Hi there - new to the bowl. For those that have pretty large savings/investment account balances and net worths north of 300k or even 1MM under the age of 35, can I ask how it is you’re accumulating? I have a 90k salary, living in NYC. Trying to max out retirement accounts, net worth of approx. 150K+. There isn’t much room for extra savings after-taxes and expenses etc. Is my most important goal to seek a large pay increase? I don’t see how else I can accumulate as exponentially as others. TIA.

like
Posting as :
works at
You are currently posting as works at

The most important investments you can make are as early in your career as possible. I started out making $50k and make 120k now, but my net worth reflects a financial state far higher than these salaries. I saved as much as I could early (starting out only 10k/year) but invested aggressively allowing my investments to compound early. While I enjoy my career and make good not great money, I’m far more focused on growing my investments than my salary. A high salary may equate to a higher standard of living, but net worth equates to financial freedom for life

like

It sounds like you’re on track and doing a great job. Consistent salary increases and specializations on the job will further propel you. Maybe look into some approved side hustles or part time jobs, but B4 usually aren’t flexible with those and independence risks.

Keep saving and growing passive income. Gl!

like

Honest. Answer ? Get out of nyc. Raise income and keep saving.

like

Near-term goals include buying a condo, increasing cash/investment balances, hopefully find some decent side hustle...
27 Male. Single. HCOL NYC. 90k pre-tax

Seems like you’re doing very good. Like others have recommended, consistency and focus is key.

You're doing a great job, and increasing your salary while maintaining the same lifestyle will help considerably. With some exceptions for key life experiences, I froze my budget at the salary I made ten years ago because I was happy enough at that level, but I continued to pursue career growth opportunities. There are plenty of people who make more money than you who have saved less because of lifestyle creep

Need a step change increase in comp while holding off buying a condo that’s a money pit (monstrous HOA/taxes/insurance/etc.)

Related Posts

Requesting people to share their comp. I can start first. Role: Developer YOE: 2 Base: 100k

like

Could someone give me their budget breakdown when they were making less than 100k?

like

How much can salary ask be for Associate consultant job role?

like

Hi all, I need some advise. I am coming up on a one year review for in a medium size company in Oregon. I work as an HR manager (department of one) but essentially am working as a director of operations taking on much more than HR related tasks. As my review is approaching, I was hoping for insight on salary and how to handle a role restructure during this meeting. Currently I am making $56k with 4 years relevant experience (but not HR). Any feedback is appreciated. Thanks!

like

A hypothetical: you inherit $250K from a family member. No consumer debt and a mortgage under $100K.

What would *you* do with it?

like

I am sick of being a realtor! I've been trying for 5 years and have only sold 3 houses. Where I'm from (small Southern town) nobody is buying. Most people's families already own homes and it's just a bummer to see all these nice houses deteriorating over time.

like

MBB folks, have your firms confirmed any raise/bonus/promotion reductions, pay cuts, or layoffs?

like

Will cgi return my money of share purchase plan if I leave before one year?

like

When does salary credit happens for PWC AC Bangalore?
Around what time of the day?

like

got a CIS form filling link from cognizant, what it is.. i am experirenced java developer...interview clreared at cts and also had salary discussion

like

Hello licensed clinical social workers. Do any of you work on an on-line platform you are happy with? Looking to make a change. Mainly the issue currently is fair compensation, including getting paid for no-shows. Thanks!

like

Does anyone work as a Client Manager for WTW (Willis Towers Wilson) in California? Particularly Los Angeles, Irvine, Orange County? If so, what is your offered salary? Would love to know other Client Manager's salary as well within other companies in these areas so I can get a better idea of the market! Thank you in advance :)

likehelpful

Hi fishes 🐠 🐟🐠🐟🐠🐟
Has anyone joined Accenture early to get joining bonus?
I got mail like if I join by this month end I will be getting bonus as appreciation kind.
And amount they are not disclosing until I confirm my joining...
Please suggest me what to do and how much I can expect.
Level 10 I am joining.

like

Hi Folks,
Just joined
Accenture India
Any suggestions on how to structure the compensation plan.
No investments at the moment.

LTA options - 0 ,13000 or 26000
Eps option - should we take Or leave it
Pf total deduction from ctc - 0, 3600 or 10000

Anyone with suggestions, thanks to them in advance

like
like

Hi Fishes, In my kpmg india offer letter they have mentioned Performance Linked Bonus , so what % is the minimum i can get for sure from that amount and when will i get it?

like

Anybody transition from Audit to Advisory within the same firm? 1) Who did you contact and did you have to interview? 2) how was the overall process? 3) was there a salary adjustment?

like

What should be the ideal compensation for senior ecommerce manager generating 10 mil USD

like

I have received an offer for a Sr. AI Consultant at Deloitte in NYC. Could someone in the role or in the AI practice answer some of my questions related to projects, travel and comp increase on promotion. Thanks!

like

More Posts

likefunny

How long to get SPG points for delta cross awards flight? It’s been 2 weeks for me...

like

Need a referral for Bain Toronto. Happy to explain why I am asking for a referral on fishbowl instead of networking on LinkedIn in a dm. If you feel, reason is not good enough fee free to ghost.

like

What is the best way to get a salary increase once you've obtained an outside offer? Anyone have any experience with this within the big 4? What is the process? How long does it take for them to get back to you with a counteroffer? TIA

like

Masturbation has saved many existing marriages.

likefunnysmart

Idea: I noticed my signs along the road get taken away but political signs don’t.
What if I make a political party for my company so my campaign signs (ads) can’t be taken down legally? Anyone here know why this is a dumb idea?
Thinking about doing this in both my stomping grounds (NY and Ontario), businesses include a real estate management company and landscaping.

like

Have we actually made any significant advancements toward developing nuclear fusion reactors, or is it still a pipe dream?

like

Hey all! I am currently a student in my final year of complete a Computer Science undergrad degree and am currently looking applying to remote college graduate positions in software engineering/development. Does anyone have any advice for landing a position (or a position they could help me land <3)?

