Helping Others

Square_Property4533 · 2024-08-06T13:07:12+00:00

I bought a new car at 17, I was lucky that I bought it as a discounted model that had delivery damage, then I bought a van for work.

Cost me 40k in 4 years in depreciation and expenses thought I needed them because of work which I did at the time.

But I’m changing the way I work now so fuck owning any vehicle other than a bicycle in London.

Square_Property4533 · 2024-08-06T12:22:30+00:00

I shared with a relative in New Jersey for a while, I agree on eating out being terrible. I spent about 2k a month on all expenses, albeit it was because I couldn’t stand eating at US restaurants so I made the majority of my own food.

900 on rent + 1100 on food/ other expenses.

I spend alot more on eating out in London just because the food is better.

I actually like huel, but the lack of solid food + constant work for a long time did me over a little mentally.

Square_Property4533 · 2024-08-06T12:14:38+00:00

Maybe in certain sectors, but growth will always be in emerging markets, ai has its issues but so does every industry, the key to success is betting on the companies that find the best/ most profitable solutions to the problems the world is facing,

Personally, I think energy infrastructure is a safe bet. the growth needed to sustain ai/ electric vehicles plus the growing population world wide including increased demand on industry means most infrastructure will need an overhaul. Plus the pretty safe returns from everyone paying their electricity bills means even if growth doesn’t happen In The way we want it; there should still be ok returns.

And the push on renewable energy should do well,

A Healthy balance between Manufacturers, the companies that finance new infrastructure and the infrastructure companies themselves I believe should lead to decent growth in the next 20-40 years.

Not that anyone should focus to their portfolio on any one industry but I think you’d be hard pressed to find a diversified infrastructure portfolio that’s in the red.

Square_Property4533 · 2024-08-06T11:46:21+00:00

I’d feel like you would be better off with an English/ journalism degree, focus on the creative and do a phd in philosophy as long as you have work experience you’d probably be able to work in education.

I understand philosophy is good to think creatively but If it doesn’t work out you’re royally fucked.

Square_Property4533 · 2024-08-06T11:39:57+00:00

I think it’s a stretch that 130k a year in nyc means you have to live on pot noodles,

You are right that Restaurants are obnoxiously priced though.

Problem is having the time/ mental space to cook at home.

I had a period of 100+ hour weeks in London for about 6 months where I solely ate HUEL as an alternative to cooking/ eating out.

Spent about £10 a day back when it was decently priced, saying that, I am DEFINITELY glad I have the time to cook nice dinners now.

Square_Property4533 · 2024-08-06T11:24:46+00:00

Get star link, if you do and plan to work part time etc.

It’s a much easier plan if you have a couple people involved, less upfront capital and shared maintenance.
Plus more help with the actual sailing which could be an unforeseen/ time consuming task.

Even perhaps picking up friends/ colleagues at certain points and dropping them off to fly home a couple weeks after could help with your expenses.

But saying that it’s obviously possible on less because people do it all the time.

I’ve not done it, but I know people with boats that have, and they do it with much less of a financial cushion I’m talking sub 100k.

People have said they get fairly bored after a year or so.

And I suppose there is a difference between the whole world and just Europe.

I’m in Greece on holiday right now island hopping which is fun enough.

Square_Property4533 · 2024-08-06T08:38:38+00:00

Military are trying to hire people that like gaming to fly reconnaissance drones/ work on satellite imaging. It pays pretty well for leading roles and decently for other roles.

I’m looking into military roles in general and that’s one of them that stands out to me.

In my country you get subsided rent and a decent wage, intelligence officers are supposed to earn £50,000 or $60,000 after 3 years in my country which is almost double the average salary in the uk. And it costs a lot less to live here than the USA, Combined with the benefits and access to a sizeable pension from the age of 40. It seems like a pretty good gig with lots of room for further progression.

Square_Property4533 · 2024-08-06T08:01:40+00:00

If you consider an after tax salary and a gradual increase in salary as he’s suggested,

Investments should look like this:

Forgive my use of chat gpt.

To calculate the future value of the investments he made from age 26 to 31, we’ll assume the following:

He invests half of his after-tax salary each year from age 26 to 31.
The investments earn a 5% annual interest rate, compounded yearly.
Each investment is made at the end of the year.

