Reader Case Research: Dutch Welder Desires of Working Overseas

Jamie lives within the Netherlands and lately accomplished his diploma as an all-around development employee, with coaching in welding. He’s presently switching jobs to develop into a full-time welder and has two job provides he’d like our assist deciding between. Moreover, he and his girlfriend dream of dwelling and dealing overseas some day. Jamie misplaced his father when he was simply 13 and has been working and serving to his mom financially since then. At simply 21 years previous, Jamie has extra perception, dedication and monetary savvy than most people twice his age. Be a part of me on a visit to the Netherlands as we assist Jamie chart a shiny future!

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Case Research tackle monetary and life dilemmas that readers of Frugalwoods ship in requesting recommendation. Then, we (that’d be me and YOU, expensive reader) learn via their scenario and supply recommendation, encouragement, perception and suggestions within the feedback part.

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The Objective Of Reader Case Research

Reader Case Research spotlight a various vary of economic conditions, ages, ethnicities, places, targets, careers, incomes, household compositions and extra!

The Case Research collection started in 2016 and, thus far, there’ve been 89 Case Research. I’ve featured of us with annual incomes starting from $17k to $200k+ and internet worths starting from -$300k to $2.9M+.

I’ve featured single, married, partnered, divorced, child-filled and child-free households. I’ve featured homosexual, straight, queer, bisexual and polyamorous folks. I’ve featured ladies, non-binary of us and males. I’ve featured transgender and cisgender folks. I’ve had cat folks and canine folks. I’ve featured of us from the US, Australia, Canada, England, South Africa, Spain, Finland, the Netherlands, Germany and France. I’ve featured folks with PhDs and folks with highschool diplomas. I’ve featured folks of their early 20’s and folks of their late 60’s. I’ve featured of us who reside on farms and people who reside in New York Metropolis.

Reader Case Research Pointers

I in all probability don’t have to say the next since you of us are the kindest, most well mannered commenters on the web, however please word that Frugalwoods is a judgement-free zone the place we endeavor to assist each other, not condemn.

There’s no room for rudeness right here. The aim is to create a supportive surroundings the place all of us acknowledge we’re human, we’re flawed, however we select to be right here collectively, workshopping our cash and our lives with optimistic, proactive options and concepts.

A disclaimer that I’m not a educated monetary skilled and I encourage folks to not make severe monetary choices primarily based solely on what one particular person on the web advises. 

I encourage everybody to do their very own analysis to find out the perfect plan of action for his or her funds. I’m not a monetary advisor and I’m not your monetary advisor.

With that I’ll let Jamie, at the moment’s Case Research topic, take it from right here!

Jamie’s Story

Hiya, Frugalwoods! My identify is Jamie, I’m 21 years previous and I reside within the Netherlands. I simply completed my MBO 3 diploma as an all-around development employee, with coaching in welding and am presently switching jobs to develop into a full-time welder. My girlfriend, Rosalyn, 22 years previous, works as an accountant and lives within the Philippines (Iloilo). I met her on-line through an app that was meant to speak with folks and make mates, however we needed extra then that. In June of this yr I flew to the Philippines (first time flying!) and met her in particular person. We actually hit it off and sit up for presumably transferring overseas collectively. I don’t personal any pets and don’t have youngsters.

I realized about FIRE from my buddy Jay. She’s given me ideas and proven me loads of stuff I did fallacious. I’ve modified these issues for probably the most half, however there’s nonetheless loads to study.

What feels most urgent proper now? What brings you to submit a Case Research?

I’ve an issue with regards to my household. My household is poor and so they usually ask to borrow cash, which I’ve to combat to get again. I’m engaged on this and am getting higher at saying “no.” My household has been utilizing me as a free taxi driver, private handywoman, interest-free financial institution, and many others. The quantity of debt my relations owe me totals €47,495.

I even have a worry of spending cash. I began working after I was 13 as my father handed away again then, and my mom made nowhere close to sufficient cash to outlive. After faculty, on weekends and holidays, I went to work. There have been a pair instances we had been virtually homeless, however I managed to pay our payments on time. That is what makes me have a worry of spending. I don’t ever need to return to these instances and I don’t need my potential future household to ever expertise this. However I don’t remorse my previous as a result of these experiences made me the hard-working particular person I’m at the moment.

