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I'm looking to hear from single people making 90K a year or more?
What do you do for a living? How many hours to you work?
What are your expenses like? How much are you saving?
Actuary, officially 37.5 hrs a week, but probably more like 35. I spend about $25,000 a year. Save about 70% of after tax income. I take 1 foreign and 2-3 domestic trips a year. Eat out maybe once a week. Live in a metro where the average home costs $250K or so.
I'm looking to hear from single people making 90K a year or more?
What do you do for a living? How many hours to you work?
What are your expenses like? How much are you saving?
Can anyone else relate?
To be single with no kids, and work only 37.5 hours a week I do make decent money. But living and working in the DC area -- trust me -- it's not like I make anywhere near as much as the kind of money that can really be made here.
Is it too much to want to be able to eat out, take three trips a year, and max out a 401k and Roth IRA, and save money besides?
I typically work 75-90 hours per week.
I work... lets say in logistics, but it's a VERY specialized area (Literally there is no one else who can do what I can do due to knowledge and personal contacts)
My expenses:
Cell, Car and motorcycle insurance, note on 80 acres I HAD intended to be building on, renters insurance, that's about it other than consumables.
I live and pay these out of my $1,575/ Month pension and save my salary.
(Housing is provided)
I take trips, taking a cute redhead on a weekend getaway (I'd blow my 'live on my pension budget this month if I hadn't made some side money... still not touching my current paycheck.) Day after tomorrow infact.
I eat out too much, but when overtime pays nearly $40/Hour (I am paid by the hour)... It's almost cheaper sometimes to eat out!
I've saved over $25,000 since Feb 14th. (When I started this)
Maxing out a ROTH is EASY. I did it on Corporal's pay...
Though I'm no longer single (married for a little over a year), I make over 90K/yr on my own.
What do you do for a living? How much do you make? I am an ER physician. This year, I hope to break 400. If I hit that number this year, I'll be happy.
How many hours to you work? 36-40hr/week... in 5 years, my goal is to work a little less.
What are your expenses like? Student loans, a 20K car loan (left over from 45K), and looking for a house.
How much are you saving? Enough. My goal is to save close to $50K/year for 401K. I would like to save approx $3-4K a month of clean cash.
My overall thoughts on this income? Yes, it seems like a lot, but I think one can easily blow through it pretty quick. I have to exercise restraint on purchases because I really don't want to be in a position where I'm working just to pay for things. I don't feel rich, but am very fortunate and comfortable.
How can you save $50K/yr for a 401k when the IRS limits the maximum contribution at $17k/yr? You don't feel rich as an ER Physician hoping to break 400k? What is something that a 400k salaried person might be blowing money on?
I typically work 75-90 hours per week.
I work... lets say in logistics, but it's a VERY specialized area (Literally there is no one else who can do what I can do due to knowledge and personal contacts)
Someone thought I might be a gov employee and I'm not....but I'm going to guess you're retired military (or gov of some sort), and hopefully still relatively young.
How long to you want to work 75-90 hours a week? Isn't that sort of insane?
In some let's just say high level 'administrative-type' Washington jobs -- I imagine that people can write their own ticket after 4-8 years of work, but being on call and working 12-16 hour days, 6-7 days a week isn't for me -- even with all the benefits and contacts, and money you can make afterward. I wouldn't want to work that hard even in the short term, for long term benefit.
Maybe I'm burned out, maybe I'm jaded, maybe I'm lazy. I just don't want to work that much, or that hard.
As someone else wrote...the most amount of money for the least amount of work is my kind of job.
How can you save $50K/yr for a 401k when the IRS limits the maximum contribution at $17k/yr? You don't feel rich as an ER Physician hoping to break 400k? What is something that a 400k salaried person might be blowing money on?
I get profit sharing in the form of an additional 15% of my gross salary contributed to my 401K up to the IRS max of whatever it is at the time... I think it is $50K now. This is on top of my pay (i.e. bonus).
My student loan is about $220K... that's something I need to work on paying down.
At this moment, I don't feel rich. Until I become partner and start receiving dividends, I won't feel rich. At that time, I'll have some extra breathing room.
In some let's just say high level 'administrative-type' Washington jobs -- I imagine that people can write their own ticket after 4-8 years of work, but being on call and working 12-16 hour days, 6-7 days a week isn't for me -- even with all the benefits and contacts, and money you can make afterward. I wouldn't want to work that hard even in the short term, for long term benefit.
Maybe I'm burned out, maybe I'm jaded, maybe I'm lazy. I just don't want to work that much, or that hard.
As someone else wrote...the most amount of money for the least amount of work is my kind of job.
Work long and hard for many years and reap the benefits in the future. When I graduated college 10 years ago, I immediately went into the work force and for 4-5 years I worked and worked and worked. I put in a lot of overtime, I didn't take vacations, I literally lived to work. After about 5 years of that, I started to rise up in the ranks. I became a supervisor than I became a specialized liaison between R&D and Engineering and then I became the equivalent of a liaison supervisor with a team that I oversee to basically make blueprints into an actual working prototype. I work in a defense company which contracts mainly with the US government and every day is a new adventure, I can actually say I enjoy what I do- it isn't boring and I always like to know about new projects and advances in technology.
I don't really make that much, $120K-ish/ year plus benefits, but my job is enjoyable. It's all about giving it your all while you're young and then reaping the benefits as you age. Almost nobody starts out at the top making big bucks, most have risen through the ranks by being intelligent, personable, hard-working, and dedicated. I'm only 31 so hopefully in 20 years I'll be in a position where I'll be near the top making the money that everyone dreams of. My ambitious goal is to be head of R&D or Operations Manager by the time I'm 45- at those positions I'd basically report to the VP of the company.
I guess if you have to evaluate your priorities in life and decide whether it's worth the effort now to set yourself up for success in the future. If you want to do the least work possible, you're never going to work your way up the latter. The lazy ones are usually the first out the door when times get tough.
Work long and hard for many years and reap the benefits in the future.
Kudos. I don't make jack compared to some of my friends who stayed in banking (they are pushing north of 400k, im closer to half that) but my life is good - I work 40 hours a week, virtually unlimited vacation/sick, a healthy 401k match, flex work schedules, etc. I could leave tomorrow for another 50k elsewhere, and to be sure, an extra 50k would be nice, but I'd have to travel and work 60/70 hours a week. Been there, done that, don't want to do it again. Once you can get to a point where you make "enough", I think the trade off for time becomes more valuable. As that infomercial says, "set it and forget it"
If you want to do the least work possible, you're never going to work your way up the latter.
I'm 51, and have already worked my way to the top of what I do. There's no need for me to prove myself anymore. I do indeed hope to rest on my laurels until retirement, or at least as long as I can. I do enough work to impress, brown nose, show I'm 'interested' -- but bust my tail -- uh, no. Where I work there's no benefit to doing any more than that.
Quote:
Once you can get to a point where you make "enough", I think the trade off for time becomes more valuable. As that infomercial says, "set it and forget it"
I've never worked more than 40 hours, but this quoted statement I totally agree with.
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