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re: “If you aren’t pulling 6 figs by 30, you should re-evaluate your life” Is this wrong?
Posted on 1/14/21 at 8:51 am to GreatLakesTiger24
Posted on 1/14/21 at 8:51 am to GreatLakesTiger24
70k in a rural area like Madison, MS is better than 100k in a large liberal city like Nashville, TN imo. To each their own though.
Everyone these days is so focused primarily on income, yet put almost zero importance on cost of living. The small amount of what I call "big city tax" on everyday items really adds up once you start doing the math.
Everyone these days is so focused primarily on income, yet put almost zero importance on cost of living. The small amount of what I call "big city tax" on everyday items really adds up once you start doing the math.
This post was edited on 1/14/21 at 8:58 am
2
Posted on 1/14/21 at 8:54 am to GreatLakesTiger24
quote:I don't think everyone has the same goals in life, and that's okay. That being said, I had that "goal" even before I read the OT. Beat it by a year
“If you aren’t pulling 6 figs by 30, you should re-evaluate your life” Is this wrong?
Posted on 1/14/21 at 8:56 am to BobLeeDagger
I'm moving to an smaller town area in south Alabama and will also be making more money as a result - double bonus time!
frick the car insurance savings alone will be a couple thousand a year.
Also, my goals shifted a lot more towards work / life balance, healthy / less stressful lifestyle and a few challenges outside of work I want to accomplish.
When my goal was originally "make as much money as possible and keep producing more" I was fricking miserable though and wasting half the money I made on tryin to take these big trips and other things to make it "worth it" since I hated what I was doing.
Since I have adjusted my mindset and prioritized things outside of work to the same level - I have become much, much more efficient and productive at work.
frick the car insurance savings alone will be a couple thousand a year.
Also, my goals shifted a lot more towards work / life balance, healthy / less stressful lifestyle and a few challenges outside of work I want to accomplish.
When my goal was originally "make as much money as possible and keep producing more" I was fricking miserable though and wasting half the money I made on tryin to take these big trips and other things to make it "worth it" since I hated what I was doing.
Since I have adjusted my mindset and prioritized things outside of work to the same level - I have become much, much more efficient and productive at work.
This post was edited on 1/14/21 at 8:59 am
Posted on 1/14/21 at 8:58 am to Sneaky__Sally
quote:How many vehicles do you insure?
frick the car insurance savings alone will be a couple thousand a year.
Posted on 1/14/21 at 8:59 am to usc6158
quote:
I'm guessing less than 10% of the population makes 6 figures.
it's way less than 10%.
Posted on 1/14/21 at 8:59 am to BobLeeDagger
quote:
Everyone these days is so focused primarily on income, yet put almost zero importance on cost of living
Not only col but the quality of lifestyle. If you are obsessed with keeping up with your friends then sure knock yourself out making as much as you can and likely living eyeball deep in debt. Or you could make a more modest salary but live within your means and appreciate what you have and live more happily than anyone
Posted on 1/14/21 at 8:59 am to Epic Cajun
quote:
“If you aren’t pulling 6 figs by 30, you should re-evaluate your life” Is this wrong?
quote:
frick the car insurance savings alone will be a couple thousand a year.
How many vehicles do you insure?
NOLA insurance to small town car insurance savings are MASSIVE
Posted on 1/14/21 at 8:59 am to GreatLakesTiger24
A lot of jobs will never hit 6 figures (or they will in day, 2040 when it’s the equivalent of $60k now or something).
Others require obscene amounts of overtime to pull it off.
“If you can’t begin to plan for retirement at 30” is a much better gage IMO. 30 is about the latest you can live paycheck to paycheck without putting something away (and get away with it in the long run without major sacrifice).
Others require obscene amounts of overtime to pull it off.
“If you can’t begin to plan for retirement at 30” is a much better gage IMO. 30 is about the latest you can live paycheck to paycheck without putting something away (and get away with it in the long run without major sacrifice).
Posted on 1/14/21 at 9:00 am to Sneaky__Sally
quote:
When my goal was originally "make as much money as possible and keep producing more" I was fricking miserable though and wasting half the money I made on tryin to take these big trips and other things to make it "worth it" since I hated what I was doing.
