How is it that my salary is $120k but net worth is only $25k? 🤔I am saving but I need to invest more.

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120k is nice. U a SA? Trying to get a sense of the market

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ZS1, I'm curious as to how you expect to save 30-40k a year. After I pay housing / bills, I have roughly $3500k to spare. That doesn't include food, car, gas, entertainment, etc. I usually aim to save about $1500 a month. That give me roughly 18k a year. To save 40k, I'd have to save the entire 3.5k each month. In your numbers, we're you including your retirement accounts in your savings number?

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Do you have debt or loans?

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A1 are those b school loans ?

Ha! I wish. Its undergrad. I got my MA for free.

A2- check out the post about Accenture salaries. It gives you a great sense!

Damn where's that? I kept scrolling but couldn't find it

P2 what's your level?

Live in the same one bedroom for about 10 years. Great location. I can't justify moving out and paying 3-4k. NY is expensive.

Was from 2 days ago. Literally calls out Accenture folks to tell their level number and salary

Where do you guys live that you pay that little in rent??????

A1: I was in a great building in midtown east close to grand central. 😉

I want in! I pay 3 for my 1 bdr 😭

East 40s 1st avenue.

Nice I'll check that out, is it only bc the train is far from first avenue?

Yea but those apartments are the size of my closet lol

You're right. But still wouldn't move there. My lease expires in October. Looking for something more reasonably priced. I'm making $115k + loans + rent. It's killllllling me.

Acn1, u pay 3k on ur own??

That's how much I saved each year starting from a $70k salary in a moderately high COL area. Started with -$20k nw 3 years ago and I'm at $80k now, so I'm more than certain it's doable on a $120k salary.

Think if you were operating like a business - your net worth = some imaginary multiple of what your net profit is. Now that imaginary number could be highly unrealistic or inflated in startup world - I guess the VCs ability and desire to take risk justifies that higher imaginary number. Now bring back the focus to you - a consultant in big 4 who is most probably doing something that he/she doesn't like, is not going to be an expert of anything in couple years and will have no skill set but a generic good for nothing consultant - long story short you have ruined your chances of higher imaginary number and probably gonna be less than 1 times worth what you save. Now you know how to arrive at that 25k

Yes I'm counting retirement accts. I usually max out my 401k and Roth, which is $28k right there. Also, my bonus goes straight into savings as well. I was saving closer to $30k a year when i was at a $70k salary but now I'm saving closer to $50k a year.

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