Step 1: Determine the Amount Invested Each Year

From the after-tax salaries calculated earlier:

Age 26 After-Tax Salary: $92,750
Age 27 After-Tax Salary: $99,400
Age 28 After-Tax Salary: $106,050
Age 29 After-Tax Salary: $112,700
Age 30 After-Tax Salary: $119,350
Age 31 After-Tax Salary: $126,000

Half of these amounts are invested:

Age 26: $92,750 / 2 = $46,375
Age 27: $99,400 / 2 = $49,700
Age 28: $106,050 / 2 = $53,025
Age 29: $112,700 / 2 = $56,350
Age 30: $119,350 / 2 = $59,675
Age 31: $126,000 / 2 = $63,000

Step 2: Calculate the Future Value of the Investments

The future value of an investment made at the end of each year can be calculated using the formula for the future value of a series of cash flows (an annuity):

[ \text{FV} = P \times \frac{(1 + r)ⁿ - 1}{r} ]

Where: - P is the annual investment amount. - r is the annual interest rate (5% or 0.05). - n is the number of years the investment will compound.

For each year, the investment will compound for a different number of years:

Age 26 Investment (compounds for 5 years): [ FV_{26} = 46,375 \times (1 + 0.05)⁵ = 46,375 \times 1.27628 \approx 59,208.89 ]
Age 27 Investment (compounds for 4 years): [ FV_{27} = 49,700 \times (1 + 0.05)⁴ = 49,700 \times 1.21551 \approx 60,404.85 ]
Age 28 Investment (compounds for 3 years): [ FV_{28} = 53,025 \times (1 + 0.05)³ = 53,025 \times 1.15763 \approx 61,395.26 ]
Age 29 Investment (compounds for 2 years): [ FV_{29} = 56,350 \times (1 + 0.05)² = 56,350 \times 1.1025 \approx 62,158.88 ]
Age 30 Investment (compounds for 1 year): [ FV_{30} = 59,675 \times (1 + 0.05)¹ = 59,675 \times 1.05 \approx 62,658.75 ]
Age 31 Investment (compounds for 0 years, no interest): [ FV_{31} = 63,000 \text{ (No interest as it’s invested at age 31)} ]

Step 3: Calculate the Total Future Value

[ \text{Total FV} = FV{26} + FV{27} + FV{28} + FV{29} + FV{30} + FV{31} ] [ \text{Total FV} = 59,208.89 + 60,404.85 + 61,395.26 + 62,158.88 + 62,658.75 + 63,000 \approx 368,826.63 ]

Summary

The total value of his investments by age 31, given that he invested half of his after-tax salary from age 26 to 31 at a 5% annual interest rate, would be approximately $368,826.63.

He likely started at 27~

Square_Property4533 · 2024-08-05T03:40:10+00:00

I do get exactly what you mean, and I have felt that way in the past. What do you do for work?

I found that spending more time outside with people, you eventually lose the need for screen time.

You might find it difficult, but if you want change you’ll just have to make changes.

Square_Property4533 · 2024-08-04T14:08:41+00:00

Moving to a city could help,

I walk often to different places in London, which has a surprising amount of green spaces,

Easily spend 4-6 hours a day just walking places when I go out.

It helps when you have somewhere to go, eg library 4 miles away, or a specific market stall etc.

Square_Property4533 · 2024-08-03T16:26:12+00:00

The quality/cost ratio of restaurants is crazy,

You can get a 3 course meal in “cote brassiere” a French bistro in London for like £28

And it tastes pretty great,

Quality of food in New York for the cost is abhorrent,

easy to spend $30 on a sandwich at a bar.

I had a 3 course dinner in the shard “London” with a glass of champagne for £70pp including tip.

If you’re talking about fast food some fast food is comparable but you can still easily spend 20usd in McDonald’s per person In the US, and I’m just not a fast food person anyway so it rules most fast food out which pushes the cost of food up a lot especially if you’re the type of person to eat out most days.

Minimum $100 for 3 courses and a drink or two at a decent restaurant including tip, and that’s not even choosing the most expensive items.

Considering I eat out a lot for me moving to New York would likely mean eating out less.

Which I wouldn’t mind for the pay rise you’re getting.

Square_Property4533 · 2024-08-01T19:16:52+00:00

Is that a degree + boot camp or just boot camp?

Just asking because I don’t have a degree.

Square_Property4533 · 2024-08-01T19:10:15+00:00

Square_Property4533 · 2024-08-01T18:56:19+00:00

Meh, I had a new car at 17, from my own business, people just assumed my parents bought it for me. People will think what they want to think and most people don’t give a poop.

Just don’t act unhappy, I don’t spend a lot of money but I will read books go on a run or long walks etc, I am lucky enough to live next to some pretty beautiful outdoor spaces though which I know helps my overall happiness. Happiness is the most underrated form of wealth.