I was in this exact same boat. Live for your hobbies and family, and work to support those to ensure you can sustain that enjoyment.
Posted on 1/14/21 at 9:02 am to GreatLakesTiger24
It’s not difficult for people of the right knowledge and skill set, or people that are willing to do what the vast majority of society is not. But, for the vast majority of cogs in the machine, today’s mega corporate dominance has really stifled wage growth and I would conclude it is very difficult for 80% of society to achieve a six figure wage by 30.
I’m a soulless scab though, and I am willing to do things most people aren’t for money, so I had my first six figure W2 at 25.
I’m a soulless scab though, and I am willing to do things most people aren’t for money, so I had my first six figure W2 at 25.
This post was edited on 1/14/21 at 9:03 am
Posted on 1/14/21 at 9:02 am to GreatLakesTiger24
quote:
“If you aren’t pulling 6 figs by 30, you should re-evaluate your life” Is this wrong?
$100K is the new $75K in 2021.
Posted on 1/14/21 at 9:04 am to GreatLakesTiger24
I am 30. Don’t make six figs.
Not really close either. Probably make the least of all of my friends.
Not a big deal. I’m comfortable.
Not really close either. Probably make the least of all of my friends.
Not a big deal. I’m comfortable.
Posted on 1/14/21 at 9:04 am to GreatLakesTiger24
Imo, that's not a gauge. It's just not. And if you're 30 reading, don't buy it.
Posted on 1/14/21 at 9:04 am to GreatLakesTiger24
Much like all goals, once you get their you realize it's not as life changing as you once thought.
Posted on 1/14/21 at 9:05 am to AnonymousPotato
I’m at 6 figures at 30 but I pretty much sacrificed 23-30 to get here.
Posted on 1/14/21 at 9:06 am to Sneaky__Sally
quote:Gotcha, I kept my vehicles registered in a small town when I lived in New Orleans
NOLA insurance to small town car insurance savings are MASSIVE
Posted on 1/14/21 at 9:06 am to GreatLakesTiger24
6 figures by 30 means you're either a professional or you're in sales. The former means you're usually tethered to a big city and the latter means you're probably trading lifestyle/security for income. Both have downsides.
A family making 300-400k but having to live in/around the city is probably devoting a huge chunk of money to housing and private schools. Which is probably ok if the expectation is more income growth, but plenty of professions tend to cap out (or come close) relatively early. And high wage earners get crucified on taxes because making a few hundred k basically means you're Jeff Bezos in the mind of the government and half the country. You'll get a high bracket and no breaks if you work a traditional high wage job.
Is that preferable to making 80k or a combined 150k out in suburb? Pretty questionable IMO. The benefits of city living aren't looking so hot at the moment, but other benefits arise down the line. Good private schools = good colleges. Good colleges more often lead to high paying professional jobs, and so on and so forth.
A family making 300-400k but having to live in/around the city is probably devoting a huge chunk of money to housing and private schools. Which is probably ok if the expectation is more income growth, but plenty of professions tend to cap out (or come close) relatively early. And high wage earners get crucified on taxes because making a few hundred k basically means you're Jeff Bezos in the mind of the government and half the country. You'll get a high bracket and no breaks if you work a traditional high wage job.
Is that preferable to making 80k or a combined 150k out in suburb? Pretty questionable IMO. The benefits of city living aren't looking so hot at the moment, but other benefits arise down the line. Good private schools = good colleges. Good colleges more often lead to high paying professional jobs, and so on and so forth.
Posted on 1/14/21 at 9:06 am to dewster
People always say living in a small town is cheaper than the big city. What all is actually cheaper besides housing?
Genuinely curious because it feels like the cost of most goods is standard.
Genuinely curious because it feels like the cost of most goods is standard.
Posted on 1/14/21 at 9:07 am to GreatLakesTiger24
Most people who pull 6 figs are not much better off than those who don't because they raise their expenditures and continue to live bigger paycheck to bigger paycheck.
Their houses and cars may be nicer, but they are still slaves to their jobs.
Their houses and cars may be nicer, but they are still slaves to their jobs.
Posted on 1/14/21 at 9:09 am to Black n Gold
quote:
There are not as many six figure jobs in Louisiana as there are people claiming to make six figures in Louisiana.
Most are government jobs.
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