What do you do for a job and does that relate to your interest in investing?

Discussion in 'Share Investing Strategies, Theories & Education' started by Isla_Nublar, 11th Sep, 2019.

Join Australia's most dynamic and respected property investment community
  1. Isla_Nublar

    Isla_Nublar Active Member

    Joined:
    10th Jul, 2019
    Posts:
    33
    Location:
    Sydney
    {Note from mods - this thread split from here: Listed Investment Companies (LICs) 2019 [LIC & LIT]}



    Out of interest, what did / does everyone do for a job? We all clearly have an interest in investing, but I wonder for how many of us did that interest stem from our jobs / is related to our jobs? To start the conversation, I have 3 degrees/diploma including a general business degree and a law degree and my first exposure to investing was the ASX stock market game back in high school in 2002 or so. I remember in 2005, while studying at uni, I spent a Saturday night calculating (with paper and pen!!) how much compound interest I could earn on my savings by the time I finished my degree. Ever since, I've been frugal and always spent less than I earned, as I knew the potential for what I could achieve.
     
    Last edited by a moderator: 12th Sep, 2019
    paulF, Morgs, Anne11 and 2 others like this.
  2. Niche

    Niche Active Member

    Joined:
    6th Jun, 2019
    Posts:
    28
    Location:
    Jesmond
    I am very interested to see people's responses to this. I completed a maths degree and similarly played around with numbers to see the effects of compound interest which still blows my mind. From this I now have a job at a Financial Institution as a Data Analyst which certainly has fascinating aspects however I am considering looking for another job that is more focused in an investment based company as more interests have definitely become more investment based rather than just finances in general.
     
    paulF likes this.
  3. dunno

    dunno Well-Known Member

    Joined:
    31st Aug, 2017
    Posts:
    594
    Location:
    .
    Academic:

    Grade 10 at a low socio-economic school with woeful standards.

    Dropped out of adult entry part time accounting degree. Bored as bat **** reciting back what they wanted to hear instead of using the time to learn what I wanted to learn.

    Work:

    Pretty much a failure, from storeman to middle management in procurement (inventory control) at a multi-national. But ultimately couldn’t access the interesting work, at least in the context of being acknowledged for it as I didn’t go to the right school, have the right qualifications and didn’t play the right politics. Haven’t worked since age 29.

    So recognised qualifications and experience. BIG FAT ZERO.

    But that’s why I love the market, The meritocracy of it. Your brain is your tool. Qualifications and work politics don’t matter a dam to the market.

    My job since 29: Private investor and love it. Still dunno much and still have no qualifications.
     
  4. orangestreet

    orangestreet Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    366
    Location:
    Australia
    It took me 12 years of schooling, 3 years of undergraduate studies and 2 years of postgrad studies and nearly 3 years of working full-time to understand that it was autonomy and freedom I was after. I remember after my first day of full time work and coming home and informing that I can’t wait for retirement. Have felt it all the way through school, university and then work that it was all a terribly unfulfilling pursuit. But I never understood how to articulate my frustrations to even myself let alone have anybody tell me that there was an alternative and show me a path. I fiddled around with my super (chased every Super account I had from odd jobs, optimised insurances etc.) even contributed extra (in my 20s) but it felt like waiting till 60 (if the government did not fiddle with it) was simply not worth it.

    Like most young people, I started using the escapism of travel and consumer purchases to smother the pain of a dull and boring desk based job. My favourite websites from the late noughties was mostly travel websites and from the local restaurant scene. I even travelled a fair bit – everywhere from overseas to domestic holidays. I ate out a LOT! It was mostly enjoyable when it lasted. But taking the taxi home after holidays knowing all my leave and money was gone, coming home feeling full, bloated and feeling unfit after a meal outside all felt terribly empty and soul sucking. No matter how many trips I planned, work always won. It was like a beast, waiting for me, sneering that I had the temerity to think I could escape the 9-5 drudgery by booking yet another trip. The sea of working days kept coming at me like a conveyor belt from hell. My money and annual leave were gone well before I could enjoy the slightest bit of freedom from work. I could see nothing but a sea of working days and years ahead of me with no escape in sight.

