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Career Help!! Anybody...

Discussion in 'Introductions' started by dmale69, 25th Sep, 2007.

  1. dmale69

    dmale69 Member

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    Well, first of all, this is the best website!! It really has been of enormous help to me, and so-far i have really benefited from all the members comments!

    Ok, so my problem is I don’t know what to do career-wise for the rest of my life…. (no big deal really!)

    Anyways, I’m 22 years old and about to finish a bachelor of commerce (with a major in finance and ??maybe?? accounting..).

    I’m curious to know what sort of ‘jobs’ people of this site do on a day-to-day basis, and also where they started… and any pointers on how they got there.

    The two generalist options I see are becoming a financial planner or an accountant. I currently work for one of the big4 banks, (just doing mundane data-entry…but we all gotta start somewhere right?)

    I really enjoy talking about finance, whether it be on a personal or larger scale, but just don’t seem to have any friends that share that interest with me (they all seem to be happy paying the minimum repayment on their 20%p.a. credit cards…that were of course used on retail rubbish)

    I guess I have the same objective as most you all when it comes to building wealth, I have recently started my share portfolio (yes recently!, I was scared..but I am a strong believer that ‘crisis = opportunity’ and so far so good!) and sooner rather than later I would like to buy my first IP.

    But when it comes to deciding what to do for the rest of my life I have no idea, and I’m running out of time as I will be graduating next year. Please help!
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    There's always time - and you can always change later !!

    Can't make any suggestions about the finance industry, sorry.

    I'm in IT myself.
     
  3. tailcat

    tailcat Well-Known Member

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    Your future can wait.

    At this point in the term just knuckle down and nail the degree.

    The change of perspective finishing/graduating will give you is amazing.

    Tailcat
     
  4. AsxBroker

    AsxBroker Well-Known Member

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    Awesome!!! Well done! I bet your really keen to finish :)

    On a day-to-day basis I am an Associate Adviser at an Australian life insurance company subsidiary. Most of my work involves dealing with clients over the phone and discussing various options for them to make more money, eg, transition to retirement for older clients. I also do the paraplanning for harder plans and present our recommendations to clients.

    My background is in stock broking work for three stockbroking companies and a share registry.

    If your already working, I wouldn't be too stressed out, your getting paid :)Office experience is very important when you go and see another potential employer, which is another bonus.

    There is a thread somewhere about FP courses. You can start with the Dip Fin Services (Fin Plan) from either from either FinSIA (Finsia Higher Education) or Kaplan (Home). They are both owned by Kaplan / Washington Post, FinSIA course has fixed terms whereas Kaplan is much more self paced (as quick as you can do it or up to about 8 months!).

    Good luck,

    Dan
     
  5. dmale69

    dmale69 Member

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    im know im sounding pretty anxious.. i'm finding the course work fairly easy and i guess i could say im nailing it (it maybe that i find it easy because the bulk of it really interests me)

    but i'm really interested in what others are doing (more so, in the finance/accounting industry), and any recommendations would be much appreciated.
     
  6. AsxBroker

    AsxBroker Well-Known Member

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  7. dmale69

    dmale69 Member

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  8. AsxBroker

    AsxBroker Well-Known Member

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    Piece of cake, the DFS is open book exams :)

    You can read about me here http://www.invested.com.au/64/hi-18599/#post36700 I've never had an accounting background.
    Both accounting and financial planning have plenty of opportunity waiting for you.

    PS The other thread discussion about courses is here http://www.invested.com.au/15/bach-bus-financial-planning-open-universities-18042/ though you don't want to have too much on your plate at once :)

    Cheers,

    Dan
     
    Last edited by a moderator: 25th Sep, 2007
  9. MattR

    MattR Well-Known Member

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    I'm an accountant working in public practice and if I had my time over again, I'd consider wokring in the finance sector. There always seems to be something going on of interest, some of it looks challenging and the money can be good. I know a couple of accountants who started in the late 80's in the merchant banks and they haven't looked backwards since.

    As an accountant in public practice often the issues I am dealing with are on a more micro level but they are no less important to the people /clients concerned. I enjoy the variety of my clients and work most of all.
     
