With the higher salaries these days, wondering if I’m doing well for myself or if I’m just average

I’m 27 work remote
live in CO but would like to relocate to New England or back to DMV
80k salary w/ 4% annual increase and 4% bonus
40k babysitting / dogsitting (can’t continue if move)
10k from HYSA w/ 240k in savings (not including 20k in 401k)

Additionally I’d like to start investing but is that still a thing? How do you start small?
I’d like to buy a property but is that light years away?

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

Impressive you’re making 40k dog / babysitting!!

like

What about retirement accounts? Putting $ into an IRA, HSA and upping your 401k contributions could be a small way to start investing.

likesmart

You’re asking if investing is still a thing? How would it not still be a thing?

like

And keep putting the max into your 401k!

like

You have missed out on a 6 figure sum of money leaving that 250k in HYSA rather than in the market over the last 2-3 years.

likesmart

Relocating to (assuming) higher COL and also losing 40k/year in side side gigs may hurt.

You should start budgeting now like that has already happened to feel the changes before you move.

You have $240k in cash? You could start investing small with your $240k by dollar cost averaging into ETFs. Homeownership also doesn’t seem that far away if you are liquid $240k.

like

If that’s $240k cash you can definitely buy a house but it may not be the best investment depending on where you live and what your goals are.
Don’t worry about getting fancy with investing. Lots of strategies but the easiest strategy that’s been consistently successful is investing in ETFs and index funds regularly. (Google dollar cost averaging)

You’re doing well , keep up the solid work.

like

Move most of your money from HYSA to ETFs (VTI, VOO) and then be patient. A3 is correct that you’re leaving huge sums of money on the table by not investing.

I think your salary could be higher but being remote is a huge plus. Curious how many hours you put in to get 40k? That sounds like a nice side gig

like

As someone who lives in CO and loves it, I’d be hard pressed to move to a higher COL and lose income in the process. Can you just use a bit of your extra income and travel back a bit more often?

I’d definitely recommend starting to invest in the market- higher returns over time than HYSA/savjngs.

like

Hi there! If you’re looking for other opportunities for financial freedom, id love to chat!

like

I tried to message but it says you’re not available to chat.

like

It’s not clear. You break up the 10k and 240k for savings. Is this all not in a HYSA? What’s interest rate on savings account?

I would focus on keeping about 6 months worth of expenses liquid in the HYSA and the move the rest of the savings into a brokerage that you can set up at fidelity or vanguard (I do voo/vti).
If you want to buy a house soon, I would make sure the money is in a HYSA.
Either way, I would start adding more money into your 410k if there is an employer match. And do the Roth IRA. I think you earn below the threshold.

Your savings is high but you should also make sure you are putting money away for retirement.

Related Posts

Cheers to all my colleagues who went to community college!

Post Photo
likefunnysmart
like


Am I the only one who fears a third world war is among us? I've been studying the circumstances that led to WW1 and WW2, and let me tell you, we're not as far as they were. I hope the better judgment of people avoids such a catastrophic outcome.

like

Bets on how much longer Gary Cohn will last in the White House... go!

like

Why do partners tell associates to be cost-conscious when billing for certain clients when they can just cut your hours on the back end?

like

Pwc salary structure? Benefits

Urgent

like

Is 49,000 a fair starting salary for a scientist 1 with a B.S in biology in Philadelphia?

like

Yoe: 3.5 Tech stack: .NET+Angular I hold 2 offers: Hitachi Energy (Chennai) - 12.5F+2.5V Siemens Healthineers (Bengaluru) - 16.5F+1JB+1.5RB Which is best in terms of wlb, hikes and growth?

like

Who should I speak to about switching positions within my company ? HR Account AD/Supervisor ?

like

I have received an offer for Tech Consulting - CS&A department at Senior Consultant position.
Qs-
1. What exactly is CS&A?
2. With almost 7 years of experience (5 years relevant to the profile), is Senior Consultant position appropriate? If not, what should I ask for.

Thanks in advance.

like

I'm a young professional finishing my first year of my career. Last month I opened a brokerage account & invested $4000 in the stock market. I'm planning to invest at at least $2000/month every month now with the goal of creating a passive income stream. Do any of you have experience with a dividend growth strategy? How did you get started?

like

How many days it will take to release offer in HCL after HR discussion????
What will be the process after HR interview in HCL???

like

1.What are different band levels in LTI?
2.Is senior specialist level above the manager level in terms of payscale/destination?
3.What does working in salesforce vertical looks like & onshore opp. for US visa holders?
4.Avg hike / variable pay per year?
5.What is the notice period in LTI?
6.Any hidden components included in salary that can be avoided or restructed before joining?
7.What can be avg hike for 9 yrs of Exp in senior specialist track?

