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re: Net Worth at 30

Posted on 7/28/13 at 6:40 pm to
Posted by Beerinthepocket
Dallas
Member since May 2011
856 posts
Posted on 7/28/13 at 6:40 pm to
Law: $100k+ starting at age 25 at the big firms.

CPA: $55k starting at age 23 at the big firms.

Banking: $90k+ with the big firms starting at age 22.

So it's doable in all three of the careers you just stated that its not. Also, selling a business would not have an effect on your net worth if sold at fair value, as the cash you receive would be equal to the fair value of the company you previously owned.
Posted by tirebiter
7K R&G chile land aka SF
Member since Oct 2006
9404 posts
Posted on 7/28/13 at 6:45 pm to
quote:

So it's doable in all three of the careers you just stated that its not. Also, selling a business would not have an effect on your net worth if sold at fair value, as the cash you receive would be equal to the fair value of the company you previously owned.


The subset you are qualifying/quantifying is no way the majority of those occupations. Fact, very limited subset. How many new lawyers even get jobs paying > $50k or even obtain employment as an attorney anymore? IRS tax filing data can be quite informative.

Owning their business indicates they weren't working shills on a fixed salary and could generate higher incomes and equity in their business increasing net worth over time.
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