. The money buys you a lot of freedom when you're off the clock, but at work you still need to put up with silly HR policies, avoiding getting tripped up by office politics and sometimes pretending to be busy when you have absolutely nothing to do (probably because other people aren't doing their jobs fast enough) and you can't leave before the end of the official work day
  • If work was fun, they probably wouldn't may as much. It's more than likely that a lot of the aspects of a job, no matter what the salary, are going to be less than fun. This doesn't change no matter how much you are earning.
  • A certain salary level can create expectation to work overtime. Luckily, this isn't an issue where I work, but I know a lot of people on my income level that work 60-70 hours a week and don't have much of a life.
  • If you struggled with getting women before you made good money, you'll probably struggle with it afterwards, too. But now you have to watch out for gold diggers as well. If you have game, you were probably getting laid before you had an impressive salary (and the lifestyle/toys that potentially comes with that). 
  • It's still always a good idea to take advantage of deals for eating out. F&B can really add up if you're not careful (at any income level, actually), but when you're smart about mostly sticking to the mid-week deals that restaurants use to fill up empty seats in between weekends, you'll get a lot more bang for your buck. Why pay $30 for a meal if you can get the same thing for $15 if you show up on Wednesday night between 5 and 7 pm?
  • You can afford to drink good quality alcohol at this point, but that can be a real problem for staying healthy and in good shape. Being able to afford dinner and drinks every night at a nice restaurant is going to make it much easy to start packing on some weight.
  • Money may make some things easier, but most things remain the same. Social skills are still important. Traffic still sucks whether you're in a 20 year old Cavalier or driving a Maserati. The best indoor bouldering gyms in town are usually something people in a middle class situation can afford, so if that's a hobby, you're still going to have to put in the same work an unemployed teenager does to get to the level where you can start climbing V4s. I mention this, because the climbing gym I go to always has luxury vehicles in the parking lot and they're parked right next to $20 bicycles. Once you're inside, no one gives a damn how much anyone earns. All that matters is who is grinding the hardest on the wall.
Ultimately, making more money is great, but you still need to be smart about how you manage your money and don't let it slow down your development in other key areas where money doesn't give you any advantage. And don't let it turn you into a smug asshole. The best gift money can give you is a sense of grateful for everything that you have.
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#76
Early in my corporate career, a boss of mine told me something like this:

"The size of your paycheck here generally increases with the size of your headaches."
If you haven't met anyone, I'll assume you're lying (h/t to Teedub from the old forum)
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#77
International development work pays well. Everything from engineering to agriculture to public health to law to supply chain to municipal finance.

I think top USAID daily rate is above $700 now. Uplifts for hardship and danger. Europeans pay similarly

devex.com and reliefweb.int have a good selection
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#78
(08-20-2020, 02:35 PM)Suits Wrote: It's not just RVF, though.

I had some dude here on Swoop calling me a slave because I earn six figures doing less than 40 hours of work a week.

Probably not unlike all the people I warned against investing everything in rental properties in their own town due to diversification risk, who thought the stock market was "a fucking roulette wheel" and now can't believe they can't evict anyone and that their target neighborhood is emptying out at warp speed.

Being your own boss can be great. Regular employment can be great. Both can also suck. Have been on all four corners of that square.
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#79
(08-21-2020, 12:26 AM)Shimmy Wrote: Running a business you are much more of a slave. To be successful you need to work more and take on more responsibility than 99% of people with jobs.

In the early stages this is often true. But the long term goal should always be delegation and the freeing up of your time and daily responsibilities.

In response to the thread question, I have several businesses that have steadily grown over the past 2-9 years (depending on when they were founded).

On paper I should have no free time. But in actuality I can do nothing and not even think about work most days.

Easier said than done of course. Particularly finding managers who you can trust.
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#80
The biggest mistake that people can make after they decide to start a business is not thinking big enough.

Fuck all this £/$100/150/200k and I've made it shit.

Seriously.

Think bigger!
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