    In hindsight, I would say that I am almost thankful for that feeling. If I was happy and more importantly, contented, I would have never ventured into FI or the RE community. Chances are I would be just another consumer office drone donating all my cash to the coffee shop downstairs, waiting for the next promotion so that I could “get ahead”.

    Then my life turned on a dime through a series of fortuitous events in 2010. I found investing and FIRE (only I did not know it was called that then). It was like meting somebody and then realising they were exactly what you were searching for all your life but you never knew existed. It gave me a path to walk on. For the first time in my life, I had purpose, meaning and direction. A bad day at work - no worries; think back to what your real goals are and I could see what a minor blip it really was. Being proficient and eager to learn in one aspect of my life (investing) had echoes in many different areas which I would have never anticipated when I first started.

    Being frugal, which is such a keystone habit made me more organised, which in turn led me to make better money choices by eating healthy and getting fit. Waking up every morning trying to get better at money/investing has had a ridiculously positive impact on my learning about finance, behavioural traits, economics, politics and everything in between which has greatly enhanced my understanding of the world we live in. It has most importantly, helped me understand myself. It has made me question aspects of my life which I had taken for granted. For example, I had almost assumed that eating out once a week or going overseas on holidays were mandatory “experiences” that one absolutely must do to have a “meaningful life”. All the rubbish I was fed by well-meaning friends about how a child needs a room decked out with matching pink wallpapers and piano lessons from when she could crawl was discarded instead for old fashioned “quantity time” by just including her in everything we do at home. The disassociation between spending money = buying happiness has been a life changing discovery and of a magnitude I don't think I have fully grasped or come to appreciate.

    Whilst life is not perfect, I am happier than I have been at any other stage of my life. Bizarrely, knowing I have maybe 2 years of full-time work and few more years of part-time work after that has made me appreciate how lucky I am to have the job I have. I have found at times, astonishingly, even liking it and deriving meaning from it. I very much look forward to the day when I am ready to RE (before 50) having enough to live off but not being able to bring myself to pull the pin. Now that would be worthy of a post in the first world problem thread.
     
    Last edited: 11th Sep, 2019
    lixas4, Greedo, Gockie and 22 others like this.
  5. PKFFW

    PKFFW Well-Known Member

    Joined:
    15th Mar, 2018
    Posts:
    161
    Location:
    NSW
    I went to Uni and got myself a Bachelor of Creative Arts majoring in Acting. Then I set out to be the next Russell Crowe earning millions per movie. Life was sweeeeet!!!!

    Then after five years of auditions, landing only one bit part and eventually working my way into a job doing permanent night shift while living and trying to sleep on the corner of a six lane major road, reality hit. So a change was needed.

    I became a fire fighter. Twenty years later I am a Senior Officer and still genuinely enjoy my job. I don't do so much of the "fun stuff" running into burning buildings and all that anymore (which is not a bad thing with my busted up knees) but I do get to manage the really big incidents which is fun and exciting in its own way.

    Thanks to my parents I've always been someone who spent less than they earned but only just. It wasn't until my mid to late 30s that I really started saving hard and learning about investing. Somewhat like @Nodrog I tried all the trading and get-rich-quick routes before settling into a more slow and steady wins the race mindset. I credit my wife for that change of mindset as she wanted to invest in property. The results from property have been ok but for a number of reasons we have now changed focus and strategy and it will eventually be 100% equities.
     
    lixas4, charttv, luckyone and 15 others like this.
  6. Snowball

    Snowball Well-Known Member

    Joined:
    28th Dec, 2016
    Posts:
    685
    Location:
    Perth
    Haha wow that’s quite interesting! A little similar to myself...

    I also dropped out of school. Worked at big w stacking shelves for 2 years (got fired). Worked in a factory for 2 years (got fired) then as a storeman for 8 years. Then quit work age 28 (chose to leave this time lol)

    Still have zero qualifications. Much more interest in freestyle learning through reading and researching things of interest, rather than traditional academic style learning.

