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Nope. I’m done. This is enough.
I never thought I’d get to a point where I was making in a month what my single mother made in a year. It’s overwhelming and crazy and if this doesn’t make me feel secure and full-filled, literally nothing will.
I’m now devoting the rest of my life to taking trips with my mom. We made it!
💯 ^^ same! I was elated at $140 (more than my entire family combined…..); at $220 + LTI, I can support every cause I care about, help my family cover gaps, travel wherever I want and treat my loved ones. Life is great!
We’ll make $400K this year in a LCOL area. We have two young kids and I don’t ever worry about money and know that we are very well off. But you definitely get used to whatever you have. And lifestyle creep is so real. We max out our 401ks and save about $2k extra per month. I guess this is what being “rich” feels like, but I don’t feel rich.
That said, I’m also not going around talking about how “hard” it is to survive on $400k or how other people “just don’t get how expensive private schools are.” I’m blessed and thankful.
I feel like because we can never guarantee a great return on investment from private school (kids are all different and who knows how they will turn out regardless), a good quality public school is the way to go. Plus, I want my kids to work for their college tuition, no free ride from us.
Our household is about 350k and I'm the primary above 250k alone. Just had our first baby girl. Yeah, childcare and wanting the best for them, I want more. Looking at moving to SF, if household could be 500k per year would be comfortable.
You’ll likely need more than 500k to be comfortable in SF, to be realistic. The amount of wealth here + limited housing supply has led to absurd housing prices, even pandemic era with remote work.
There’s just too many people making 500k+ a year in tech…something that doesn’t really happen in other areas where the only people that make that amount (or even anything close to it) are successful entrepreneurs, specialty doctors, lawyers, high-level execs, etc.
Here in SF, MBB is an OK job, not a great one from a compensation perspective.
We make $250 combined with two kids outside of DC (45 min). We would be totally fine with making this amt forever…. We take jobs we like enough & have a good life balance. We focus on our time with family & helping my parents. No need to work too hard to make more, but also won’t be quitting anytime soon
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275k is my personal number that once I hit I won’t stress anymore to aggressively go for more
Rising Star
Tough question. I make $355k and my husband makes $450k. This level of pay is new to me and only something I achieved in the past year. We’re in our 40s so I feel like we have some catching up to do since we don’t own a home yet and don’t have as much saved for retirement as we’d like. I don’t have a number I’m trying to achieve per se, just other milestones that require money.
Another thing that keeps me yearning for more is that my company posts the base comp, cash bonus, and annual equity grant for the next level. It definitely acts as a carrot that’s being dangled in front of me.
250K is not that much if you understand the progressive and punitive nature of our tax code. I have saved 100k cash in a year making 300k and if you're not accumulating wealth at this income level it's your fault. I don't think you're without financial cares and stress until you have banked enough to retire or do your own thing. So it's your choice to get retirement / freedom money banked ASAP or take the average paced path. More income just helps you get there faster. Every penny beyond 250k should be lifestyle or investment money.
We make over $300k but we have two kids. Yes definitely still don’t feel like we are “all set.” A lot of that has to do with saving for them and also ourselves in the future. After taxes and inflation over the past year, $500k is the new $250k IMO. But we have a great life and feel comfortable.
Made $1200K YTD. Owe like $400k taxes for this yr, leftover cash is reinvested elsewhere. Trying to hit $10M liquidity before quitting my full time
Well about 1mil is made between October and November so that should fall within fourth quarter I imagine
Yes, because I’m in an environment where I’m surrounded by people who make even more and the head honchos are worth 9 figures. Carry math incentivizes staying in the job even if you don’t really like it, and a toxic zero sum mentality with coworkers.
Also doesn’t help that we write 5-10M checks on a regular basis haha
Given the seniority of the folks you’re surrounded by, do you think they respect your opinions? Obv they hired you, but still curious
I don’t even know how to get to the 200 mark - and that drives me nuts.
I lead a large team and I’m paid peanuts.
Hit me up.
Was raised by parents 350k+ HCOL, currently 80k mid COL fresh out of college. I feel richer than ever. I feel like kids can just cost whatever you have available .
That is so true. My husband's cousins family has four kids in an expensive part of California. They make less than 100k, family is happy, well fed, well taken care of. That is success.
My measure of freedom is I don't have to penny pinch at the grocery store and that a $250 speeding ticket doesn't make me worry about making rent (which, at one point in my life, was the case).
Now, trying to teach my kids the same. So hard when they are in such a privileged position and surrounded by those even more privileged.
Just crossed this threshold. We are stopping worrying about paying for kids meds, but will still have to worry about kids college. As far as lifestyle changes, we're planning on moving in two years and will likely trade up and closer to Boston. There isn't a keeping up with the Jones being done here, but we are streamlining our lives to decrease stress. Also, we've booked next year's vacation. But, like others have said... right now, we're still trying to maintain our existing lifestyle and focus on the savings.
450k HHI in a LCOL area.
We live almost exactly the way we did when we made $200k in HHI. Honestly since we starting having kids, our lives are pretty much about them now. And we love it.
My goal is to retire in my 50s. Beyond that, I do not feel like I want for much of anything.
The more I read these comments, the more sad I get knowing that I have been trying to find a new role since I finished my Masters last year at Notre Dame. I have been a Partner doing Strategy and M&A Advisory at a very small firm since I left Inv Banking in 2012. I am very depressed and giving up on consulting after trying a couple of the Big 4 and MBBs even for positions at Snr Mgr/Director as I have been told Partner is nearly impossible especially when you are coming from a different country (my ex KPMG colleagues are currently Partners). Tried a couple of industry roles in Banking & Tech. Quite a number of roles where I got referrals in Tech, the feedback is that I am overqualified for the role.
I have read the most dehumanizing comments from senior recruiters at these Big 4. A senior EY recruiter told me I m not qualified for Mgr/Snr Mgr because my experience is in a different market. Got the same feedback from Deloitte last year. PWC Strategy& in FS keeps rejecting me for roles I know I m suitably qualified for at Director / SM levels ( rejects within a few hours of applying). Even when a friend posed with my exact resume using his identity as someone from a different firm (Big 4) for the same positions I was rejected for at PWC, he was contacted by the recruiter for the same positions I was rejected for. KPMG was the only firm that gave me a chance and the only issue at the time was that I am not a PR or US citizen I have had to self petition this year for EB-2 NIW (individuals with exceptional ability, got my petition approved with am EAD and waiting for my GC next year.
Honestly, I really feel racism and profiling bias has played a major role at most of these big firms and it doesn't look things are improving though most of these firms' CEOs stupidly came out last year claiming to support diversity and black professionals.
Yes. Take a longer term look, inflation and living cost (housing, healthcare, etc) will continue creeping up. Your compensation needs to match or exceed the creep to maintain lifestyle, even if you live frugally now
I don’t make it yet, expect to reach there within 5-8 years though. Depends on how inflation/cost of living works out by then.
Of course! I make ~$220K a year, I want to make double that. Hopefully, soon.
You are also 3 years out of school
I’ll always want more. Why settle? Inflation doesn’t.
Until an unexpected emergency happens, but to each their own. It’s not my money.
I was making this, thought it was more than enough and ended up taking a paycut/moving to a job with great wlb (though what I'm making now is also 'enough')
Make 200k and I don’t think I’ll feel it’s enough unless it’s about 500k
Too much is never enough. Just get comfortable that for some people that is life, the aspiration switch is hard to turn off.