At 40 and no home

This has been done to death here, but I'll explain it one more time for others who are new to the place;

There is no income inequailty; you can pick out 20 different industries where both men and women of the same experience and quals earn exactly the same money per hour....we have women as CEO's, CFO's, PM's, top-ranked surgeons, and Judges, and Headmasters, and Professors, Chemists, Doctors....and so on and so on...

However; when the stats are trotted out about this topic; they use total dollars or averaged dollars - and we all know that many, many women choose to take jobs where they can be more flexible in hours, less paying; choosing to spend more time raising their children. Fact of life.

Many are qualified to go right to the top of their industry ladder (my wife is one - a theater nurse; she has no interest in climbing the Corporate ladder in her industry.) but choose not to......a large number of her female doctor/surgeon friends are women and work varied hours to cater to needs of kids and childcare, etc...some give up their vocation after having kids - for a few years; and then come back on a part-time basis, etc.

The result is less dollars earned in total....that measurement criteria is completely inaccurate.

That applies to all people - men and women.

I don't have a PC background - as folks here would know, and don't suffer sooks gladly ...It's a valid observation; if you are a renter, and whining about others having a house when you haven't, and then go out and spend $250 in one night on food; you deserve to be shellacked for being an idiot.

My tip for that whiner; read the "Latte Factor", and then apply it....I'll wager he won't.

 

Well it's their choice if they chose to spend on lifestyle rather than property and not take on second jobs and work on their holidays. I think experiences are more important to a young person anyway.

PS: why do you want to work so hard at your age when you have paid off your PPOR?

 

I believe the spouse plays a very important part. Real experience with my 3 brothers with their wives, and the outcome today. Then myself and my 3 sisters. We all have different spending habits and hold different values tomoney. I dare say my husband won't possess what he has today if he marries someone else. As for @Bayview, there's a strong chance your staff's wife is also a big spender. Perhaps you can tell them my grandfather's favourite saying "it's not what you earn, it's what you save"!

 

From our brief discussions it seems like he is the (self-confessed) problem there.

I've given him the "what you save" sermon.

 

My husband used to have some really bad spending habits and after some stern talks, with the "sermon", he's now quite a good role model.

It depends on what type of wife he's got, and type of relationship. Does she work, does he listen to her, family, friends. To start with, he needs to have the need. I've seen people with an attitude of anti-savings. Quite bizarre.

 

What's your employee's net wage per week?

 

Can I say that it's the amount that hits the bank after I've salary sacrificed $500/week.

That's gotta change too after 1 July when the limits have dropped by $10k/yr

 

Why discuss your personal financial business with a "distant" workmate?
Probably came across as bragging.
Marg

 

He earns $25 per hour - which is way above award for a Qualified mechanic. (I think their Award wage is something like $17.62 per hour)

Their normal work week is 38 hours (7.6 hours per day), but we are open for 9 hours per day (less 0.5 hour for unpaid lunchbreak). So, most days he would also work 0.9 hours of overtime @1.5 hours per hour.

Most weeks his take home is just under the $900 nett.

 

Just because I own my own home doesn't mean I can relax, I still have a few IP's to pay off or down.
I'm still too young to retire and I work hard now before I get to 50 because I don't know if jobs are going to be around later, I'm scared to end up some old man forced to drive a cab on a weekend or something or living hand to mouth.
Work hard now so I can take it easy later.

 

Not having a go at you but that's terrible for a qualified mechanic. That award rate is lower than a waiter.

 

Um I eat out 3-4 nights (and days) used to be all 7 I take a vacation every year or Mum and dad come once a year, we visit my brother in Perth take them for a roam abouts, go to GC or Sydney with them, or he then comes back with us to Melbourne depending on what leave we can negotiate with work.. spend on shopping, they don't need it, but we are the "host" so make sure not one penny of theirs is spent.

I feel like I live a life of abundance in that regard. And I don't earn crazy money.

BUT then I live with tenants and sacrifice there, I plan, a LOT, I enjoy making things work, I buy what I can afford comfortably in terms of investments, I plan forward on possible maintenance issues and have saved upto 6 months worth for each of my investments for peace of mind, I also invest in company shares at a 15% discount then cash that in plus tax return plus any bonus to save for the next iPs deposit and my dads been very active in my investments interms of encouragement and my PPOR had 10% deposit gifted from him, and he constantly makes me feel like no sky will fall on me.

To me it's been a combination of circumstances and active conscious effort to invest. I haven't invested to a degree that my lifestyle is severely impacted though but I have sacrificed to some level (living with and managing tenants isn't the most fun etc.)

I remember the time I didn't think I needed to buy a home, my circumstances then made me feel like it didn't matter, then a few incidents completely changed my thinking, I couldn't wait to buy a place of my own and feel more financially secure. I feel like all that keeps anyone from buying in a country like Aus where there's leverage and fair pay available, is that "feeling" or realisation that you have only your own self to rely on and you simply must get a home of your own. And once you get one and see the advantages, moving forward to an IP becomes a natural 2nd step. That's how I found my journey to be anyway.

 

You can't help people like that. All you can do is offer your advice, then it is their choice what they do.

 

Miss that bloke. Wonder how lake munmoron is going. Actually I know the prices have gone up as I watch the market there.

 

I think there was one or two things up while watching the german backpacker lad work too

 

Thats slave labour....

 

That's right I forgot about that.

 

Whilst your determination is good, I wouldn't do what you are, it's all about balance, no point working all hours to never enjoy life. You get one shot at life so make it count. Don't live like you will never die because you will die having never lived. How horrendously will your investment plan really be impacted if you take a holiday after all the years of hard work, don't make your first holiday be a forced one in a hospital.

 

the word.

 

sadly; depending on which social and professional circles you move in; this is pretty true.....

But, folks already whine and moan about the cost of car services....imagine what they would cost if the mechanics were paid at the rates that you think would be fair and reasonable......

We are going to see either a massive shortage of apprentices and/or fully qualified mechanics in the future, or a substantial jump in car repairs/services if their wage rates increase to more acceptable levels.

Realistically; who would want to sign up for that profession in this day and age?

The atrician rate is alarming; as blokes come to the realisation that they can earn more per hour for simply doing stuff like cleaning houses....and not have to put up with customers with unrealistic expectations, "ever since" issues and general work conditions of dirt etc.