    No tolerance for workplace politics or hero managers so perhaps not very employable.

    To answer your question @Isla_Nublar my interest in investing was related to work in a way. Because I wanted to figure out how the hell to not have to work anymore! As such I was compelled to learn about investing :D
     
    lixas4, luckyone, dunno and 11 others like this.
  7. Froxy

    Froxy Well-Known Member

    Joined:
    22nd Sep, 2018
    Posts:
    94
    Location:
    Sydney
    @PKFFW im also a firefighter but still doing the hard yards at the coalface

    Studied overseas and was always terrible with money until my late 20s and have improved dramatically but off a very low base. Became a firey 10 years ago and havent used my commerce degree at all.

    The corporate life didnt interest me. Most of my friends earn lots but hate their job but I love mine. Of course they make jokes about me lacking ambition but im happy.

    Now married with 2 kids we have an investment property and equities. Next goal is a PPOR.
     
    luckyone, dunno, sharon and 5 others like this.
  8. number 5

    number 5 Member

    Joined:
    2nd Mar, 2019
    Posts:
    13
    Location:
    Melbourne
    I’m a professional sports umpire and work part time in finance. (2-3 days a week)

    I’ve been interested in investing for a long time. Never been much of a spender and never been one to want or need a big bank balance. I started with property (2 in Adelaide) and am gradually transition to shares.

    Must admit, like @Nodrog I am addicted to accumulating already.
     
    dunno, sharon, WhatThe and 7 others like this.
  9. Ariyahn2011

    Ariyahn2011 Well-Known Member

    Joined:
    2nd May, 2016
    Posts:
    48
    Location:
    Darwin
    My father is a masters in Maths, I told him I wanted to retire when I was 30. He did the whole compound thing with me when I was 18. I remember the paper he did it on vividly. I was set on doing this.

    But it turned out like this:
    - Got a 32 Enter Score
    - Bummed around in Accounts Payable and then moved onto becoming a Trainee Accountant.
    - Threw this good opportunity away as I was preoccupied with a girl I feel in love with in India.
    - Spent thousands on her (sent money, got a tattoo with her name with massive bold letters on my back, purchased many tickets and messed up some relationships with my family in India. Fortunately this has since recovered).
    - Found out she was cheating on me with an Iranian Student in Pune, India.
    - Went through a depressive period of about 1 year playing World of Warcraft.
    - I eventually decided to go to Tafe and try my hand in a Dip in HR.
    - Again, lacked discipline, and was too busy playing A Grade Basketball, streetball and VBL.
    - Needed to sort my life out, so I decided to join the Army at 21.
    - Loved it, but drank excessively, and spent whole pay packets in weekends.
    - Got medically discharged (now lived with Chronic pain for 7 years now)
    - Had a child at 24 (just when I got med discharged.. worst timing in hindsight, but best decision ever).
    - Spent 2-3 years at St Barbara Pain Clinic
    - Tried to study a BA in Social Work (Failed), tried Financial Planning twice - Failed.
    - Eventually realised I needed to support my son and I did not want to be reliant on Department of Veteran Affairs for my financial security.
    - At 28, I went and became a Disability Support Worker, it was tough work, and unfortunately got punched in my back so called it a day.
    - Eventually got a job and worked in a call centre which I loathed but stuck with it for 2 years.
    - Graduated with a BA in Arts (International Aid and Development)
    - Throughout this journey suffered with mental health challenges given the chronic pain was lingering on for 5+ years now at the time
    - Lost $20,000 in Crypto trying to get rich to escape the rat race
    - Finally had a break down and realised I HAD to make changes.
    - Stopped picking individual stocks for the most part and accepted my limitations (as I lost a lot also in small caps).
    - Got my first professional job at 31, earning 70K a year.
    - Commenced my Masters in Social Work at 32 at Monash Uni.
    - Recently promoted to a manager (income TBC).
    - A portfolio now consisting of ETFs/LICs
    - Hopefully plan to semi retire at 43-45.