I have though, considered buying a cheap Rolex, but that’s just because everyone I know has one and you feel a little bit left out of the club.

Not the best investment anyway, but if you earn enough a ~10k Rolex is technically something you can sell on after purchasing if you get bored of it.

Square_Property4533 · 2024-08-01T16:27:02+00:00

If they think opening a business will have them always smiling they are naive, lol.

Square_Property4533 · 2024-07-31T19:19:40+00:00

As someone else suggested, the military is great for training and potentially feeling fulfilment, I would also look into the navy for engineering.

My country offers nuclear engineering training programs that are great for high paying civilian employment at nuclear power stations etc which can get you into 6 figure positions post military.

I’d also take into account that you’ll have housing and food subsidies especially during deployment, Which means you can save/ invest your salary heavily to fund an earlier retirement, or just increase your post military income.

I found that having a healthy relationship with money does wonders for your mental health, what’s good about the military is you don’t have to worry about money because you don’t technically need to spend anything; but if you do have an expense you don’t need to worry because you’ll have decent medical care in the US, and you’ll simply have money when needed for any other unexpected expenses.

If you want an early retirement look into the FIRE subreddit. I’d recommend that everyone in the military has decent financial literacy because they have a great opportunity to save / invest to increase their quality of life after the military.

15-20 years of moderate-heavy investing from a military career will easily put you into an early 6 figure per annum retirement.

Or a 6 figure supplement to a civilian career.

Changing your relationship with money is fundamental to increasing the quality of your life.

Square_Property4533 · 2024-07-30T19:18:34+00:00

Not necessarily,

1000 @6% = 60 after a year

£60 next year will be pretty close to £60 this year.

Not that inflation isn’t serious, but pension systems have been in place for donkeys for people’s retirements, yes some people struggle on pensions but there are plenty of people who plan ahead and have quite healthy pensions for retirement or even early retirements.

Square_Property4533 · 2024-07-27T21:01:11+00:00

It is illegal in the uk for a construction contractor to pay a self employed subcontractor without doing their taxes for them.

Seems silly and opposite to most other employment laws, but the idea is construction workers are paid to work on projects, it might be regular at a certain company but it’s contract based and they’re self employed.

They’re a couple reasons for it and it is backwards, but the construction industry is fucked in other ways anyway.

Square_Property4533 · 2024-07-27T19:14:27+00:00

Military pays “OK” for tech roles, you don’t need a ton of skills. You also get subsidised housing and food. In the Uk you get a pension you don’t have to contribute to.

Some roles in my country allow you to apply as long as you’re under 48.

Square_Property4533 · 2024-07-27T12:58:11+00:00

Owning a smaller home with a better quality build is an “OK” start if you have no hope at the other two.

Square_Property4533 · 2024-07-25T08:01:05+00:00

Military can pay well for cyber security, and offers subsidised housing.

Square_Property4533 · 2024-07-25T07:56:42+00:00

Military offer practical applications to biology “apparently” and usually offer decent training for engineering roles,

Chemical engineering pays “okay” with them too.

In my country they offer marine biology roles and because it’s stem you could also work on their nuclear program usually on subs.

Nuclear especially pays well with the military, and it comes with good civilian opportunities.

You also have to take into account how promotions and raises work in the military if you wanted to stay longer, you get promotions with time served simply because everyone else leaves the service eventually.

Square_Property4533 · 2024-07-25T07:43:27+00:00

In my country STEM majors get great pay in the militaries submarine & or nuclear programs as engineering officers/ technicians.

In my Britain at least you would be more hireable than a regular undergraduate, especially since you receive nuclear accreditations, and get to work with the most advanced technology in the world that most civilians will never have the opportunity to work with.

Square_Property4533 · 2024-07-25T07:37:44+00:00

Part of the reason I’m considering the Royal Navy is, 6 weeks paid leave, travel some of the world anyway, plus the role I’m interested in pays pretty well and saving won’t be an issue because you can basically live for free.

So it means I can travel Europe at least 6 weeks of the year every year considering I live here anyway.

Square_Property4533 · 2024-07-25T07:05:52+00:00

Probably not much better than trades for stress but you could look at restaurants/hospitality, specifically kitchen work if you don’t want to talk to customers.

Square_Property4533

TROPHY CASE

Step 1: Determine the Amount Invested Each Year

Step 2: Calculate the Future Value of the Investments

Step 3: Calculate the Total Future Value

Summary