I think i've decided to become an Accountant!

C

CGorman2004

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Warning! Please retain an open mind when reading this, please read all of the text, I know its long!
Hey all! I posted topic a two months ago. I've since done a lot of thinking about my future and the many many options open to me. I've learnt an incrediable amount about these various options, and even reading back over your replies to my topic - the answers are far clearer in my mind. Anyways heres my plan:

1) Finish Leaving Cert (age: 17)
2) Do either the the [broken link removed] or [broken link removed] at the Quinn School of Business, UCD. (I was at the open day on tuesday, the moderness of the business section was very impressive.) (age: 21)
3) Become an [broken link removed] qualified accountant (theres up to 8 exemptions from the 14 exam parts for business degree holders + twice yearly exams), complete 3yrs as trainee accountant on 18k a year. (age: 24)
4) Work as accountant/business analyst for 4-5 years (salery staring from €35k moving up to possible €60k+ depending on job.) Possibly do MBA during this period. (age: 28/29)
5) Leave employment to set up own company.

This (basic plan) would allow me to aquire a very broad range of business knowlege and experiences, give me many good contacts within the financial services industry, time to properly plan future business ventures, accumulate decent amount of savings and a good borrowing record and hopefully also a decent reputation.

Now just to state a few things that may not be clear:
-> By saying ''my own business'' I don't mean an accounting practice - its probably going to be in a completely different area (possibly a form of retail, advertising, transportation or whatever offers the best opportunity at the time - i've a catalogue of business ideas and innovations i've come up with over the years).
-> As i've said before im not solely motivated by money - but it certainly helps.
-> I do not intend to spend my entire life running ''my business,'' possibly 4/5 years - enough to get it up and running - I'd much prefer to be a serial entrepreneur who retains a large stake in companies, but hands over control to professional managers.
-> I'd possibly be heavily involved with property development.
-> Althought i'd go ahead with a project alone if need be, i'd prefer to include partners to avoid making rash moves.

Anyways my question, Is this a realistic plan? I welcome you to pick holes in it, better to find them now than 2yrs into a degree.
 
I'd put in a gap-year for travelling. If you don't, you'll regret it later.

Whose going to pay for the MBA? It's 20k a year? If you pay, what will your partner/kids say? If your employer pays, they'll probably expect you to work for them for 2/3 yrs after graduation.

Remember to have some fun because, afterall, if you make it to the top of the rat race, you're still a rat :b
 
The MBA is really only a slight possiblity - if the job is going well and the employer offers to sponsor it, then i'd take the chance even if I had to commit to 3/4 yrs.

Remember to have some fun - i'm well able to have fun! The above is purely an acedemic/financial/career plan, trust me - i'll definately enjoy myself! I'll probably take a few months out to see Europe, but not a year. Im not from an upper class background - but certainly not a poor background either, my dads an electrician and my mum likes travel, so we've had many holidays abroad - New York, Florida, Rome, Paris, London, Nice, Barcelona - so im pretty well traveled already. (Althought I know what you mean; travel at age 20 with a few mates to ''discover myself'' would be a completely different experience!)

You mention a partner - I know someone would raise this point! Love is something you have to be prepared to give up everything for, I realise that - but hopefully I can have both worlds - family and career... im sure i'll all was make it clear to partners what my dreams and abitions are, so hopefully they will not mind. As for kids, well many people leave it till late twenties early thrirties now, so theres not too much troublem there.

Oh and I know im only 16 and therfore have no idea of how life can change just like that, but theres no harm in at least trying to plan for the future.

Thanks for the points though.
 
Fair play to you - for a 16 year old you seem very focused and organised. Certainly more than I was at your age anyway! Good luck with the plans.
 
"Best of luck with your career and keep me in mind if you do as well as Denis O'Brien"

Me thinks the contribution towards my nursing home fee is lookin' better by the minute! :)
 
"...Denis O'Brien" Business, Accounting or Commerce Degree

Denis O'Brien... don't know bout him, all those messy legal affairs ain't good... i'd prefer to be more like Sean Quinn, my local Michael O'Leary or Richard Branson... whilst thinking of legal matters - maybe the BBLS would be very, very useful!

Anyways as much as I absolutely love being complemented and patted on the back - I hav'nt succeeded in doing very much yet (apart from my 8 A's JC!), so i'd really like to see you all poke a few holes in my grand plan!

Best of luck with your career and keep me in mind if you do as well as..

On a serious note my ultimate aim is to make massive fortune by age 55/60 and then give it all away; 1) i'd like to invest a lot of it in african infastructure (in the more stable areas) and the african economy in general, 2) I would love to build a 50m Swimming Pool for my club in my hometown, 3) and most importantly - this is my life long ambition - provide a luxurious retirement for sueellen!

