Topic: The money thread

[Northernridge]

The most productive thought I've ever had about maximizing both money and quality of life is to separate time from income. To do so you have to get out of the hourly rate/annual salary way of thinking...and to be honest very few people will ever do this – in fact they will insist on a time-for-money scenario...which plays into the hands of employers frankly. On the other hand, look at Revelations as an example...he trades units of equipment mostly online where $$/per unit of time don't much matter. If you can figure this out you have the potential to make more money without working more or perhaps even working less.

This also works for consultants, the Kings of hourly rates. We get hired to do a project and create an outcome, not to provide units of time so we always quote a project cost based on what think the value of the outcome will be to our client. There are competitive pressures and other factors of course that create hard ceilings for pricing but if we were to only think in terms of hourly rates we'd be worse off.

[tenpenny]

Yes, if you're billing your time, you can only make so much money.

If you are selling something else, either products, or other people's time, or 'solutions', then you can make much, much more money.

[Snowman]

Yes, if you're billing your time, you can only make so much money.

If you are selling something else, either products, or other people's time, or 'solutions', then you can make much, much more money.

Not entirely true. I have provided a deliverable at a fixed cost based on an estimate of time to complete. If I deliver by only utilizing 60% of the hours then I experience substantial growth. In addition I can then spend time on other reimbursable projects. I have also worked for companies on retainers and bill by the month regardless of hours work. I have experienced months where revenues are 3-4 times the average.

[aquadorhj]

i'm happy with billing my time.

I enjoy my work for the most part and i've long realized my limitations in creating demand for my skills.  for lack of better words, I am a poor salesman.

i'm more an engineer(not career wise, but personality) than creative type, so i like structures and procedures. 
that doesn't mean i'm not creative, but my creativity has limits given the types of problem i'm solving at that moment in time.

Wouldn't it be better if i could make more money?  sure.  i think more wouldn't hurt, but i'm ok with what i make.  don't have any debt other than mortgage(finally, student loan's all paid up) and am squirreling away some money every months for rainy days, which i've all too often experienced in last few years, which made me particularly risk averse.

i'm not young anymore, but i'm not old either, and i look at all the bright side and opportunities that may come my way in the future, and will prepare to grab it when it does.

oh and GYPSY term..   i do fall into the category, but i've long since realized my faults and foibles. 

[tenpenny]

Not entirely true. I have provided a deliverable at a fixed cost based on an estimate of time to complete. If I deliver by only utilizing 60% of the hours then I experience substantial growth. In addition I can then spend time on other reimbursable projects. I have also worked for companies on retainers and bill by the month regardless of hours work. I have experienced months where revenues are 3-4 times the average.

Two examples where you are not billing your time.

[Snowman]

Not entirely true. I have provided a deliverable at a fixed cost based on an estimate of time to complete. If I deliver by only utilizing 60% of the hours then I experience substantial growth. In addition I can then spend time on other reimbursable projects. I have also worked for companies on retainers and bill by the month regardless of hours work. I have experienced months where revenues are 3-4 times the average.

Two examples where you are not billing your time.

The estimate and my invoice is based on time. Not the same thing 

[revalations]

^^Unrelated to the post...but which big rig gets the best gas mileage, and what is that gas mileage??

Volvo- D13 with autoshift 13 speed will get 7 MPG

Automatic tranny?  What kind of HP and TQ??

I shift is a clutchless manual. D13 ranges from 375-500 HP and 1450-1750 ft lbs torque.

[CanuckS2K]

Interesting thread. 

About two years ago, I turned down a quite a large paying job.  It would of put me on the road travelling 4 weeks out of 6.  I didn't have to think twice about the decision.  Compared to my current lifestyle of working from home, spending time with my family, cooking meals, and all of the other things that I enjoy doing, the money just wasn't worth it for me.  As I get older (currently 41), I realize that making a sh!tload of money isn't worth it if you're sacrificing family life and things that you enjoy doing.

I have ZERO desire to climb the corporate ladder.  I've been with my company for 17.5 years and even though I work from home, I'm looking to get out.  Corporate life and office politics suite me just as much as a minivan does.  My goal is to be a stay at home Dad and continue to operate my detailing and brewing business.   For me, freedom > money all day long. 

[Snowman]

Interesting thread. 

About two years ago, I turned down a quite a large paying job.  It would of put me on the road travelling 4 weeks out of 6.  I didn't have to think twice about the decision.  Compared to my current lifestyle of working from home, spending time with my family, cooking meals, and all of the other things that I enjoy doing, the money just wasn't worth it for me.  As I get older (currently 41), I realize that making a sh!tload of money isn't worth it if you're sacrificing family life and things that you enjoy doing.

I have ZERO desire to climb the corporate ladder.  I've been with my company for 17.5 years and even though I work from home, I'm looking to get out.  Corporate life and office politics suite me just as much as a minivan does.  My goal is to be a stay at home Dad and continue to operate my detailing and brewing business.   For me, freedom > money all day long.

I hear you about the working from home thing as I have a good go now for the past 10 years. The flexibility is priceless..... But.... I have an opportunity to work for a fund on Bay Street and I must say this one could be fun and rewarding from a challenge prospective...undecided  will have to make decision next week. 

[CanuckS2K]

Interesting thread. 

About two years ago, I turned down a quite a large paying job.  It would of put me on the road travelling 4 weeks out of 6.  I didn't have to think twice about the decision.  Compared to my current lifestyle of working from home, spending time with my family, cooking meals, and all of the other things that I enjoy doing, the money just wasn't worth it for me.  As I get older (currently 41), I realize that making a sh!tload of money isn't worth it if you're sacrificing family life and things that you enjoy doing.

I have ZERO desire to climb the corporate ladder.  I've been with my company for 17.5 years and even though I work from home, I'm looking to get out.  Corporate life and office politics suite me just as much as a minivan does.  My goal is to be a stay at home Dad and continue to operate my detailing and brewing business.   For me, freedom > money all day long.

I hear you about the working from home thing as I have a good go now for the past 10 years. The flexibility is priceless..... But.... I have an opportunity to work for a fund on Bay Street and I must say this one could be fun and rewarding from a challenge prospective...undecided  will have to make decision next week.

The flexibility for me at home is priceless........just the little things like seeing my daughter off the bus every day.  The whole rat race and seeing my kids for 2 hours a day doesn't appeal to me in the least.  No amount of money will ever make it worth it.  Plus, I lead a pretty decent lifestyle as it is so it's not like I feel financially pressured to make any more money than I do.  Life is pretty good and I can't say that I have any complaints. 

Best of luck with you're decision on the new opportunity.  Just don't let the $$$ rule your decision........but I know you already know that.   

[Snowman]

Interesting thread. 

About two years ago, I turned down a quite a large paying job.  It would of put me on the road travelling 4 weeks out of 6.  I didn't have to think twice about the decision.  Compared to my current lifestyle of working from home, spending time with my family, cooking meals, and all of the other things that I enjoy doing, the money just wasn't worth it for me.  As I get older (currently 41), I realize that making a sh!tload of money isn't worth it if you're sacrificing family life and things that you enjoy doing.

I have ZERO desire to climb the corporate ladder.  I've been with my company for 17.5 years and even though I work from home, I'm looking to get out.  Corporate life and office politics suite me just as much as a minivan does.  My goal is to be a stay at home Dad and continue to operate my detailing and brewing business.   For me, freedom > money all day long.

I hear you about the working from home thing as I have a good go now for the past 10 years. The flexibility is priceless..... But.... I have an opportunity to work for a fund on Bay Street and I must say this one could be fun and rewarding from a challenge prospective...undecided  will have to make decision next week.

The flexibility for me at home is priceless........just the little things like seeing my daughter off the bus every day.  The whole rat race and seeing my kids for 2 hours a day doesn't appeal to me in the least.  No amount of money will ever make it worth it.  Plus, I lead a pretty decent lifestyle as it is so it's not like I feel financially pressured to make any more money than I do.  Life is pretty good and I can't say that I have any complaints. 

Best of luck with you're decision on the new opportunity.  Just don't let the $$$ rule your decision........but I know you already know that.   

Yep, nothing more I enjoy than making my son breakfast at 07:15 before he heads to school and lunch when he shows up at 11:20....the wife...pfffff she is on her own 

[Solstice2006]

I have no problem cooking for all of us, makes it so much tastier!     But you guys can keep this between us...

[tooscoops]

i'm gonna go spread the word! solstice loves to cook and doesn't like his wife's cooking!

well, as you guys all on here know, i am in car sales... so not super lucrative (at least the way i sell and the company i work for)... my family have always owned dealerships, and it was always expected that i would take over my fathers shop. in the early-mid 2000's i could see that the auto industry was in for a downfall and i sat down with dad and told him to sell it, but not to me... he held off thinking it was no big deal... by 2009, he closed the doors. the business did him well as a whole. maybe i just didn't have the guts to try and turn it around, but i like to think i was just being logical.

now some of that hesitancy seems to stick with me on investments and work related chances. also doesn't help that i chased my now wife out west and lived a year working job to job while paying a mortgage, car payments in ontario and rent and living expenses in victoria... kind of depleted my savings...

thinking about making a change though. seems to come in waves... had a few job offers in the last week... and they all seem to offer more cash plus more freedom (plus i don't have to explain that i'm a good guy after telling people what i do)...

we shall see what happens... going to have a work meeting over a beer tomorrow.

[Ex-airbalancer]

i'm gonna go spread the word! solstice loves to cook and doesn't like his wife's cooking!

well, as you guys all on here know, i am in car sales... so not super lucrative (at least the way i sell and the company i work for)... my family have always owned dealerships, and it was always expected that i would take over my fathers shop. in the early-mid 2000's i could see that the auto industry was in for a downfall and i sat down with dad and told him to sell it, but not to me... he held off thinking it was no big deal... by 2009, he closed the doors. the business did him well as a whole. maybe i just didn't have the guts to try and turn it around, but i like to think i was just being logical.

now some of that hesitancy seems to stick with me on investments and work related chances. also doesn't help that i chased my now wife out west and lived a year working job to job while paying a mortgage, car payments in ontario and rent and living expenses in victoria... kind of depleted my savings...

thinking about making a change though. seems to come in waves... had a few job offers in the last week... and they all seem to offer more cash plus more freedom (plus i don't have to explain that i'm a good guy after telling people what i do)...

we shall see what happens... going to have a work meeting over a beer tomorrow.

Good luck

[sailor723]

Good Luck Tooscoops!  I hope you find your path.

[mmret]

This thread has sort of turned into this thread: http://www.autos.ca/forum/index.php/topic,48659.0.html

[tooscoops]

the fact that you remembered a thread that stopped 6 years ago is impressive!

i think this started off as an investments and such thread... but hard to suggest anything when you don't know what people are playing with...

as for investments... i do have 6-7 g's in a trust for my baby boy... just went safer with royal bank stock... we'll see if i can ever add anything to it.

[Northernridge]

It's all good. Forum threads are like letting a balloon go...no damn way to control it.

Money is a broad topic.

[safristi]

...

[blotter]

wow.. some threads escape me and i find them 4, 5, 6 pages deep.

i'm out of time to write my "story"

but i'll say this:

it's never how much you make, it's how much you spend.