Thanks in advance,it will cover most of the quer

like

Tips for becoming more independent as you progress from junior to midlevel? I am starting to be put into the position of just having to handle things including drafting and could use some advice from others.

like
likehelpful

I have 3 years of experience. Got selected in HCL.
I have an offer from Nagarro of 15 LPA, but HCL is saying we will 16 LPA, more than 16 LPA will be over budget for your experience.
How much is salary for 3 years experience in HCL?

likefunny

What is pilot roleout program in Capgemini, I received for B2 consultant.
It consists of assessment and learning of different topics.

What is it's significance and what impact does it have if you have cleared or failedCapgemini

I have a friend moving to North Carolina in a few months. Does anyone know what the salary range is for a Commercial Banker job grade 10 at Fifth Third?

like

Additional Posts in FIRE Financial Independence Retire Early

I'm a young professional finishing my first year of my career. Last month I opened a brokerage account & invested $4000 in the stock market. I'm planning to invest at at least $2000/month every month now with the goal of creating a passive income stream. Do any of you have experience with a dividend growth strategy? How did you get started?

like

Single and childless but would like kids. High income and maxing out all tax advantaged accounts I can but was thinking of starting a 529 in my own name to be transferred to future kids. If I don’t have kids maybe transfer it to my nephew. Thoughts, pros, cons?

like

The unending cycle is for real. Reached my LeanFIRE number 2 months ago, yet I don’t feel satisfied. Still reaching for the stars… when will this human desire end?

like

Question about what to do next. I’ve maxed out everything—401k, HSA, IRA, backdoor Roth 401k. My bills are all paid. I’ll probably make about 16,500 more this year to do stuff with (ie money that isn’t going to taxes or insurance or anything). What should I do with it? Crypto? Set it on fire? Get a hair transplant?

like

Should I move to another firm and take the higher pay (20% more) and do more work I’d enjoy doing and have better growth and long term career potential, while sacrificing my current title (would have to step down from associate to analyst), WLB, and team chemistry?

like

My monthly salary is around $6.4k after-tax. Living in NYC. Do you think it’s reasonable that I pay:
- about $1.5k on rent
- about $500 on utilities and subscriptions
- about $900 on student loan
- about $2k on food and etc.
My saving goals is around $3k so been trying to adjust my monthly spending.

likefunny

Best long term investment strategy against inflation to get to a large nest in for retirement?

like

Comment if you claim this coupon code. I’m not going to use it.

Post Photo
like

I’m maxing out my 401K, traditional IRA and HSA this year and paying for some house improvements. I have about $750K total investments and very close to $2M net worth, but realize that I am behind on investments if I want to do FIRE. I was focused on paying off huge chunks of my mortgage and managed to whittle it down to $75K left. Would you suggest I go ahead and pay that off this year? Or pause and do a mega back door roth instead? I’m mid 40s. Thanks!

like

Max out 401k before contributing to taxable brokerage? Roth IRA is already maxed out.

like

What’s a good, practical tax book to read for someone who knows nothing about taxes? I feel like I should familiarize myself with them but don’t know where to start/find the topic very overwhelming and dense even as a finance attorney. Welcome to other beginning finance book suggestions too! (Already read Kiyosaki and Ramsey)

like

For any real estate investors

22 years old and currently focused on using my left over income to invest and pay off my debt. I am set to pay off my college loans by next year and, when I do, I want to look into investing into real estate. Does anyone have any suggestions on how to get into/learn more about real estate investing? Or how I can have enough knowledge on the topic to be able to invest wisely when the time comes?

Any books? youtubers? etc. How did you all learn about it?

like

Is there a definitive guide to cost of living? The obvious cost of living centers (SF, NYC, LA etc.) get covered a lot, but I’m wondering where my city falls. It’s a modest Midwest city with ~100k residents but is a relatively touristy spot. It often feels like a MCOL area but I’m not sure how to adequately judge that, and it would be helpful to know when comparing salaries and the like.

Is an IPO in anyone’s FIRE strategy? Maybe this is specific to the Bay Area, but it doesn’t seem that unrealistic to negotiate enough equity to make $1.5 mill off an IPO. Or maybe I’m dreaming 😂

like

Anyone know of a good cross-border US/UK financial fiduciary?

like

I consolidated grad loans in ‘15, kept federal separate from private (w SoFi @6.75%). Can I refinance w SoFi or w Earnest? Should I combine the federal and lose the protections for better %?

Can someone help me with this? I had a low utilization since pandemic, I.e., ~sub 5%, but never missed any payments. Would credit score be impacted if only one line of credit with a low utilization?

Too few accounts currently paid as agreed
FICO®

Scores consider the number of accounts that are paid as agreed. Your score was impacted because the number of these accounts is too low, or because you've missed payments recently on some of your accounts.

like

Listening to Rich Dad Poor Dad and I keep expecting every story to end “and then everyone clapped” 🙄

likefunny

Pushing out my retirement date... Crypto down 60%, stocks down 30%.. I was a millionaire in Jan now only a 750kaire lolz. Just numbers on a sheet keep rolling

like

Turning 28 and hit $300K NW today. Never formally FIRE’d but want to set out a plan for here onwards. What’s some good material / easy reading to start with?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal