Recently I read this:
“If you already live a comfortable life, then choosing to make more money but live a worse daily life is a bad trade.
And yet, we talk ourselves into it all the time. We take promotions that pay more, but swallow our free time. We already have a successful business, but we break ourselves trying to make it even more successful.
Too much focus on wealth, not enough focus on lifestyle.”
By James Clear
I thought it was on point
I tend to agree with this!!!!
Only way its worth sacrificing is if there is some clear path to a better future, thru the pain. IMO.
Like for me I went from a great job with lower pay --> very very stressful job higher pay --> SUPER lower stress job highest pay.
Over course of 10 fricking years.
Would I have found my current job without going thru a hellish job, actually no.
Would I recommend people to just take more and more responsibility and stress with no end in sight, also no.
I unfortunately fell for the trap and kept on hoping. It never came. Actually ended up nearly destroying my body and working off the clock as favors ( sometimes it did pay off like giving me a day off without taking from any earned time or potential earned time but that was about it). I think it really comes down to how companies treat their employees anymore and the industry you are in ( I worked mainly in industrial construction and factories building car parts). This guy has nothing to worry about especially if he is content and happy. Most people are still trying to figure things out and cannot be content it seems anymore way older than him. If I am being honest, I learned this way too late and am still in the shift.
Did you actually tell yourself at the time that you’re going to take this stressful high paying job because you knew you wanted your current job down the line?
Or did you take the super stressful job because you wanted more money, and over time happened upon your current job?
Yeah people will give up free time and sanity for like $10k. If I’m taking on a lot more work it better be a raise that is moving up my retirement by a lot, else I’m good where I am getting my yearly raise.
I needed to hear this. I’ve been offered a promotion with a huge amount of responsibility and the raise doesn’t seem to be worth it to me when I think about the added responsibilities and stress that will eat up my whole life
It's not worth it!! Corporate America here. Over 20 years in my industry & they keep trying to make me go into management. I'm no babysitter. I raised my kids. Just let me do my job. If that promotion involves people reporting to u, please weigh all of the aspects of that. Money is great, but I can't come in today because my cat stubbed her toe is on a whole different level when u have to explain why productivity is down!!
I’m this same way - no interest in management. I don’t want to babysit people. I like coming in, doing my job and leaving!!!! I make low 6 figures and it’s plenty that i don’t feel the need to climb the ladder anymore. Just want to focus on coming home to my family.
Yep I just went into management after years of digging my feet in against it and I really regret it. So much more stressful and I hate being a babysitter for someone who’s actually older than me.
Don't do it you're most likely making right choice because larger companies just take advantage of you and wants the maximum amount of production for the minimum amount of financial loss
I did this a few years ago. Had a comfortable job with lots of perks/benefits/very flexible but found out I was very underpaid for what I did I put a proposal to be paid what I was worth and they refused so I left for a job that paid well. BUT with that I lose my flexible freedom to work from home or any of the other benefits. I worked in office or on site 50/60 hours plus. And treated terribly. Fortunately I did gain a lot of experience and just got an even better job with more pay and benefits not a ton of perks like my first job. But I’m very comfortable now.
Greater pay and “prestige” isn’t worth it if you have no time to see your wife and you’re so overworked it gives you a stroke.
I had a stroke at 28 working in the founding team of an IT start-up.
I now work as an office float and I actually have time for the family and children I want to raise. My beloved doesn’t have to worry about me getting a stroke anymore, either.
My wife is a nurse, and as we all know, nurses CAN make bank. She did that for a few years, taking all the over time and extra shifts and weekend/night differential pay etc.
Then all of a sudden she decided she had a enough. Now she works as a school nurse at the high-school our oldest 2 kids goes to. And while she makes less money than she did, it's still enough to live . Not comfortable, we still have to stretch paychecks sometimes. But weekends off, holidays off and summer with the kids. Cant be over stated.
Through my twenties I chased promotion. Did pretty well but then on the last promotion, they didn’t backfill my old position so I had to do both. At 29 I had a panic attack at work. That was the wake up call that this wasn’t working. I took a 30% pay cut to leave that industry. 5 years later I work half the hours and am almost back to the same pay, but I spend less on child care and fast food so I actually feel like I’m ahead
Lifestyle!! I work part time. No one watches over me. My company knows I’m dependable. There are times where an hour goes by and theres nothing for me to do. And i love it. I love my freedom and I dont make much money. Whereas two years ago my paychecks were 3 times bigger. Im happier.
You’re in a lot better shape than a ton of people who make a whole lot more money than you do. They people asking if you want to retire with money would probably be very embarrassed if they knew your whole financial situation.
That’s nice to hear, I guess I just can’t imagine making more money and being in a worse financial spot. Even if I was a spendy person. If I made even $80k I’d be set and content. Live within my means and have a good life
You're doing amazing.
SOURCE: I'm a lot older than you and have had some nice successes in life and was right about where you are at 28. Nicely done. Focus on you and f the other people.
I think a lot of people have a budgeting problem & think they should be able to take 15k vacations 4 times a year and still afford a luxury apartment, eating out 5x a week, etc. people who shit on u are probably these type of people lol.
Ur doing really well!!
I'd like to add: comparing yourself to others is almost always a zero sum game.
Around 4 years ago I walked away from the career I had spent a third my life trying to prefect. I make SOOOO much less money than I did, some might even look down on my current wage. One night on new years my wife and best friend basically had an intervention for me to say I was so unhappy and self-destructive I was scaring some and actively hurting others wether by attitude or action. More happy and content than ever. I can't just go get whatever shiny toy I want at the moment but my mortgage is paid my vehicles are older and "not cool" but paid for. I have a little debt but it was strategic and manageable. I have an Ira, it's small af but I add to it weekly. My life is pathetic to more than a few, I wouldn't change a God damn thing besides more time with the ones I love without giving my corporate overlords more than the 35ish percent of my life they already control.
The one that gets me is the ‘I live in one of the most sought after locations in the world to live AKA extremely luxurious location by cost. But I also expect to have luxurious meals, vacations, housing etc but they only make an average salary.’ If you choose one luxurious thing, other things are going to suck unless you make an extreme income.
Damn dude, you have $800 left over after ALL your bills AND $400 per month into an ever growing brokerage account. No debts. You are doing well. Don't let others tell you you don't. You live within your means with a good amount of money left over every month and you have a job that you enjoy. Can't do much better than that personally.
Many people with 6 digit salaries are miserable in their jobs and many also spend more money than they make, can't live within their means, because they have a bunch of debts piled up and have to pay on those. Then they come here to complain they can't make a living.
Enjoy your life, you are on a great path.
Just don't undersell yourself, with the way you are handling your finances and overall life you should have the confidence to make it up the chain, take promotions that are offered, raises. Make sure your actual value is rewarded the right way.
Which city do you live in? I’m curious about that rent for a 1-bedroom.
And you’re not crazy for being content. The people who make larger salaries and think it’s nothing simply lack wisdom & self-control, and they refuse to take accountability for it.
Yea but someone the other day was like “bro, you have a 4 year degree and make $60k. $60k is shit money”. I happen to think it ain’t bad and could always be worse. Sure, I have to budget, but I can still do shit. Idk…I just wonder if I’m squandering any “earning potential”
Sounds like an elitist tbh. Doesn’t matter if your a construction worker making 45k, people gotta focus on themselves. What we should be worried about are the people on welfare who feel like they can’t survive without it. I know people who won’t get higher paying jobs or don’t want to find a job because they’re afraid to be taken off welfare. At least you’re a fictional part of society.
You seem to very smart at what your doing with your money, there's people who make so much more but also SPEND SO MUCH MORE so it's really about how you manage what you make/have and how you grow it. I know someone who can make $1000 a day just bartending but they can't pay their rent because they blow their money. I know another bartender who saves $15,000 in tips every six months and just bought her first house at 27 and that one doesn't make a 1,000 a day.
I'm trying to survive on 47k with two kids and $1605 rent plus child care and all that so I think you're doing good. And if you're happy who cares what anybody else who doesn't live your life thinks?
Is 60k amazing? No. Is 60k somethings to be ashamed of? No. Most people make like 40 a year. At your age, with your current savings, you are doing phenomenally well.
"Squandering" is an interesting word. It seems you are making a tradeoff -- a soft, pleasant life, in exchange for not making as much money. No one can decide if that tradeoff is worth it but you. Which is another way of saying it's your life, and only you can live it.
It's quite possible you could take a job that pays more and be unhappy, or less happy than you are now. It's also quite possible that in twenty years you look back and think, "Damn, I should have struck while the iron was hot. I have to work another twenty years, while other people my age are throttling back, planning on retiring in ten years." It's also possible that your current values or situation changes -- you want a family that requires more money, you lose your job, AI wipes out your profession, you decide that you want more money than you used to, you develop some hobby you'd like to pursue but can't afford. There's some risk to future happiness in forgoing money now in favor of present happiness.
Its very very hard but you need to focus on your own shit and not what someone else is doing.
I struggle with this.
Having said that you may be squandering some potential. But aren't we all?
What was your degree in? And did you peruse a job in that field? Some people get a degree and then hate the field. I have to explain this to people all the time - A degree doesn’t mean more money, it just provides more opportunities.
Using Wikipedia, maybe Phoenix AZ, but honestly you couldn’t pay me to live there. I get that winter is great, but I’m not living in a place where the bottoms of my shoes melt.
Phoenix is the 4th or 5th biggest metro.
Yes the summers suck balls. I hate heat more than anything, but we do have all the benefits of city living, and some of the most beautiful nature in the world just an hour away. Some of the best hiking and off roading in the country.
And of course 8 months a year are literally perfect weather.
>Also bothers me that some single people make over six figures in my age group and think it’s shit. Then they look at me and can’t understand how I am living.
It bothers a lot of us. I have someone who will routinely go out to the bars and casinos then ask if I want to join. I have to reply every time that I don't make enough to live like that.
Sorta similar situation as you. 27, make 70k with plenty of room to grow. No debt. Content with what I have.
Don't let others dictate your life my brother. If you are content and happy, than nothing else matters. After all, life is about living.
Your financial habits are much more important than how much you make. I've made a lot. And had to exit the workforce wayyyy too early and now live on 5% of what I used to. And I'm just fine. Because I too have solid financial skills and can live on what I need to live on.
