Calling all individuals who make a lot of money - please share your success stories.

[Macman45]

Just Maybe

Too many people go to college / University these day's. It's become apparent here in the UK for sure. I'm looking to come home (NYC) next year, but my own view on College is that if you have a clear idea of career (Doctor, Scientist Etc.) then a degree is a must.

There is no substitute for real life experience . This is why so many Graduates are not getting jobs.

I got my degree later in life, I don't really know why....Just felt it was "Unfinished Business" University teaches you a way of expanding thought.

If you are set on being a rocket scientist, Doctor, etc. Yes, otherwise.

We need people who can do other things too. It's not a pride thing anymore. Just my 2c worth.

 

[Kendo]

I got my degree later in life, I don't really know why....Just felt it was "Unfinished Business" University teaches you a way of expanding thought

Did you find it difficult to get your degree later in life? I too have to complete it but was lucky in being able to land a job in finance without a 4 year degree. Now that I am working full-time from 9 to 5, I find it a little daunting to go back but is still one of my goals that I wish to fulfill in the near future.

 

[Macman45]

I wWas Lucky

Did you find it difficult to get your degree later in life? I too have to complete it but was lucky in being able to land a job in finance without a 4 year degree. Now that I am working full-time from 9 to 5, I find it a little daunting to go back but is still one of my goals that I wish to fulfill in the near future.

I had money behind me, and still gigged 3 times a week and worked 2 jobs, it was tough, but my wife was with me, and she too was doing her degree in Phycology we had a ball, and were considered the "Go to" people for real life stuff.

We were both exhausted at the end, but enjoyed it much more than if I had done it at a younger age.

I hope you do but by the same token, as long as you are comfortable with what you do and are happy then that is more important.

 

[4JNA]

...want to jump in and say the "success story" does not always have to equate "lot of money."

same thought after reading the title, and then tread.

walked away from a 6 figure job fixing CT/MRI equipment, because i have 2 little boys and wife that are 7 figure important to me. would make the same choice again given the chance. i can work anywhere/anytime, but my boys are only young once, and it matters to me to get it right.

downside - hours (24x7) and $0 p/hour...
upside - shave once per week, wear shorts/sweatshirts/sandles year around.

 

[sigamy]

The only advice I will give is--no matter how much money you earn--always live within your means.

I make well over $100k and due to poor decisions such as buying more house than we could afford, trading in cars before we should have, taking vacations, etc. we are not where we'd like to be savings/comfort wise. To be frank, the finances are a real struggle right now.

If I had it to do all over again I would ignore the thoughts/views that you are supposed to do what everyone else does and get sucked into the debt cycle.

But my wife and I are adults and we are working to improve our situation.

My first job out of school in mid 1990s I was making $35k and I had lots more money (and less stress) back then...

 

[simply amazing]

Did you find it difficult to get your degree later in life? I too have to complete it but was lucky in being able to land a job in finance without a 4 year degree. Now that I am working full-time from 9 to 5, I find it a little daunting to go back but is still one of my goals that I wish to fulfill in the near future.

i, too, am in the same exact predicament. granted, being a graphic designer is pretty much who you know, not what you know; i would still love to finish my and get my degree. i was also lucky enough to be able to land a career as a designer for a magazine (the type of job i was hoping to get with a degree), but because of the schedule, i was never able to finish. it's been 5 years since i've been here and i cant help but feel daunted to go back, as well. i know getting my degree probably won't do anything as far as salary goes, but i would just like to say i finished college.

for those that have been in the business world for quite some time, would you say having a degree plays a crucial role in employment? minus the medical, engineering, or other obvious fields, of course.. or would you say having experience in the field outweighs the lack of degree? i'm not trying to rationalize me not finishing college, but i was always curious about it.

 

[GFLPraxis]

I'm in the exact same boat as the OP, but I'm trying to set up a budget to save ~33% of my monthly income by living below my means. Going to invest it. Either save for early retirement or watch out for a future business opportunity with the savings.

Money isn't everything, but time is. The things I could do with more free time...I would not squander it. So, I save and invest.

I'm very young and only just started doing this...I guess we'll see how I'm doing a few years from now. First few months have met my goal so far!