Post Photo
funnylike

I got an offer to work at a Gensler office, but something has come up and need to move/work in a different city. Can I ask them to transfer me before I accept the offer? Will they do this if there is the same role currently open in the new city?

like

Curious why they always ask "where do you see yourself in 3-5 years in an interview?"

What's da reasonnnn

like

Were you meant for better/greater things than where you’re currently at?

likefunny

Hi all,
I’m looking for recommendations for entry level/ junior data analyst positions. No preference in work environment or location. Just looking to kickstart my career in analytics. Please let me know if you can recommend me.

likehelpful

How do you stay motivated as an attorney? I've lost a number of cases this year and I'm finding it hard to see the light at the end of the tunnel.

like

Need Help! I’m trying to start a career in consulting. I have more than 10 years experience in management, shared services & migrations. Looking for Visa sponsorship currently in the US for training.

FRIDAY is my favorite day of the week. By Friday night everyone is burned out and sure to leave you alone, even if only until Saturday morning 😅 happy Friday y’all

likefunny

How do you read text-heavy documents when on stimulants? I find it difficult to focus after day 2 / 3 on stimulants but somehow on Modafinil and coffee much better at reading and speed reading

like

My close friend has been more stressed about things lately. In the last 1-2 years I notice her increasingly complain everything and act cranky and rude to me and other people (unintentionally) often.

Will training be provided for level 10 lateral entries?

like

Ad Ops folks: what are your suggestions to improve workflow and delivery?

like

I’m in Chicago with three sub par IVF rounds under my belt. When did you know it was time to try another clinic? I know the grass isn’t always greener on the other side… CCRM in Denver, is it really all it’s cracked up to be?

like

Additional Posts in Personal Investment Chatter

Thoughts on MOON (etf)?

like

What do ppl think of DIDI?

like

Any hopes left in MGNI,XL,RMO,AI. Down 40% and thinking of averaging them. Lot of beaten down tech has recovered well in June but MGNI hasn't budged. Folks who are bagholders what's your plan.

like

Can someone tell me why money market accounts yield more than savings accounts? I have had a Capital One360 for 10+ years and current APY is 0.75%. Just realized Capital One MMA offers 1.30%.

Budgeting question:
I use excel to track savings(401,Roth,etc) that I want the YTD to update as I contribute ea month.
Not the best with Excel yet, but I calculate the YTD total by referencing the cell of the prior month and adding to the current months total box- is this the most efficient way to do this? Thanks!

funny

It’s a small thing, but a big win. After years of feeling financially insecure about an economic downturn, I’ve finally hit my emergency fund goal of $12k. Currently it’s in an Ally high yield savings. Any recommendations for better places to start it?
Happy Friday, y’all.

likeupliftinghelpful

Need guidance - I'm investing for the long run but can't help feeling rather guilty with the portfolio down 15-17%. How are you all dealing with this nowadays? Just ignore and let it ride/invest more/pause investing/sell?

like

All of the robo-advisors I’ve seen invest in low cost ETFs. Are there any that invest in individual stocks? It feels like this would be much more effective at tax loss harvesting because it would de-average the holdings within each ETF. I’m going to have large capital gains next year and I’m looking for ways to offset.

likesmart

Oooiiiiiiii I’ve lost so much money since the market has been down. Why are things so badddddd :(

likefunny

Good year. So close to that $1M networth. 44, Married (wife is a stay at home mom), 2 kids (15 & 12).
I wish us all prosperity in 2021.

Post Photo
likeuplifting

I owe around 130k in student loans, already paid 30k during covid. Currently I make between 77k to 100k with my side hustle and full time job combined. Interest rates for loans is 7% and they are federal so they're not accruing interest right now till august. I don't know where to go from here. 1) concerned that I keep paying and then we get it forgiven 2) thinking perhaps federal loans will change and the interest can become lower? I have cut most of expenses down especially housing.

like

Anybody do recent research on best HYSA rate? I’m looking to put $20k for emergency fund in HYSA and thought I’d leverage this group’s knowledge before doing a ton of research on my own.

likehelpful

Not sure this is the right Bowl.

Anyway, I work in Switzerland, employee for a local IT company.

Recently it became clear that the only thing I need for my job is a computer, so I asked myself: "is there any place where I would like to work"?

So I came up with Canaries (☀️🏖️🦀🩴).

But I don't understand, how taxation would work?

Would I pay taxes in both Countries? Here in CH they tax me at the source (i receive my net salary only).

Could anyone with a similar experience share it with me?

Post Photo
likefunnyhelpful

Which crypto exchange do you use and why?

like

Favorite resources (books, YT videos, podcasts, etc.) for beginners looking to get into personal finance? Looking for something easier to consume so I don’t get disinterested

like