I would double check your info on engineer vs mgmt. Many times the cash comp is similar, but stock is hugely different. I may not be correct in your case, but that's how it works at many outfits. So, after stock it's usually much more lucrative
Something that people with money would say.Quote:
At the end of the day, it's only money.
QBCade said:
I would double check your info on engineer vs mgmt. Many times the cash comp is similar, but stock is hugely different. I may not be correct in your case, but that's how it works at many outfits. So, after stock it's usually much more lucrative
Gonna have to ask you to step back behind the rope. Pretty sure you don't meet the requirements to be on this board.Dill-Ag13 said:
Man y'all live like kings I guess with a $600k house and a couple $50k+ cars. $100k total income with a stay at home wife and two kids is plentttyyyy.
Dill-Ag13 said:
Man y'all live like kings I guess with a $600k house and a couple $50k+ cars. $100k total income with a stay at home wife and two kids is plentttyyyy.
Brian Earl Spilner said:
Funny how many people throw out the "start a business" thing like it's easy and the money will just roll in after that.
Most businesses fail.
Maybe you're just bad with money.Leander - Ag said:
100k is nothing
I agree with both points. Engineers have lucrative options as well though. If they stay technical and then leverage their deep technical knowledge in a startup. Technical staff can get stock options at large companies as well.AggiEE said:QBCade said:
I would double check your info on engineer vs mgmt. Many times the cash comp is similar, but stock is hugely different. I may not be correct in your case, but that's how it works at many outfits. So, after stock it's usually much more lucrative
My experience is that a talented Sr. Engineer is more valuable than your run of the mill manager to technical companies and management is certainly not placed on a pedestal. This is fairly standard across many industries, though certainly I'm sure there are exceptions.
Many firms are moving away from bloated middle management and flattening the track to either technical or management, but it's not seen as though one is better or more lucrative than the other.
I think you are wrong, 40k from the $1 million, plus SS give you around 80-100k depending on when you take it and if your spouse was a high earner.one MEEN Ag said:Congratulations! You now have enough principle to cover what is equivalent to your social security annual income just in time for the government to means test you out SS! Thanks comrade for doing your job. We are counting on you to fund the retirement of 100s of other people with big screen tvs and new cars.South Platte said:Income is one thing, savings/wealth is another. Our AGI has never been over $90,000 for married with 2 kids yet we're upper 40's and closing in on a $1m net worth, not counting any primary residence equity.Joe Boudain said:
I own my own business so am completely insulated from the madness that is the current job market, but from what I've gathered from my friends, $100k a year is nothing to shake a stick at.
I've even heard that an upper middle class family will pull in around $300k/year, which I thought would be somewhere north of top 1%.
Is this right?
Which brings in another discussion . . . how much is $1m net worth these days? Definitely not what it used to be.
Your 1 million will throw off 40k per year. You're going to need a couple more million if you want to do anything besides each cheese sandwiches and watch tv on your social security-less retirement.
I think this is the part that most people miss. A lot of our working salary goes to retirement savings, kids college fund, kids expenses, mortgage, etc. In retirement, most of those expenses should go away and your expenses go way down. Sure, you will probably travel more, but that can be done for cheap, and typically after a certian age you wont want to travel anymore.rodan85 said:one MEEN Ag said:Congratulations! You now have enough principle to cover what is equivalent to your social security annual income just in time for the government to means test you out SS! Thanks comrade for doing your job. We are counting on you to fund the retirement of 100s of other people with big screen tvs and new cars.South Platte said:Income is one thing, savings/wealth is another. Our AGI has never been over $90,000 for married with 2 kids yet we're upper 40's and closing in on a $1m net worth, not counting any primary residence equity.Joe Boudain said:
I own my own business so am completely insulated from the madness that is the current job market, but from what I've gathered from my friends, $100k a year is nothing to shake a stick at.
I've even heard that an upper middle class family will pull in around $300k/year, which I thought would be somewhere north of top 1%.
Is this right?
Which brings in another discussion . . . how much is $1m net worth these days? Definitely not what it used to be.
Your 1 million will throw off 40k per year. You're going to need a couple more million if you want to do anything besides each cheese sandwiches and watch tv on your social security-less retirement.
My budget for retirement is $85k and it includes money for some travel and an RV. Once your kids leave your expenses go way down. Take away your retirement savings and income taxes and your net expenses are a lot lower.
I've never heard of Parmesan Reggiano let alone seen it in a recipe. My family of 5 can't eat out for less than $40-50 a meal, but can easily cook a good meal at home for <$20.CaptnCarl said:
Ever had a recipe call for fresh Parmesan Reggiano?
I eat mostly at home and also eat well, but it's not very 'cheap.'
Prime NY Strips is used to buy once a week for $12.99/lb are now $18.99 lb.
Cyp0111 said:
$40-50 is cheap these days
AggieFrog said:I've never heard of Parmesan Reggiano let alone seen it in a recipe. My family of 5 can't eat out for less than $40-50 a meal, but can easily cook a good meal at home for <$20.CaptnCarl said:
Ever had a recipe call for fresh Parmesan Reggiano?
I eat mostly at home and also eat well, but it's not very 'cheap.'
Prime NY Strips is used to buy once a week for $12.99/lb are now $18.99 lb.
