Aggregates

[worms]

At least I don't have to worry about having a big salary. That must be hell.

Hellish enough that lots of people actively reject such jobs in favour of 'downshifting'.

Well, I think most tend to only "downshift" after they have amassed enough to make life considerably more comfortable in the long-term than it is for those of us who never managed to "upshift" in the first place!

 

[Flyfisher]

A very fair point, but a lot depends on how people adapt to the big salary.

If they choose the high life, then their lifestyle expands in line with their income, and sometimes beyond, such that even their large income can only just service their loans and other long-term financial commitments. Yes, a new 'supercar' every year, a private light aircraft and helicopter trips to major sporting events might be great fun but any hiccup can mean financial disaster. I knew of someone in that position and it ended in suicide.

Alternatively, take the higher salary but live, more or less, the same lifestyle as before and use the extra income to pay off the mortgage and all other debts, build a nice little nest-egg, move to a cheaper part of the country and retire early.

 

[d49xc]

As from next Friday I will be joining the ranks of the unemployed - a state I am rather looking forward to until the money runs out.

Sorry to hear about this Nigel.
In my case some years ago the workplace had become so crazy that I was simply delighted that I no longer had to go back in the next Monday.
I now often wonder how on earth I found the time to work - I'm always busy doing something
Rather OTT but with some many things now being done by computers and machines in one way or another whether that be manual labour being supplanted by robots or high tech work such as CAD now also being taken over by automated expert systems....we all should start thinking about the future of work - perhaps a future of almost permenant part time work for the majority of the population beckons.
I

 

[Nigel Watts]

My impending state of unemployment is partly self-inflicted. I elected not to relocate from Central London to Swindon following a decision to move our offices. Staying on would have entailed a commute of nearly four hours per day or moving house, neither of which appealed to me and my employer was offering quite generous terms. After taking a short break - something I have never done between jobs since I started working in September 1980 - I am planning to do interim work, ie becoming a self-employed temporary worker. Not sure how well this plan will work given the state of the economy but it could have a number of advantages, not least by providing the possibility of taking breaks between assignments and therefore not having to work all year round.

 

[JoceAndChris]

Good choice Nigel. You're so senior and successful at what you do, I can't imagine you'll get much time to yourself, so enjoy this window of opportunity.

Chris wanted breaks between contracts, but it's never happened. They always want him to stay on, and then he's always head hunted by another company and offered something more attractive. He has to fight for every little bit of holiday he gets. So hard, that work life balance.

 

[JoceAndChris]

A very fair point, but a lot depends on how people adapt to the big salary.

If they choose the high life, then their lifestyle expands in line with their income, and sometimes beyond, such that even their large income can only just service their loans and other long-term financial commitments. Yes, a new 'supercar' every year, a private light aircraft and helicopter trips to major sporting events might be great fun but any hiccup can mean financial disaster. I knew of someone in that position and it ended in suicide.

Alternatively, take the higher salary but live, more or less, the same lifestyle as before and use the extra income to pay off the mortgage and all other debts, build a nice little nest-egg, move to a cheaper part of the country and retire early.

A lovely plan in your last paragraph but very hard to achieve on 100-150 k if your house costs 800k and you've had no help.

 

[Penners]

Good choice Nigel.... enjoy this window of opportunity.

And make curtains for it, of course. :wink:

I do hope your plan works out for you, Nigel. I have to say that, were I given the "opportunity" to work in Swindon, I'd have done the same as you. It's only an hour-and-a-half up the M4 from Slough, so Betjeman's friendly bombs could perhaps expand their target area.

 

[Flyfisher]

A lovely plan in your last paragraph but very hard to achieve on 100-150 k if your house costs 800k and you've had no help.

The biggest help is moving to a cheaper part of the country. Hertfordshire house prices are ridiculously higher than in Norfolk and, with no mortgage involved, such a move can release a lot of equity. Plus, if the new house is a bit of a wreck, then even something fairly substantial might only have a market value of half your figure. It can also be a big help if the move can be timed with a healthy redundancy package.

Are you taking notes Nigel? :wink:

 

[Juju]

I'm on the verge of resigning from my job with the plan of being self-employed, etc. It's so scary to make the leap though - I've been very lucky to be in employment for 22 years but I feel the need to do something different now. I have moments when I'm ready to write the resignation and then I panic and think I should just appreciate what I've got and stay put. On the other hand with all the public sector funding cuts, the decision might be made for me - I work for a university that isn't making redundancies at the moment but it's only a matter of time....

Oops that has nothing to do with aggregates but it's an interesting digression from the original thread.
Juju

 

[JoceAndChris]

A lovely plan in your last paragraph but very hard to achieve on 100-150 k if your house costs 800k and you've had no help.

The biggest help is moving to a cheaper part of the country. Hertfordshire house prices are ridiculously higher than in Norfolk and, with no mortgage involved, such a move can release a lot of equity. Plus, if the new house is a bit of a wreck, then even something fairly substantial might only have a market value of half your figure. It can also be a big help if the move can be timed with a healthy redundancy package.

Are you taking notes Nigel? :wink:

I'm thinking more of first or second time buyers, who have to work in the South East. Take my rather famous friend, who despite being on a good salary, is in a little flat in a rough part of London. He has to be in London.

I think people who can move to a cheaper area are lucky- we did that, but spend the equivalent of a far higher mortgage on commuting. :? If Chris were to work locally, his salary would be about a fifth of what it is now. There is no perfect answer.

Juju, good luck with the exciting change you're contemplating.

 

[robgil]

we found a perfect answer , relocate altogether. find somewhere cheap to live and then find work there. we thought wages would be relative to house prices and living costs but we were wrong , cost of living here is cheaper than where we came from yet wages are pretty much the same more or less.
house prices are relative to the number of people who want to live there , the south east (east sussex) where we came from being very popular with rich londoners.

 

[MatthewC]

Well, I've just been made redundant at 58, and quite like the idea of early retirement . I quickly realised whilst working my notice that there was no way I could expect to get another job to support us continuing to live in a flash pad overlooking the Thames, which is why we've just moved to Oxfordshire (rented). We exchanged on the flat yesterday which frees us to buy our own place here using the capital, and no mortgage. Time to rein back on routine expenditure and make sure that we don't spend more than our meagre pensions...

My first impressions are that the cost of living is less than London, and everyone is so much more friendly here . Also, tradesmen here quote MUCH less than London prices, and I suspect that they are more concerned about their reputation than in London where there is always someone else to work for who hasn't heard how bad you are.

 

[Feltwell]

I have to say that, were I given the "opportunity" to work in Swindon, I'd have done the same as you. It's only an hour-and-a-half up the M4 from Slough, so Betjeman's friendly bombs could perhaps expand their target area.

Having been give the "honour" of working in Swindon some years ago, and having failed to take up my company's offer of relocation and instead deciding to drive each day from Southampton, I would concur that Swindon would be a worthy target of Betjeman's friendly bombs.

The magic roundabout is quite entertaining to drive round in rush hour though, unless you are of a nervous disposition.

http://en.wikipedia.org/wiki/File:Swindon-Magic-Roundabout.svg

 

[Penners]

The magic roundabout is quite entertaining to drive round in rush hour though, unless you are of a nervous disposition.

You imply that it's possible to drive around The Magic Roundabout in the rush hour.

Remembering the number of times that I've sat at that location in stationary traffic, I have to say that's not my experience.

 

[Flyfisher]

And I thought the Magic Roundabout was unique to Hemel Hempstead: http://en.wikipedia.org/wiki/Magic_Roundabout_%28Hemel_Hempstead%29