 

[Mr. McMac]

Considering I wasn't a good student throughout my school years, and I didn't go to college, I did pretty good for myself. I always found a way to make good money, legally I've been working in the printing industry doing electrical wiring / servicing since 1982 making 80+ grand a year. Made some good investments over the years that allowed me to pay off my home in 2 years. I have zero debt, and have an excellent credit rating. Oh yeah, I'm retiring when I'm 62 (I'm 59 now)

 

[Kendo]

i, too, am in the same exact predicament. granted, being a graphic designer is pretty much who you know, not what you know; i would still love to finish my and get my degree. i was also lucky enough to be able to land a career as a designer for a magazine (the type of job i was hoping to get with a degree), but because of the schedule, i was never able to finish. it's been 5 years since i've been here and i cant help but feel daunted to go back, as well. i know getting my degree probably won't do anything as far as salary goes, but i would just like to say i finished college.

for those that have been in the business world for quite some time, would you say having a degree plays a crucial role in employment? minus the medical, engineering, or other obvious fields, of course.. or would you say having experience in the field outweighs the lack of degree? i'm not trying to rationalize me not finishing college, but i was always curious about it.

It definitely is important in my field because one of the quickest ways to cut a resume pile in half is to require a degree. As I mentioned earlier, I was lucky to land a job for a financial firm but if I were to move on to another company, my resume might get lost in the shuffle just from the way HR software sorts out resumes.

Experience is of course extremely important, but what if you don't even get to the interview stage because you don't have a degree? These days I find that an MBA is what a bachelor's degree was 5 years ago. More and more are getting advanced degrees. It might be different in graphic design, but in the business world it is starting to become mandatory for new hires.

 

[RRNYC]

Did you get into the business due to your sales background or because you studied pharmacology in school? I have to admit, pharmaceutical sales does sound intriguing and would seem like an ideal mid-career change from finance.

It is true what you say about blowing the company's money. I have an acquaintance whose job is essentially to take out clients to fancy restaurants and show them a good time.

I was a business major and pursued it because I had a sales background. It's easier to teach technical information rather than teaching someone with a science background how to have personality for relationship selling.
Pharmaceutical sales is no longer what it used to be. The office for the inspector general shut down the pay to play tactics. When I was in it I had a suite at Coors field, took doctors skiing for the weekend and wines and dined all wanted. The company belief was if you weren't spending money, you weren't working. Like I said, it's not like that anymore but you still can do lunches and dinners

 

[Macman45]

That Says It All

same thought after reading the title, and then tread.

walked away from a 6 figure job fixing CT/MRI equipment, because i have 2 little boys and wife that are 7 figure important to me. would make the same choice again given the chance. i can work anywhere/anytime, but my boys are only young once, and it matters to me to get it right.

downside - hours (24x7) and $0 p/hour...
upside - shave once per week, wear shorts/sweatshirts/sandles year around.

We had the kids, and then did our stuff...I missed out a lot when they are growing up, but not when they are babies...At 8 day's old my eldest son was presented to the world at a very loud rock gig I was playing....I was so proud. And guess what? He slept in the baby carrier thing my wife had him in.

Woke up hater that night though. Good time you can not buy

 

[TG1]

I'm certainly not rich, but I'm in my mid-30's and make on the low-end of six-figures and certainly live a comfortable lifestyle.

I worked hard in a field (environmental) that I was passionate about since I was in highschool. I got a M.S. in Environmental Engineering and was willing to work in multiple industries at the start of my career.

Hard work and determination go a long way. My personal theory of success is: 1.) You have to be willing to work hard at what you do; and 2.) You have to want it for YOURSELF (not your parents, a spouse, or anyone else).

Good luck!

 

[Eldiablojoe]

I have a stable of young ladies for whom I arrange dates, and then I take a percentage of their evening's gross income.

It provides me a *Very* nice living, complete with floor-length fur coat, feathered boa, hat, and crystal walking staff.

 

[vitzr]

I did not grow up in a wealthy family, which ended up being an advantage since I learned early on the value of planning a budget, living within ones means, and the value of a good education if for no other reason than removing any roadblocks along the way.

Many elements went into my success story. I believe that a sense of accomplishment and monetary success involves both hard & smart work. An appropriate education, an unshakeable belief in your goal, combined with a high level of tolerance for risk taking and temporary failure. To get up shake it off and stay in the present moment. To value those around you and to keep things in perspective.

