Update from the wilderness!

Discussion in 'Challenge Life' started by Legacy1985, Aug 6, 2014.

  1. Legacy1985

    Legacy1985 Member

    "ORIGINAL POST LAST YEAR"

    Hi All,

    I am new to this forum and wanted to treat this thread as a blank canvas.

    I am heading to the USA for a holiday (2 weeks) in two weeks time and I wanted to make sure that the second I touch back down in Aus, I am ready to hit the ground running.

    A bit of background:

    Age: 27
    Salary: 75k / year
    Job: Legal / Compliance
    University education: Bachelor of Business (Economics) & Bachelor of Laws
    WAM: Approximately 79% for Business and 73% for Law.
    Post-graduate education: Legal Prac Course (admitted as solicitor) and CFA Level 1 exam passed.
    Body Type: Obese. 6'2", 102.1kgs.
    Debt: 8,000
    Assets (Shares): 20,000.
    Work experience: 1.5 years at Regulator, 1 year at a bank.

    Okay, all the above is history. I would describe everything above as being comfortable. There were very few challenges in getting to 27 years hence why I have now sought out this forum.

    I have already created some goals below that I will start (some continue) on 2nd September 2013.

    Here is a prelim list of goals that I want to try and achieve by the end of September and how this relates to broader goals.

    - Finish Video's for CFA Level 2 - I have 48 videos of approximately 1 hr each to watch before the end of September. The Chartered Financial Analyst Program will fill in the finance gap on my resume. This will allow me to have relevant tertiary education for almost any job in legal, finance or business. I find the program challenging and prestigious. I will be aiming to do 400 hours in total by the exam (June 2014).

    - Construct a savings plan while in the States and strictly adhere to it.

    - Create a photo book of the States trip.

    - Add two bottles of whisky (duty free) to my collection.

    - Aim to be at 100 kgs (this will require a month of very intense exercise to start off.

    - Head to boxing classes after work (1 / week). I really love watching UFC and so there is a little motivation to understand the art better... however the majority of motivation comes from being insecure and trying to get more comfortable in myself. I would derive a great deal of confidence from thinking I could better defend myself.

    - Discuss opportunities for secondments with mentor and current team. I don't like my current job at all and have identified a team that I would like to work in. I have no relevant experience to get into this team. It is also an incredibly tough period to find a job. Furthermore, the team has just been restructured and roles cut. This is a huge challenge to get into this team.

    These are all the goals I can think of at the moment. I am using the trip to add to this list and will come up with some longer term goals as well."

    Okay, here are the new stats:

    Age: 28
    Salary: 85k base (was 90k) / year
    Job: Banker (was Legal / Compliance)
    University education: Bachelor of Business (Economics) & Bachelor of Laws
    Post-graduate education: Legal Prac Course (admitted as solicitor) and CFA Level 2 exam passed (previously level 1).
    Body Type: Obese. 6'2", 104kgs (102.1kgs previously).
    Debt: 4,000 (previously 8,000) (I was debt free for a period there but have splurged recently)
    Assets (Shares): 40,000.
    Work experience: 1.5 years at Regulator, 2 year at a bank.

    So where are things currently at?

    - Whiskey collection is flourishing;
    - Got that job I was chasing;
    - Passed level 2 of the CFA;
    - Failed to lose weight (actually put on 2 kgs);
    - Failed to pursue piano with any vigor;
    - Saved some money but no where near as strict as I could have been, have been splurging way too much.

    All in all, things really have gone well. A huge year. I still feel like I am not performing at my potential though and I fail at a lot of things. But slowly and surely I will fail my way to the finish line.

    Goals for the next 6 months?

    1. Perform in new role
    2. Learn ‘All I Ask of You’ for piano and be able to play properly. Sharpen up ‘Legends of the Fall’. Learn ‘A Whole New World’.
    3. Drop down to 90 kilograms.
    4. Save $11,000 towards investments (so 51k saved).
    5. Find a regular haircut that suits. Yay! Long overdue!
    8. Propose to GF.
    9. Have all data collected for a private project
    10. Build a model of a house i'd like to live in when i retire
    11. Sign up for CFA level 3
    12. Design laptop desktop with goals. Picture representation of goals.
    13. Start putting money in emergency fund. Circa $500 by end of year.
     
  2. Rico_Suave

    Rico_Suave Member

    WOW legacy. Such great progress you have made! Congratz! This is proud moment for us as Success Vibe family. Fail your way to the top!
     
  3. successvibe

    successvibe Administrator Staff Member

    Hey stranger, glad to see you have been making progress and getting results.

    So what have you learned so far from your "failing"?
     
  4. Legacy1985

    Legacy1985 Member

    Financial goals for second half of 2014.

    Goals - This is a further break down of the $11,000 above.

