The Personal Development & Financial Independence Thread

cguy said:
A lot of really good points in there (some which I mentioned in post #8). The key thing is that working towards increasing income is usually a bigger factor than saving, and also that to grow your income there are things that people need to do - most just choose not to, because of the short term sacrifice involved.
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The one point that seems to be but that I am not sure I am a fan of when increasing income, is that usually one has to go into management to continue growing income. I am not sure I would enjoy being a manager rather than a maker. (I am sure you are familiar with the maker manager essay)
 
ronz91 said:
The one point that seems to be but that I am not sure I am a fan of when increasing income, is that usually one has to go into management to continue growing income. I am not sure I would enjoy being a manager rather than a maker. (I am sure you are familiar with the maker manager essay)
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I’ve been a hands on manager for over 25 years now, with a few IC only years scattered in between. I would argue that unless the work is reasonably shallow, a good technical manager needs to have familiarity with the material, and the best way to achieve that is to continue to do hands-on work.

Also, even as an IC, there is huge opportunity to make money, if you play things right.

Wrt the M vs M essay, the type of manager they’re talking about is very high level (hundreds or thousands of reports in my experience). People who are paid to manage tiny slots of time with O(10) reports are probably not worth their paycheck, or are paid very little.
 
cguy said:
I’ve been a hands on manager for over 25 years now, with a few IC only years scattered in between. I would argue that unless the work is reasonably shallow, a good technical manager needs to have familiarity with the material, and the best way to achieve that is to continue to do hands-on work.

Also, even as an IC, there is huge opportunity to make money, if you play things right.

Wrt the M vs M essay, the type of manager they’re talking about is very high level (hundreds or thousands of reports in my experience). People who are paid to manage tiny slots of time with O(10) reports are probably not worth their paycheck, or are paid very little.
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Ah okay the type of management you describe basically sounds like a senior engineer type where I am. Current workplace has managers that are basically in meetings most of the day/out of sight and do not do the same tasks those below do for the most part.

Your type of manager sounds much better and I could live with that.
 
ronz91 said:
Ah okay the type of management you describe basically sounds like a senior engineer type where I am. Current workplace has managers that are basically in meetings most of the day/out of sight and do not do the same tasks those below do for the most part.

Your type of manager sounds much better and I could live with that.
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Do the software engineers in your company report to managers that just do meetings?

Also, what type of work do you do? Dev?
 
cguy said:
Do the software engineers in your company report to managers that just do meetings?
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No idea, don't think we have any in the SA subsidiary.
cguy said:
Also, what type of work do you do? Dev?
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Sadly not IT related, manufacturing company. I am in Mech Eng and there are Elec and Industrial here.
But I am wanting to get into something code related if not actual software dev.
Been either thinking the mechatronic route to get into automation type stuff or something like a SAP dev since we use that quote alot and I got into some programming on ERP at my prev job.
 
ronz91 said:
No idea, don't think we have any in the SA subsidiary.

Sadly not IT related, manufacturing company. I am in Mech Eng and there are Elec and Industrial here.
But I am wanting to get into something code related if not actual software dev.
Been either thinking the mechatronic route to get into automation type stuff or something like a SAP dev since we use that quote alot and I got into some programming on ERP at my prev job.
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Yeah, I expect that there is a much wider range for software engineers. R100k/y for Juniors, R1.2m/y for Seniors, R2-4m/y for remote senior, and even up to R20m/y when working overseas at Principal or so level.
 
Just skip supper, you will loose weight fast. I lost about 15kg over 4 months just skipping supper completely. Intermittent fasting. Big difference. And get a decent digital scale, they dont lie.

As for gaming. Just buy the fake ones from Temu anyway, they work just as well. Previously it was a home cinema room, now its a gaming room with sit stand desks, and ergonomic chairs designed by NASA, and oh you can make a fire on it, and it wont burn. HM that is, or was.

