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I've worked at the same engineering firm for 4 years. I'm currently making $161k with only a $750 bonus, but excellent vacation (4 weeks, cash out anytime, rolls over indefinitely), 45 hours a week. I have an interview with a recruiter at Guidehouse this week for a Technical Project Manager role. It seems to be focused in the government space and requires a security clearance. What sort of salary and benefits could I expect for this sort of role at Guidehouse?
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Reddit/Financial Independence & Mr. Money Mustache. I prefer the former, but good knowledge from both. check out the Reddit page, trust me.
Don't live in NYC, SF, or another big city. You can do this consultant thing from any mid sized city and save bank on rent and Mortgage
24k in total expenses per year??? I pay 50k for childcare alone.
Live near Detroit, my mortgage is 385 for a 15-yr fixed. I rent out one of the bedrooms for 450 and we split utilities 🙌🏻
My SO and I are both planning on walking away from work the day I turn 45 (if not sooner). I'm focused on building savings and investing in index funds and he reinvests all of his $ in rental properties. We're already bringing in almost $9k in rent/month with about 400k in the bank/market (although majority is in retirement accounts) and we still have 14 years til I'm 45.
I echo pwc 1. Eye opening info on reddit
Live in midsize city, save aggressively. Move overseas to low cost area on retirement (Chile!)
Should be very doable. I save about 65% of my income, and with just 3% salary increases, 3% inflation and 5% investment growth, I'm projecting a 41-42 financial independence date. If you're frugal enough (roughly $24k in annual expenses a year), it's absolutely doable.
I take a vacation every 6 months (on average), largely funded by points and churning. It's a major east coast city. I pay $1200 rent. I try to stay in cheap airbnbs. I generally save per diem specifically for this purpose.
^ill admit I don't have kids, which definitely helps and which my model doesn't account for (I'm a bit under 30). But in any case, the point is that financial independence before 50 is very doable on our salaries.
Live in Cleveland. My rent is $500 a month.
OP how old are you now?
.
28
Save. A lot. Start at 22. Invest well. Start a company of your own. Sell it. Get a little lucky.
Otherwise, plan for 52 or so.
What city Accn? And how often do you travel the world in personal time/dime with those low expenses?
Good deal, D5