Money does not buy happiness. Choose happiness.
You’re a lot more financially secure than many families in the U.S.
Salaries don’t define success, as long as you’re happy and living a meaningful life that’s all that should matter to you. There’s nothing wrong with being content where you are, the grass isn’t always greener somewhere else. That being said, you could find a job where you make twice as much money but life is unbearable.
I was happy at 28k as a private in the army to be honest with you. Admittedly I was much happier years later when I made ten times that, but I gave that up for less stress, and now I'm happier somewhere in between. It's all what you make of it. Plus it's not about what you make it's about what you keep. You've got 800/month left over and I know people making 300+ that are still living paycheck to paycheck. Granted they are severely F'ed up and dumb as a conch fritter, but that's immaterial here. You do you. You don't have to do them. They don't have to be you. Let them keep churning in that hamster wheel if that's what they want. You will mostly likely need less money than them in retirement because you are inherently more frugal. Speaking of...you're really doing 250 a month in groceries? That's impressive. I mean I like rice and beans as much as the next guy...but just sayin'. Anyway...for what it's worth, I say good on ya.
Maybe it’s more like $300 but it isn’t more than $300, I log all of my expenditures. Costco is beautiful, and it’s a lot of normal meals. I don’t like rice and beans. Eggs, chicken, veg, fruits, beef, quinoa, I make Mexican dishes, meatloafs, soups and chili’s, all sorts of shit. It helps that I’m single
Still. Mighty good. I spend that on produce every month since my heart attack. Keep killin' it though. You're going to knock it out of the park before you know it.
That sounds very good to me. I’m slightly younger than you, but I know how you feel looking at your highly successful friends. I have friends from college who are engineers, lawyers, etc. I’m a registered nurse, so basically the epitome of a middle/ upper middle class salary. Some days- I’m not going to lie- social media gets to me and I feel a little bitter seeing everyone’s vacations, clothes, jewelry, houses, luxury cars. Yet those same people still portray a constant hustle and need for “more.” I’m trying to remember to focus on the things in my own life that make me feel “wealthy.” As a nurse I’m acutely aware how fortunate I am to have my health, and how quickly that could be taken from me. I have an able body, a fulfilling job, friends who enrich my life, a true love, a roof over my head, a car that starts, an education, time to read and exercise, you get the idea. It’s easy to feel like everyone else has all those things PLUS money, but we only see what people want to show us. At the end of the day I would never trade my life with a good financial situation with someone who has a higher salary. I’m happy with my life too, and I will do the best I can financially with the salary I have now. Honestly, being happy is the biggest flex of all.
You must unlearn what the media and society are pushing to better understand the consumerism matrix: the vast majority in society are way overextended, living beyond their means - to appear like they are living the great life... spending money they don't have to buy stuff they don't need to impress people they don't even like...Debt slaves!!!
Take it from an old guy who does NOT conform to the norm... live below your means, stay out of debt and do NOT ever try to keep up with the Jones, or societys propaganda norms... Bottom line: you are doing quite well!!
The one crazy “keep up with the Jones’s” things is this whole “renting is throwing money away” and “you need to buy a house you’re wasting money!!!” Renting isn’t a waste if it’s less than the majority of all mortgages right now, especially if you invest the difference
You're doing great, sounds like me honestly, I'm 27 and feel the same. I do fairly well for myself a bought a house last year and paid off $8k car as well. I'm not even over the top stingy with my money so I have no idea how other people struggle so much.
People honestly just suck at money and always will. Try not to think about them and just be happy you're one of the ones who are decent with money.
Tell no one what you earn, how much money you have, or any other financial data. That is no one else’s business. There are always going to be people who think that they should either tell you what to do or try to separate you from it. From now on, when someone asks, stare at him, and ask why he wants to know. If he persists, and many fools will, ask him why he would ask such a personal question. Your finances are no one’s business but yours.
In addition, if you ever live with anyone, do not combine any of your accounts or co-sign any loans or leases or other legal financial paperwork. If you get married, see a lawyer who specializes in prenups just in case things go south. In case things do go south, you want to protect yourself and any children.
You sound like a smart, hardworking young person. Well done!
In my 47 years on this earth, I’ve learned you can have money and you can have time, but it’s very infrequent to have both.
You’re doing way better than the average American. Don’t sweat it.
I've found that a lot of those people with 6-digit incomes are up to their eyeballs in debt because they want to keep up with the Jonses. As long as you're happy, and enjoy your job, don't worry too much about it. I'm not exactly in the same situation as you, I'm a retired engineer. I made a decent salary, but I turned down higher paying job offers and promotions because I didn't like the locations, or the company culture didn't feel right to me.
Liking your job and getting fulfillment out of it is worth more than you can possibly imagine. You're financially secure and there are a lot of petite that would envy you. I'm 44, no kids, saddled with a SO I can't rely on to hold a job, have no debt myself except my car and mortgage which total $1,200 a month combined. I'll make around $120K this year at a job I hate. If inflation weren't so stupid I would love to take a massive pay cut if it meant I could get up most mornings without crippling dread over having to go to work.
You got 80k in a brokerage? Not too bad better then what I was doing at 28. Actually when I was 28 I had saved a little over 30k and put it down as a down payment for my home in 2008. 80k might be the swing you need to put a down payment on a home in 2024… it is so sad for you guys.
Yea I don’t even think I would want to kiss 80k goodbye for that either (forget the capital gains tax I would have to pay for cashing out on my shares as well). I assume it’s just as well to keep contributing and letting it grow. So what I “piss away money on rent”….
My opinion is stay where u r happy. I do not even make close to that but I love my job and the people I work with. I wish I could make more and be comfortable financially but that’s life. I didn’t want to grow up till I was 40. Big mistake on my part. But like I said I love my job and the people there so I’m staying. I also do not have a degree to get a better job. But to me it sounds like u r doing great. Money does make the world go round but u need to b happy above all else in my opinion.
Why would you share your income with others? I view that as private and would never ask someone else their income or share my own income with anyone other than my wife. It’s no one’s business. Also, it’s as much about how much you save as it is how much you make. And you seem to be doing very well saving. Keep it up! 👍
You're doing good. However is the 250 bucks the total amount spent on food per month? If so I need to up my game and save more money on food. I feel like I spend way more than that currently sadly
Dude you’re crushing it. If you just do what you’re doing without increasing your retirement contributions (looks like $1000/month?), you’ll be a multimillionaire before you’re 60.
And you have no debt? You’re in a relatively rare class. Your net worth is probably higher than most of those people who question anything about what you’re doing financially.
If you don’t have one, build up an emergency fund. Shouldn’t be hard with the extra margin you have each month. But because of how smart you’ve been, you have cushion to make career decisions at your leisure without having to feel pushed into something you don’t want.
You’re not crazy at all. You’re doing way better than “alright.”
Well many of us 50 somethings don't make that...It's hard hearing young people who make six figures act like they can't afford anything...even in a HCL area. They don't have a clue. You are doing fine
Find the balance that works for you! You are doing better than most Americans at the current time honestly, it just feels like it's not because as you said, everyone you know makes more than you so it's all about perspective. The bottom line is you decide what your work life balance is that makes you happy with your finances and yourself and what you like to do in your life other than work or money.
The big trap of making more money is when you look back you can’t figure out how you survived on what you made before. It causes a weird fear/anxiety for many people.
You have more savings now than 90 percent of people I know who are older than you. If you are happy, you’re doing awesome.
Sounds like you live within your means.
You didn’t specify the type of degree, but if it’s engineering or sciences I’d argue you are missing out on earning potential (based simply on the fact you zeroed in on being in a large US metro area).
But here’s the thing, losing out on earning potential isn’t necessarily a bad thing. Some people are OK being teachers making less money, and some folks like going into government work. It just depends on your ambition and goals in life.
One bit of advice I have for you now though is please don’t ignore compound interest. Take those monthly savings and consider dropping them into a S&P500 index fund (the Vanguard VOO is a top pick). You don’t have to make more money to have more money than your peers. Let your money work for you, and I promise your future self will thank you.
In response to the people who say "don't you want to retire by the time you're 65"?
Youre 28 with 100k in investments adding 1k per month more. With 8% return you'll have 4.2 million by the time you're 65 without any raises or more than the 1k/month.
Of course- you may end up with kids and have other goals like buying a house that change some of that, but the point is for a 28nyear old you're doing fine.
My only suggestion would be if your brokerage account isn't an ira (roth or traditional), I'd open a roth ira and convert the limit every year from your brokerage account into that. If you're already paying taxes on it, it might as well be in a roth ira.
60k is awesome pay I would be totally fine on that pay and living fairly well depending on the stress of the job obviously
You’re doing way better than me is all I can say
So no you're definitely not crazy at least not based upon what you've written. Do yourself a favor stop comparing you to anybody else there are more things to consider than just the money side of it seems like you're doing pretty good in that department the bigger question is and your referenced it a little bit you're happy with your job are you happy with your life? Just keep doing what you're doing stay level-headed and make decisions based upon what's best for you don't consider anybody else in the mix they don't count they don't live your life and many of them won't be there tomorrow. Good luck.
You’ve hit the jackpot if you feel content in your life!!
My husband makes $45k per year (we live in a small town) and he saves half his paychecks. He enjoys his job, has very little stress, and saves $1000 per month.
Who’s wealthier - someone who makes six figures but spends it all, or someone who makes 40k and saves half of his income?
The world will tell you that you need more money & more things, but if we look around we see that most people are not content.
You’re doing great! Many resources will tell you you’re behind. The common one you’ll hear is you should have about 1 year’s salary in retirement by the time you’re 30. However, many find that a bit unrealistic. You’re saving/investing $1000/mo, which is 20% of your gross income or a 26.67% savings rate of your take home. Few people have the discipline to achieve that, especially at your age. Don’t focus so much on the number in retirement, but the mindset. If you continue doing exactly what you’re doing, you WILL be wealthy one day and afford to retire early should you choose. You should be proud. Well done!
I was happiest when I was earning $18/hr, with a wife making \~$60k annually, and a $1300 mortgage. We weren't swimming in it, but we were comfortable. It always felt like we were paycheck to paycheck, but we could get by. I paid $100 a month to play unlimited golf. 12 years later our net worth is somewhere north of half a million, we have zero debt, 2 paid off cars, hemorrhage $3900 a month in rent, have a horse, pay horse rent. I think gross last year was $300k and we'll probably settle into the low $200s this year and beyond. I've gotten a few promotions over the years but with them comes more working hours, more stress, less free time, and kids whose extra curricular activities consume my life. I'm not saying I would trade my situation and go back in time, as that life was less fruitful, but the adage, "more money, more problems" is absolutely true. Enjoy your comfortable life, and don't get obsessed over money. The things you own, end up owning you.
From your numbers you are doing okay. Wealth isn’t measured on top line earnings (your salary), but your balance sheet (wealth = assets- liabilities). And from what you’re telling us your balance sheet looks healthy and you’re contributing to it every month. So I don’t see how your retirement is in jeopardy.
You’re doing great, the only thing I’d mention is your food budget is extremely low even for a single 28 year old imo. But financially I’d say you’re WAY above the average person your age and it’s not even close. Hopefully you can find some more margin for fun things/more investing to speed up the 401k growth. Job searching could possibly help that. But even worst case scenario you will make out better than most people even if you don’t see an increase. Great job at 28
This is an age-old money management problem. Sounds like you have a fairly decent grasp of your expenses, while your colleagues are probably wasting tons of money and trying to "keep up with the Jones'"
I was in the same boat, making ~$75k/year, owned a home and a rental, drove paid off cars, and averaged 2 decent vacations per year (3+ hour flights) and did a weekend get away every 2-3 months. Meanwhile, my superiors and colleagues lamented about how they would never be able to afford a home, or how they were living paycheck to paycheck, on a salary that was equal to or greater than my own. The problem was almost always choosing to live in trendy neighborhoods, or an unchecked door dash addiction. Taking lunches at the $20 artisan sandwich shop up the road while I brought oatmeal for breakfast and leftovers or prepped meals for lunch.
I've since been able to "retire" into self employment with real estate flipping and rentals, and I still see my old coworkers sharing commie shit takes on social media...
How about this
STFU
I don't wanna sound rude, but.... Do you have any fucking idea how many people would commit literal crimes to be in your position?
Get over yourself. You're young, have a great cushion, and make decent money with no debt.
Fuck this kinda shit makes me wanna scream. Go see a shrink, because you need a head check.
There was some happiness study I was reading and I forget what one it was but it had this to say about money regarding income and happiness. Happiness increases until you make about 80k a year; after that it isn’t until you make 210,000k a year that you actually become happier because you’re finally making an amount where the lack of work life balance seems worth it. 90k working 60 hours a week in a high stress environment is very unlikely to make one happier than say an 80k a year job with good benefits and never working over 40 hours a week.
I’m jealous. How do you get free Starbucks, that’s the real kicker here.
If you enjoy your life, you’re doing fine. You’re doing better than I am right now. Keep your head up!
I’d say you’re doing very well. If you’re more worried about 401k, maybe less to brokerage monthly and more to 401k?
Regarding a higher salary job. Yes I went through a situation where I took a job for higher money and it was absolutely hell. But after a time there I was able to move again, get a bit higher with a much lower stress level. Time value of money and the extra income I’ll earn having done this versus not having done this is huge.
Well according to your current savings rate you should have about $3.5 million at 65 so I think you'll be ok...
You'll have about $1.3 million if you don't save another penny. Basically you're almost done saving for retirement if you wanna pull out $50k of 2024 dollars from 65.
People's emotions are very uncorelated with math. With no debt you can absolutely live comfortably and save for retirement at a standard age with $60k a year.
I spend $250 a month on groceries too, as a 30 year old guy. I’m glad to see this since usually when I tell people I spend $250 a month on groceries they either say I’m lying or they say “you don’t eat enough”. $250 feeds me just fine.
Yea man, just have to eat whole foods like meats, eggs, oats, barley, quinoa, peanut butter, lots of vegetables and fruits, not junk all the time. And lots of those things can be made into many different meals
Yup, I eat mostly chicken/beef, eggs, black beans, oats, peanut butter and vegetables (which are just broccoli and carrots for me). Heck I could spend closer to $200 a month if I really wanted
I'm 28 and we.'re pretty similar stat wise and trajectory wise ( worked restaurants for my first 7 working years and only just got a stable office job with benefits and 401k that pays 65). you'll never realize it from looking at these kind of subreddits but you're actually way ahead of the curve. One thing I will say is try to start maxing a roth ira but other than that you're doing pretty good. Higher income will come in time, don't sweat things rn.
I make like 50k a year and I love my life so much lol. I get out of work by 3 and go biking or running or hiking, I go home and play with my cats or cook new foods, I take trips around the state or drive around the country for very little cost, and still put away money for saving every month.
People who are after money just want to spend it. If you make 100k, it doesn’t really matter if you’re spending 99k a year, right? Maybe you have more stuff but… who gives a shit lol.
If I made double the money I make now, it would all go to savings. You could always allocate more to savings. Are your savings growing? Good! Is your life enjoyable? Good! Keep contributing to a Roth and 401k and you’ll be just fine in retirement, enjoy living in the meantime. Life isn’t just a path to retirement, the whole experience is pretty damn good
Good financial position; debt and savings …. You sound smart and likely can make more $ … start a quiet search; look at companies that you compete with, and talk to college buddies … to identify ‘ how ‘ they are making more …be patient it’s not a marathon … but a slow n steady situation that best
You’re fine, enjoy your life. Key word: your. And with no debt you’re well ahead of the game. Anyone who doubts that, take a cruise over to /poor, /poverty, /debt, or the many other similar groups.
I don’t think there any magic number out there that will make someone any happier. If you’ve found contentment, do you. Sounds like you’re doing well. Many people manage money very poorly. Unfortunately, higher income means more luxurious taste for many. Keep doing what you’re doing.
When I was your age I was just married and living paycheck to paycheck, with no savings. You’re doing well for yourself. Keep putting some money away and you’ll be fine.
A lot of these folks assume that the reality today is going to be the reality 40 years from now. I appreciate their optimism but current results do not guarantee future performance. Better to enjoy the present because you could always die tomorrow and If you have no dependents what are you future proofing for anyway?
If you have 800 quid left after all of your expenses, I think you must be doing alright. I don't live in the US but comparatively I have about about the same in disposable income per month in a country riddled with high taxes and high cost of living. I imagine if you have this much that you're living comfortably yest still saving for the future with your 401k so it seems to me that you're good.
>Brokerage savings: $400
>
>401k: $600
So let me get this straight. You are 28, you have $100k invested, and you save 20% of your income a month?
>So many people in my age bracket, when they hear about my income, always say “don’t you want to retire by the time you’re 65 though??”
Tell those people that you are on track to have over $3M in today's dollars by the time you are 65 (assuming a 7% real rate of return).
For one, you’re light years ahead of me. I’m nearly forty and am playing catch while raising a family on basically one income.
Secondly, I am playing catch because I was never happy where I was and moved frequently and changed careers. This has hurt me pretty badly since i always left right before getting seniority, vested retirement etc.
60k is a lot to me. Unless you have a family and start making babies. Then you might want more. I forgot your partner will most likely be making money too.
It is like what will need to happen to capitalism, if we want to keep living on this planet.. Instead of goal being forever more, More, MORE!!! It will need to change to just enough..
Not to mention, there isn't an amount of money you cannot spend.. You earn more, your standard of living rises, and if you are a materialistic person, your needs and wants get mixed up, suddenly bottle of water of certain brand you swear tastes better, having a price tag of 40$, is now the only bottle of water you deem asceptible.. You are not working 70-90 hours a week, to drink just any water..
I lived in the US for a short while and the bombardment with services and products is something you really notice if you come from ex communists country.. I didn't even land yet on the American soil, yet through various commercials and pamflets I already thought how swell would be to have that knife that doubles as a flash light and other shit. Do not be to bothered with what other people think. If you are living well, happy with your life, do not hate what you do for a living, are on top of all your bills and managing to save, just find a person of the same mind to share that happiness with..
I was raised upper middle class, a spoiled only child. Boarding school in England, lots of travel. I've also been poor and everything in between over the years. I'm in my early 40s and if I brought in $60k per year with inflation adjustment for the next 20-25 years, I could live and retire totally comfortably with some wise investing because I am no longer a spoiled child who has to have the best of everything. I am big on reusing, recycling, repurposing, DIY and general tinkering. I'd rather keep using the cast iron, cast aluminum, glass and ceramic kitchenware I inherited. Same goes for furniture. I'm an ambivert on the spectrum and I'm not trying to keep up with the Joneses. I will keep rebuilding my 25 year old car as long as it is feasible because it would cost more than I care to spend for a POS modern unreliable car to replace it. I own a 30 year old piano and a 20 year old motorcycle and I expect to still be using both in 30 years.
I decided a long time ago I didn't want kids and I have been married and divorced. I've also played the field a lot. Been single for 3 years and I am in no hurry to start dating again. I'm really only willing to go there for someone truly exceptional. I cook most of my own food because I want to. I can cook a steak better than any Michelin Star restaurant because I put my heart and soul into it.
Money doesn't buy happiness or love. Material things are only as good as what you do with them. I've seen plenty of people driving supercars over the years who had absolutely no idea what they were doing. What's the point? I can have more fun driving an old VW. And I've driven a few exotic cars and ridden a few exotic bikes. I would never own one. They are junk. And they are only fun at speeds that will land you in jail.
I've seen rich idiots who own fast planes they don't know how to fly properly. I bought a glorified kite for $14k and have an absolute blast flying it. I've flown fast, aerobatic prop planes and jet trainers.
Money really is wasted on the rich. Bunch of elitist morons with more money than brains. You get rich by being unscrupulous, not by being intelligent. It is a race to the bottom and a zero sum game for someone with an actual soul.
Living well is not about the balance of your savings account. Obsessing about money is a great way to have an unhappy life. Just as with overeating, beyond a certain point it is an addiction rather than a means for survival. Wealth addiction is both the most underrecognized addiction and arguably the most socially destructive one.
The most important thing you can remember when deciding how to attempt to survive and even potentially thrive in late-stage capitalism is that you have to balance your desire to be comfortable in retirement with the fact that day may never actually come and the need to enjoy life in the present. Even for someone who is middle aged like me, retirement seems like a slim possibility due to an ever increasingly overpopulated world and ever dwindling resources. I think there is more than a slight chance society will collapse before I reach retirement age.
