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Over 40 in Consulting

Does anyone think that they will die broke despite being in consulting?

likesmart
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I sacrificed wealth for happiness. I was making incredible money and depressed to the point when I had a mental breakdown. I made a pivot to focus on cultivating a relationship, getting married, having children, and completing my PhD. I may not be an MD, but I’m my kids hero. And that matters more than anything.

likeuplifting
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If you need to go to a residential nursing home when you get older, you will die poor. No matter how much you save, they are designed to vacuum money from your accounts so Medicare takes over payments. Your best bet at that point is to put money in a family trust and find a relative that won't empty out the bank account on you. This is currently happening with my mother-in-law, so it's not just being hyperbolic.

likehelpful
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I'm not at a premier firm and spent most of my career in the wrong places for getting rich. But I've always lived within my means. I started early and saved a big percent. It honestly took me about 25 years to go from broke college grad to what at least to me, feels like rich. You have time and means. Decide on your priorities and act on them.

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Yes.

like
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No, but focusing on growing wealth now while my earnings are strong... Don’t want to take for granted that my career trajectory will continue. Lots of things are outside of our control. Good to play it safe..

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Yes

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👋🏽

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