  10. Aimjoy

    Aimjoy Member

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    Well first of all you don't have to know "what to do for the rest of your life". I'm 50 now and an IT consultant earning 6 figures working from home or flying to some other part of AU or NZ to visit prospects. When I was 22 years old this job did not even exist. Computers were the size of houses and you put punch cards into them. By the age of 35 I thought I'd escaped ever having to use a computer. Now I laugh at myself, I hop on a plane with my laptop, data projector, and a Platinum Credit Card with a limit I could buy a house on, pick up a hire car, stay in 5 - 6 star motels, eat out every meal and it still feels like its work. I'm not saying that to boast - I work hard but its all head stuff.....and none of it existed when I was 22. I feel very privileged and humbled by it all sometimes - especially when I see labourers in the hot midday sun or factory workers slaving over machines in noisy non-air-conditioned workplaces. Who knows what the world will be like when you are 50?

    If you live till 80+ you are still a pup.

    I have the same problem. Remember if you own more than 5 IP's in this country you are in a 0.5% group. So there are only 100,000 people spread out all over this land that think like you (&I) do.

    Congrats! just remember we are coming into the final part of the bull market so watch carefully and choose wisely - but a time where huge profits can be made.

    I gave this piece of advice to another a couple of months back and it seemed to strike a cord with him, so here it is again: Think back to when you were 4 or 5 years old and to your dreams then. I believe each child has a dream that God has placed within them. Unfortunately, it can get beaten out of them through life etc ....but take a quiet moment to reflect and see if anything comes to mind. I hope that doesn't sound too corny.

    Aimjoy:D
     
    Last edited by a moderator: 25th Sep, 2007
  11. dmale69

    dmale69 Member

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    aimjoy, Thank you for the great post! i've just come back from o/seas. it always seems to broaden your perspective on life! anyways i think your right with the whole childhood dream getting beaten out of you....

    as a youngin i wanted to be a pilot, i was dead set on it (i was an airtc cadet and have actually flown a couple of hours), but as you stipulated, it was 'beaten' out of me. just as i was finishing high school the industry wasnt looking too good (sept 11 and ansett collapse) so it didnt seem like a great idea. but the biggest problem was the cost of obtaining the commercial pilots license (bout $40k). coming from a sole parent family with 3 younger siblings this simply wasnt viable.

    well after thinking about it i have decided that on i will begin flying to obtain my pilots licence, step by step though it be (gfpt, ppl....).

    i really enjoy what i currently study (bach. of commerce) and with only a year to go i will complete it. and my plan is to fly on the weekends (especially over these summer holidays, i wanna get as many hours flying under my belt as my wallet can afford)...

    i glad i have thought about this. and im glad that i can finally say that i will be a pilot, even if this means i work in the finance industry (which im sure ill also enjoy) and fly recreationally on the weekends. my biggest fear is turning 'old' and saying 'why didnt you do that...?'

    so if anyone has any other stories on their career, or how that got to where they are i would greatly like to hear! as someone posted earlier i am still a baby, and i dont doubt that i will have several career changes throughout my life, so please post!
     
  12. islandgirl

    islandgirl Well-Known Member

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    I have just finished reading Rich Dad Poor Dad so I guess I'll answer your question of career choice this way.

    What do you want to do with your life. Do you want to get a good job, work hard for 40 odd years, buy your own home and retire on your superannuation or do you want to work because you enjoy what you are doing, because initially it provides cashflow for your investments.

    I think these days this whole "career" thing is over rated. How many different careers do you have in a life time - 3 - 4? How many university students have studies for years only to get a job in there chosen profession only to find they don't like it. Jobs are only a means to an end. They are only a source of positive cashflow

    The advise I would be giving is what do you enjoy doing, what areas do you need to know more about that would improve your investment style - the accounting side and understanding cashflows and assets and liabilities is a good start. Captialise on your strengths to find a job that you enjoy going to and ensure that you use your income to buy growth assets so in the long term you don't have to work unless you want to.
     
  13. TROM

    TROM Active Member

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    WA
    Mate i am 38 and going back to Uni to study so i can earn more income from my govt job. So i know how you feel. My advice would be get some life experience in the job you have just completed the Degree or nearly. Get 2-5years experience then leave that and go onto further study in another field you might like for example study property and commerce or investment banking or share trading. While your doing that learn about investing in all asset classes and invest like hell in property portfolio and share portfolio and continue to learn.

    Give it may be 20years of serious investing and you can sit back and become a full time investor watching your money grow doing what you like.

    I am still learning lost about $1.8M in property due to bad advice but am starting all over again and still learning. Even though in boring govt job still learning and starting part time business from home.

    So you have alot to look forward to welcome LIFE heheheheh:D
     
    Last edited by a moderator: 9th Oct, 2007
  14. costcutter

    costcutter New Member

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    Rich Dad Poor Dad

    Great posts, I have also just finished Rich Dad Poor Dad and was reluctant to read it because of the title, but it was very inspiring. I too was brought up believing that the only way in life was to get a job work very hard for somebody else and maybe one day you will get promoted, I have been like this for 20 years of my working life, but now I spend more time on my asset base slowly building this up and to be honest the past two years have seen better return on my personal assets than the so called investment in my career.

