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Sheikh Inal Ovar
Joined: 04 Dec 2005
Posts: 1208
Location: Melo Drama School
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 Posted: Fri May 09, 2008 3:54 am Post subject: Re: Savings |
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| lall wrote: |
In short: USD 200Kin 5 yrs.? From ESL? Nada! |
I disagree ...
There are many in the UAE, for example, who are earning over 16,000 Dh ($4,500 / month) .. which combined with the gratuity totals $58,500 + a year ...
For a single person or childless couple, it is still very possible to get by comfortably on $1,000/ month (inc all bills & car maintenance etc) leaving $8,500 a year for holidays and the like ..
That gives you $40,000 / year savings without even breaking into a sweat and taking the overtime route .. in 5 years you have your $200,000 plus the return on each year's invested $40,000 ... @ 10% > $240,000 +
If your spouse works as well (even in a second job capacity) and you invested the capital from the first few years into a very worthwhile venture, you can find yourself saving $60,000, $70,000, $80,000 + ... each year ... and no-one's shooting at you .. |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Fri May 09, 2008 4:12 am Post subject: Re: Savings |
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| Sheikh Inal Ovar wrote: |
| There are many in the UAE, for example, who are earning over 16,000 Dh ($4,500 / month) .. |
Definitely, but they are not newbies to the field with a degree in Lit, a Cert, and a couple years in Asia on the CV like our OP.
Those with MAs who have been in the field for many years could do it easily at the best employers.
VS |
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Sheikh Inal Ovar
Joined: 04 Dec 2005
Posts: 1208
Location: Melo Drama School
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| Posted: Fri May 09, 2008 8:49 am Post subject: |
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Interesting ... as that contradicts what you'd said a little earlier on this thread ...
| VS wrote: |
| You're in the wrong field... to make and save that kind of money. |
I hope our OP now realises, if he hadn't before, that those figures are easily manageable in TEFL ... |
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cmp45
Joined: 17 Aug 2004
Posts: 1475
Location: KSA
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| Posted: Fri May 09, 2008 9:49 am Post subject: |
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| Sheikh Inal Ovar wrote: |
I hope our OP now realises, if he hadn't before, that those figures are easily manageable in TEFL ... |
I would think not so easy to manage. However not entirely impossible either, if one maintains a strict budget and is on top of his/ her ESL profession.
It takes time to get to that level of income earning potential.
The reality of one's potential earnings is never so easy as figures on paper. |
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Sheikh Inal Ovar
Joined: 04 Dec 2005
Posts: 1208
Location: Melo Drama School
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| Posted: Fri May 09, 2008 11:45 am Post subject: |
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| Quote: |
| The reality of one's potential earnings is never so easy as figures on paper. |
Could you please try to be a little more condescending?
The figures that I go by are those in my accounts ... not some digits wishfully scribbled on the back of an envelope ... and I neither perceive myself as being on a strict budget nor did I perceive myself as being at the top of my profession ...
Of course, there are worse places to work and there are more expensive places to live .. but I am not alone in making the numbers above a reality ... and that is putting it modestly ..
We even have some new entries with just an MA and a few years post-MA experience who are hitting these numbers ... so with the right qualifications and the right environment, it is certainly 'not entirely impossible' that you can save $40,000 ...
And for people in the high-paying jobs - like CNA Qatar & BAE Saudi - these numbers are small potatoes .. |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Fri May 09, 2008 1:47 pm Post subject: |
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| Sheikh Inal Ovar wrote: |
| Could you please try to be a little more condescending? |
If he needs to know how, I'm sure that you are the perfect person to educate him. You are pretty much the leader of the pack in condescension...
Usually caused by your poor reading and comprehension skills. Do tell us about all the 25 years olds in the Gulf pulling in that pay. I'm sure you know just hundreds of them. And... that was the context of this thread...
VS |
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