I additionally need to transfer away from the Netherlands finally, in all probability by working overseas in different international locations. What I hope to get from this Case Research are some helpful ideas so I can finally obtain my targets.

What is also urgent presently is selecting my profession path. As of now, I’m occupied with taking a brand new job for 1 to 2 years to economize and hopefully be paid again by my household earlier than transferring overseas.

I presently have two job provides to think about:

1) a higher-paid, common welding job.

2) a lower-paid welding job, however one the place I’d study pipe welding.

This second job would require me to remain longer, or pay again the price of education if I didn’t stay with the corporate after ending their courses. Pipe welding has the potential to pay much more afterward, however I additionally suppose it’s one thing that may be realized on the job, since I already know common welding.

I do need to journey overseas finally, for the journey, and simply to study totally different folks and locations and see if some place else is a greater match for me than the Netherlands.

Does anybody have options on the place to go overseas to work as a welder?

I finally need to work overseas for 1 to 2 years, after which determine to both keep, transfer ahead to a unique nation and see if that’s a greater match, or return to the Netherlands. Does anybody have recommendation about this?

What’s the perfect a part of your present life-style/routine?

I like the sphere I’m in, however not a lot my final job. I even have loads of aspect jobs that are okay too, equivalent to: watching pets/youngsters, serving to renovate homes, engaged on again/front-yards, taxi driving, and many others. These aspect jobs should not official, and I don’t cost a lot for them, as they’re both straightforward jobs or jobs I study from, which finally will probably be helpful after I reside alone.

I nonetheless reside with my mom to economize, however, I’ve helped her financially since my father handed away after I was age 13 (I’ve lent her €38,245 in whole).

The place Jamie Needs to be in Ten Years:

Funds:

Life-style:

• I need to have the ability to journey the world and never have to fret about funds on a regular basis.

Profession:

• I’m all for finally having my very own welding office or store, and probably rental properties.

Jamie’s Funds

Be aware: all quantities are listed in Euros (€). As of this writing, €1 = $1.05 US {Dollars}.

Revenue

Merchandise	Quantity	Notes
Welding job	€1,627.12	My internet wage with taxes and insurance coverage taken out
Month-to-month subtotal:	€1,627.12
Annual whole:	€19,525.44

Be aware: I additionally sometimes earn €500-€1,500 per thirty days from my aspect jobs, however I didn’t embrace that within the whole because it’s variable.

Money owed: None

Belongings

Merchandise	Quantity	Notes	Curiosity/kind of securities held/Inventory ticker	Title of financial institution/brokerage	Expense Ratio
Funding account	€5,471	my dealer	A number of index funds equivalent to iShare Core MSCI World UCITS ETF USD (Acc)	degiro	0.98%
Financial savings account	€4,523	my financial savings account the place I retailer my leftover cash, donate cash, lend cash to help my sister’s little one, investing cash, financial savings for a brand new automobile	earns 0.40% curiosity	leaseplanbank	N/A
Deposits	€2,000	2 deposits of 1k every, one ends 1 oktober 2022 the opposite 6 april 20023	0.25% curiosity	leaseplanbank	N/A
Money	€1,254		no curiosity/charges	N/A	N/A
Checking account	€300	I make sure that there’s simply sufficient cash in there to pay payments	scholar account, no charges	ABN Amro	0%
Whole:	€13,548

Autos

Automobile make, mannequin, yr	Valued at	Mileage	Paid off?
Peugeot 206	€1,200	212,836 km	sure
Bicycle	€1,000	150,00km	sure
Whole:	€2,200

Bills

My bills are a bit uncommon as a result of I reside with my mom and she or he pays for my meals, housing and utilities. In trade, I assist her round the home, repair her automobile and do different odd jobs for her. I’ve additionally lent her €38,245 to assist her out over time.