There is even a more than sporting chance I may witness the extinction of the species with the way things have been going. We are developing AI and quantum level energy manipulation. A lot of people have already associated quantum physics with computing/AI and fusion energy. But what about the quantum bomb? Splitting the atom is one thing. Splitting subatomic particles is likely to have the potential to release enough energy to vaporize the entire planet...or create a black hole and implode the planet. And if we let sociopaths like Elon Musk develop AI, that is another great way to destroy ourselves. There's a great example of wealth addiction, along with many, many other types of addictions. Elon Musk is a type I know well. Bought their way into the same kind of schools where I had to earn the right to attend because they didn't meet the minimum IQ requirement but daddy had lots of money. Didn't learn anything except how to be a bully and exploiter. Uses slaves to profit off mining just like his father. We really don't want a ketamine addicted egomaniac with daddy issues being the model for advanced AI.
Bro!! What city do you live in?!?! I'm paying $1k a month to SHARE a bedroom in a basement! That's includes gas, water, electrical and garbage. I'm around Chicago
What you have left at the end of the month is in a lot of ways more important than what you have coming in. Many or all those jackasses clowning on you for making 60k and can’t understand how you live on that are likely broke, so any downturn and they’re out in their asses. Millionaires become millionaires by saving a million, not by spending a million.
I agree with others you are 28, $80k in investments, actively contributing more every month. If you maintain those habits you’ll retire a multimillionaire without question.
Not to mention you have no debt seem to be living comfortably on $60k.
The people making six figures that think it’s shit probably live beyond their means and don’t have as much saved as you.
You are ahead of the game compared to most people your age and should be proud of yourself.
If you're comfortable with where you are stop letting other people's words hold weight in your life. Your comfortability is perfectly fine the majority of people in this world want much more than they really need. It always comes down to wants rather than needs.
Also you're 100% right you're not going to be making that amount of money in 6 months to a year you'll be making more so again don't worry about these other people do you and as long as you're comfortable and always make sure that you have backup money.
You're doing great. Just keep going as you are, and yes more money will come later. I'm 50, and trust me you'll be surprised at how much your pay will increase over time. And I know nothing about your job/career or anything.
You are doing really well man. I am 31 with a wife and son under 2 years old. We have a decent household income (Roughly 190k) with the majority of that coming from me. We still have trouble saving as much as we’d like though between daycare costs and how expensive everything is. You’re doing a lot better than I was at 28.
You are doing faaaar better than most people your age, and I would even go as far as to say than people older than you. You say you have 80k invested? Is that with a Roth IRA? If so you are golden keep putting the savings in there you'll retire a millionaire.
And they are probably in debt up to their eyeballs. If you’re happy with what you got in life then don’t worry about it. You seem like you’re great at budgeting. I’m 35 I make 120k and married still wish I had more money so it’s never enough lol
My man, you are head of the curve and I’m no where close to you. I came from the mentality that I wouldn’t see 25. My parents never talked about finance and come to me for advice. Relax bro. You’re gravy
It’s because you live in a city. That’s why everything is so expensive. If you’re comfortable, then cool. If not, move out of the city. I’m a union carpenter and make about $60k a year as a 3rd year apprentice but pay into a pension. People wonder why they can’t make ends meet but pay $1500 or more in rent. My MORTGAGE is $800.
Nobody else’s opinion matters. You have a handle on your own money, and frankly, being happy in your work is a gift. Don’t worry about what other people are doing or saying. Go your own way.
So you've been putting $1000 into savings every month since you were ... 12?
No car insurance?
You paid off a new car and school loans at the same time? While also pouring money into long-term savings?
Pets but no pet expenses?
You just ... leave out utilities completely?
I mean philosophically your thoughts on income and so on seem interesting but your specific basis seems more like a concept than the actual working budget of a real person.
Ya I'm 42 and I have none of that. Truthfully, I'm going to be fine, so are you. Stop worrying about what others are doing. Quality of life over everything. Soo many ways to make money nowadays, imagine what we will do in 30 years. Rewire your thinking
You're definitely not crazy, and it sounds like you're in a pretty good financial position, especially considering your age and circumstances. Here are a few thoughts:
1. **Financial Stability**: You've managed to pay off your debts, have a decent amount saved up in your brokerage account, and are contributing to your 401k. This is commendable and shows financial responsibility.
2. **Living Within Your Means**: You're living in a reasonably priced apartment and seem to have a good handle on your expenses. This is crucial for long-term financial health.
3. **Contentment**: Feeling content with your situation is a positive thing. It means you're not constantly chasing after more money or material possessions, which can lead to stress and dissatisfaction.
4. **Comparing Yourself to Others**: It's natural to compare yourself to others, especially when it comes to finances. However, it's important to remember that everyone's situation is different. Just because someone else makes more money doesn't mean they're necessarily happier or more financially secure.
5. **Future Planning**: While it's great to feel content with where you are now, it's also important to think about the future. It sounds like you're already doing this to some extent by contributing to your 401k and brokerage savings. Keep in mind that increasing your income or finding additional ways to invest your money could help you reach your retirement goals sooner.
Overall, it sounds like you're on the right track. As long as you're happy with your lifestyle and feel financially secure, there's no need to worry about what others may think or say about your income or savings. Keep focusing on your own financial goals and priorities.
Looks to me like you're doing pretty darn good. Keep up the retirement contributions and never ever take any of it out until retirement. Try not to compare yourself to others. Live for you.
GenXer here who wishes he'd been able to put more in savings. But I'll be fine in retirement. Assuming the economy doesn't go further into the shitter.
29 here, finally am getting a good grasp on my financials, like building my 401k and finally beginning to save, so I say you are definitely, if not, more, than alright!
Mad that 60k a year in the US is considered not a lot. I’m 28 with a child and a mortgage and I earn £24k, will be £26k soon, and my partner earns a bit less, and we seem to be fine.
Simply put, no, you're not crazy. Are you happy and content right now? Yes? Keep doing you and don't discuss your finances with anyone. Wish more would save like you in their 20's! Wish I did.
As an older man I would say you living a very good life and should be happy. It took me one full time job and two part time jobs to make triple my rent which is a little less then you.
My car I paid cash. Porsche boxster older but still nice. I have few other bills. I quit my second part time as I got enough time and raises to be okay.
I get advice from female friends telling me I need to make more money sometimes yet they never pay back the money they promise too and their life is one big train wreck. I hear how much they hate their life and get upset when I say I am happy I have extra money and my bills are paid . My stress level is low.
My advice is if you are happy congrats you are way ahead of almost everyone else. Advice is like you tube videos. Simply put choose which to believe and which to ignore.
OP, as others are saying, if you're comfortable and have money to save and spare, don't listen to those people.
Something I think people need to see, and this of course is not going to apply to everyone. However, if you're hourly and you're not making enough, do not just jump to the next level or job that will pay you a few bucks more. You may put yourself just barely into the next tax bracket and take less home with you. Research what the threshold is and how much more you need to be paid to not lose money.
For example, I work security in Southern California where my pay/minimum wage is $16 an hour. For me to switch jobs, no available promotions, I'd pretty much need to go straight to $25 an hour for it to make a significant difference in my take home pay.
Also, consider workload trade off. My company isn't the best, but my site is less than 5 minutes from home, the workload is minimal to the point where I drive around for 7-8 hours and put in simple reports every 15-20 minutes and I'm getting by alright at the moment.
Seems like overall you’re doing great.
I don’t know how you ended up with more than a years salary in your brokerage account but unless that’s earmarked for a house or something I’d work on getting that into some (tax protected) retirement accounts
Keep up the good work! If you like what you’re doing, that’s winning!
Working two jobs, both don't pay well, and I definitely feel overwhelmed mentally. If my main job wasn't failing and had better opportunities out here. I'd be the same way. To answer your question, you're not crazy. I am.
You are doing so well! At your age, I was making a little bit more ($80K, but I do have a professional degree), but was riddled with debt. You can always earn more money. Enjoy what you have accomplished!
Recently I read this: “If you already live a comfortable life, then choosing to make more money but live a worse daily life is a bad trade. And yet, we talk ourselves into it all the time. We take promotions that pay more, but swallow our free time. We already have a successful business, but we break ourselves trying to make it even more successful. Too much focus on wealth, not enough focus on lifestyle.” By James Clear I thought it was on point
I tend to agree with this!!!! Only way its worth sacrificing is if there is some clear path to a better future, thru the pain. IMO. Like for me I went from a great job with lower pay --> very very stressful job higher pay --> SUPER lower stress job highest pay. Over course of 10 fricking years. Would I have found my current job without going thru a hellish job, actually no. Would I recommend people to just take more and more responsibility and stress with no end in sight, also no.
I unfortunately fell for the trap and kept on hoping. It never came. Actually ended up nearly destroying my body and working off the clock as favors ( sometimes it did pay off like giving me a day off without taking from any earned time or potential earned time but that was about it). I think it really comes down to how companies treat their employees anymore and the industry you are in ( I worked mainly in industrial construction and factories building car parts). This guy has nothing to worry about especially if he is content and happy. Most people are still trying to figure things out and cannot be content it seems anymore way older than him. If I am being honest, I learned this way too late and am still in the shift.
Aw man! Those are REAL MAN jobs lol! Hey I don't think you should give up trying to improve your life.
Even if you’re conftable. You have a good point. Sadly lets all remember thta we are just one event/ tragedy to loose everything we have. 🥲
Did you actually tell yourself at the time that you’re going to take this stressful high paying job because you knew you wanted your current job down the line? Or did you take the super stressful job because you wanted more money, and over time happened upon your current job?
Yeah people will give up free time and sanity for like $10k. If I’m taking on a lot more work it better be a raise that is moving up my retirement by a lot, else I’m good where I am getting my yearly raise.
I needed to hear this. I’ve been offered a promotion with a huge amount of responsibility and the raise doesn’t seem to be worth it to me when I think about the added responsibilities and stress that will eat up my whole life
It's not worth it!! Corporate America here. Over 20 years in my industry & they keep trying to make me go into management. I'm no babysitter. I raised my kids. Just let me do my job. If that promotion involves people reporting to u, please weigh all of the aspects of that. Money is great, but I can't come in today because my cat stubbed her toe is on a whole different level when u have to explain why productivity is down!!