    Debt (current):

    - Student loans @ 2.1% (oustanding balance only indexed in June next year) - $56,000 - reduce by $2000.
    - Margin loan @ 7% (tax deductible though) - $17,117 - Reduce by $4000.
    - Credit card @ 9% - $4,150 - Reduce to $0.

    Savings (current):

    Emergency fund: $20 - goal is $1500 at end of year.
    Holiday account: aiming to put in $100 per fortnight.
    Luxury account: aiming to put $20 - $50 per fortnight.
    Ring account: not sure on this one, perhaps get a loan of parents are reduced interest rate cost.

    I have been quite financially irresponsible (perhaps basing my decisions on future earnings too much) and need to get back to being frugal.

    Hopefully I get some sort of token bonus this year which will further help to reduce debt or increase savings.
     
  5. Legacy1985

    Legacy1985 Member

    What I have learned so far?

    - I still feel like I am running on natural ability too much and need to get more into the 'hard work' side of things. I feel like I am lazy. I don't know how to correct this. I feel like time is running out to achieve my goals.

    - On the flip side, I feel like I will achieve all the goals in this 6 month period. Even though they are hard ie. lose 12 kilos in 4 months, for some reason I have complete confidence in achieving them.

    - I feel like if anything, my mindset has changed a lot more than my work ethic hasn't.

    - I have this image of a clean cut, in shape, all-together guy that is respected. I feel like I can become this person.

    - I feel like I fail at most of my goals. E.g. I only managed 280 hours study whereas my goal was 400 hours.

    - I don't see the harm in failing and I think it can be used as leverage. I.e. I got down on myself for only making 280 hours and for the next level I should be able springboard off this failure and know how to improve it next time.

    - I still feel really old and behind my cohort. I feel like I am four years behind where I should be.

    Enough about feelings, what have I learned?

    I think the only thing I have learned is to be assertive!

    THINK ABOUT THINGS LOGICALLY!

    E.g. When thinking about asking a random stranger in the Company to coffee (for networking purposes), if you mind starts going, "Oh he'll/ she'll probably say no anyway", tell your mind to shut the **** up. That kind of limiting thinking is not only irrational but useless! I have had 23 separate coffees with strangers in the business and not one has turned me down.

    Another thought, EXPECT NOTHING. Everyone has their own things going on but you can still appeal to peoples human senses. I found that people really appreciated me asking for advice and being honest. STOP BEING SO GUARDED.

    If someone rejects your coffee invite, who gives a ****.

    ALWAYS REMEMBER - You have NEVER exhausted all your options.
     
  6. Legacy1985

    Legacy1985 Member

    Day 2

    Hi everyone, it feels good to be back into my goals. This is only day 2 and obviously the motivation is high at the moment. I am really excited about my financial goals at the moment and just wish time would pass to my next pay so i can reduce some debt. I know this is a bad way to think as I want to still enjoy each and every day. I am particularly looking forward to next Monday when I will reduce the credit card by $500, put $100 in my emergency fund, $50 in the ring account, $50 in the holiday account, and $50 in the luxury account. Then on Thursday I will pay down $500 from student loans, $500 from margin loan, and $500 from credit card. I am really warming up to the idea of a passive income as opposed to my very debt heavy portfolio at the moment! I am at a stage now where I am transitioning my equity portfolio to a better diversified high yield portfolio. Next share purchase will be looking at a high yield ETF. I need to start locking up the budget wherever I can. I am also prepping myself for the new role that I start next week. I am aiming to work from 8:00AM until 7:00PM for the first few weeks so I can find my feet and really impress in the role. This is the first step in relevant experience for my career being a banker. I have 12 months (ideally less) to impress and land the next role. Exciting times but also nervous times. I still feel like I should be further ahead at my age (28).

    Goals for Day 2:

    - design body transformation excel document so I can take a monthly photo of my body (next photo added is 11 September 2014).
    - add questions to Project.
    - gym then walk home.
    - work a normal day.
    - eat healthy.
    - be frugal.
    - ensure video editing program works.
     
  7. peakscaler

    peakscaler New Member

    Hi Legacy, you seem really focused, looks like you've got the financial side of things nailed down. What's your workout like just out of interest?
     
  8. Legacy1985

    Legacy1985 Member

    Day 3

    Peak scaler - What does your name refer to? Do you climb peaks (i.e. mountains)? I have always been interested in that.

    In relation to my gym workout (assuming I can maintain actually going, which I feel I can) it would look a little something like this:

    3 * week: cardio (light intensity i.e. 9km / hour) for 40 minutes.
    2/3* week: weights (generally 3 body parts per session with a mate. 4 * 8-10 reps per exercise).

    The main challenge is going, the results generally come easily if i can maintain the above.