    The above is a bit rushed but gives you a sense of the MANY failures I've been through but finally making some positive changes.

    I am a bit behind my peers, and still live with chronic pain and mental health challenges, but I enjoy working to a degree, and want to be financially free in 10-15 years so when my health is struggling, I can pull out at any moment.

    They say first time an idiot, second time a fool, third time an absolute clown. I've def been an absolute clown :)...

    Cheers
     
    Last edited: 11th Sep, 2019
    MWI, mitsui, Gladys and 17 others like this.
  10. PKFFW

    PKFFW Well-Known Member

    Joined:
    15th Mar, 2018
    Posts:
    161
    Location:
    NSW
    Nice to see another firie :)

    Ambition in our job is a funny thing isn't it? Too much or too little and you're bound to be bagged out about it! Then we have the "Stripe of Shame" as if being a Senior Fire with years of experience is something to be ashamed of! What's wrong with being happy doing the job you love and not wanting to climb the ranks?
     
    Snowball, Isla_Nublar and Froxy like this.
  11. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    4,046
    Location:
    Troppo.
    That's made my day after reading That classic post,and not being one to side-track threads and coming from the same public school grade ten set-up as yourself as private schools do not guarantee they will raise above the herd as most come out dramatically harmed from the few i know for life..''Success is a state of Mind''..
     
    Isla_Nublar, number 5 and Froxy like this.
  12. Nodrog

    Nodrog Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    8,017
    Location:
    Me Me Me
    I was a disaster at school. From age 12 (tall and looked older) I was a semi professional drummer working clubs / pubs etc at night anywhere from 2 - 5 nights a week then attending school during the day. Any other spare time was devoted to enjoying time with girlfriends who were usually years older than me and working. Needless to say there was no time for homework:).

    I gave up drumming around 30 (not much fun for wife with me never being home) and returned to Uni to get an IT degree. Only got interested in trading / investing early on cause I hated working so thought it might help get me retired sooner.
     
    lixas4, Anne11, blob2004 and 6 others like this.
  13. The Falcon

    The Falcon Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,492
    Location:
    Sydney
    I've worked in the same industry since I was 17. No degree, but have done some exec ed tailored for owners of medium sized enterprise. Always had an interest in business and investing. As a younger man had the opportunity to take part (in a small way) in management buy-out of my employer (PE backed). Pinned the ears back on that even taking a personal loan because the management deal was too good to pass up (P/E ratio 2x when my research suggested 6x was fair). That worked out well in that I learned something and made a bit of money (nothing huge!) when that business was sold at 8x a few years later.

    Started my own business a decade ago with a business partner and external investors. Have bought them all out while continuing to grow the business and bring management on board as shareholders. Has been a long road of delayed gratification always focusing on growing the business and growing ownership stake. My interest in business and investing has stood me in good stead, particularly negotiating around buy-outs, taking on debt, valuation, compounding of earnings and the like.

    The journey continues!
     
    Last edited: 12th Sep, 2019
    lixas4, Anne11, blob2004 and 9 others like this.
  14. dunno

    dunno Well-Known Member

    Joined:
    31st Aug, 2017
    Posts:
    594
    Location:
    .
    Not very employable – so true.

    Some personalities are not meant to be caged. I don’t know how many times I said to myself, "You can’t fly like an Eagle when you work for Turkey’s" But that’s more about my poor attitude than about my employer.

    In fairness, they encouraged me to study and get the bits of paper that would have facilitated my promotion. But truth be know I felt like they were trying to put a suit on me and I ran the other way…………..scared of losing my freedom.

    But contained in failure to conform and get the piece of paper was the real seed of my future. Time value of money calculations. Now I like learning horrific formula’s long hand as much as the next guy, especially when everybody in real life just uses excel to calculate it……… but despite my sarcasm, playing endlessly with time value calculations and really coming to grips with compounding was an incredible seed for my thinking.