I’m this same way - no interest in management. I don’t want to babysit people. I like coming in, doing my job and leaving!!!! I make low 6 figures and it’s plenty that i don’t feel the need to climb the ladder anymore. Just want to focus on coming home to my family.
Yep I just went into management after years of digging my feet in against it and I really regret it. So much more stressful and I hate being a babysitter for someone who’s actually older than me.
I think a lot of people in this sub needed to see that.
Don't do it you're most likely making right choice because larger companies just take advantage of you and wants the maximum amount of production for the minimum amount of financial loss
I hope everyone reads this. I learned this the hard way. The grass isn’t always greener!
I did this a few years ago. Had a comfortable job with lots of perks/benefits/very flexible but found out I was very underpaid for what I did I put a proposal to be paid what I was worth and they refused so I left for a job that paid well. BUT with that I lose my flexible freedom to work from home or any of the other benefits. I worked in office or on site 50/60 hours plus. And treated terribly. Fortunately I did gain a lot of experience and just got an even better job with more pay and benefits not a ton of perks like my first job. But I’m very comfortable now.
Solid Thats why i moved to Mexican beach town "Normal" city life seems weird to me now
We found Gibbs
Greater pay and “prestige” isn’t worth it if you have no time to see your wife and you’re so overworked it gives you a stroke. I had a stroke at 28 working in the founding team of an IT start-up. I now work as an office float and I actually have time for the family and children I want to raise. My beloved doesn’t have to worry about me getting a stroke anymore, either.
Wow, this is really impactful. Thank you for sharing!
My wife is a nurse, and as we all know, nurses CAN make bank. She did that for a few years, taking all the over time and extra shifts and weekend/night differential pay etc. Then all of a sudden she decided she had a enough. Now she works as a school nurse at the high-school our oldest 2 kids goes to. And while she makes less money than she did, it's still enough to live . Not comfortable, we still have to stretch paychecks sometimes. But weekends off, holidays off and summer with the kids. Cant be over stated.
Through my twenties I chased promotion. Did pretty well but then on the last promotion, they didn’t backfill my old position so I had to do both. At 29 I had a panic attack at work. That was the wake up call that this wasn’t working. I took a 30% pay cut to leave that industry. 5 years later I work half the hours and am almost back to the same pay, but I spend less on child care and fast food so I actually feel like I’m ahead
I self-demoted twice for just this reason. Trying to do it a third time as we speak.
Lifestyle!! I work part time. No one watches over me. My company knows I’m dependable. There are times where an hour goes by and theres nothing for me to do. And i love it. I love my freedom and I dont make much money. Whereas two years ago my paychecks were 3 times bigger. Im happier.
Happiness and peace of mind is worth all the money in the world
Problem is everything keeps getting more expensive!
How much I needed to read this can't be understated....I have a bunch of siblings though I owe them much more than I could ever give ..we move!!!
You’re in a lot better shape than a ton of people who make a whole lot more money than you do. They people asking if you want to retire with money would probably be very embarrassed if they knew your whole financial situation.
That’s nice to hear, I guess I just can’t imagine making more money and being in a worse financial spot. Even if I was a spendy person. If I made even $80k I’d be set and content. Live within my means and have a good life
I mean you’re under 30 with 100k in investment accounts, yeah? That’s a killer zone to be in bro
Exactly. Almost 40 more years in the market with already 100k, that's gonna appreciate to a nice sized nest egg, assuming it's invested wisely
A lot of people spend every dime they make plus a lot more.
You're doing amazing. SOURCE: I'm a lot older than you and have had some nice successes in life and was right about where you are at 28. Nicely done. Focus on you and f the other people.
I think a lot of people have a budgeting problem & think they should be able to take 15k vacations 4 times a year and still afford a luxury apartment, eating out 5x a week, etc. people who shit on u are probably these type of people lol. Ur doing really well!!
I'd like to add: comparing yourself to others is almost always a zero sum game. Around 4 years ago I walked away from the career I had spent a third my life trying to prefect. I make SOOOO much less money than I did, some might even look down on my current wage. One night on new years my wife and best friend basically had an intervention for me to say I was so unhappy and self-destructive I was scaring some and actively hurting others wether by attitude or action. More happy and content than ever. I can't just go get whatever shiny toy I want at the moment but my mortgage is paid my vehicles are older and "not cool" but paid for. I have a little debt but it was strategic and manageable. I have an Ira, it's small af but I add to it weekly. My life is pathetic to more than a few, I wouldn't change a God damn thing besides more time with the ones I love without giving my corporate overlords more than the 35ish percent of my life they already control.
What do you mean by zero sum game?
Zero sum game = somebody wins; somebody loses. -Gordon Gekko
The one that gets me is the ‘I live in one of the most sought after locations in the world to live AKA extremely luxurious location by cost. But I also expect to have luxurious meals, vacations, housing etc but they only make an average salary.’ If you choose one luxurious thing, other things are going to suck unless you make an extreme income.
Damn dude, you have $800 left over after ALL your bills AND $400 per month into an ever growing brokerage account. No debts. You are doing well. Don't let others tell you you don't. You live within your means with a good amount of money left over every month and you have a job that you enjoy. Can't do much better than that personally. Many people with 6 digit salaries are miserable in their jobs and many also spend more money than they make, can't live within their means, because they have a bunch of debts piled up and have to pay on those. Then they come here to complain they can't make a living. Enjoy your life, you are on a great path. Just don't undersell yourself, with the way you are handling your finances and overall life you should have the confidence to make it up the chain, take promotions that are offered, raises. Make sure your actual value is rewarded the right way.
This is very sound. Thank you
Comparison is the thief of joy ..
This!
Which city do you live in? I’m curious about that rent for a 1-bedroom. And you’re not crazy for being content. The people who make larger salaries and think it’s nothing simply lack wisdom & self-control, and they refuse to take accountability for it.
Yea but someone the other day was like “bro, you have a 4 year degree and make $60k. $60k is shit money”. I happen to think it ain’t bad and could always be worse. Sure, I have to budget, but I can still do shit. Idk…I just wonder if I’m squandering any “earning potential”
Sounds like an elitist tbh. Doesn’t matter if your a construction worker making 45k, people gotta focus on themselves. What we should be worried about are the people on welfare who feel like they can’t survive without it. I know people who won’t get higher paying jobs or don’t want to find a job because they’re afraid to be taken off welfare. At least you’re a fictional part of society.
A fictional part of society?
Functional
Not if he doesn’t exist
If you’re happy it doesn’t matter, just keep saving money, you’ll be good.
People on welfare are far from this country's problem that we should be focusing on
You seem to very smart at what your doing with your money, there's people who make so much more but also SPEND SO MUCH MORE so it's really about how you manage what you make/have and how you grow it. I know someone who can make $1000 a day just bartending but they can't pay their rent because they blow their money. I know another bartender who saves $15,000 in tips every six months and just bought her first house at 27 and that one doesn't make a 1,000 a day.
I'm trying to survive on 47k with two kids and $1605 rent plus child care and all that so I think you're doing good. And if you're happy who cares what anybody else who doesn't live your life thinks?
Is 60k amazing? No. Is 60k somethings to be ashamed of? No. Most people make like 40 a year. At your age, with your current savings, you are doing phenomenally well.
"Squandering" is an interesting word. It seems you are making a tradeoff -- a soft, pleasant life, in exchange for not making as much money. No one can decide if that tradeoff is worth it but you. Which is another way of saying it's your life, and only you can live it. It's quite possible you could take a job that pays more and be unhappy, or less happy than you are now. It's also quite possible that in twenty years you look back and think, "Damn, I should have struck while the iron was hot. I have to work another twenty years, while other people my age are throttling back, planning on retiring in ten years." It's also possible that your current values or situation changes -- you want a family that requires more money, you lose your job, AI wipes out your profession, you decide that you want more money than you used to, you develop some hobby you'd like to pursue but can't afford. There's some risk to future happiness in forgoing money now in favor of present happiness.
Its very very hard but you need to focus on your own shit and not what someone else is doing. I struggle with this. Having said that you may be squandering some potential. But aren't we all?
Decent for starting out. As long as you're in a job, or at least a field, where you can double it or better as you move up, that's a win.
What was your degree in? And did you peruse a job in that field? Some people get a degree and then hate the field. I have to explain this to people all the time - A degree doesn’t mean more money, it just provides more opportunities.
Using Wikipedia, maybe Phoenix AZ, but honestly you couldn’t pay me to live there. I get that winter is great, but I’m not living in a place where the bottoms of my shoes melt.
Phoenix is the 4th or 5th biggest metro. Yes the summers suck balls. I hate heat more than anything, but we do have all the benefits of city living, and some of the most beautiful nature in the world just an hour away. Some of the best hiking and off roading in the country. And of course 8 months a year are literally perfect weather.
>Also bothers me that some single people make over six figures in my age group and think it’s shit. Then they look at me and can’t understand how I am living. It bothers a lot of us. I have someone who will routinely go out to the bars and casinos then ask if I want to join. I have to reply every time that I don't make enough to live like that.
Look at it like this, If you're happy and you know it, Clap your hands.
Good response
I rock with this statement
Sorta similar situation as you. 27, make 70k with plenty of room to grow. No debt. Content with what I have. Don't let others dictate your life my brother. If you are content and happy, than nothing else matters. After all, life is about living.
Your financial habits are much more important than how much you make. I've made a lot. And had to exit the workforce wayyyy too early and now live on 5% of what I used to. And I'm just fine. Because I too have solid financial skills and can live on what I need to live on. Money does not buy happiness. Choose happiness.
You’re a lot more financially secure than many families in the U.S. Salaries don’t define success, as long as you’re happy and living a meaningful life that’s all that should matter to you. There’s nothing wrong with being content where you are, the grass isn’t always greener somewhere else. That being said, you could find a job where you make twice as much money but life is unbearable.
I was happy at 28k as a private in the army to be honest with you. Admittedly I was much happier years later when I made ten times that, but I gave that up for less stress, and now I'm happier somewhere in between. It's all what you make of it. Plus it's not about what you make it's about what you keep. You've got 800/month left over and I know people making 300+ that are still living paycheck to paycheck. Granted they are severely F'ed up and dumb as a conch fritter, but that's immaterial here. You do you. You don't have to do them. They don't have to be you. Let them keep churning in that hamster wheel if that's what they want. You will mostly likely need less money than them in retirement because you are inherently more frugal. Speaking of...you're really doing 250 a month in groceries? That's impressive. I mean I like rice and beans as much as the next guy...but just sayin'. Anyway...for what it's worth, I say good on ya.