Especially as one experiences success, never let off, never get comfortable even momentarily. I'm in high tech, which as everyone knows is as competitive as other high visibility industries. While I've observed the impact of luck & timing on others, personally I find no substitute for a laser like focus combined with an extremely positive, solution oriented attitude.

Remaining grounded, leading my employees in a manner that inspires them to give their best knowing they are valued. Success is a team sport, and thanks to my team I've achieved a staggering level of success on all levels for well over two decades thus far.

I get a great degree of intrinsic satisfaction of being able to give back anonymously to worthwhile causes and sleep well knowing we operate ethically. It _is_ possible to achieve great financial success by doing the next right thing, avoiding nefarious actions against the competition. It's truly amazing what can be accomplished. Especially in the USA.

 

[kapolani]

I don't usually post in these types of threads, but decided it was worthwhile to share my experience.

I don't make gobs of money. I make over 100k a year. More than I ever thought I would make in my lifetime.

I didn't grow up poor. My life story isn't as bad as others. I did, however, grow up in Hawaii with a single mother raising two children. My father was always in my life and always paid child support. But, often times it wasn't enough. My mother had to take two jobs to provide for me and my sister.

I was a decent student in school. Never had aspirations to go to college because I never thought my family would be able to afford to send me to college.

I didn't really do anything of note for the first 20 years of my life. Got a few odd jobs - Domino's Pizza - McDonald's etc. One day I woke up and decided I didn't want to live at home and wanted to get out and do something. I decided to see what the military had to offer.

Joined the US Navy in 1993. Best decision of my life. The military taught me discipline. They taught me the desire to succeed. They even gave me some money to go to college once I got out of the USN.

Went to college at the ripe old age of 27. During college I took a class on programming. Ended up liking it and was pretty good at it.

Here I am today. Living comfortably with a wife and beautiful daughter. We don't worry about money, but live within our means.

I always tell young people. If you feel like you don't have a way out of the path you are living right now - take a look at the armed services. They will teach you a skill - show you how to succeed - and give you money for school.

Hooyah 195!

 

[Don't panic]

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I totally agree, work smarter, not harder. I'm not suggesting be lazy and not get a degree or to go school, but getting a phd just because of the money will make your life miserable.

If you look at multimillionaires and billionaires, most are not PhDs.

except we are not talking about becoming multimillionaires. there is no obvious 'path' for that (i am not including family money in this).

By far the best way to ensure a paying job in the 6-digit range is to get a higher education (PhD, MD or other professional degrees).
and it is not true that a PhD gets you into debt. College could, of course, and so will most professional degrees, but grad students usually get a (low) salary. the hard part is getting in.
but all my students found decent jobs shortly after graduating and the majority of them will end up in high-paying ones in time (again, we are not talking about becoming billionaires)

look at any statistics and there is a direct correlation between level of education and earnings.
then of course there are exceptions, and having a degree doesn't guarantee you that income. you also have to be good and you have to work hard.

an example, from the bureau of labor

and of course, salary does not equal success and much less happiness, but those are completely different stories.

 

[senseless]

Working for someone will always limit your earning potential. Owning your own business is risky, stressful and time consuming but is the most satisfying when you succeed. It's not for everyone, but great if you have a passion and skill for something salable. Oh, and you have to work a lot without much vacation time.

 

[smithrh]

Sales

It's certainly not for everyone, but sales - specifically, business-to-business enterprise type sales - is one path that is open to many people reading this.

If you make your financial goals, all it takes is one good deal to set you for a long time. Of course, most sales people are competitive so they don't quit after just one big sale...

Case in point, I bought some $3m in software from one vendor for my employer this year. I am entirely confident that my sales person will get a commission check in excess of $400,000* for his efforts - and I'm just one of a dozen or so clients that he sells to.

Sounds great right? Well, consider that not every year may be that great (it took him 3 years to get that $3m order from me), so your income can go up and down greatly (even to $0), which isn't pleasant for most people, plus you have to deal with a lot of rejection, plus politics and chasing people and corporations for payment... it's not easy, I know I couldn't do it.

But if you've got the personality and skills, it's very lucrative once everything aligns, you're selling a product that you can understand and get behind that solves business issues, and Bob's your uncle. Until that point, it can be hard going. Most give up before then...

* Damn right he owes me dinner!