We rarely eat out as a family at places nicer than something like a Fuzzy's / Rosa's / Blaze pizza, etc. I don't like spending more than $15/plate even when I'm not eating with the kids (wife is the same) - we make good money, but aren't big on expensive restaurants. If we do splurge, then it has to be something we can't make better at home - Indian, Korean, etc.Sea Speed said:AggieFrog said:I've never heard of Parmesan Reggiano let alone seen it in a recipe. My family of 5 can't eat out for less than $40-50 a meal, but can easily cook a good meal at home for <$20.CaptnCarl said:
Ever had a recipe call for fresh Parmesan Reggiano?
I eat mostly at home and also eat well, but it's not very 'cheap.'
Prime NY Strips is used to buy once a week for $12.99/lb are now $18.99 lb.
I assume you're talking about fast-food because I've never seen a bill that cheap for a family of 5
How many times a month do you see a Jake from State Farm commercial, or those damn Liberty Liberty Liberty commercials? WE ARE FARMERS, da ta da ta da ta da! They're making a killing.CaptnCarl said:
To me, the biggest elephant in the room is insurance.
Self employed people are paying around $1,400 month, and a previous poster mentioned long term care of $8k month for an elderly parent.
Meanwhile, how many professional sports stadium have a name sponsor of an insurance company?
If Insurance costs come down, much of that $100k would be back in the pedestrians pocket.
They're doing it with credit cards. Their reckoning day will come, trust me.one MEEN Ag said:
At bible study this week, we talked about cost of living, shrinking middle class, etc.
A young, single teacher told me that 40k is middle class and that her friends getting 50k are buying nice homes, nice cars and living a good life. And that homes have only increased in line with people's salary over the last 30 years - they aren't outpacing inflation.
I told her looks can be deceiving. My kid is getting tubes put in his ears and we just got the bill. $4,500. 40k ain't gonna cut it with a wife, kid, and another kid on the way. Save your money, you'll need it later on.
She had this tone that I was just another angry white conservative who was out of touch.
Y'all need to pray for her. Her 30s are going to be rough one day.
This. Plenty of the most talented, uneducated heavy equipment operators in the Houston area making over 100k per year with overtime pay included. And the best ones will still quit and go to a different company for more money.Leander - Ag said:
100k is nothing
Sea Speed said:
Or will it? If the economy tanks and the s really hits the f aren't we all really in the same boat? Except they obviously don't really care
The majority of people in the US do not make six figures. Its still a big dealMas89 said:This. Plenty of the most talented, uneducated heavy equipment operators in the Houston area making over 100k per year with overtime pay included. And the best ones will still quit and go to a different company for more money.Leander - Ag said:
100k is nothing
rodan85 said:I think you are wrong, 40k from the $1 million, plus SS give you around 80-100k depending on when you take it and if your spouse was a high earner.one MEEN Ag said:Congratulations! You now have enough principle to cover what is equivalent to your social security annual income just in time for the government to means test you out SS! Thanks comrade for doing your job. We are counting on you to fund the retirement of 100s of other people with big screen tvs and new cars.South Platte said:Income is one thing, savings/wealth is another. Our AGI has never been over $90,000 for married with 2 kids yet we're upper 40's and closing in on a $1m net worth, not counting any primary residence equity.Joe Boudain said:
I own my own business so am completely insulated from the madness that is the current job market, but from what I've gathered from my friends, $100k a year is nothing to shake a stick at.
I've even heard that an upper middle class family will pull in around $300k/year, which I thought would be somewhere north of top 1%.
Is this right?
Which brings in another discussion . . . how much is $1m net worth these days? Definitely not what it used to be.
Your 1 million will throw off 40k per year. You're going to need a couple more million if you want to do anything besides each cheese sandwiches and watch tv on your social security-less retirement.
My budget for retirement is $85k and it includes money for some travel and an RV. Once your kids leave your expenses go way down. Take away your retirement savings and income taxes and your net expenses are a lot lower.
Personally I am looking to take that $85k from my investments/retirement accounts for 10 years and delay SS until 70. I won't be eating cheese sandwiches and just watch TV.
My wife is 6 years younger. I am taking it at 70 for her. So she can have a higher guaranteed income after I am gone. If it was not for that, I would be taking at 62 or FRA.one MEEN Ag said:rodan85 said:
I think you are wrong, 40k from the $1 million, plus SS give you around 80-100k depending on when you take it and if your spouse was a high earner.
My budget for retirement is $85k and it includes money for some travel and an RV. Once your kids leave your expenses go way down. Take away your retirement savings and income taxes and your net expenses are a lot lower.
Personally I am looking to take that $85k from my investments/retirement accounts for 10 years and delay SS until 70. I won't be eating cheese sandwiches and just watch TV.
First congrats on being close to retirement and having a plan. PersonalIy, I believe $1 million+ nest egg folks will be means tested out of SS during my lifetime. So in my calculations I'm back at 40k per million, and no government agency is coming to save me. That's just my view, I hope I'm wrong though.
Also, the actuarial tables for SS are in the houses favor.
I would take SS as soon as you can. There's a lot of people who pass away between 65-70, and the government would love it if they never had to pay you out a penny. When my parents looked at the numbers, it was a wash if they delayed the money versus took it now, invested it conservatively, and used it if necessary.