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re: Perfect Annual Salary?
Posted on 7/30/13 at 1:34 pm to TheCaterpillar
Posted on 7/30/13 at 1:34 pm to TheCaterpillar
quote:
Is $60k-pre taxes a year at age 25 a decent start to life?
shite son. I'm 25 and I'm about to graduate and my goal is a lot lower than $60k.
1
Posted on 7/30/13 at 1:39 pm to TheCaterpillar
quote:
Is $60k-pre taxes a year at age 25 a decent start to life?
Definitely...
Like I posted earlier, the median income for a male 25-35 with a bachelors degree is 51k.
Posted on 7/30/13 at 2:09 pm to Ace Midnight
Yeah, it's painful to watch. I learned from my parents' mistake
Blows my mind how many people refuse to prep for retirement for a car they can't afford
Blows my mind how many people refuse to prep for retirement for a car they can't afford
This post was edited on 7/30/13 at 2:10 pm
Posted on 7/30/13 at 2:22 pm to TheCaterpillar
quote:
Is $60k-pre taxes a year at age 25 a decent start to life?
Definitely. I'm not sure what the median income is for people coming out of college but I would be surprised if it was more than 50k. 40-45k seems more in line.
ETA LINK
That states the average is $45k starting salary out of college, thus 60k is starting off way ahead the average.
This post was edited on 7/30/13 at 2:26 pm
Posted on 7/30/13 at 2:24 pm to hiltacular
Thanks for the self-esteem boost fellas.
I assume you're all males since this is a board about responsible money management.
I assume you're all males since this is a board about responsible money management.
Posted on 7/30/13 at 2:25 pm to southernelite
quote:
shite son. I'm 25 and I'm about to graduate and my goal is a lot lower than $60k.
Didn't start there man. A few years of shite jobs until I got this one. Big arse company that will pay for my MBA as well so thats nice.
If I gave any advice to anyone, which I probably shouldn't, it would be to stay patient but observant. Keep your eyes open, there are opportunities everywhere and when you see one, be aggressive...B...E...aggressive.
Posted on 7/30/13 at 2:30 pm to TheCaterpillar
quote:
Didn't start there man. A few years of shite jobs until I got this one. Big arse company that will pay for my MBA as well so thats nice.
that's nice.
The figure I have in mind right now is around 40. If I can get at or around 40, I'll be pleased.
Hoping maybe after a working a few years, I can go back and get my MSF.
just going to be hard, as I plan on moving, but since I've been in school so long I don't really have savings to move somewhere else without a job, that's the one that worries me.
I'll feel a lot more comfortable once I get that first job in the industry I want to be in, shite job or not.
Posted on 7/30/13 at 2:30 pm to TheCaterpillar
Hmmm...I was always the more responsible one. Then again, I'm not your average female. 
Posted on 7/30/13 at 2:32 pm to Latebloomer
Well, you bloomed late. 
Posted on 7/30/13 at 2:34 pm to TheCaterpillar
quote:
I assume you're all males since this is a board about responsible money management.
I
IRL, because it's true.
Posted on 7/30/13 at 2:34 pm to southernelite
quote:
I'll feel a lot more comfortable once I get that first job in the industry I want to be in, shite job or not.
Definitely.
Also, I recommend saving. I know its hard for someone our age, but try. My friends and I party so much and I indulge in nice things so much that I have shite for savings other than my 401k and I'm about to get engaged and its biting me in the arse. I have changed my ways however and have several savings accounts now, just wish I had started sooner.
When you first get a paycheck after college it feels like you're the richest man alive
Continue to live like you're on a college budget and the money will go very, very far
Posted on 7/30/13 at 2:35 pm to VABuckeye
Not in the financial department.
Posted on 7/30/13 at 2:39 pm to Latebloomer
I'll start off at 47k, wife works as a clinic nurse and makes 37k. If she went to a hospital (which she won't) she would make 45 to 50.
Posted on 7/30/13 at 2:39 pm to Latebloomer
I'll start off at 47k, wife works as a clinic nurse and makes 37k. If she went to a hospital (which she won't) she would make 45 to 50.
Posted on 7/30/13 at 2:41 pm to wegotdatwood
quote:
wife works as a clinic nurse and makes 37k. If she went to a hospital (which she won't) she would make 45 to 50.
holy shite, my gf is the same.
Refuses to work those hospital hours even though I can get her a a job at a solid hospital.
Its the price of happiness I guess. I didn't fight her too hard.
Posted on 7/30/13 at 2:42 pm to wegotdatwood
quote:
I'll start off at 47k, wife works as a clinic nurse and makes 37k. If she went to a hospital (which she won't) she would make 45 to 50.
In your case, I would make every effort to live off of one salary (it is good practice, anyway) and save 100% of the lower salary (in this case, hers). It likely won't be possible, but, at this fairly early stage, there's a chance. If you can pull that off for just a few years, the habits you will have developed, plus the income potential from investing that second salary could set you up for life.
Posted on 7/30/13 at 2:42 pm to TheCaterpillar
quote:
Its the price of happiness I guess. I didn't fight her too hard.
Yeah my wife took a 40% pay cut when we had our daughter so she would not have to work nights or weekends anymore
easiest decision ever, really
Posted on 7/30/13 at 2:48 pm to Ace Midnight
I'll try. Will be hard to pay a house, insurance, and daycare etc in $2800 a month net.
Possible without cars notes which we don't have. That's why I'm fighting it
Possible without cars notes which we don't have. That's why I'm fighting it
Posted on 7/30/13 at 2:50 pm to Ace Midnight
quote:
In your case, I would make every effort to live off of one salary (it is good practice, anyway) and save 100% of the lower salary (in this case, hers). It likely won't be possible, but, at this fairly early stage, there's a chance. If you can pull that off for just a few years, the habits you will have developed, plus the income potential from investing that second salary could set you up for life.
This is a phenomenal idea.
The gf and I are about to get engaged and move in with each other. I will try to do this with my 60k and save all of her 33k post taxes.
I love when I get good nuggets from td.com, it justifies all those ridiculous hours spent on here
Posted on 7/30/13 at 2:51 pm to TheCaterpillar
I have an idea of what I want to do.
Will shed my student debt as quickly as I can, and hopefully simultaneously save up for an engagement ring.
Once I have the ring, then I should be able to pay off my student fairly quickly. Definitely want to take care of that before marriage. I'd imagine my parents will help me out some with that, but I can't rely on that.
After that, I'll be pretty set, when the girl graduates law school, we'll be in a pretty prime position. She'll be debt free when she graduates, so that's pretty huge, so we'll be able to put away some money starting fairly early. I'm 25 now, and she's 23.
So, I like where we're headed, like I said, I just worry about landing in that first job, after that, I feel like we'll be headed in a great direction./
Will shed my student debt as quickly as I can, and hopefully simultaneously save up for an engagement ring.
Once I have the ring, then I should be able to pay off my student fairly quickly. Definitely want to take care of that before marriage. I'd imagine my parents will help me out some with that, but I can't rely on that.
After that, I'll be pretty set, when the girl graduates law school, we'll be in a pretty prime position. She'll be debt free when she graduates, so that's pretty huge, so we'll be able to put away some money starting fairly early. I'm 25 now, and she's 23.
So, I like where we're headed, like I said, I just worry about landing in that first job, after that, I feel like we'll be headed in a great direction./
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