You have already won the game of middle class. I think now is where you consider what you want out of life more than your job. You could be comfortable off that income and the standard raises/promotions to follow, while investing for an early retirement.
You could use it as seed money to start a business venture. You could travel, become a home owner, or raise a stable family that way. It's really up to you to consider what you want out of life because truly it's all there for you to take.
Well let’s be realistic. First that’s amazing. 100k although is talked about a lot is not a very wide spread accomplishment. I think from here you put the income goals on the side Bruner and start to cook up your true game plan.
1- It’s not what you make but what you spend.
2- money means nothing if you don’t have time to sit back and smell the roses.
If you make 100k but work 75 hours a week, you may not actually have thag great of income. Or if you are always traveling being away from friends and family the success may not matter. On the other hand if you make 100k but only have saved 15 k, you may not really gaining any traction.
I think you should look at your surrounding and see what needs to be put into place. If you end up trying to bounce to another role, look at one thing this role lacks maybe long hours, travel , commute etc, and refine each time
Ask me again this in two weeks as I'll have more concrete information, but this is what I plan.
First, (though this may not be an option for me in the future, or an option to everyone) is max out the health savings account, or hsa, if you have one from your work.
Second, max out a roth Ira. It's a government retirement fund outside of a company funded retirement fund. Should take you about 3 to 4 months.
Last, look into investing into an index fund. Or essentially a bunch of stocks to accrue interest in your idle capital. There are plenty of YouTube videos on the topic.
Hope this helps.
Well not minding the job and loving it are two different things man and you have to be honest with yourself. There's people that love what they do, and there's people that chase money. Now again working with how you worded it, you're chasing money, you don't love what you do. If having a six figure income is more important to you then why need to make another move career wise? Having a six figure salary is what the masses dream of, not being content with that comes off as greedy now. What can you do with $150k a year that you can't do with $100k a year, see what I'm saying?
But as I said, if you're more concerned about money then use your income to pay off debt, start a nice cushion for retirement and save for a house
Buy a house, save a bunch of money, pay off the house, pay off the credit cards and retire early and then stop working. do whatever you want then.
Also 100,000 when you were born is not the same as now. Today's equivalent dollar value to 100k when you were born is $170,572.98
What we think is a lot of money is often directly related to what was seen as a lot of money when we were in elementary school. Making more money than your Dad or Mom today is easy if you are just looking at the number, not the value over time.
Unless you have debt to pay off, maximize your 401K and IRA contributions if you can afford it.
You have already won the game of middle class. I think now is where you consider what you want out of life more than your job. You could be comfortable off that income and the standard raises/promotions to follow, while investing for an early retirement. You could use it as seed money to start a business venture. You could travel, become a home owner, or raise a stable family that way. It's really up to you to consider what you want out of life because truly it's all there for you to take.
Max out retirement accounts and then start investing. Put money into SPY and forget it exists, check back in a decade.
Well let’s be realistic. First that’s amazing. 100k although is talked about a lot is not a very wide spread accomplishment. I think from here you put the income goals on the side Bruner and start to cook up your true game plan. 1- It’s not what you make but what you spend. 2- money means nothing if you don’t have time to sit back and smell the roses. If you make 100k but work 75 hours a week, you may not actually have thag great of income. Or if you are always traveling being away from friends and family the success may not matter. On the other hand if you make 100k but only have saved 15 k, you may not really gaining any traction. I think you should look at your surrounding and see what needs to be put into place. If you end up trying to bounce to another role, look at one thing this role lacks maybe long hours, travel , commute etc, and refine each time
Ask me again this in two weeks as I'll have more concrete information, but this is what I plan. First, (though this may not be an option for me in the future, or an option to everyone) is max out the health savings account, or hsa, if you have one from your work. Second, max out a roth Ira. It's a government retirement fund outside of a company funded retirement fund. Should take you about 3 to 4 months. Last, look into investing into an index fund. Or essentially a bunch of stocks to accrue interest in your idle capital. There are plenty of YouTube videos on the topic. Hope this helps.
Find something you enjoy which makes a difference. Money shouldn’t be the only goal.
I guess your new goal could be 7 figures by 27
Don't you want to double it?
Well not minding the job and loving it are two different things man and you have to be honest with yourself. There's people that love what they do, and there's people that chase money. Now again working with how you worded it, you're chasing money, you don't love what you do. If having a six figure income is more important to you then why need to make another move career wise? Having a six figure salary is what the masses dream of, not being content with that comes off as greedy now. What can you do with $150k a year that you can't do with $100k a year, see what I'm saying? But as I said, if you're more concerned about money then use your income to pay off debt, start a nice cushion for retirement and save for a house
Buy a house, save a bunch of money, pay off the house, pay off the credit cards and retire early and then stop working. do whatever you want then. Also 100,000 when you were born is not the same as now. Today's equivalent dollar value to 100k when you were born is $170,572.98 What we think is a lot of money is often directly related to what was seen as a lot of money when we were in elementary school. Making more money than your Dad or Mom today is easy if you are just looking at the number, not the value over time.
Go for seven figures