Earlier quoted context omitted.
The takeaway here is to leave before you're frustrated. While things are still good. That is when you are in the best position and frame of mind to make a change. Because you can walk away from any offer that isn't better. If you wait until things are terrible then yes you can feel trapped in a bad situation because you have to pay the bills.
If I did this I'd be finding a new job every 3-6 months. Over time I've realized that I'm not going to be happy in any 9-5 position, so I might as well save as much money as I can until I can afford to do something else.
Get ahead by not shooting yourself in the foot
51–60 of 66 posts
Re: Get ahead by not shooting yourself in the foot
#52Earlier quoted context omitted.
What is the indexed linked mutual fund of this analogy? Perhaps focusing on a specific technology or skillset such that you can be a contractor providing services to a range of other companies without having a commited relationship with any of them? (The index being your choice of technology / skills)
The index fund is the safe, big multinational corp that will never make you rich but probably never lay you off, just shuffle you around between orgs and pay for your retraining.
As an engineer you also might decide to join a SV based company and make $200k+ or you can become self-employed and deposit $56k into your 401k.
In reality anyone making $100k+ plus and living in M-LCOL area can become quite rich when comparing to other places in the world. That is if you are not buying/leasing new cars all the time and living humbly.
Re: Get ahead by not shooting yourself in the foot
#53> The typical employment lifecycle of an engineer is: Get frustrated by the current company culture and/or benefits, let this frustration sit for way too long, snap and choose a random company whose recruiter just happened to reach out, join there, and repeat the cycle all over again. It's scary how real this is, but it's easy to say "don't do that", when all the inhibitions about leaving your current job rotate arou…
I'd suggest that the reason most people don't leave sooner is not because it's scary but because the barrier to switch (finding, vetting, interviewing) is high. Just the thought of expending that effort is enough to discourage most and stay put.
Re: Get ahead by not shooting yourself in the foot
#54Re: Get ahead by not shooting yourself in the foot
#55Earlier quoted context omitted.
I'd suggest that the reason most people don't leave sooner is not because it's scary but because the barrier to switch (finding, vetting, interviewing) is high. Just the thought of expending that effort is enough to discourage most and stay put.
fwiw, I don't know why contract-to-hire isn't a bigger thing. It's the most risk free way for both sides to test the waters.
Interviewing has risks of course, but with interviewing a person can usually continue their current job and only quit when they have a better offer.
With contract-to-hire they have to quit their current job first, then have high uncertainty about whether they have a new long term job or a short contract leading to nothing..
Re: Get ahead by not shooting yourself in the foot
#56Earlier quoted context omitted.
Aside from finance, a big motivation to buy a home in the UK is to have more self-determination in your home life. Renting places you under someone else's control to a large extent. You often can't decorate much. Can't fit better windows, and windows where I've rented have usually been poor quality. Can't replace the washing machine even if it's not working properly. Can't put up shelves. Can't fit solar panels or be…
Yes, most of these things are indeed different in Germany (and I knew of most of the situation in the UK, I know people who lived or live there and the differences are wild). For example: > You often can't decorate much. No issue unless you fix it back up when you move out. > Can't fit better windows, and windows where I've rented have usually been poor quality. There must be laws in Germany, because I don't remember…
You can be completely prohibited from "damaging" things, including painting, in many jurisdictions. You also may have to match whatever grade of paint the landlord used. Some will use very expensive paints, or totally inappropriate paints, knowing it will lead to large deposit forfeiture, or the ability to collect excessive monies from the tenant.
> There must be laws in Germany, because I don't remember living in an apartment where the windows weren't top notch. That's also very necessary with temperatures sometimes going below -10°C.
In many apartments, especially illegal suites, you might not even get a window. The heating is your problem if the windows suck, and while in some jurisdictions there might be necessary temperature ranges the landlord must maintain, that's only if it's a "utilities included" apartment. Your heating bill could bankrupt you.
> Like all appliances, furniture, anything, it's "bring your own" in Germany (unless you have a common laundry area... not super common I think).
Often not the case, and is often a "feature". Again, it targets poor people, who then have a lower quality of life, and higher revolving costs. It's expensive to be poor.
> Same as before, as long as you fix up the holes when you move out, not an issue.
As before, you may be flatly prohibited from doing any damage to a wall.
> Don't know about solar panels. Like windows, never lived in an apartment without proper insulation in Germany (in the US on the other hand...).
Canada would like to have a word regarding insulation. Same with Australia, Japan, the US, etc. You can't make structural changes to a rental, and that definitely includes solar panels. You can negotiate something with the landlord, but it doesn't stop them from evicting you after it's done. You'll need a lawyer.
> You can put in whatever floor you like as far as I know, and I've done so.
Nope. You might be able to negotiate it, but you'll need a lawyer.
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When you rent, and you don't have a lot of money, it's fucking terrible. Low quality housing, low quality appliances, low quality life. It has higher revolving costs, and the absolute instability makes it untenable. Many of my family members bought and restored shitty in-bed campers as a safety net against eviction because it was constant and punishing.
This is advice for very high income, or already wealthy people.
Re: Get ahead by not shooting yourself in the foot
#57Earlier quoted context omitted.
fwiw, I don't know why contract-to-hire isn't a bigger thing. It's the most risk free way for both sides to test the waters.
In the context of the GP about basic Maslow needs and fears about housing and healthcare, contract-to-hire as an alternative to interviewing is not risk free for an employee who needs a steady income and isn't confident they will find another good opportunity quickly if they need to. Interviewing has risks of course, but with interviewing a person can usually continue their current job and only quit when they have a…
Re: Get ahead by not shooting yourself in the foot
#58Earlier quoted context omitted.
The index fund is the safe, big multinational corp that will never make you rich but probably never lay you off, just shuffle you around between orgs and pay for your retraining.
I actually think a competent engineer making $100k plus can become rich, maybe not filthy rich. If said engineer were to max out roth/401k for 30 years, they would most likely retire with few million dollars. As an engineer you also might decide to join a SV based company and make $200k+ or you can become self-employed and deposit $56k into your 401k. In reality anyone making $100k+ plus and living in M-LCOL area can…
Re: Get ahead by not shooting yourself in the foot
#59Earlier quoted context omitted.
If I did this I'd be finding a new job every 3-6 months. Over time I've realized that I'm not going to be happy in any 9-5 position, so I might as well save as much money as I can until I can afford to do something else.
Do you mean early retirement or starting your own business?
My only requirement is that I do what I feel like doing!
Re: Get ahead by not shooting yourself in the foot
#60Earlier quoted context omitted.
Yes, most of these things are indeed different in Germany (and I knew of most of the situation in the UK, I know people who lived or live there and the differences are wild). For example: > You often can't decorate much. No issue unless you fix it back up when you move out. > Can't fit better windows, and windows where I've rented have usually been poor quality. There must be laws in Germany, because I don't remember…
> No issue unless you fix it back up when you move out. You can be completely prohibited from "damaging" things, including painting, in many jurisdictions. You also may have to match whatever grade of paint the landlord used. Some will use very expensive paints, or totally inappropriate paints, knowing it will lead to large deposit forfeiture, or the ability to collect excessive monies from the tenant. > There must b…