I've always been pretty frugal, here are my numbers: Salary: I save $4k per month ($8k net - $2k to rent, $2k for spending) Stock: I sell all of it as it vests and reinvest w/wealthfront ($6k per month) Bonuses: Save half (about $10k) rest is for vacation s. Go!
You vest stock monthly? I save about $4k/month from salary and have a side ecomm business that nets about $4k as wel that I donโt touch, so all in all $8k/month.
I wish I worked at FB. Your $10k monthly savings are my total monthly take home pay. After tax of course.
While I for sure applaud you for being frugal, itโs pretty easy to save money when you net that much. I have friends who have raised large families on far less in major metro areas โ thatโs when the rubber really hits the road.
It is a lot, I agree. I actually never thought I would earn close to it.
Anybody can save something at any income level. www.daveramsey.com
I assume your 8k is after tax, 401k etc?
2k on spending? Where do you live?
Total yearly comp 360k. Taxes 120k. Mortgage, daycare, food, cars, vacations etc 120k. Savings 120k. Roughly speaking.
I save about $120k per year. About $20k of that as contributions to 401k/IRA. I should increase that, but I like having cash on hand to invest in real estate freely. I spent quite freely. Approx $75k on credit card a year.
Would you have any advice for novice real estate investors who are just starting out? Always keen to learn how to diversify my holdings!
I just bought a home in SF. So only own 1 property right now. Currently holding over $600k in the stock market waiting to learn more about rental properties near college campuses and managing that
It's really more about the percentages rather than the raw amount
Save between 401k, Roth IRA, HSA and taxable accounts at ~82,000 per year, not counting RSU (future house down payment @ 150-300k, however stock decides to go). Current net worth is now past 600,000 I hope to get into multi millions in the next decade, that is with a conservative 10 year yoy average of 5% gains per year. My future self will thank me for the option not to work, whether itโs by choice or not.
How old are you if you donโt mind me asking?
Between 25 and 30. No college. Working full time since 18. My childhood was literally on computers, turns out people pay you a lot for that, especially if you are good at it.
Tech Industry
Yesterday
565
The new Tesla Model 3 P goes from 0-60 in 2.9 seconds
India
Yesterday
408
How to save India from destruction?
Tech Industry
Yesterday
1731
TESLA UP 14% AFTER HOURS ๐๐๐๐
Tech Industry
Yesterday
209
[intern] Worst team at databricks or best team at ramp
Tech Industry
Yesterday
4138
11 offers to laid off[UPDATE]: 5 offers
"Go!"...wait, is this a race?
More like a call for answers :)
There is always a race in the tech world. Welcome to the shit show