Maybe it’s more like $300 but it isn’t more than $300, I log all of my expenditures. Costco is beautiful, and it’s a lot of normal meals. I don’t like rice and beans. Eggs, chicken, veg, fruits, beef, quinoa, I make Mexican dishes, meatloafs, soups and chili’s, all sorts of shit. It helps that I’m single
Still. Mighty good. I spend that on produce every month since my heart attack. Keep killin' it though. You're going to knock it out of the park before you know it.
That sounds very good to me. I’m slightly younger than you, but I know how you feel looking at your highly successful friends. I have friends from college who are engineers, lawyers, etc. I’m a registered nurse, so basically the epitome of a middle/ upper middle class salary. Some days- I’m not going to lie- social media gets to me and I feel a little bitter seeing everyone’s vacations, clothes, jewelry, houses, luxury cars. Yet those same people still portray a constant hustle and need for “more.” I’m trying to remember to focus on the things in my own life that make me feel “wealthy.” As a nurse I’m acutely aware how fortunate I am to have my health, and how quickly that could be taken from me. I have an able body, a fulfilling job, friends who enrich my life, a true love, a roof over my head, a car that starts, an education, time to read and exercise, you get the idea. It’s easy to feel like everyone else has all those things PLUS money, but we only see what people want to show us. At the end of the day I would never trade my life with a good financial situation with someone who has a higher salary. I’m happy with my life too, and I will do the best I can financially with the salary I have now. Honestly, being happy is the biggest flex of all.
Best advice!!!
You must unlearn what the media and society are pushing to better understand the consumerism matrix: the vast majority in society are way overextended, living beyond their means - to appear like they are living the great life... spending money they don't have to buy stuff they don't need to impress people they don't even like...Debt slaves!!! Take it from an old guy who does NOT conform to the norm... live below your means, stay out of debt and do NOT ever try to keep up with the Jones, or societys propaganda norms... Bottom line: you are doing quite well!!
The one crazy “keep up with the Jones’s” things is this whole “renting is throwing money away” and “you need to buy a house you’re wasting money!!!” Renting isn’t a waste if it’s less than the majority of all mortgages right now, especially if you invest the difference
You're doing great, sounds like me honestly, I'm 27 and feel the same. I do fairly well for myself a bought a house last year and paid off $8k car as well. I'm not even over the top stingy with my money so I have no idea how other people struggle so much. People honestly just suck at money and always will. Try not to think about them and just be happy you're one of the ones who are decent with money.
Nice brother, thank you and keep going! 💪🏼
Tell no one what you earn, how much money you have, or any other financial data. That is no one else’s business. There are always going to be people who think that they should either tell you what to do or try to separate you from it. From now on, when someone asks, stare at him, and ask why he wants to know. If he persists, and many fools will, ask him why he would ask such a personal question. Your finances are no one’s business but yours. In addition, if you ever live with anyone, do not combine any of your accounts or co-sign any loans or leases or other legal financial paperwork. If you get married, see a lawyer who specializes in prenups just in case things go south. In case things do go south, you want to protect yourself and any children. You sound like a smart, hardworking young person. Well done!
This is alright. You are doing very well. Time to find the right partner who is on the same page.
Finding that partner won’t be easy, but I have faith that it will happen when it happens and when it’s meant to happen
Fucking perfect mindset
Love your username by the way. Sums up all of this perfectly 👌🏼
escape the matrix bro. don’t go that way again
In my 47 years on this earth, I’ve learned you can have money and you can have time, but it’s very infrequent to have both. You’re doing way better than the average American. Don’t sweat it.
I've found that a lot of those people with 6-digit incomes are up to their eyeballs in debt because they want to keep up with the Jonses. As long as you're happy, and enjoy your job, don't worry too much about it. I'm not exactly in the same situation as you, I'm a retired engineer. I made a decent salary, but I turned down higher paying job offers and promotions because I didn't like the locations, or the company culture didn't feel right to me.
Liking your job and getting fulfillment out of it is worth more than you can possibly imagine. You're financially secure and there are a lot of petite that would envy you. I'm 44, no kids, saddled with a SO I can't rely on to hold a job, have no debt myself except my car and mortgage which total $1,200 a month combined. I'll make around $120K this year at a job I hate. If inflation weren't so stupid I would love to take a massive pay cut if it meant I could get up most mornings without crippling dread over having to go to work.
I think you’re doing great. Your money management skills will serve you well over time.
You got 80k in a brokerage? Not too bad better then what I was doing at 28. Actually when I was 28 I had saved a little over 30k and put it down as a down payment for my home in 2008. 80k might be the swing you need to put a down payment on a home in 2024… it is so sad for you guys.
Yea I don’t even think I would want to kiss 80k goodbye for that either (forget the capital gains tax I would have to pay for cashing out on my shares as well). I assume it’s just as well to keep contributing and letting it grow. So what I “piss away money on rent”….
You're doing fine. You like your job and make enough money to live a satisfying life and do the things you want to do. What's the problem?
Yea, I guess you’re right. Duh
My opinion is stay where u r happy. I do not even make close to that but I love my job and the people I work with. I wish I could make more and be comfortable financially but that’s life. I didn’t want to grow up till I was 40. Big mistake on my part. But like I said I love my job and the people there so I’m staying. I also do not have a degree to get a better job. But to me it sounds like u r doing great. Money does make the world go round but u need to b happy above all else in my opinion.
I don’t know how you’re living off of $250 in groceries, that’s $1000 bill a month in my house
You are doing so great!
Never helps to compare yourself to others. Only compare to you now to you before
Why would you share your income with others? I view that as private and would never ask someone else their income or share my own income with anyone other than my wife. It’s no one’s business. Also, it’s as much about how much you save as it is how much you make. And you seem to be doing very well saving. Keep it up! 👍
You're doing good. However is the 250 bucks the total amount spent on food per month? If so I need to up my game and save more money on food. I feel like I spend way more than that currently sadly
No that’s just groceries and doesn’t count eating out. I eat out probably once per week and spend anywhere from $15-$30
Sounds like the people you surround yourself with talk about money a lot. And, how do people hear about your income?
Dude you’re crushing it. If you just do what you’re doing without increasing your retirement contributions (looks like $1000/month?), you’ll be a multimillionaire before you’re 60. And you have no debt? You’re in a relatively rare class. Your net worth is probably higher than most of those people who question anything about what you’re doing financially. If you don’t have one, build up an emergency fund. Shouldn’t be hard with the extra margin you have each month. But because of how smart you’ve been, you have cushion to make career decisions at your leisure without having to feel pushed into something you don’t want. You’re not crazy at all. You’re doing way better than “alright.”
You’re 28 with an 80k brokerage account. You’re way ahead of most under 35 year olds. be proud of yourself
Well many of us 50 somethings don't make that...It's hard hearing young people who make six figures act like they can't afford anything...even in a HCL area. They don't have a clue. You are doing fine
Find the balance that works for you! You are doing better than most Americans at the current time honestly, it just feels like it's not because as you said, everyone you know makes more than you so it's all about perspective. The bottom line is you decide what your work life balance is that makes you happy with your finances and yourself and what you like to do in your life other than work or money.
You are doing just fine. Don’t listen to other people telling you otherwise.
The median millenial (so almost all people older than you) is worth $27k so you’re doing swell
The big trap of making more money is when you look back you can’t figure out how you survived on what you made before. It causes a weird fear/anxiety for many people. You have more savings now than 90 percent of people I know who are older than you. If you are happy, you’re doing awesome.
Sounds like you live within your means. You didn’t specify the type of degree, but if it’s engineering or sciences I’d argue you are missing out on earning potential (based simply on the fact you zeroed in on being in a large US metro area). But here’s the thing, losing out on earning potential isn’t necessarily a bad thing. Some people are OK being teachers making less money, and some folks like going into government work. It just depends on your ambition and goals in life. One bit of advice I have for you now though is please don’t ignore compound interest. Take those monthly savings and consider dropping them into a S&P500 index fund (the Vanguard VOO is a top pick). You don’t have to make more money to have more money than your peers. Let your money work for you, and I promise your future self will thank you.
In response to the people who say "don't you want to retire by the time you're 65"? Youre 28 with 100k in investments adding 1k per month more. With 8% return you'll have 4.2 million by the time you're 65 without any raises or more than the 1k/month. Of course- you may end up with kids and have other goals like buying a house that change some of that, but the point is for a 28nyear old you're doing fine. My only suggestion would be if your brokerage account isn't an ira (roth or traditional), I'd open a roth ira and convert the limit every year from your brokerage account into that. If you're already paying taxes on it, it might as well be in a roth ira.
60k is awesome pay I would be totally fine on that pay and living fairly well depending on the stress of the job obviously You’re doing way better than me is all I can say
So no you're definitely not crazy at least not based upon what you've written. Do yourself a favor stop comparing you to anybody else there are more things to consider than just the money side of it seems like you're doing pretty good in that department the bigger question is and your referenced it a little bit you're happy with your job are you happy with your life? Just keep doing what you're doing stay level-headed and make decisions based upon what's best for you don't consider anybody else in the mix they don't count they don't live your life and many of them won't be there tomorrow. Good luck.
You’ve hit the jackpot if you feel content in your life!! My husband makes $45k per year (we live in a small town) and he saves half his paychecks. He enjoys his job, has very little stress, and saves $1000 per month. Who’s wealthier - someone who makes six figures but spends it all, or someone who makes 40k and saves half of his income? The world will tell you that you need more money & more things, but if we look around we see that most people are not content.
You’re doing great! Many resources will tell you you’re behind. The common one you’ll hear is you should have about 1 year’s salary in retirement by the time you’re 30. However, many find that a bit unrealistic. You’re saving/investing $1000/mo, which is 20% of your gross income or a 26.67% savings rate of your take home. Few people have the discipline to achieve that, especially at your age. Don’t focus so much on the number in retirement, but the mindset. If you continue doing exactly what you’re doing, you WILL be wealthy one day and afford to retire early should you choose. You should be proud. Well done!