    More than my work life, I think my childhood/teenage years shaped me more. That’s where the desires, 'unfounded' beliefs, fears etc were all formed. The meritocracy and challenge of the markets push all my buttons. Without the market I don’t think I would have found Australia very egalitarian, in my case I wasn’t able to conform as a way forward.

    We all have such divergent backgrounds – It’s fascinating to read about them in this thread.
     
    Last edited: 12th Sep, 2019
    Gladys, sharon, VanillaSlice and 7 others like this.
  15. RogTheBear

    RogTheBear Well-Known Member

    Joined:
    18th Jul, 2019
    Posts:
    53
    Location:
    Sydney, Orstralia
    Have worked for a very long time for a Big 4, currently, wealth division, super subdivision - mainly BA-ing and product developing.

    This has zero to do with my interest in investing, although it is a useful to be able to sit here with graphs and blogs and forums and theories and spreadsheets to do with personal finances and have people assuming I'm doing actual work.:D

    I fell out of the food service business decades ago and when I did I had very low expectations of personal finances, and indeed, career, because I never thought I'd earn enough to pile up an Uncle Scrooge size roomful of dollar bills to throw carelessly in the air.

    I still don't have enough dollar bills to really get into the throwing thing, but I've always been a saver, and I've always spotted opportunity, and so via good fortune and holding my nerve I find myself approaching 60 at a rapid rate and, in theory anyway, being able to "retire" (and convert entire wealth to $5 notes and sit in a room and toss it in the air, maybe just once ;) - this would have been easier if they hadn't decommissioned the lower denominations :mad:) with some degree of comfort.

    Don't worry, I won't ever try to sell you a financial product or service.:cool:

    Oh yeah, I have a degree from QIT way back in the day but I never used it. Still handy from time to time though. Most of the people who currently work for me are significantly more "qualified" than I am. Careers, like investing, can also benefit from patience.
     
    lixas4, sharon, EN710 and 7 others like this.
  16. RogTheBear

    RogTheBear Well-Known Member

    Joined:
    18th Jul, 2019
    Posts:
    53
    Location:
    Sydney, Orstralia
    Ah, now that I know you're actually here.... this video that others keep referring to that you posted yesterday - I've tried skipping around the forums to find it but it's eluding me! Help a brother out with a link or directions, perhaps? :D
     
  17. Nodrog

    Nodrog Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    8,017
    Location:
    Me Me Me
    1A834235-A0D0-47B7-8BC8-0F0315EF8141.gif
     
  18. Nodrog

    Nodrog Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    8,017
    Location:
    Me Me Me
    Vanguard Global Value Equity Active ETF (VVLU) [ETF]
     
  19. dunno

    dunno Well-Known Member

    Joined:
    31st Aug, 2017
    Posts:
    594
    Location:
    .
    I do and don't agree with you at the same time.

    I grew up in one of those housing commission suburbs used in the joke.... What's the definition of confusion?..... Fathers day at……

    I had relative privilege, having a loving and functional family with both parents. Parents just found themselves in tight financial position by circumstance and bought a cheap housing commission house instead of renting and that turned out to be a bad mistake that trapped them for a long time.

    In contrast, I had many friends, intrinsically good people who were from dysfunctional families, single parent, alcohol, drug, mental illness and violence etc to contend with.

    I seriously doubt I would have been able to break out of some of their circumstances. Unfortunately, quite a few are already dead, at their own hand, drugs,alcohol or terrible health. I won’t dishonour them by saying its all about state of mind – sometimes circumstance are just too much, we need to be mindful of those that need a lift.
     
    Gladys, lixas4, sharon and 10 others like this.
  20. RogTheBear

    RogTheBear Well-Known Member

    Joined:
    18th Jul, 2019
    Posts:
    53
    Location:
    Sydney, Orstralia
    LOL - that's the one. Wish you'd quoted the previous word "never" though as well... :D

    Also, thanks for the link. I did see that, just couldn't remember where!