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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 9:21 am to GreatLakesTiger24
Posted on 1/14/21 at 9:21 am to GreatLakesTiger24
Another factor to take into account is when you actually turn 30. If I had been make $100K or more when I was 30 it would have been way more impressive than doing it today.
0
Posted on 1/14/21 at 9:21 am to GreatLakesTiger24
I’m 36 and I just started making six figures. I’ve only been in my field for 3 years though. Moving companies usually helps too.
Posted on 1/14/21 at 9:22 am to GreatLakesTiger24
Money will NEVER bring happiness, only LIVING can do that !
Posted on 1/14/21 at 9:23 am to Epic Cajun
Moved to a small town in MS from Houma almost three years ago.
Home insurance dropped $1500yr
Car insurance dropped $1000/yr
Public vs private school saving me $13,000/yr
Sales tax 10% down to 7%
Oh and restaurants are cheaper most places menu items are under $12
Doesn’t take long for savings to add up.
Home insurance dropped $1500yr
Car insurance dropped $1000/yr
Public vs private school saving me $13,000/yr
Sales tax 10% down to 7%
Oh and restaurants are cheaper most places menu items are under $12
Doesn’t take long for savings to add up.
Posted on 1/14/21 at 9:23 am to GreatLakesTiger24
quote:
If you aren’t pulling 6 figs by 30, you should re-evaluate your life” Is this wrong?
Yes.
Posted on 1/14/21 at 9:24 am to Ed Osteen
No. It sounds like a 30 year old who just earned a hair over 100k for the first time.
Posted on 1/14/21 at 9:27 am to GreatLakesTiger24
Unfortunately, working hard, excelling professionally, and earning money simply makes you a target in today's sociopolitical environment. The prevailing attitude seems to be that if a person has a significant amount of money, especially early in life, he or she is the beneficiary of a "corrupt" and "unfair" capitalist system. The "injustice" can only be "remedied" by seizing the individual's wealth via government policies and redistributing it to those more deserving, while demanding that the individual apologize for his/her successes and surrender further opportunities.
Posted on 1/14/21 at 9:29 am to GreatLakesTiger24
Depends on where you live and what your profession is. If you're a professional (dr., lawyer, etc), then yes. If you are a public school teacher, no. If you live in NYC or Sf, yes. If you live in Bunkie, La. or McComb, La., no.
Posted on 1/14/21 at 9:29 am to GreatLakesTiger24
I didn't make it by 30, but got to 85k. I'll make it by 35. I married well so it didn't matter as much.
If you are a man and don't make 100k though you should be working 60 hrs weeks or bettering yourself to be able to earn a six figure salary.
Six figures don't go as far as they used to. The low interest rates have explode real estate prices and child care is over 10k annually per child.
Usually to obtain a six figure salary you have to incuur student loan debt etc.
You really just need 2 good incomes. A family of 4 needs 150k to live comfortably in most non costal metros.
If you are a man and don't make 100k though you should be working 60 hrs weeks or bettering yourself to be able to earn a six figure salary.
Six figures don't go as far as they used to. The low interest rates have explode real estate prices and child care is over 10k annually per child.
Usually to obtain a six figure salary you have to incuur student loan debt etc.
You really just need 2 good incomes. A family of 4 needs 150k to live comfortably in most non costal metros.
Posted on 1/14/21 at 9:32 am to GreatLakesTiger24
It matters not what you make. Only what you spend.
Posted on 1/14/21 at 9:35 am to BhamDore
quote:
If you are a man and don't make 100k though you should be working 60 hrs weeks or bettering yourself to be able to earn a six figure salary.
I'd rather make 75k and work 40 hours per week. There's a whole lot more to life than work and money.
Posted on 1/14/21 at 9:35 am to GreatLakesTiger24
I made a career change at 27, so I was not in the 6 figure area but I guess I fit in the "re-evaluate your life" aspect. I did not make the change for the 6 figures, but knew there was a much higher probability of getting their with the new career.
I don't know much about this Visual Capitalist site, but they basically indicate you are in the top 10% of your age group if you are over $85k by 30.
I don't know much about this Visual Capitalist site, but they basically indicate you are in the top 10% of your age group if you are over $85k by 30.
Posted on 1/14/21 at 9:35 am to GreatLakesTiger24
I know oil is down, but all my buddies that went straight to roughneckin after high school was pushing up on 6 figs by 20. However, in most of La 6 figs can have you living like a king.
Posted on 1/14/21 at 9:40 am to mylsuhat
quote:
"6 figs" is not what it used to be
When I was in school, $70k was a huge amount of money, and I remember hearing that as a salary and making that my objective. By the time I got to that figure, it wasn’t nearly as attractive.
The six figure threshold today would allow me to live comfortably, but not afford some toys.
This post was edited on 1/14/21 at 9:40 am
Posted on 1/14/21 at 9:43 am to dewster
"You need to play both good offense and defense. Maximize earnings, but also invest and spend carefully if you want to become "rich". Try not to have kids too young. Try to avoid buying cars every 5 years. Buy a house when you can afford it instead of renting. Contribute to your retirement account as much as you can. Set money aside for the future, etc."
I have no idea why you got two downvotes.
I have no idea why you got two downvotes.
Posted on 1/14/21 at 9:45 am to Tigerfan1274
quote:
$200,000 Household income
quote:No, no you wouldnt
poor in Manhattan.
Posted on 1/14/21 at 9:45 am to chryso
quote:
What percentage of the population do you think actually does that?
9% apparently, according to an income by age percentile calculator I just used
But 100k in BR is a lot different than 100k in SF, and I bet there’s a heavy number of these “high earners” in SF
Posted on 1/14/21 at 9:46 am to Epic Cajun
"O&G (during good times)"
there are a lot of O&G jobs that are only good during the good times. If you play your cards right and make good decisions you can do well consistently in O&G. The trick is to stay away from drilling, try to get on with a major as a technician ASAP and stay in production. I know plenty of people that do it.
there are a lot of O&G jobs that are only good during the good times. If you play your cards right and make good decisions you can do well consistently in O&G. The trick is to stay away from drilling, try to get on with a major as a technician ASAP and stay in production. I know plenty of people that do it.
Posted on 1/14/21 at 9:48 am to The Third Leg
quote:
Last time I hired a plumber, the hourly rate for him and his apprentice was $185/hr.
If I could do it again, I would encourage my kids to get into a trade (all 3 graduated from LSU and have decent jobs). Amazon cannot fix a plumbing problem. Google cannot work on your car.
Given that, the plumber and his assistant spend an assload of non-billable time go to/from the jobsite, going to/from Coburns, etc. They, or their wives, do the books at night and on weekends. I had a buddy that owned a a plumbing business and did well but he probably only billed 50-60% of his time. Throw in the tools, truck(s), insurance, etc. then the hourly rate does not look as good.
Posted on 1/14/21 at 9:50 am to TulaneLSU
I prefer Gandalf to Jesus when it comes to fictional characters.
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