30 Years old and nothing to show for it...
No cash in bank in the bank at all, No house and not successful in my career which causes stress about work. Barely enough money in my 401k to allow me to survive for 6 months if I end up jobless. Not living lavish or beyond my means. The 30k I made in the stock market was lost in crypto - fml. I know I’m being an asshole, I know people that make 1/3 my compensation that are also surviving. But the longer I live paycheck to paycheck the more I feel as a slave. I don’t see myself saving money for my children schooling or their future. Mostly happy otherwise! Any suggestions for a solution? Thinking therapy may help or maybe coding bootcamp? TC 100k - non-tech -Seattle. Happy holidays!
The advice I have for you is: 1. Appreciate that you are still relatively young and have plenty of time to improve you financial situation 2. Don’t worry about having a house until you are financially stable. Having a house makes it difficult to move quickly for higher paying job options so keep that in mind. 3. Stay away from crypto and invest in index funds while keeping a stash of cash in hand
Thanks for you advice!
I agree with everything. Also, you can try selling covered calls in an IRA over your index funds. Do not buy calls till you're making at least 250k a year. Selling them is fine. 100k yearly is not bad. Here are a few things - Do you cook? learn to cook yourself. it also helps if you date, trust me ;). A single meal will cost you $3. Cook on the weekends and store it. probably cook once in the week too. This will save you a lot. Live with flat mates. A 3 bedroom apartment shared by 3 is much more cheaper than a studio or 1bhk. Additionally, they will become your friends.
More TC solve all issues. So try what ever you can to move to a technical role. Once that TC triples within the next 7-10 years. All of your problems are solved.
Any thoughts about how I can transition, maybe a good Book, blog or podcast?
^^ Leetcode.
I interviewed with Expeditors. Kinda glad I didn't get in, seemed odd. Not at Cisco either btw
Believe it or not, I didn’t have any better choice!
I know people who make as much as you or even less in both Bay area and Seattle, but they are able to save, and do the things they want. Buying a house might be a bit out of reach, but with a partner who makes as much as you, you should be able to afford one. Living by yourself with less than 100k salary is super hard and I don't think I would have done it here. If you don't have roommates, get some. Living in a big house might be super affordable. I know couple people at work who pay $600 a month for rent, and I'm sure you can find deals like that. Once rent is done, then I say saving should become easier. This is just my honest opinion, and I wish you best of luck.
Yes, that’s the problem, my partner is full time with the kids. And we have kids so, a deal on rent is not really an option.
You're representing a cautionary tale I was worried about with regard to Seattle. I lived there for years and work in tech but raising a family I was worried that in order to feel successful there anyone really does need to be in tech. Housing prices, even with current corrective directions, practically require dual income even with tech salaries. Looking at the kids who are coming out of schools there, even if they're in what is an objectively fine situation, feel like relative failures if they're not on track to be employed in a tech role. Super sad. Consider what it is you're getting out of being in that area. Is it worth it?
Cheer up. I was easily in a worse situation than you at 30, but things turned around. Hardest part is keeping a positive mindset. And yes you are still better off than most, as you pointed out. Do not use that 401k money for an emergency. Don’t touch it, except to move it to an IRA when you leave the company.
Very difficult as non tech in Seattle, I had similar issues in my late 20 and early 30, now 7 yrs later have big savings. This is what worked for me. Open excel and figure out incoming vs outgoing cash. Outgoing has to be less than incoming, at least 30% less. Also Read i will teach you to be rich , plan for long term not this crypto bull shit. You can only play with risky assets if you have money to loose.
At 30 I also didn’t have many tangible goods. It gets easier. Your 30-50s are your money-making years, especially 50s
Get over it. At 30, I was broke, but had just received my bachelor's which took 7 damn years to get. I now have additional degrees and finally am stable as hell with an evolving career that pays well...despite having to restart my 401k at least 4 times in my life. If you want more, go get it, don't whine because you think you're old. You're not. Theres always today and tomorrow to leave your legacy.
More cheese 🧀,less whine 🥂
No family, friends, or stories? That's all that matters.
^ I have great career but none of these and am miserable every day.
I'd probably give like $20k to have one real friend I can talk openly to