How wealthy do you feel?

[Xenophon]

the question is,

you might feel wealthy today, but if your contracting ends tomorrow will you still be wealthy next year and the year after and the year after etc ?

Milan.

Yes Milan - that would indeed be truly wealthy. I voted 'Moderately Wealthy' for pretty much the same reasons that NotAllThere describes. I readily concede that without work, my 'wealth' would be short-lived.

[DodgyAgent]

Where's the

"this time next year Rodders....." option?

[milanbenes]

Folks and especially Wilmslow....

consider this:

The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.
Michelangelo


Milan.

[Chantho]

Where's the "I am wealthier than threaded" option? Not that anyone could honestly vote for it, of course.

[Marina]

The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.

Michelangelo

"setting our aim too high and falling short" would certainly be dangerous if you paint high ceilings. I guess the moral is to double-check the scaffolding, or use a very long brush.

P.S. Moderators, how many posts does a new poster need under their belt before they come off the "moderator approval" stage for each? This is getting ridiculous, and several of my posts have disappeared without trace!

<mod>You have not yet reached the higher plane. Newbie one liner posts are often deleted. Say something worthwhile to ensure approval. This one just scraped through.</mod>

[PAH]

I remember before my last year off contracting how I felt so smug and rich with all that wonga sitting in my company account.

Turns out I'd forgotten about corporation tax which I'd yet to pay on those earnings, not to mention IR35 if I was ever 'caught'.

During that year off it was scary to see how fast the pot dwindles without any form of income at all. So unless I somehow learn to invest wisely and not just piss it up the wall, I've resigned myself to working till I can retire, which looking a the piss-poor performance of my private pension, won't be anytime soon.

So I feel quite poor, even though I'm debt-free. The cost of living is just too high to feel comfortable. God knows how I'd cope on a permie salary if it ever came to that.

[ThomasSoerensen]

I have the level of financial security now that allows me to not stress too much about the time it will take to start next gig after this one ends.

I feel comfortable, but I have to continue contracting for quite a while before retiring.

But I don't mind that.
I find my working days to be quite nice.

[tay]

Turns out I'd forgotten about corporation tax which I'd yet to pay on those earnings, not to mention IR35 if I was ever 'caught'.

So I feel quite poor, even though I'm debt-free. The cost of living is just too high to feel comfortable. God knows how I'd cope on a permie salary if it ever came to that.

You 'forgot' about corporation tax? How stupid can you be?

[DS23]

you're only as wealthy as the wallet you feel.

[PAH]

You 'forgot' about corporation tax? How stupid can you be?

I forgot how much it was likely to be. That's what my accountant is for. It's easy to look at your bank balance and think that it's all yours to do with as you wish.

I hate those days where I have to pay VAT and corp tax. If they ever chased me for IR35 backdated god knows how many years, I don't think I could cope. Would possibly even have to declare myself bankrupt rather than pay back such a large bill, if bankruptcy is an option in this situation.