When I lived in the UK before starting my own business, I was earning £130k in 2015-16 in my mid 30s. With a wife and two kids, it honestly felt like we were treading water. There wasn’t enough left over to really get ahead.
I’d say around £150k today is where you can live comfortably, save, invest and still enjoy life. At 23 and on £50k, you’re doing exceptionally well. It just shows how much the cost of living has changed.
@SartorialShootr I live Downtown and go to Champs everyday usually around 6am and then in the evening I take the kids around 8pm and yes for sure the same it’s always packed. I agree the Dubai is empty posts are BS
Beautiful story. Wrong lesson.
The uncle turned the equivalent of ~$140 into $47,000 over his lifetime.
The nephew turned $47,000 into… a few one-off expenses and a feel-good Facebook post.
That’s not multiplication.
That’s liquidation.
If he had honoured the actual spirit of the gift, he would’ve built himself into a stronger position first, then used the growth to help more people, for longer, and at a bigger scale.
For example:
•At 10% annual growth for 10 years, $47,000 becomes about $121,900
•That’s an increase of roughly 159%
•Meaning he could have potentially helped 2–3x more people, with far more permanence and scale
His uncle was handed a lifeline and turned it into a legacy.
The nephew was handed a legacy and turned it into a moment.