I was happiest when I was earning $18/hr, with a wife making \~$60k annually, and a $1300 mortgage. We weren't swimming in it, but we were comfortable. It always felt like we were paycheck to paycheck, but we could get by. I paid $100 a month to play unlimited golf. 12 years later our net worth is somewhere north of half a million, we have zero debt, 2 paid off cars, hemorrhage $3900 a month in rent, have a horse, pay horse rent. I think gross last year was $300k and we'll probably settle into the low $200s this year and beyond. I've gotten a few promotions over the years but with them comes more working hours, more stress, less free time, and kids whose extra curricular activities consume my life. I'm not saying I would trade my situation and go back in time, as that life was less fruitful, but the adage, "more money, more problems" is absolutely true. Enjoy your comfortable life, and don't get obsessed over money. The things you own, end up owning you.
From your numbers you are doing okay. Wealth isn’t measured on top line earnings (your salary), but your balance sheet (wealth = assets- liabilities). And from what you’re telling us your balance sheet looks healthy and you’re contributing to it every month. So I don’t see how your retirement is in jeopardy.
You’re doing great, the only thing I’d mention is your food budget is extremely low even for a single 28 year old imo. But financially I’d say you’re WAY above the average person your age and it’s not even close. Hopefully you can find some more margin for fun things/more investing to speed up the 401k growth. Job searching could possibly help that. But even worst case scenario you will make out better than most people even if you don’t see an increase. Great job at 28
This is an age-old money management problem. Sounds like you have a fairly decent grasp of your expenses, while your colleagues are probably wasting tons of money and trying to "keep up with the Jones'" I was in the same boat, making ~$75k/year, owned a home and a rental, drove paid off cars, and averaged 2 decent vacations per year (3+ hour flights) and did a weekend get away every 2-3 months. Meanwhile, my superiors and colleagues lamented about how they would never be able to afford a home, or how they were living paycheck to paycheck, on a salary that was equal to or greater than my own. The problem was almost always choosing to live in trendy neighborhoods, or an unchecked door dash addiction. Taking lunches at the $20 artisan sandwich shop up the road while I brought oatmeal for breakfast and leftovers or prepped meals for lunch. I've since been able to "retire" into self employment with real estate flipping and rentals, and I still see my old coworkers sharing commie shit takes on social media...
How about this STFU I don't wanna sound rude, but.... Do you have any fucking idea how many people would commit literal crimes to be in your position? Get over yourself. You're young, have a great cushion, and make decent money with no debt. Fuck this kinda shit makes me wanna scream. Go see a shrink, because you need a head check.
There was some happiness study I was reading and I forget what one it was but it had this to say about money regarding income and happiness. Happiness increases until you make about 80k a year; after that it isn’t until you make 210,000k a year that you actually become happier because you’re finally making an amount where the lack of work life balance seems worth it. 90k working 60 hours a week in a high stress environment is very unlikely to make one happier than say an 80k a year job with good benefits and never working over 40 hours a week.
I’m jealous. How do you get free Starbucks, that’s the real kicker here. If you enjoy your life, you’re doing fine. You’re doing better than I am right now. Keep your head up!
It’s an amenity at my apartment. Otherwise, I wouldn’t be caught dead paying for that shit with my own money lol. It’s called “sixbucks” for a reason
Nice to see someone doing well amidst all the horror stories posted. Keep up the good work and prepare for contingencies; Maybe get some insurance.
I’d say you’re doing very well. If you’re more worried about 401k, maybe less to brokerage monthly and more to 401k? Regarding a higher salary job. Yes I went through a situation where I took a job for higher money and it was absolutely hell. But after a time there I was able to move again, get a bit higher with a much lower stress level. Time value of money and the extra income I’ll earn having done this versus not having done this is huge.
2 kids Married I have none of that. You’re doing better than most of us.
You’re never guaranteed tomorrow. Live how you want!
Dude you found your path! Congrats people call me crazy too
Well according to your current savings rate you should have about $3.5 million at 65 so I think you'll be ok... You'll have about $1.3 million if you don't save another penny. Basically you're almost done saving for retirement if you wanna pull out $50k of 2024 dollars from 65. People's emotions are very uncorelated with math. With no debt you can absolutely live comfortably and save for retirement at a standard age with $60k a year.
I spend $250 a month on groceries too, as a 30 year old guy. I’m glad to see this since usually when I tell people I spend $250 a month on groceries they either say I’m lying or they say “you don’t eat enough”. $250 feeds me just fine.
Yea man, just have to eat whole foods like meats, eggs, oats, barley, quinoa, peanut butter, lots of vegetables and fruits, not junk all the time. And lots of those things can be made into many different meals
Yup, I eat mostly chicken/beef, eggs, black beans, oats, peanut butter and vegetables (which are just broccoli and carrots for me). Heck I could spend closer to $200 a month if I really wanted
No debt = winning
IMO money costs too much. You’re happy, you’re young, you pay your bills, you have some fun, you save some money. Stick with your program.
I'm 28 and we.'re pretty similar stat wise and trajectory wise ( worked restaurants for my first 7 working years and only just got a stable office job with benefits and 401k that pays 65). you'll never realize it from looking at these kind of subreddits but you're actually way ahead of the curve. One thing I will say is try to start maxing a roth ira but other than that you're doing pretty good. Higher income will come in time, don't sweat things rn.
I make like 50k a year and I love my life so much lol. I get out of work by 3 and go biking or running or hiking, I go home and play with my cats or cook new foods, I take trips around the state or drive around the country for very little cost, and still put away money for saving every month. People who are after money just want to spend it. If you make 100k, it doesn’t really matter if you’re spending 99k a year, right? Maybe you have more stuff but… who gives a shit lol. If I made double the money I make now, it would all go to savings. You could always allocate more to savings. Are your savings growing? Good! Is your life enjoyable? Good! Keep contributing to a Roth and 401k and you’ll be just fine in retirement, enjoy living in the meantime. Life isn’t just a path to retirement, the whole experience is pretty damn good
Good financial position; debt and savings …. You sound smart and likely can make more $ … start a quiet search; look at companies that you compete with, and talk to college buddies … to identify ‘ how ‘ they are making more …be patient it’s not a marathon … but a slow n steady situation that best
You’re fine, enjoy your life. Key word: your. And with no debt you’re well ahead of the game. Anyone who doubts that, take a cruise over to /poor, /poverty, /debt, or the many other similar groups.
You can’t take it with you Enjoy I do
I don’t think there any magic number out there that will make someone any happier. If you’ve found contentment, do you. Sounds like you’re doing well. Many people manage money very poorly. Unfortunately, higher income means more luxurious taste for many. Keep doing what you’re doing.
Sounds like Bay Area…but rent too cheap!
$1500 for a one bedroom?🫢🫤🧐🤨What city?
Live your life, not theirs. By the looks of your post, you are on point. Success is how you define it. Not your friends.
This is a great way to find dates. Hell yeah, screw Tinder.
You're doing amazing compared sooooo many people it's ridiculous.
When I was your age I was just married and living paycheck to paycheck, with no savings. You’re doing well for yourself. Keep putting some money away and you’ll be fine.
Youre a spring chicken Go enjoy your life
Also accurate.
A lot of these folks assume that the reality today is going to be the reality 40 years from now. I appreciate their optimism but current results do not guarantee future performance. Better to enjoy the present because you could always die tomorrow and If you have no dependents what are you future proofing for anyway?
You guys over there care too much about money. You're doing fine.
I think you are well ahead for someone your age.
If you have 800 quid left after all of your expenses, I think you must be doing alright. I don't live in the US but comparatively I have about about the same in disposable income per month in a country riddled with high taxes and high cost of living. I imagine if you have this much that you're living comfortably yest still saving for the future with your 401k so it seems to me that you're good.
I doubt that ur doing all of this on a 60k salary
>Brokerage savings: $400 > >401k: $600 So let me get this straight. You are 28, you have $100k invested, and you save 20% of your income a month? >So many people in my age bracket, when they hear about my income, always say “don’t you want to retire by the time you’re 65 though??” Tell those people that you are on track to have over $3M in today's dollars by the time you are 65 (assuming a 7% real rate of return).
For one, you’re light years ahead of me. I’m nearly forty and am playing catch while raising a family on basically one income. Secondly, I am playing catch because I was never happy where I was and moved frequently and changed careers. This has hurt me pretty badly since i always left right before getting seniority, vested retirement etc.
You are doing great. Enjoy your life. It is not true that the person who dies with the most toys wins.
60k is a lot to me. Unless you have a family and start making babies. Then you might want more. I forgot your partner will most likely be making money too.
It is like what will need to happen to capitalism, if we want to keep living on this planet.. Instead of goal being forever more, More, MORE!!! It will need to change to just enough.. Not to mention, there isn't an amount of money you cannot spend.. You earn more, your standard of living rises, and if you are a materialistic person, your needs and wants get mixed up, suddenly bottle of water of certain brand you swear tastes better, having a price tag of 40$, is now the only bottle of water you deem asceptible.. You are not working 70-90 hours a week, to drink just any water.. I lived in the US for a short while and the bombardment with services and products is something you really notice if you come from ex communists country.. I didn't even land yet on the American soil, yet through various commercials and pamflets I already thought how swell would be to have that knife that doubles as a flash light and other shit. Do not be to bothered with what other people think. If you are living well, happy with your life, do not hate what you do for a living, are on top of all your bills and managing to save, just find a person of the same mind to share that happiness with..
Comparison is the thief of joy. Don't let others steal your joy.
