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Payroll pays a fortune I want to get payroll experience ?


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Then go ahead and get a payroll clerk job making what you do in retail. It pays about the same as a customer service/retail clerk in the mall. Personally i'd rather have the retail job that has a lot of interaction with people, because to me numbers are boring and people are not, but if you hate being around people then payroll might be your answer. If you are horrible with people then sitting in front of a calculator and computer might be your ticket.

 

I want to do payroll because it is office experience and I can use it to relate my experience to other jobs I might apply for. The rate of pay will also go up with experience, unlike retail that stays the same forever.

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You're not including taxes, CPI or taxes paid on interest income and the value of forgone investments. I wouldn't get 10% real return. Even so the best outcome $244,000 isn't even enough to buy a house.

 

Like I said, we're playing with pocket change, you NEED 100k, the surplus income does wonders.

 

I used to think like that but the way asset prices are going up considering I'm not already in the market I've missed the boat entirely.

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You're not including taxes, CPI or taxes paid on interest income and the value of forgone investments. I wouldn't get 10% real return. Even so the best outcome $244,000 isn't even enough to buy a house.

 

Like I said, we're playing with pocket change, you NEED 100k, the surplus income does wonders.

 

I used to think like that but the way asset prices are going up considering I'm not already in the market I've missed the boat entirely.

 

Yeah, it was a simplistic calculation. I was just trying to make the point that it's good to start investing early because (and this is my opinion) the way to make your money grow is to keep it in investments for the long term.

 

I totally agree that having surplus income does wonders. The old saying, "you need money to make money" really is true. But a 10% return on $100K or a 10% return on $100, is still a 10% return. When it comes to investing I really think you need to pay attention to the pocket change, every little bit helps. And even though $200K won't get you a house, it will get you closer. And seriously, it's $200K, do you know how many beers you can buy with that?

 

I also think it is a mistake to try and time the markets. That's okay for traders to do, but not long term investors.

 

Regardless of how you invest though, your plan of getting an engineering degree is solid. Senior engineers can break the 100K salary range, at least in Canada and the U.S..

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SORRY: forgot to mention I'm Australian.

 

Its a possibility, but I really feel that with the cost of living the old tactics don't work. We're spending most of money just to feed, house ourselves and get to work.

 

Throw kids and a mortgage into the equation and you can just forget about saving money and investing without a semi professional job. I watched my parents go through life, basically all they've been able to do is semi pay off a mortgage.

 

The government is very good, they provide you a good starting salary (after one year) of ~57k plus 15% super for their Graduate programs, and most of the low level positions pay in that range too. With that sort of money and the super (similar to 401k) on top, you can start to save.

 

I'd end up culling my earnings down to about $35,000 (after tax) and saving $10,000 per year, while having 8.5 grand going into super every year. If I got married and kept $35,000 after tax and my wife did the same I'd be able afford to buy a house and still save for retirement. That little extra bit of money makes such a big difference. Even if I don't get what I want until I am 30, 20 years of that would still put me in a good financial position. (I'd actually salary sacrifice an additional 5% so it'd be more like $32,000 take home). If you do that math, you can see the enormous difference this apparently small rise in salary makes.

 

That is even assuming the salary doesn't go up a great deal. The downside is that in the government you're not going to ever see the high salaries you do in private industries but I don't think that is going to be a consideration for me.

 

Hence my mind being in limbo, should I just finish a degree with a flimsy major and bet on getting a government job. I think these days you don't need a stellar income but you need to find a way to have some sort of surplus that can be put into savings or investments. Earning $40,000 just isn't going to work, the 'over heads' and far too high I'd never get anywhere it'd basically be pay check to paycheck. I know I've got a lot of work to do but I really don't believe my position right now is in any way equitable. I'm going to trust my own judgment because usually I am right.

 

The other problem is that $200,000 20 years from now isn't going to be very much. You really need to take into account inflation and CPI increases.

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If $200,000 is pocket change to you, then you need to get into either selling drugs or pimpin', my friend.

 

Its a lot of money to me for sure but that doesn't mean it is to everyone else.

 

200 grand will get you a business that probably won't even make you two grand a week

 

it'll get you half a house.... or an income of about 300 per week.

 

twenty years of working and thats the best I could hope for ?

 

sure its a lot of money to a pleb worker like myself, but to an engineer with 15 years experience (they'll be on 150k plus) or a business owner, its not much. Just because I am poor doesn't lower the standard of money... if that makes sense.

 

PS: Pimping would be a dream job.

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CP you need to realize that there is not such job combination that asks folowing things at once:

- non extensive education such as uni

- good payroll

- not working hard

- not manual labor

- job that is clean and in air conditioned room

- having nice 8 hours work day or even less

- short time of mastering it

- gives you an opportunity to be left alone and not bothered by other people.

 

So you'll have to make a list of what you value the most and than erase things that don't fit in the equation.

Or you'll end up running in circles unable to decide which kind of education/career to pursue.

You need to make some sort of compromise to change the course your career is having.

You can't have it all at once.

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You're very argumentative. Have you ever thought about becoming a lawyer?

 

I'm guessing that was rhetorical, but anyway law is very competitive and is an image driven industry.

 

Even if I did succeed which would be rare, given the fact I'd be older than most others and have poor track record I'd be writing letters and doing clerical work for a very long time. I lack the personality and marketability to climb the legal ladder.

 

In short fugglies can't become lawyers. I walked around the law buildings at my University and the area was full of stunning chicks.

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Hence my mind being in limbo, should I just finish a degree with a flimsy major and bet on getting a government job. I think these days you don't need a stellar income but you need to find a way to have some sort of surplus that can be put into savings or investments. Earning $40,000 just isn't going to work, the 'over heads' and far too high I'd never get anywhere it'd basically be pay check to paycheck. I know I've got a lot of work to do but I really don't believe my position right now is in any way equitable. I'm going to trust my own judgment because usually I am right.

 

Is your judgment telling you to go the engineering route? That's the way I'd go, but I have a bit of a bias towards more education. Governments hire engineers as well, so maybe you can have the best of both worlds.

 

Its a lot of money to me for sure but that doesn't mean it is to everyone else.

 

200 grand will get you a business that probably won't even make you two grand a week

 

it'll get you half a house.... or an income of about 300 per week.

 

twenty years of working and thats the best I could hope for ?

 

sure its a lot of money to a pleb worker like myself, but to an engineer with 15 years experience (they'll be on 150k plus) or a business owner, its not much. Just because I am poor doesn't lower the standard of money... if that makes sense.

 

You know what your financial goals are and it's obvious you've thought a lot about how to get there, so you just need to implement your master plan. I would just avoid playing the comparison game, because there will always be people that make/have more than you. It will only lead to stress.

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