Honestly, less cables is my next step. I use a laptop for gaming but my dual screen setup and mouse and keyboard and headphones etc etc still.....cables.
 
To make income....move to Dubai and pay no tax. Or become a foreign consultant ie HR. Work in the oil industry.

If youre still starting up, look up the job specs of a PIPE ENGINEER. Yip you may be laughing now but they are very popular yet rare and they design and build all the pipe systems for gas and oil. They make a fortune.

But honestly, you want to be in Dubai or Qatar where you pay no income tax. Hong Kong isnt bad. In finance its Singapore, but only goto Singapore or Hong Kong if you're single.

Singapore ironically is CHEAPER and NICER than Hong Kong.

10 million for an 16 square meter bachelor flat in Hong Kong is the norm. My friend is renting a 2 bedroom that his company is paying for, but if he wants to buy it.....R50 million bucks. They are from Singapore though and have an apartment HDB in Singapore.

You can make a lot of money abroad compared to here.

US is also popular money wise, if you can get in. Europe doesnt pay you so well, sure it feels better, but not much better, unless youre like a banker.
 
Corelli said:
To make income....move to Dubai and pay no tax. Or become a foreign consultant ie HR. Work in the oil industry.

If youre still starting up, look up the job specs of a PIPE ENGINEER. Yip you may be laughing now but they are very popular yet rare and they design and build all the pipe systems for gas and oil. They make a fortune.

But honestly, you want to be in Dubai or Qatar where you pay no income tax. Hong Kong isnt bad. In finance its Singapore, but only goto Singapore or Hong Kong if you're single.

Singapore ironically is CHEAPER and NICER than Hong Kong.

10 million for an 16 square meter bachelor flat in Hong Kong is the norm. My friend is renting a 2 bedroom that his company is paying for, but if he wants to buy it.....R50 million bucks. They are from Singapore though and have an apartment HDB in Singapore.

You can make a lot of money abroad compared to here.

US is also popular money wise, if you can get in. Europe doesnt pay you so well, sure it feels better, but not much better, unless youre like a banker.
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You still have to pay tax anywhere in the world unless you financially emigrate... Dubai, Singapore, Hong Kong, Mars it doesn't matter.

The first R1.25m is tax free if you comply with Section 10, thereafter you are taxed on the difference.
 
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Corelli said:
To make income....move to Dubai and pay no tax. Or become a foreign consultant ie HR. Work in the oil industry.

If youre still starting up, look up the job specs of a PIPE ENGINEER. Yip you may be laughing now but they are very popular yet rare and they design and build all the pipe systems for gas and oil. They make a fortune.

But honestly, you want to be in Dubai or Qatar where you pay no income tax. Hong Kong isnt bad. In finance its Singapore, but only goto Singapore or Hong Kong if you're single.

Singapore ironically is CHEAPER and NICER than Hong Kong.

10 million for an 16 square meter bachelor flat in Hong Kong is the norm. My friend is renting a 2 bedroom that his company is paying for, but if he wants to buy it.....R50 million bucks. They are from Singapore though and have an apartment HDB in Singapore.

You can make a lot of money abroad compared to here.

US is also popular money wise, if you can get in. Europe doesnt pay you so well, sure it feels better, but not much better, unless youre like a banker.
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This sounds like unsolicited financial advice given to you at the gym by random guy who only had 60 seconds before his next set.
 
Tman* said:
This sounds like unsolicited financial advice given to you at the gym by random guy who only had 60 seconds before his next set.
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And posted by someone who appears to be on crack.
 
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cguy said:
Yeah, I expect that there is a much wider range for software engineers. R100k/y for Juniors, R1.2m/y for Seniors, R2-4m/y for remote senior, and even up to R20m/y when working overseas at Principal or so level.
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okay then I def need to get into tech. I actually chose Mech Eng over CS but I was 17 and had not worked in either so I didn't know what I know now. I actually think Mechatronics is the sweet spot, giving access to hard and soft engineering.
 