    What I am trying to say is to look outside the square and be true to your inner emotions. We all have something inside us that is great and truly inspiring but life can teach you to ignore this and just do what everybody else is doing. DON'T. Believe in yourself and greater things will happen.
     
  15. quoll

    quoll Member

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    adelaide
    G'day

    Can't add much new stuff but I'll try and reinforce what the others have said. Do something that is fun, try and get the work life balance thing going on, find a job that's fun, you will always have to study doesn't matter what you do you need to read talk learn.

    The higher paying the job is the quicker you can move on but the higher paying jobs have the peer pressure of spending more to keep up with the crowd. Find an investing style you like, something that fits with your way of thinking and your risk profile.

    Don't be scared to have multiple careers seems like most people are doing that now.

    Don't expect to jump into a dream job from uni, take what ever you can get.
    Work up to the most enjoyable job you can find.
    Read talk find out about investing.

    Try to have fun.

    Cheers
    quoll
     
  16. The Stig

    The Stig Well-Known Member

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    Well mate, you have your head screwed on.

    I was like you when I was your age. I am 35 now. I am looking for a new career in the Financial Services industry. I used to be a plumber LOL.

    If you wan to be a financial planner, see if you can convince your mates to invest for their future. See how that feels. If you really enjoy that experience then seriously consider financial planning.

    You could specialise in helping young people. Older people may not feel comfortable getting advice of a 20 something year old.

    Cheers
    The Stig
     
  17. dmale69

    dmale69 Member

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    i truly admire you for making the move.

    it can take a lot to step out of ones 'comfort zone' (i dont say comfort as in you enjoyed your previous job - not sure whether u did or didnt) but the fact that you are making that change is very credible, especially as you may feel you are older - not many ppl i know would have the courage to do what your doing!

    wishing you all the best in your new career!

    with regards to my career, im still undecided - i have a year to go at uni... i have just applied for a job as an equities settlements officer to get a better understanding of the markets and their participants.. but without being too negative i dont think i will get it - simply because i will be advising them i cannot work full time upon return to university... but you never know!
     
  18. The Stig

    The Stig Well-Known Member

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    You never know, if you are confident in the interview, tell them you are passionate about the markets etc etc they could very well snap you up. Think positive, go in positive.


    The last 5 years of my plumbing career I started to really hate it and I was over it. So it was easy to change.

    If you invest as heavy as you can between the ages of 20 to 30 and keep reinvesting the returns, you can be financially free in your 30's. When you are financially free you have the choice to do what ever you want. That is what I did and where I am now. So changing careers isn't hard and doesn't take any courage.

    BUT, I devoted my 20s to working and investing.

    If you want to be financially free in your 30s here is the formula I used.
    Work as much as you can and earn as much as you can.
    Spend as little as possible. Temptation was the challenge. Cars TVs, holidays etc. This is what kills people financially today.
    Borrow as much as I could to invest.
    Invest in the highest returning investments I could find.
    Compound my returns.

    That is what I did. It worked. I retired financially free at 35.
    What is financially free? Living off the cash flow from your investments.
    Retirement is boring now, so that is why I am looking for a new career LOL.
     
  19. Glebe

    Glebe Well-Known Member

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    So do you recommend your path? Or do you feel as though you lost out on part of your youth?

    I think this issue, the delayed gratification vs living for the moment battles are significant in our lives. I have tended towards the delayed gratification path, but there's no use being wealthy enough to spend an entire ski season at Thredbo if you're at an age when your knees can't handle it, and the overseas trips to Europe seem better when you're 21 etc.. It's a challenge...
     
  20. The Stig

    The Stig Well-Known Member

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    Would I recommend it? To those that want to get financial freedom as fast as possible, yes.

    I got to waste my fair share of money before I sold my business. I went to the USA 12 times and stayed in 3, 4 and 5 star hotels. Went to Canada, Vanuatu, Fiji, did Targa Tasmania and East Coast Targa. Had a race car and a sports car. So I didn't slum it. :D

    Race car was the biggest waste of money along with 1 bad investment.
    Targa Tasmania was a lot more money than I imagined. I did that too early. Probably should have waited till I was in my 40s or 50s.

    You have to have a balance I believe. But too many people throw the balance too far at consumerism and spend 105% of what they earn.