UK Investor | Software Engineer🧑‍💻 | Discord: devdenzo
Joined November 2019
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Yes the UK sucks and yes the government keeps making things worse and worse
BUT the Stocks and Shares ISA is one of the best things you can get involved in
One of the only things the government has got right
Althought Man City are facing all these charges, what they achieved on the pitch shouldn’t be taken away from them imo
Look at Spurs, we spent 200mil+ but still 20th 🤣
At which point do I say fuck it and become a software developer mentor or a investing mentor 🤔
I know so many would pay for my knowledge / experience
A ÂŁ120k salary in the UK sounds like a lot.
But between income tax, NI and a Plan 2 student loan, the marginal deduction rate can be ~71%.
Earn an extra ÂŁ10k and you may keep only ~ÂŁ2.9k.
See the issue?
Then you may decide to have children.
Two children under two can mean roughly ÂŁ39k a year in nursery costs at full-time rates.
And once household income crosses ÂŁ100k, childcare support can become much harder to access.
As someone who has done a degree at a top 5 university in the world as well as a degree apprenticeship I can say it comes down to one thing
How much do you value socialising? Is it worth going into a lifetime of debt over?
2 in 5 (40%) of student loan payers also think a university degree is not worth accruing debt
Opinium Research said: "Our research shows that student loans are a major drag on many graduates’ career decisions, as well as their finances. A significant number of young people with student loans say they have turned down promotions, pay rises or better-paid jobs to avoid higher repayments, while many are clearly bewildered about how the system itself works. The polling also reflects a growing – although not yet overwhelming - scepticism about the value of higher education, relative to the level of debt graduates can expect to accumulate"
Imagine accepting a pay rise which comes with more responsibility, stress and probably going into office more which comes with extra costs just to pay more student loans that barely scratches the interest.
Not worth it unless the pay rise is ÂŁ30k or more.