Corelli said:
To make income....move to Dubai and pay no tax. Or become a foreign consultant ie HR. Work in the oil industry.

If youre still starting up, look up the job specs of a PIPE ENGINEER. Yip you may be laughing now but they are very popular yet rare and they design and build all the pipe systems for gas and oil. They make a fortune.

But honestly, you want to be in Dubai or Qatar where you pay no income tax. Hong Kong isnt bad. In finance its Singapore, but only goto Singapore or Hong Kong if you're single.

Singapore ironically is CHEAPER and NICER than Hong Kong.

10 million for an 16 square meter bachelor flat in Hong Kong is the norm. My friend is renting a 2 bedroom that his company is paying for, but if he wants to buy it.....R50 million bucks. They are from Singapore though and have an apartment HDB in Singapore.

You can make a lot of money abroad compared to here.

US is also popular money wise, if you can get in. Europe doesnt pay you so well, sure it feels better, but not much better, unless youre like a banker.
Click to expand...

Not in tech or IT you have 300 Indian dudes willing to work for AED2000 a month. You pay in other ways in Dubai it is expensive.
 

are virtual assistants a thing in SA? or just places with strong currencies?
 
ronz91 said:

are virtual assistants a thing in SA? or just places with strong currencies?
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I do wonder to what extent side hustles tend to be get a rich quick (or “a steady stream of passive i come”) scheme or wishful thinking.

I‘m sure that this isn’t always the case, but for those that are attempting one or being asked to invest or join one, a really important question, is “Why? What was happening with your career?”. Point being that choosing side hustle because you hate your job (and likely a sequence of them), and are looking for an exit strategy doesn’t bode well for success. Specifically, are same issues at your job going to follow you into your own business?

Following a passion or an idea you can’t let go of, while similarly having a healthy career is way better. And if things go well enough that the career gets dropped, then great - I would be sure that it would likely be a difficult, calculated decision vs someone who who toss away they career because “*uck that place.”
 
cguy said:
I do wonder to what extent side hustles tend to be get a rich quick (or “a steady stream of passive i come”) scheme or wishful thinking.

I‘m sure that this isn’t always the case, but for those that are attempting one or being asked to invest or join one, a really important question, is “Why? What was happening with your career?”. Point being that choosing side hustle because you hate your job (and likely a sequence of them), and are looking for an exit strategy doesn’t bode well for success. Specifically, are same issues at your job going to follow you into your own business?

Following a passion or an idea you can’t let go of, while similarly having a healthy career is way better. And if things go well enough that the career gets dropped, then great - I would be sure that it would likely be a difficult, calculated decision vs someone who who toss away they career because “*uck that place.”
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so as far as I understood there, you are questioning whether most side hustles are get-rich-quick schemes or actually following a passion?
 
ronz91 said:
so as far as I understood there, you are questioning whether most side hustles are get-rich-quick schemes or actually following a passion?
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I’m sure that there are both. What I am saying is that sometimes the impetus to start a side hustle is genuine interest, and sometimes it’s a reaction to one’s career trajectory/choices. When assessing them (either to self assess myself or a potential business deal), looking at this motivation gives you a good indicator on the likelihood of success.

To be more concrete, if you’re a successful director at a tech company and you decide to build a hustle making android games because you’re a game nut, that’s great. If you’re a job hopping dev who keeps getting into more and more toxic companies, and now wants out, it’s probably not going to work out
 
sorry its been a while since I posted on this thread.

I am back coz I am reading a great book (see pic below) on skill acquisition that I think will help anyone wanting PD-personal dev and/or FI-financial indep.
Anything new you want to learn to help with PD and FI will likely require attaining new skills.

1731498457013.png

Josh lays out a simple framework for skill acquisition and then uses this framework to attain new skills.
He also did an accompanying TED talk on this topic:

If you decide to check it out, I hope you find it valueable.
 
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