Yahoo News ‘I’m 61 and earn £75,000 – I ditched my dreams of being a pop star when it paid peanuts’
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I left school at 18. I was a musician and had some vague dream of becoming a rich and famous pop star, but no real idea about how I would pull that off.
I played in a few dead-end bands and then stumbled into a band that did OK in the early 1980s. We travelled around Britain, Europe and North America, and put a few records out before it folded.
When you’re in a band, you’re the last person to get your hands on the money. Your agent, your manager, your record company, publisher, PR person all get there first. If you’re lucky, you’re left with your cab fare home.
I realised I’d be better off jumping over to the other side of the counter, so to speak. I did some tour managing, taking bands on the road around Britain and Europe, and then progressed to being a manager, music publisher and record company executive for a major label.
By the mid 90s, I’d had enough and, almost by accident, ended up working for a company producing music videos. By the early 2000s, of course, the game was up, so I started an agency representing below-the-line crew, such as cinematographers, art directors, editors and so on. I haven’t looked back since.
Income-wise, I’ve earned reasonably big bucks at certain times and peanuts at other times. I don’t think I was ever that motivated by money, but as I’ve got older and now have children, I’ve taken it more seriously.
Most of my life, I’ve been self-employed, and I like the freedom as well as the security it offers. I can’t be fired from my own business, but the flip side is that like anyone running an SME, it’s all a balancing act and I have the same occasional worries about balancing the books as everyone else.
I’ve been married and divorced twice, and the financial hit from a divorce is always worse than you think it’s going to be. I live alone now, but my two teenage kids are with me around half of the time. I have a girlfriend, but we don’t live together.
I think I live pretty modestly, but I guess that’s all relative and a matter of opinion. I own the business and am able to claim certain amounts of travelling, subsistence and entertainment.
Vital Statistics:
Age: 61
Pre-tax annual salary: £75,000
Rent: £1,600 per month on a three-bed flat
Utilities and insurance: £600
Day 1
I woke up at my girlfriend’s house and had breakfast there, before driving the few miles home.
Monday is a WFH day, and I called in at a local baker for a loaf of bread, at £3.20. Later, I visited Waitrose where I spent £34.05 on coffee, cereals, pre-packed salad, shower gel, toothpaste, mouthwash and cider.
I’m not a bulk shopper. I tend to be more of an as-and-when merchant.
Total: £37.25
Day 2
Off to the office in London by train. I’m getting a little tired of it, but I do need to show up in the office twice a week. My train fare came to £49.55, with my tube fares an additional £6.20. I live on the south coast now, but used to live in London until around 15 years ago. I don’t for one second regret moving away.
As for food, my coffee, snack and lunchtime baguette from Pret were £12.35. All expensed, as my company pays. Then it’s back home on the train, and straight to my girlfriend’s house.
Total: £0
Day 3
Another WFH day. As a divorcee with two teenage kids, I get them Wednesday nights and alternate weekends – so a quick visit to the Co-op was needed. I spent £33.50 on some pasta, pasta sauce, chicken, salad and drinks, plus a box of tea bags, loo rolls and Mr Kipling cakes for the kids.
Total: £33.50
Day 4
Back to London for a day in the office. As per usual, £49.55 on the train fare, £6.20 on tubes,
and this time my (expensed) coffee, snack and lunch at Pret was £12.65.
I also had to buy some bottled water for the office (£6.70), which I expensed.
In the evening I took some of the staff out for our usual post-work Thursday drinks at a local bar, with a bill of £63.67 – again, expensed. On the way home I stopped at Marks & Spencer for a mini bottle of wine and a sandwich for the journey (£9).
An Uber (expensed) from the station to my home was £10.63.
Total: £9
Day 5
A WFH day, and I have my kids this weekend, so I went out to the butchers for some chicken, eggs and veg, for £19.83, followed by £3.20 at the baker.
Then I went to the Co-op for olive oil, cheese, milk, ham, Sprite, biscuits etc (£22.25). However, one of my kids showed up with two of her friends, and they wanted fish and chips from the local chippy – that came to £23.70.
Total: £68.98
Day 6
An inevitable trip to the local shopping centre with my daughters, where I spent £14.96 at Boots, bought school stuff from WHSmith (£31.26), and some tat from H&M (£6.98), before getting food from McDonalds for £12.05.
To be frank, I think I got off quite lightly, compared to previous trips to shops. For me, I bought some bread and a beer from the Co-Op (£4.85).
Total spend £70.10
Day 7
I like to cook dinner for my kids on the weekends I have them, and my girlfriend was also with us this evening. I bought ingredients from Waitrose, which included a leg of lamb, potatoes, vegetables, dessert for the kids, and wine, as well as some regular products like milk, soap powder, coffee, and tea.
Total: £128.15
Weekly total: £346.98
