LPT Request: How do I, as a 32 y/o, invest/develop myself for a better financial future?

Submitted by sea_salts_ t3_yderk8 in LifeProTips

Hi,

I am asking how do I best invest myself in improving my financial prospects/life if I look to the long term. I am 32, I work and don't really get much more than the minimum wage. (UK) Enough to live on, right now at least. I've had some changes in life over the last year where it has rendered me financially independent, and made me re-evaluate my relationship with money. I would like to see a potential where I don't just work, but develop so after ten years I can start a career. My current job is not highly skilled and not in any sense, a career, as it's retail.

​

I am interested in a mortgage, as a single person, again lately there have been some opportunities where I am just under the cut for my own flat, and even if I make the cut, I would like some security.

​

I have been looking at job ads for a second job, if it's zero hours I can work with that in contrast to my current job. Studying? I would not know what to study, I think this is the biggest part of my question. I did not take higher education. I left secondary school, fumbled a bit in life, and then got my first job at 24, which I'm still at now. I would like to study, is there any advice on what are good career prospects? I think I am willing to learn anything and invest if I am slightly confident with it.

5

Comments

You must log in or register to comment.

keepthetips t1_itrp5p7 wrote

Hello and welcome to r/LifeProTips!

Please help us decide if this post is a good fit for the subreddit by up or downvoting this comment.

If you think that this is great advice to improve your life, please upvote. If you think this doesn't help you in any way, please downvote. If you don't care, leave it for the others to decide.

1

lollersauce914 t1_itrpqis wrote

I mean, the first step is to find a career.

The first step to doing that is to figure out what you might like. The best way to do this is to talk to people who work in roles you think sound interesting. You would be surprised how many people are willing to take a half hour to talk with you about their job if you just cold email them. That said, people you know are much more likely to say yes.

A lot of these conversations will also come with various recommendations for you to pursue and may even directly lead to a job opportunity. This kind of networking is the key to finding a good job.

1

sea_salts_ OP t1_itrtrkt wrote

Thank you for the response, I have realised the last few years how important knowing people, and engaging in more than small talk, is already a networking starting point. I spent my early 20's crippled by anxiety to leave the house where, and only now do I understand that, by just approaching people and creating relationships, creates potential for opportunities.

​

Thank you for the advice for talking to people who work in certain roles, I haven't really thought about this one.

1

phwe9774 t1_itrsjld wrote

The first thing you should do is invest in yourself, you don't have to wait 10 years to start a career. Go back to school or learn a trade. Learn a skill that will allow you to earn more money.

After you start earning more money, start a savings account. Ideally, you'll have 3-6 months of expenses saved up. After that, you can really start investing in your future. I don't know if employers in the UK have retirement accounts like a 401k but that's an easy place to start and it's potentially free money. You can also do self funded investment accounts

1

sea_salts_ OP t1_itru236 wrote

I think my sense of lack of direction is not knowing what skill to pick up/learn. A good one to start research on tonight, which I will get on to.

​

I do have some savings already, single and not having many hobbies and only recently becoming financially independent, I managed to save a small bit.

​

Thank you for the response.

1

Jaded-Moose983 t1_itrtk24 wrote

The options are endless if you are looking at every possibility. Start to narrow down where your interests, skills, and desires overlap. Office work? Fixing things? Operating heavy equipment? Working with animals? Working with kids?

As you are able to narrow down your choices, look for internships or apprenticeships.

Don't be afraid to try something and then decide to move on to something else if you're not happy. Sick it out long enough to really give it a chance since learning a new skill is often overwhelming. The job I loved the most required a specialized skill set that ultimately took close to two years to get proficient at.

1

sea_salts_ OP t1_itrum9o wrote

I am genuinely interested in going for something whole-heartedly if I am confident I can become proficient at it. My interests/hobbies would absolutely lean towards anything computer related. I spend all my free time on mine, mostly video gaming. I am computer literate but computer problems are genuinely passed onto someone more fluent in the tech.

​

I am not sure, coding as a career has received a lot of positive feedback in the last few years, and I do think it can be taught if time allows?

Thank you for the response.

2

Jaded-Moose983 t1_itrylbm wrote

So that narrows it down. You can learn coding online as a way to bootstrap a coding degree. Here in the US, IT entry level jobs can be had with the equivalent to a 2 year degree.

Inventory your current skills and see what is the base you have. Can you teach someone how to install and run a program? Can you solve network connection issues? Connect devices to smart devices? Once you show yourself what you already know, look for entry level opportunities to use those skills.

Schools are often in need of computer assistance and while it's not fancy networking (at least at a primary school level) it is a way to get started and spend night school enhancing your skills.

You don't need to know 100% of what is expected in a job to be qualified for the job. Just have the ability to learn and apply knowledge.

Once you have a starter job in your area of interest, all questions and learn what the growth path is. Learn the skills you need for the next level while working at the current level.

1

CollinUrshit t1_itt91ja wrote

Follow “the Money Guys” on YouTube. Very simple, basic financial content and strategy. It will work. They get into complicated subject but you’re at the basics, emergency fund, 401k match… go from there

1

Money_Maketh_Man t1_itteozu wrote

one potential possibility is to reach out to your manage what skillset you need to move up. offcause it depends on the what type of job you have. But i have successfully in 2 companies received a response with getting certain certificates and I would get a pay boost.

1