please evaluate my life plan:

[jason6633]

Just realized you will likely come back with "thats crap, blah , blah, blah". Perhaps another question is in order then, given a lifetime guaranteed income and financial independence would you choose to do nothing or...

IMO most would choose the or...open a golf course, a bar, a travel company, etc, etc.

[Jeffmet3]

[ QUOTE ]
Just realized you will likely come back with "thats crap, blah , blah, blah". Perhaps another question is in order then, given a lifetime guaranteed income and financial independence would you choose to do nothing or...

IMO most would choose the or...open a golf course, a bar, a travel company, etc, etc.

[/ QUOTE ]

yes, but that's not realistic. i don't see how you can fault someone for taking the safe, smart, road travelled. he's taking this job to allow himself to enjoy life outside of his job.

and most entrepreneurs fail by the way.

[Alex-db]

If you have a deposit of 25%+, you will be able to get a mortgage of pretty much any amount.

The salary multiplier is only really for people requiring 85%-110% LTV.

[philnewall]

[ QUOTE ]
use the other 80% to invest in very safe long term investments that get back 10-12% (they are out there for 6 figure + investers)

[/ QUOTE ]

Like what?

[john kane]

not sure how best to reply, so ill reply to each poster.

kimchi; it's not a worry as such, right now im very comfortable. in fact more comfortable than i could pretty much ever have hoped for. i should be in $20-25K of debt, instead playing a card game has massively reversed this. i genuinely am very happy with how fortunate ive been. however, obviously its not a vast amount, i would say my aim for x amount is more a desire, an ambition, a target/challenge, rather than a worry or a stress.

Mhoydilla; i could survive of this amount for a while, but not live a lifestyle to meet my wants, part of me would rather not have this mindset, but part of me loves the challenge.

jason; whilst this does sound very appealing, i am too risk averse to undertake it. i would spend my time worrying about whether my project would succeed and whether i had make the right decision to do this. not only does the accountancy route, albeit very dull, mean hopefully down the line i have some decent finances, but it means right now i am not concerned, becuase i know for a fact if i work hard, i will do well. as for the post about doing nothing vs opening a golf course, that would be great, something maybe ill be fortunate enough to do in my late 30s and 40s, but it's something that requires enough money that if it fails i am not crying myself to sleep.

jeffmet; thanks for making me feel im not completely mad for doing this. maybe its partly becuase 90% of my school and uni friends are also going for the safe, secure option that it feels right.

alex; tbh i havent looked much into mortgages, i just know from what ive read in uk money sections in the times how you can borrow up to usually 4.25 times your salary.

mhoydilla; this morning i followed your post a bit and went on experian.com to find out my credit rating. as ive paid everything on time there werent any sore points, although i didnt pay to see what my rating was, ill probably do that.

t50; i agree that my expenses are likely understated by a fair bit, but salary is definitely correct, it's the same as my brother's salary post qualification, although he didnt train with a big 4 and is now in industry rather than a bank, so im certain the salary is pretty corret.

also there is nothing unrealistic in living in a $1.2m condo on $80k posttax. given every spare hour i can make $150 minimum through poker (even 8-12 tabling at stakes which will never become that tough), even if i average say 8 hours a week (2 nights of 4 hours, pretty sure that is doable), thats already $345K in 6 years, on top of $220K i should have before i start a job, on top of about $500K salary pretax in 6 years, so say about $350K, thats a total of $900K. subtract 6 years of expensives, add a $400k mortgage, and i think its pretty ambitious, but not unrealistic.

and yep throughout this thread ive just done it on $2:£1

phine; indeed id be interested in such investments.


thanks everyone for replying so far, really does help.

[ilikeaces86_]

I just looked into my crystal ball and YES this is your perfect life plan.

[Jeffmet3]

you're not crazy.

2p2 is just an absolutely terrible representation of the real world, and many people seem to think that what works best for them, as well as their values and goals, is best for others.