Oh, by the way did anybody here actually do the BBLS or BComm at UCD or similier courses at UL or DCU (my 2nd and 3rd choices)? I'd love to hear about your experiences of the course.
 
Only someone from the Midlands could be as smart as this! :) :)

I agree with the earlier poster though. With this amount of cop-on and savvy, you should try and start a litlte business now - even as a side line. You'll learn loads and you might get your fortune off to a flying start.

Rebecca

PS Always on the lookout for a toyboy, particularly where early investment could pay off! (Ohmygod! I'm turning into a dirty old woman on a money website, where did it all go wrong!)
 
start a litlte business now - even as a side line.

Well I intend to finish college, but then i'm prepared to jump ship (pack in the job, put the acc exams to the side) as soon as I see a worthwhile chance/have sufficent resources. It would be very convient though to have a BBLS/BComm as a safety net.

Like you said I could always have a sideline - I love writing - I could do freelance journalism in college, gain online ad revenue from a blog or topical website... or even a fourm on money in Ireland! Theres lots of things I could do whilst in college or work.

Oh - and I would'nt say everyone in the midlands is particularly smart! I love my town and county and I know lots of great people here... but theres quite a few who are, well, as thick as a plank!
 
"and most importantly - this is my life long ambition - provide a luxurious retirement for sueellen!"

Shucks, I bet ya he's good lookin' as well! ;)
 
Just out of curiousity, why have you decided to set up your own company? What is this going to do for you?
 
why have you decided to set up your own company?

Don't quite follow you, I thought I made it fairly clear already that I always wanted to be an entreprenuer - im just that sort of person - its my character.
 
I'm just interested in why you want this - You say it's not for the money, but what is it for? What about running your own company will give you a buzz?

Don't forget about the need to buy a house somewhere along the line. It's fairly challenging to build up a nest-egg of savings for your business while trying to get onto the property ladder.
 
You mention a partner - I know someone would raise this point! Love is something you have to be prepared to give up everything for, I realise that - but hopefully I can have both worlds - family and career... im sure i'll all was make it clear to partners what my dreams and abitions are, so hopefully they will not mind. As for kids, well many people leave it till late twenties early thrirties now, so theres not too much troublem there.

Don't worry - this is all academic. You know the old joke - what do beancounters use for contraception? Their personality.

Sorry - only joking and couldn't resist!

If it's any consolation I'd probably be described as a geek. 8o
 
company will give you a buzz?

Thats part of the reason yes - the challenge.
 
Thats part of the reason yes - the challenge
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And what makes you think you won't get challenged while working for someone else?

I'm not being argumentative here - I'm genuinely trying to make sure you have really thought this through.
 
And what makes you think you won't get challenged while working for someone else?

True, but (even though I said money is not the sole motivator) there would be a better payoff in overcoming the challenges

I'm genuinely trying to make sure you have really thought this through.

Trust me I have - i've wanted to be a businessman/entrepreneur since age 9... and i've reconsidered my postion many times over the years - but have never wanted anything else! I KNOW for sure I want to be an entrepreur!

Besides the thing about doing the BBLS and ACCA exams means I will always have a safety net to save me if I change my mind!

I'm not being argumentative here -
Maybe not, but it seems like it... your username rainyday seems very apt!
 
Re: Re: I think i've decided to become an Accountant!

Whatever about the different writing styles of different contributors here on AAM there is no harm in contributors making challenging contributions or questioning the logic of those made by others. Some people can be more direct than others in this respect. Going on what you've posted so far I am sure that you're well able to handle such contributions and are open to constructive suggestions. And to think that at your age I was spending significant amounts of my spare time out drinking flagons and getting up to (relatively innocuous) no good. Maybe some people do that later rather than earlier in life! :)
 
Re: Re: I think i've decided to become an Accountant!

True, but (even though I said money is not the sole motivator) there would be a better payoff in overcoming the challenges
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Maybe the payoff would be better, but maybe it would be worse. Get yourself up to a senior level in a decently sized organisation and you'll find yourself getting a very good payoff with far less risk than a business owner will experience.

Trust me I have - i've wanted to be a businessman/entrepreneur since age 9... and i've reconsidered my postion many times over the years - but have never wanted anything else! I KNOW for sure I want to be an entrepreur!
Click to expand...
Delighted to hear it - though I have to challenge you again and say you haven't communicated any clear reason for your objective. For the record, I always wanted to be an accountant until I caught the IT bug somewhere around 16/17.
 
Re: Re: I think i've decided to become an Accountant!

I caught the IT bug

Unfortunate turn of phrase but I think I know what you mean! :)
 
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