pvr said:
Bank of Mum & Dad?
Gross Salary
- Thread starter Taz
- Start date
Bank of Mum & Dad?
I have retired 3 times so far but always drawn back to work. So included pensions and current salary.
Be interesting to see how high it would go if we included spouse/partner's salary. Always said I would retire properly when my wife earned more than me. Passed that milestone several years ago, but I still get up early and drive 56 miles to work every day. God I must enjoy it.
Be interesting to see how high it would go if we included spouse/partner's salary. Always said I would retire properly when my wife earned more than me. Passed that milestone several years ago, but I still get up early and drive 56 miles to work every day. God I must enjoy it.
Taz x said:
Agreed. That's how my wife and I came to be in Europe. I was laid off due to the company I was with going bankrupt. No one was interested in a 52 year old new hire. Had we went into debt to buy cars, boats and watches beyond our means. We would have been another victim of the burst housing bubble. Instead we used it as an opportunity. We had never been to Europe. So the wife applied for a transfer to Europe. Was accepted. We rented out our house. Packed up our pets. And off we went. No regrets at all. And as we live in Europe. We are taking care of a large portion of the usual post retirement traveling while we are still youngish and employed.
As we hadn't gone over board on toys or McMansion homes. We have been able to put enough away so that if the wife took early retirement right now at 57. Our investments and both pensions will add up to exactly the same amount of money we are making right now. That is way better than a lot of folks manage.
We have had nice but not over the top things. We managed to pay off a 30 year mortgage on our first home in 18 years by making extra payments. Then sold it for double what we paid. Rather than buying a boat, Porsche or some such foolish thing. We paid off most (but not all) of our debts and put a large 40% deposit on our current home. This is what I think about when I get a little jealous after I hear people talking about their collection of watches. Or yet another new high zoot car. I sometimes think. Maybe I should splurge on that 911. I deserve it. But I stop and think. How can they afford all those things. Truth is. Most can't. They just take a loan on their home equity and go deeper in debt.
For the young just getting started folks here. Let this be a lesson. If don't live beyond your means in the good times. You will have far more options should the bad times come calling.
Whats the comfortable number though? I think its dependent on several things like location, family, habits, etc
Turning into an interesting thread this.
Anyway...
That's exactly what I've done recently... I can genuinely say the day I left my previous job was the best feeling I've ever had, it was like I was finally taking control of what I wanted to do, weight lifted off my shoulders.
Fair point, but then as this thread is highlighting in reality it's all about the outgoings (living circumstances) and resulting disposable income.
Anyway...
Taz x said:
That's exactly what I've done recently... I can genuinely say the day I left my previous job was the best feeling I've ever had, it was like I was finally taking control of what I wanted to do, weight lifted off my shoulders.
pvr said:
Fair point, but then as this thread is highlighting in reality it's all about the outgoings (living circumstances) and resulting disposable income.
I work as little as possible really....... Im not "that" bothered about having pots of money as long as we have enough. i prefer to potter about the house and walk the dog about..
Probably work around 32 hours a week if i totted up,and the missus works 14..
We have still managed to pay off the mortgage,run the Z4M and another car... Had M3's,911's amongst other stuff and we dont earn big bucks,far from it.
I think its how you make your money stretch more than anything else...
Probably work around 32 hours a week if i totted up,and the missus works 14..
We have still managed to pay off the mortgage,run the Z4M and another car... Had M3's,911's amongst other stuff and we dont earn big bucks,far from it.
I think its how you make your money stretch more than anything else...
Bing said:
I'd say they should be included. My variable package can accelerate my income up to 4.25x base
.75 is a decelerator? Or is that 1.75 total?
Edit - ours is quarterly, and I've only done that level of accelerator twice in 5yrs
Edit - ours is quarterly, and I've only done that level of accelerator twice in 5yrs
I used to work for Bull (French IT company) and they had a scheme that you started earning 75% of bonus at 75% of target rising to 100 at 100. Once you'd done 100 each point was doubled, so at 150% of target you got 200% of bonus. Sandbagging was epic!
we,re a pretty affluent forum & above the national average 
My OTB is 50% of my salary. Similar to above - below 75% target you get peanuts, then payment is decelerated 0.8x until you hit 100%, after that you earn 2% for every 1% over 100%... As long as you hit 100% revenue and order value targets. Nowadays they tend to cap at 150%...