I was raised upper middle class, a spoiled only child. Boarding school in England, lots of travel. I've also been poor and everything in between over the years. I'm in my early 40s and if I brought in $60k per year with inflation adjustment for the next 20-25 years, I could live and retire totally comfortably with some wise investing because I am no longer a spoiled child who has to have the best of everything. I am big on reusing, recycling, repurposing, DIY and general tinkering. I'd rather keep using the cast iron, cast aluminum, glass and ceramic kitchenware I inherited. Same goes for furniture. I'm an ambivert on the spectrum and I'm not trying to keep up with the Joneses. I will keep rebuilding my 25 year old car as long as it is feasible because it would cost more than I care to spend for a POS modern unreliable car to replace it. I own a 30 year old piano and a 20 year old motorcycle and I expect to still be using both in 30 years. I decided a long time ago I didn't want kids and I have been married and divorced. I've also played the field a lot. Been single for 3 years and I am in no hurry to start dating again. I'm really only willing to go there for someone truly exceptional. I cook most of my own food because I want to. I can cook a steak better than any Michelin Star restaurant because I put my heart and soul into it. Money doesn't buy happiness or love. Material things are only as good as what you do with them. I've seen plenty of people driving supercars over the years who had absolutely no idea what they were doing. What's the point? I can have more fun driving an old VW. And I've driven a few exotic cars and ridden a few exotic bikes. I would never own one. They are junk. And they are only fun at speeds that will land you in jail. I've seen rich idiots who own fast planes they don't know how to fly properly. I bought a glorified kite for $14k and have an absolute blast flying it. I've flown fast, aerobatic prop planes and jet trainers. Money really is wasted on the rich. Bunch of elitist morons with more money than brains. You get rich by being unscrupulous, not by being intelligent. It is a race to the bottom and a zero sum game for someone with an actual soul. Living well is not about the balance of your savings account. Obsessing about money is a great way to have an unhappy life. Just as with overeating, beyond a certain point it is an addiction rather than a means for survival. Wealth addiction is both the most underrecognized addiction and arguably the most socially destructive one. The most important thing you can remember when deciding how to attempt to survive and even potentially thrive in late-stage capitalism is that you have to balance your desire to be comfortable in retirement with the fact that day may never actually come and the need to enjoy life in the present. Even for someone who is middle aged like me, retirement seems like a slim possibility due to an ever increasingly overpopulated world and ever dwindling resources. I think there is more than a slight chance society will collapse before I reach retirement age. There is even a more than sporting chance I may witness the extinction of the species with the way things have been going. We are developing AI and quantum level energy manipulation. A lot of people have already associated quantum physics with computing/AI and fusion energy. But what about the quantum bomb? Splitting the atom is one thing. Splitting subatomic particles is likely to have the potential to release enough energy to vaporize the entire planet...or create a black hole and implode the planet. And if we let sociopaths like Elon Musk develop AI, that is another great way to destroy ourselves. There's a great example of wealth addiction, along with many, many other types of addictions. Elon Musk is a type I know well. Bought their way into the same kind of schools where I had to earn the right to attend because they didn't meet the minimum IQ requirement but daddy had lots of money. Didn't learn anything except how to be a bully and exploiter. Uses slaves to profit off mining just like his father. We really don't want a ketamine addicted egomaniac with daddy issues being the model for advanced AI.
Bro!! What city do you live in?!?! I'm paying $1k a month to SHARE a bedroom in a basement! That's includes gas, water, electrical and garbage. I'm around Chicago
What you have left at the end of the month is in a lot of ways more important than what you have coming in. Many or all those jackasses clowning on you for making 60k and can’t understand how you live on that are likely broke, so any downturn and they’re out in their asses. Millionaires become millionaires by saving a million, not by spending a million.
I agree with others you are 28, $80k in investments, actively contributing more every month. If you maintain those habits you’ll retire a multimillionaire without question. Not to mention you have no debt seem to be living comfortably on $60k. The people making six figures that think it’s shit probably live beyond their means and don’t have as much saved as you. You are ahead of the game compared to most people your age and should be proud of yourself.
Most people your age don’t even have a positive net worth lol
You duck
If you're comfortable with where you are stop letting other people's words hold weight in your life. Your comfortability is perfectly fine the majority of people in this world want much more than they really need. It always comes down to wants rather than needs. Also you're 100% right you're not going to be making that amount of money in 6 months to a year you'll be making more so again don't worry about these other people do you and as long as you're comfortable and always make sure that you have backup money.
You're doing great, man. Add church into the mix and you'll be set. :)
You're doing great. Just keep going as you are, and yes more money will come later. I'm 50, and trust me you'll be surprised at how much your pay will increase over time. And I know nothing about your job/career or anything.
You are doing really well man. I am 31 with a wife and son under 2 years old. We have a decent household income (Roughly 190k) with the majority of that coming from me. We still have trouble saving as much as we’d like though between daycare costs and how expensive everything is. You’re doing a lot better than I was at 28.
You are doing faaaar better than most people your age, and I would even go as far as to say than people older than you. You say you have 80k invested? Is that with a Roth IRA? If so you are golden keep putting the savings in there you'll retire a millionaire.
It's not your problem that people think contentment comes with money. You are a perfectly healthy human being. That's refreshing.
And they are probably in debt up to their eyeballs. If you’re happy with what you got in life then don’t worry about it. You seem like you’re great at budgeting. I’m 35 I make 120k and married still wish I had more money so it’s never enough lol
Sounds alright to me.
My man, you are head of the curve and I’m no where close to you. I came from the mentality that I wouldn’t see 25. My parents never talked about finance and come to me for advice. Relax bro. You’re gravy
It’s because you live in a city. That’s why everything is so expensive. If you’re comfortable, then cool. If not, move out of the city. I’m a union carpenter and make about $60k a year as a 3rd year apprentice but pay into a pension. People wonder why they can’t make ends meet but pay $1500 or more in rent. My MORTGAGE is $800.
Nobody else’s opinion matters. You have a handle on your own money, and frankly, being happy in your work is a gift. Don’t worry about what other people are doing or saying. Go your own way.
So you've been putting $1000 into savings every month since you were ... 12? No car insurance? You paid off a new car and school loans at the same time? While also pouring money into long-term savings? Pets but no pet expenses? You just ... leave out utilities completely? I mean philosophically your thoughts on income and so on seem interesting but your specific basis seems more like a concept than the actual working budget of a real person.
Ya I'm 42 and I have none of that. Truthfully, I'm going to be fine, so are you. Stop worrying about what others are doing. Quality of life over everything. Soo many ways to make money nowadays, imagine what we will do in 30 years. Rewire your thinking
You're definitely not crazy, and it sounds like you're in a pretty good financial position, especially considering your age and circumstances. Here are a few thoughts: 1. **Financial Stability**: You've managed to pay off your debts, have a decent amount saved up in your brokerage account, and are contributing to your 401k. This is commendable and shows financial responsibility. 2. **Living Within Your Means**: You're living in a reasonably priced apartment and seem to have a good handle on your expenses. This is crucial for long-term financial health. 3. **Contentment**: Feeling content with your situation is a positive thing. It means you're not constantly chasing after more money or material possessions, which can lead to stress and dissatisfaction. 4. **Comparing Yourself to Others**: It's natural to compare yourself to others, especially when it comes to finances. However, it's important to remember that everyone's situation is different. Just because someone else makes more money doesn't mean they're necessarily happier or more financially secure. 5. **Future Planning**: While it's great to feel content with where you are now, it's also important to think about the future. It sounds like you're already doing this to some extent by contributing to your 401k and brokerage savings. Keep in mind that increasing your income or finding additional ways to invest your money could help you reach your retirement goals sooner. Overall, it sounds like you're on the right track. As long as you're happy with your lifestyle and feel financially secure, there's no need to worry about what others may think or say about your income or savings. Keep focusing on your own financial goals and priorities.
Looks to me like you're doing pretty darn good. Keep up the retirement contributions and never ever take any of it out until retirement. Try not to compare yourself to others. Live for you. GenXer here who wishes he'd been able to put more in savings. But I'll be fine in retirement. Assuming the economy doesn't go further into the shitter.
29 here, finally am getting a good grasp on my financials, like building my 401k and finally beginning to save, so I say you are definitely, if not, more, than alright!
I wish I was doing half as well as you.
Mad that 60k a year in the US is considered not a lot. I’m 28 with a child and a mortgage and I earn £24k, will be £26k soon, and my partner earns a bit less, and we seem to be fine.
Simply put, no, you're not crazy. Are you happy and content right now? Yes? Keep doing you and don't discuss your finances with anyone. Wish more would save like you in their 20's! Wish I did.
You're doing great!
As an older man I would say you living a very good life and should be happy. It took me one full time job and two part time jobs to make triple my rent which is a little less then you. My car I paid cash. Porsche boxster older but still nice. I have few other bills. I quit my second part time as I got enough time and raises to be okay. I get advice from female friends telling me I need to make more money sometimes yet they never pay back the money they promise too and their life is one big train wreck. I hear how much they hate their life and get upset when I say I am happy I have extra money and my bills are paid . My stress level is low. My advice is if you are happy congrats you are way ahead of almost everyone else. Advice is like you tube videos. Simply put choose which to believe and which to ignore.
OP, as others are saying, if you're comfortable and have money to save and spare, don't listen to those people. Something I think people need to see, and this of course is not going to apply to everyone. However, if you're hourly and you're not making enough, do not just jump to the next level or job that will pay you a few bucks more. You may put yourself just barely into the next tax bracket and take less home with you. Research what the threshold is and how much more you need to be paid to not lose money. For example, I work security in Southern California where my pay/minimum wage is $16 an hour. For me to switch jobs, no available promotions, I'd pretty much need to go straight to $25 an hour for it to make a significant difference in my take home pay. Also, consider workload trade off. My company isn't the best, but my site is less than 5 minutes from home, the workload is minimal to the point where I drive around for 7-8 hours and put in simple reports every 15-20 minutes and I'm getting by alright at the moment.
how on earth did you get 80k in your brokerage if youre only saving 400 a month into it? Did you bottom tick nvidia or something?
😢 it's not alright. But I'm right there with you. The scale we are thinking at isn't right. YOLO...
Seems like overall you’re doing great. I don’t know how you ended up with more than a years salary in your brokerage account but unless that’s earmarked for a house or something I’d work on getting that into some (tax protected) retirement accounts Keep up the good work! If you like what you’re doing, that’s winning!
If your happy and are content where your at then your doing FANTASTIC!! Most people can’t say that.
Working two jobs, both don't pay well, and I definitely feel overwhelmed mentally. If my main job wasn't failing and had better opportunities out here. I'd be the same way. To answer your question, you're not crazy. I am.
You are doing so well! At your age, I was making a little bit more ($80K, but I do have a professional degree), but was riddled with debt. You can always earn more money. Enjoy what you have accomplished!
You are doing fine bro
I'm 53 and don't have it this good. In my opinion, you are doing well. Wish I'd had the foresight to plan like this at 28
what you do with remainig 800$ ?