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If you want more money you have 2 options:
--- make more
or --- spend less
If you're a big spender, there is no guarantee that you'll have more money at the end of the month - even with a nice pay raise.
Why do you want more money? Do you have a specific goal, such as buying a house or paying off student loans?
I'm not much of a big spender. I just want a sum large enough where there's a lot of leftover "play money" that allows for more flexibility for budgeting. I'm mostly focused on maxing my retirement and finishing off paying off the mortgage.
If you’re that motivated to get to six figures, no way will you STOP there. More money fuels the drive for even more money. That’s how this works. Trust me...there is no stopping point until your career is over.
These salaries that I see on Glassdoor are seriously frustrating me. People making 160k with barely 10 years of experience based on what's shown on LinkedIn.
I get that we should always be grateful for what we have, but these six figure incomes are seemingly impossible to obtain. Is there an element of luck or what? The only reason I'm where I am at is because of successful, relentless job hopping. Waited another year and can't get anyone to pay six figures.
I'm in corporate training and my comp is at 90k. I have 4 years of experience and about to finish my master's.
You're perceived to be worth what you're making now. This is a big part of why you never reveal your current salary when looking for a new job... you focus on what you want to make and justifying that.
There are lots of crumbs out there who made it into the Six-Figure Club one way or another, and now they bumble around and not perform and wind up leaving for another six-figure job, just because they're perceived to be worth it because that's what they made.
There's also a lot of weight given to who you've worked for. You can take two people, equally smart. One works at Acme Industries, one works at Google. Both interview for the same new job. There's an inherent bias to wanting to offer more to the Google person because of a perceived inherent value in someone who's so brilliant they got a job at Google!
Corporate training is a cost center (unless you work for a company that sells training classes to corporations.) If I'm a shareholder in the corporation, you do not make me any money. You cost me money. Your existence costs me money. There is very little linkage between you teaching something in the corporate training company and one of your students doing something to make me money - let alone $160K.
Try getting out of a cost center and into a profit center, where you can demonstrate just how much money you could make me. Show me you can design new products to sell for me to make money. Show me you can reengineer existing products so they'll sell more or cost less to build, thereby making me money. Show me you can close deals thereby making me money. Show me you can directly support customers in such a way they are delighted with us and do repeat business, thereby making me money. Show me you can rearrange company business lines in such a way as to save $$$, thereby making me money. Show me you can help keep the company legal in all of its operations, thereby avoiding litigation expense and costly fines & awards, thereby making me more money. Show me you can plan our operations in such a way as to minimize the income tax burden we incur, thereby making me more money. Show me a strategic trend I'm missing or competitive threat I don't see together with tactics on how to deal with them, thereby making me money.
Figure out how to make earn your employer $400K and watch your compensation get a big bump.
Thank you for putting it so succinctly!
To make it even shorter according to an old adage: when you work hard money come!
When I say “ hard” I mean smart!
<snip> It's very easy to spend every penny of that money before your next check going into the bank.
The secret to FIRE is not to spend all of it. You may not be pursuing a "Financially Independent, Retire Early" lifestyle, but the principle is the same.
Don't listen to the marketers, they want you to spend all your money on whatever they are pushing and also have the scientific data to make sure you listen, but do you really need that Audi? SUV? or that fancy vacation?
The marketers are working hard to make sure they earn their keep and they'll do pretty much anything to convince you that they are making a great argument to buy their crap.
The secret to FIRE is not to spend all of it. You may not be pursuing a "Financially Independent, Retire Early" lifestyle, but the principle is the same.
Don't listen to the marketers, they want you to spend all your money on whatever they are pushing and also have the scientific data to make sure you listen, but do you really need that Audi? SUV? or that fancy vacation?
The marketers are working hard to make sure they earn their keep and they'll do pretty much anything to convince you that they are making a great argument to buy their crap.
FIRE sounds cool to many people but the absolute brutal truth is lower income folks will have a much harder time realizing it. It is far easier to spend a minimal amount of money when you have a lot rolling in and can see the light at the end of the tunnel.
90k is decent I mean I wouldn't say it's low income and honestly the person who switched gears mid life and has come back to make that money in such a short time frame will be successful. I'm confident reading the OP's posts he(?) will realize his goals. It may not be doing what he's doing now, or just from one income stream, but his drive to self improve will get them there.
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