Merchandise	Quantity	Notes
medical health insurance	€142
touring	€142	trip to my girlfriend
gasoline for automobile	€60	I exploit my bicycle as usually a doable
automobile financial savings	€40	Financial savings for a brand new automobile
taxes	€27
christmas	€21	christmas presents for 3 folks and my girlfriend abroad
birthday presents	€20	most presents I make myself, I do should pay for supplies and transport to a different nation
charitable donations	€10
commerce union	€2
garments	€1	I barely purchase garments. Most of my clothes was given to me for a birthday/vacation or are hand-me-downs
Month-to-month subtotal:	€464
Annual whole:	€5,568

Credit score Playing cards: none

Jamie’s Questions for You:

1) I’ve a troublesome resolution forward as I’ve to decide on between 2 jobs:

• At job #1 I’d be a welder, at the next pay, however I wouldn’t learn to weld pipes. I’m unsure, however I believe if I need to weld aboard I’ll want pipe welding expertise and I don’t know if a future employer could be keen to show me. However this job does pay higher and I wouldn’t be connected to a faculty. Plus, I’d learn to MIG weld at this job, which is a profit as I believe loads of employers count on a welder to have the ability to do each TIG and MIG welding.
• Job #2 would give me the chance to study TIG pipe welding (I can TIG weld, I simply don’t have expertise with pipes but) however I’d additionally have to go to high school as soon as per week, which this firm would pay for. Nevertheless, since I don’t plan on staying for years at this firm right here within the Netherlands, I’d finally should pay all of it again. In order that’s a little bit of a adverse about this job.
• Which ought to I select?

2) I would love options on methods to higher my monetary scenario.

• And, if I’m doing one thing fallacious, what ought to I modify?

3) I wish to work overseas as welder–wherever on this planet the place they want a welder.

• Does anybody have recommendation on methods to get began?

Liz Frugalwoods’ Suggestions

Jamie, you might be doing fabulously effectively for being solely 21 years previous! I definitely wasn’t this financially organized at 21 and I believe a lot of the readers will concur!! I commend you for desirous to plan in your future at such a younger age.

You need to really feel very proud that you just’re taking these accountable, proactive steps. The monetary selections we make as younger adults can have a profound affect on our longterm monetary well being and general internet price, so it’s VERY thrilling to work somebody proper in the beginning of maturity!

Jamie’s Query #1: I’ve a troublesome resolution forward as I’ve to decide on between 2 jobs.

It is a nice drawback to have!! Whilst you’ve clearly outlined the professionals and cons of every job, the selection is fairly clear for my part: Job #2 the place you’d study TIG pipe welding.

I’m (clearly) not a welder, however my husband is an newbie welder and he weighed in along with his welding-related opinions:

“Completely take the job in TIG pipe welding as that’s a talent that’s all the time going to be in demand. Plus it’s virtually all the time worthwhile to get further coaching while you’re younger. Keep at this job during the coaching program and get good at it. Be taught all the things you may and get as many certifications as doable out of your employer. It’s a tremendous reward to obtain coaching paid for by your employer.

TIG pipe welding is a real artwork type and a specialised talent that individuals pays loads for. You might be younger and energetic, so get good in any respect the bizarre physique positions you could be put in whereas pipe welding (above your head, round a bend, and many others). There are millions of miles of piping on this planet that have to be welded by a gifted TIG pipe welder. Wherever the place there’s industrial exercise, there’s a necessity for extremely expert TIG pipe welders. Realizing TIG pipe welding ought to open up worldwide jobs for you.

One factor to bear in mind is that welding could be on a growth/bust cycle as a result of the key shoppers of pipe welding are associated to grease and fuel. When oil and fuel are booming, there’s a ton of cash to be made. After they’re crashing, the job market is tighter. On condition that, the extra trainings and certifications you may have, the extra employable you’ll be.”

Thanks, Mr. Frugalwoods!

Okay, so he’s very emphatically in favor of you studying TIG pipe welding. I then requested him about the truth that the opposite job would train you MIG and he replied:

“For those who’re an excellent TIG welder, MIG may be very straightforward to select up. TIG welding is way more difficult and finest realized from an expert. However, you should purchase an affordable MIG welder and train your self MIG at house.”

Past the TIG versus MIG dialog occurring up there, listed below are my ideas on why it is best to take the pipe welding job:

1. Getting all of the certifications you may whereas younger is SO SMART. I’ll inform you from expertise that life sometimes solely will get busier and extra difficult as you grow old. Do it whilst you’re YOUNG and unencumbered!!!!
2. Having your employer pay for this coaching is incredible. Reap the benefits of this reward!
3. It’s going to look excellent to any future employer that you just stayed at this job for awhile. Future employers need to see that you just stick to a job and don’t depart it after a brief time period.
4. Taking this job will provide you with time to avoid wasting more cash and do extra analysis on the place you may wish to/be capable of work and reside overseas. Additionally, in case your relationship along with your girlfriend progresses and turns into extra severe, it’ll be good to take her opinions under consideration as to the place you may transfer. Working this job for a number of years will provide you with the time to discover all of those totally different choices and concepts.

Jamie’s Query #2: I would love options on methods to higher my monetary scenario.

You might be beginning out from a place of energy and so most of my suggestions are to easily proceed in your present path! At this level in your life, my recommendation is to:

1) Earn more cash:

• You’re already within the means of doing this, in order that’s nice!
• All you are able to do right here is figure exhausting, get extra certifications and proceed to advance.

2) Cease lending cash to your loved ones members:

• It is a difficult concern and also you’ve already articulated that you just’re getting higher at saying “no,” which I believe is sensible.
• Sadly, it’s possible you’ll not ever be paid again by your kinfolk and you might have to let this cash go. It’s not your fault as you had been attempting to be a useful, caring particular person; however, it’s very doable they gained’t ever pay you again.
• Going ahead, I believe it’ll be helpful so that you can provide you with some ways/methods for safeguarding your self from these requests.
• For those who do determine to lend cash sooner or later, I encourage you to think about it as a present quite than a mortgage. It is extremely exhausting to recoup private, casual loans and so, if in case you have the monetary capacity and want to offer cash to a relative, maybe re-framing it as a present would make it extra psychologically tenable for you.

3) Take into account seeing a therapist to assist heal your previous monetary trauma:

• I strongly suggest you think about going to remedy. I say this as a result of a therapist might provide help to decide how to answer requests for cash from your loved ones and likewise provide you with coping methods for therapeutic your previous monetary traumas.
• You might be so younger and will probably be in such an exquisite place afterward for those who take care of the feelings and trauma round these points sooner quite than later.
• You may make no higher funding in your self than in your psychological well being! 
• Know that monetary trauma is an actual factor many individuals undergo from and it’s not your fault.
• You talked about you may have a worry of spending cash, which is one other factor a therapist might provide help to unpack.
• Moreover, the extremely difficult circumstance of supporting your mom after the loss of life of your father makes me suppose a therapist could be a really useful useful resource for you going ahead.
• I’ve been to remedy a variety of totally different instances and I all the time emerge feeling higher!

4) Decide an exit plan out of your mom’s house/monetary help:

• You two are very reliant upon each other financially and, as you intend to maneuver overseas, you’ll have to work together with her on methods to separate yourselves.
• As you famous, your dwelling bills are very low attributable to her help and she or he is equally supported by the cash you’ve lent her over time.
• Except your longterm plan is to have your mom transfer overseas with you, now’s the time to start out speaking together with her about how she’ll cope with out you–and vice versa.

Asset Overview

Let’s check out the place Jamie’s cash is correct now.

Money: $8,077

Because it stands, this can be a sturdy emergency fund. Nevertheless, it’s vital to keep in mind that your dwelling bills are artificially low. When you’re dwelling by yourself, your bills will improve fairly a bit and so that you’ll want to make sure you’re sustaining your emergency fund financial savings when you’re paying in your personal hire, utilities, meals, and many others.

Investments: $5,471

Whereas it’s superior that you just’re invested available in the market, hold retirement investing in thoughts too! I’m wholly unfamiliar with retirement plans within the Netherlands, however, that is one thing you need to begin doing as quickly as doable. The sooner you start saving in your retirement, the higher off you’ll be in the long term.

I do know it’s exhausting to consider retirement while you’re simply beginning your profession, however your older self will thanks! Discover the retirement account choices provided by your employer and/or the federal government and decide what is going to take advantage of sense so that you can start contributing to. My suggestion is to plug into on-line FIRE communities within the Netherlands to get their recommendation. One place to start out is the Mr. Cash Mustache discussion board sub-group Dutch Mustachians.

