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re: Do you have a MINIMUM PAYOUT dollar figure?
Posted on 1/7/16 at 1:59 pm to VABuckeye
Posted on 1/7/16 at 1:59 pm to VABuckeye
exactly. We save ~38% of our gross income, and we don't have a problem living that much a lower lifestyle than our income warrants. But I think we are the exception.
My step father gave me incredible advice that I have lived by. Never give yourself a raise. while I have given myself a few raises, I basically live on about 15% more than what I did in 2000.
we drive old cars, only eat out once or twice a week, dont buy clothes or many toys. Our main indulgence is travel. We are heading to indonesia for 3 weeks at the end of the month. Even that won't be that bad, probably $7k total for 24 days.
its not impossible. If I worked until I was 65 and saved as much as I do now, I would get close. But frick that.
My step father gave me incredible advice that I have lived by. Never give yourself a raise. while I have given myself a few raises, I basically live on about 15% more than what I did in 2000.
we drive old cars, only eat out once or twice a week, dont buy clothes or many toys. Our main indulgence is travel. We are heading to indonesia for 3 weeks at the end of the month. Even that won't be that bad, probably $7k total for 24 days.
quote:
Would probably have to push 7.5 MM for that though. I'm still pretty young.
its not impossible. If I worked until I was 65 and saved as much as I do now, I would get close. But frick that.
This post was edited on 1/7/16 at 2:05 pm
2
Posted on 1/7/16 at 2:19 pm to Hawkeye95
At my age, I would need about 5M.
Posted on 1/7/16 at 6:50 pm to Hawkeye95
quote:
My step father gave me incredible advice that I have lived by. Never give yourself a raise.
This is rare advice these days. I used to save half and take half home. Good advice though, once you take it home it is usually spent and leads to lifestyle creep and dependence on higher income.
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