    In relation to yesterday's goals. It was an okay day. I didn't walk home because it was raining, but I did eat healthy and go to the gym. I added questions to Project and I designed excel document. I worked a normal day. I didn't manage to get the video editing program working.

    Day 3 Goals:

    - ensure video editing program works.
    - 40 minutes on treadmill at gym then walk home.
    - save body transformation document on desktop.
    - work a normal day.
    - eat healthy.
    - reread new job strategy guide.
     
  9. peakscaler

    peakscaler New Member

    I had metaphorical peaks in mind when I chose that name lol ;)

    If I were you I'd try running faster but for a shorter amount of time. Evidence is piling up that that is a more effective way to reduce fat especially around the midriff, and is also good for retaining muscle compared with long distance running. Plus it saves you time! Check this article on the topic:

    http://www.bodybuilding.com/fun/cardio_for_fat_loss.htm
     
  10. Legacy1985

    Legacy1985 Member

    Day5

    Day 5... the days really seem to evaporate when you start getting into it!

    Things have been okay, eating okay, not blowing too much money unnecessarily. Looking forward to the weekend and relaxing.

    Goals for day 5:

    - work a normal day
    - eat healthy
    - unlock video editing program
    - clean bathroom, kitchen, living room and put washing on
    - light intensity cardio then walk home
    - save down documents
    - have a play with video editing program if unlocked

    Another action packed day. Really looking forward to the end of the year when a large amount of these goals come to fruition. I always want to get more of a passive income starting to build up!
     
  11. Legacy1985

    Legacy1985 Member

    Day 7

    Everything is going okay.

    I start the new job tomorrow and am pretty nervous as I write this. Going to have to meet plenty of new people and get out of my comfort zone. Need to stay focussed.

    Goals for tomorrow (day 8):

    - Walk to work.
    - Shower and dress at work.
    - Be sitting at desk by 7:45AM.
    - Read manual for new job.
    - Meeting at 8:30AM to meet the team.
    - Work a longer day until 7:00PM.
    - Eat healthy throughout the whole day.
    - Gym after work. At least 30 minutes on treadmill to de-stress. Just listen to music and appreciate that we are one day down in the new role.
    - Healthy dinner.
    - Relax.
     
  12. Legacy1985

    Legacy1985 Member

    Day 9 - New experience has started.

    Day 9 - I looked in the mirror this morning and was very disappointed with my appearance.I feel that I look very sloppy and need to fix this. I need to tighten everything up. If I am to make the next step in my career, I need to look the part. Day 9 feels like a reality check. I have not realy progressed very far and need to apply pressure each and every day. No time for being comfotable.

    Goals for day 9
    - Walk to work
    - Work an extended day 8:30 - 6:30.Keep the head down. Continue trying to learn.
    - Eat healthy
    - Be frugal
    - Run 35 minutes at gym (clear the noise)
    - Walk home.
    - Update resume with new role.
    - Save emails from personal address to desktop.
     
  13. Legacy1985

    Legacy1985 Member

    Day 10

    Goals for day 10
    - Work an extended day 8:30 - 6:30. Keep the head down. Continue trying to learn.
    - Eat healthy
    - Be frugal
    - Update resume with new role.
    - Save emails from personal address to desktop.
    - Mentally prep for a big day Friday with a big gym session.
     
  14. Legacy1985

    Legacy1985 Member

    Day 11

    Day 10 was fine. I didn't complete all the requisite tasks but let's try again today.

    Day 11
    - Work an extended day.
    - Run 35 minutes at speed 10.
    - Save emails from personal address to desktop.
    - Eat healthy.
    - Be frugal.
    - Put washing on.
    - Clean bathroom.
    - Iron shirts.

    Let's wrap up week 1 successfully.
     
  15. Legacy1985

    Legacy1985 Member

    Update from the Wilderness! I have referenced my original post below:

    Hi All,

    I am new to this forum and wanted to treat this thread as a blank canvas.

    I am heading to the USA for a holiday (2 weeks) in two weeks time and I wanted to make sure that the second I touch back down in Aus, I am ready to hit the ground running.

    A bit of background:

    Age: 27 - now 31.
    Salary: 75k / year - 150.5k (inclusive of super) + 20.0% bonus.
    Job: Legal / Compliance - Banking.
    University education: Bachelor of Business (Economics) & Bachelor of Laws
    WAM: Approximately 79% for Business and 73% for Law.
    Post-graduate education: Legal Prac Course (admitted as solicitor) and CFA Level 2 exam passed.
    Body Type: Obese. 6'2", 102.1kgs.
    Debt: 8,000 - $1.5m (houses)
    Assets (Shares): 20,000. - $1.92m (houses)
    Work experience: 1.5 years at Regulator, 4 year at a bank, 1.5yrs investment manager.

    Married.

    Two kids.
     

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