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Started By
Message
re: How much were you making at ages 25, 28 and 30?
Posted on 11/25/24 at 2:40 pm to justaniceguy
Posted on 11/25/24 at 2:40 pm to justaniceguy
23k
28k
34k
I'm in my 40's now and ballin at about 76k
28k
34k
I'm in my 40's now and ballin at about 76k
0
Posted on 11/25/24 at 2:48 pm to DownshiftAndFloorIt
quote:Here at the OT you are amongst the bightest minds in the world, baw; be a sponge.
So in a state with a median income of like $50k, one guy is making under $100k @ 30 years old.
Posted on 11/25/24 at 3:07 pm to justaniceguy
25 (1990) about $20K so about $48K today. BY 28 (1993) probably $22K and about $48K. By 30 (1995) about $30k so about $62K. Went into business for myself in 1996 and have made substantially more since than I would have had I stayed the course.
Posted on 11/25/24 at 3:17 pm to BallHawg10
quote:
I’m 30 now and make $105K
I didn’t make 100k until 32 or 33 and I’m 43 now.
Posted on 11/25/24 at 4:02 pm to SouthPlains
quote:
Not sure how old you are now,
41
quote:
but do you feel like this was enough such that you were on track for a reasonable retirement?
It felt light then, but it has grown as of late. Part of that is that my earning potential has gone up significantly, but also compounding interest really ramps up after 10 years. I understand not everyone is on a career track that will happen.
I've always looked at savings for retirement through the lens of "I'm going to save what I can, while still living comfortably and I end up with the amount I end up with in retirement". I know people say you need x amount, but honestly, I'm not going to make my life miserable for 40 years so I can have a great 20 years if I'm lucky.
My advice to young people is start early and don't look at it for like 20 years.
Posted on 11/25/24 at 4:18 pm to justaniceguy
I plugged along at modest wage from graduation until I was about 30. Basically 2x from 22 to 30.
Went up 5x from 30 to 35 when I became winner/do'er project manager.
Went up 8x from 35 to 52, after starting my own small firm.
Sold at 52 for about 7x annual income.
Went up 5x from 30 to 35 when I became winner/do'er project manager.
Went up 8x from 35 to 52, after starting my own small firm.
Sold at 52 for about 7x annual income.
Posted on 11/25/24 at 4:20 pm to DownshiftAndFloorIt
quote:
Does anybody here make less than $100k?
Hell, yes. And with a mortgage, a car note, and kids, I'm holding it together with duct tape and bailing wire most months.
Posted on 11/25/24 at 4:31 pm to TDsngumbo
quote:
max out a Roth IRA if you qualify for it. If not, do a traditional IRA.
You can contribute to a Roth even if you are over income limits. Just put the money into a traditional and then convert it to a Roth a couple of days later. It’s a loophole that’s been around forever.
Posted on 11/25/24 at 4:51 pm to justaniceguy
25 - Around $40k or so, had about $20k in savings
28- $50k, had about $30k in savings
30- $100k, around $70k in savings
I'm 31 now and trying to save and invest 16% of my salary, also save at least $500 per month for emergencies, etc. No debt other than $90k or so on my mortgage.
28- $50k, had about $30k in savings
30- $100k, around $70k in savings
I'm 31 now and trying to save and invest 16% of my salary, also save at least $500 per month for emergencies, etc. No debt other than $90k or so on my mortgage.
Posted on 11/25/24 at 5:02 pm to SidewalkTiger
20 - $20k + benefits
25 - $50k + bonuses and benefits
30 - let's just say invest correctly
25 - $50k + bonuses and benefits
30 - let's just say invest correctly
Posted on 11/25/24 at 5:10 pm to justaniceguy
25: $37k equal to $54k today
Didn’t start saving until around age 32.
40 today: $90k. I’m a teacher with a defined pension and social security, so it’s hard for me to define what I have “saved” for retirement. I have $76k in a Roth plus $21k in emergency savings.
I’m glad my wife works.
Didn’t start saving until around age 32.
40 today: $90k. I’m a teacher with a defined pension and social security, so it’s hard for me to define what I have “saved” for retirement. I have $76k in a Roth plus $21k in emergency savings.
I’m glad my wife works.
Posted on 11/25/24 at 5:18 pm to justaniceguy
Converted to todays money from the 1990s
25 196k 1st year
28 275k 3rd year
30 405k 5th year
The big jump came at 32 when I made partner but it has been a much slower climb since then and some years are up and some years are down.
25 196k 1st year
28 275k 3rd year
30 405k 5th year
The big jump came at 32 when I made partner but it has been a much slower climb since then and some years are up and some years are down.
Posted on 11/25/24 at 5:27 pm to justaniceguy
25: 120K (35k in savings)
28: 130k (90k in savings)
30: 140k (115k in savings)
I'm 35 now making about 155k w/ right at 200k in savings. Pretty much maxed out. I'll actually be lucky if my pay doesn't start to decline based on the current state of my field of practice.
28: 130k (90k in savings)
30: 140k (115k in savings)
I'm 35 now making about 155k w/ right at 200k in savings. Pretty much maxed out. I'll actually be lucky if my pay doesn't start to decline based on the current state of my field of practice.
Posted on 11/25/24 at 5:30 pm to StealthCalais11
25: 100k/140k
28: 125k/167k
30: 175k/230k
Am I on the wrong message board?
28: 125k/167k
30: 175k/230k
Am I on the wrong message board?
Posted on 11/25/24 at 5:44 pm to justaniceguy
$35,000, $50,000, $85,000; 1990s
Posted on 11/25/24 at 5:51 pm to justaniceguy
I don’t remember exactly what I was making but inflation has been 45% since I went full time salary. With almost half of that coming just under Biden.
Hard to keep up with that.
Hard to keep up with that.
Posted on 11/25/24 at 5:53 pm to Obtuse1
quote:
Converted to todays money from the 1990s 25 196k 1st year 28 275k 3rd year 30 405k 5th year The big jump came at 32 when I made partner but it has been a much slower climb since then and some years are up and some years are down.
I looked up my income on social security website and made $231,000 from 1997 to 2005
16-24 years old and didn’t go to college so I was working full time from 18-24. I think when I started offshore I was making $12 an hr as a rigger.
This post was edited on 11/25/24 at 5:56 pm
Posted on 11/25/24 at 6:17 pm to justaniceguy
Today $
Age 25 $0
Age 28 $350,000
Age 30 $633,000
Age 25 $0
Age 28 $350,000
Age 30 $633,000
Posted on 11/25/24 at 6:26 pm to justaniceguy
Age 25: $96k equivalent today. Didn't feel like that much! I was at the top of my salary scale for a major defense contractor, so I was an outlier. I had delivered in spades on a division-saving program, so I got two consecutive "super raises" - my boss's term for them.
Age 28: $45k equivalent today. Went back to grad school FT and RA wages were straight up poverty, but I managed to live well enough and even saved a little cash. Had about $6k in mutual funds.
Age 30: $157k equivalent today. In a Northern major metro working for a Fortune 10 company, it didn't go all that far.
Age 28: $45k equivalent today. Went back to grad school FT and RA wages were straight up poverty, but I managed to live well enough and even saved a little cash. Had about $6k in mutual funds.
Age 30: $157k equivalent today. In a Northern major metro working for a Fortune 10 company, it didn't go all that far.
Posted on 11/25/24 at 6:38 pm to justaniceguy
What I made @ 34, and quit to go out on my own:
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