Wanting Forward

You’re doing all the things you may at current; however, it is best to hold the next pointers in thoughts for the long run, as your revenue–and your bills–improve:

1. All the time hold an emergency fund of three to 6 months’ price of your spending:
   • That is your buffer in opposition to debt and it’s an crucial a part of everybody’s monetary well being.
   • Your emergency fund must be saved in an easily-accessible account, equivalent to a checking or high-interest financial savings account. It shouldn’t be tied up in illiquid belongings, equivalent to homes/automobiles/vintage china OR the inventory market.
   • You need to be capable of withdraw the funds instantly and at any time. That’s why it’s known as an “emergency fund”–it’s there to make emergencies simpler.
   • A part of this train is to all the time make sure you’re money flowing your bills each month and never spending greater than you earn.
   • Be certain that this stays on observe as your revenue and bills improve.
2. 

   My bicycle: how I get in every single place

   Make investments for retirement:

   • As famous above, it’s vital to maintain this high of thoughts and to prioritize it forward of different funding autos.
3. Stay debt-free:
   • You’re off to a incredible, debt-free begin–purpose to maintain it that manner!
4. Optionally available: Discover different funding choices:
   • For those who’ve accomplished steps 1-3 and are prepared for extra, you can begin researching the world of funding choices.
5. Ongoing: Rebalance, check-in, scan for brand new funding alternatives:
   • Put your self on a schedule of checking in on all the above:
     • Is your emergency fund staying consistent with your spending?
     • Are you continue to on observe for retirement?
     • Have any money owed cropped up that have to be paid down?
   • Whereas it’s a linear record, it’s additionally one you might want to frequently loop via as a result of life occurs and issues change.
   • Because you’re already invested within the inventory market, you’ll need to rebalance your portfolio frequently and be certain that your investments match your plans, your age, and your private danger tolerance.

Jamie’s Query #3. I wish to work overseas as welder–wherever on this planet the place they want a welder.

I’m no welder, however right here’s my common recommendation:

1) Make your self fascinating to future employers:

• Be taught as a lot as you may at your subsequent job.
• Safe all of the certifications and attend all of the trainings you presumably can.
• Be an superior worker to make sure you obtain nice suggestions.
• The extra skilled you might be, the better it’ll be so that you can discover a job overseas.

2) Decide if will probably be best to stay throughout the EU:

• I’ve to think about this would be the case. In mild of that, ought to EU member states be the start line in your analysis?
• For those who’re keen to go outdoors of the EU, think about what elements of the world enchantment to you:
  • What climates do you take pleasure in?
  • Do you need to be city or rural?
  • Do you need to be someplace with public transit?
  • What languages do you communicate?
  • What meals/recreation/tradition do you take pleasure in?
  • How lengthy of a flight house are you keen to tolerate?

3) Analysis, analysis, analysis:

• Ask your welding colleagues for recommendation, learn on-line welding boards, and analysis the place you’d be capable of get a piece visa.
• Are there international corporations you would work for who would ship you to totally different elements of the world for varied totally different jobs?
  • If an employer is managing your visa paperwork, it’ll be loads simpler on you.
  • However, you’ll have much less management over the place you go.

4) Take your time these subsequent few years to immerse your self in studying:

• Be taught as many various kinds of welding as you may
• Be taught as a lot as you may about the place you’ll be capable of get a job overseas

Abstract:

1. 

   Flying to see my girlfriend

   Take into account taking Job #2 so as to study the talent of TIG pipe welding at your employer’s expense.

2. Work with a therapist to:
   1. Set agency boundaries with kinfolk asking you for cash and free labor.
   2. Heal the previous monetary and emotional traumas of your father’s loss of life and your subsequent position as supplier in your mom.
   3. Set up a wholesome relationship with cash and spending.
3. Exhausting as it’s, know that your kinfolk could by no means pay you again:
   • For those who determine to lend cash to anybody sooner or later, think about it a present, not a mortgage.
4. Proceed saving cash as you may have been and monitor your account balances as your revenue and bills improve.
5. Analysis retirement account choices and start saving in your retirement now.
6. Start to speak along with your mom about how she’ll cope while you transfer overseas.
   • Begin making a plan together with her now in order that it’s not a shock while you do finally depart.
7. Begin researching the place you is likely to be keen/capable of work overseas.
8. Really feel assured and completely happy that you just’ve put your self in a FANTASTIC and enviable monetary place! You’re going to do nice!

Okay Frugalwoods nation, what recommendation do you may have for Jamie? We’ll each reply to feedback, so please be happy to ask questions!

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