It's way more common than you think.
topher06 said:
Biglaw attorneys make $500k+ in their thirties. Dated a doctor who made a little under a million a year for a bit, early 30s. Think it's completely reasonable that people in their 30s make mid six figures
jja79 said:
It's way more common than you think.
You hear it a lot because it is true. The average person has no savings and lives paycheck to paycheck.$30,000 Millionaire said:techno-ag said:He needs to do a Dave Ramsey snowball and knock out that debt.$30,000 Millionaire said:YouBet said:jja79 said:
I talked to a 30 something year old Friday that is straight salary. $50,000/month but couldn't qualify him for a mortgage because his debt to income ratio is too high and he doesn't have any money for a down payment.
$600k a year?
Don't be shocked. I have seen it happen.
It's not how much you make, it's how much you save.
I hear this a lot and that's just not true. A teacher can save 100% of their income their entire career and probably have less than $1.5M in principal. They won't crush it unless they learn to invest
Well, it's not but I'm not sure there is any point in arguing about it.jja79 said:
It's way more common than you think.
YouBet said:Well, it's not but I'm not sure there is any point in arguing about it.jja79 said:
It's way more common than you think.
Full comp package beyond just salary makes it more common, yes. My wife is about there once you factor bonus and RSU's on top of her salary. Maybe that's what some on here were saying. She's also an executive.752bro4 said:YouBet said:Well, it's not but I'm not sure there is any point in arguing about it.jja79 said:
It's way more common than you think.
My wife did it for a decade in her 30, albeit as an owner of her business as well as a practicing DVM before she burned out and retired.
I work fortune 100 finance, and all MDs are north of that too, but the structure of payment isn't just a $50k monthly salary. The bonus and rsu structure keeps you stuck to the corporate teet waiting on that next vesting period.
Out in Left Field said:
Damn, inflation be crazy. Now the average TexAgs salary is $600k.
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I talked to a 30 something year old Friday that is straight salary. $50,000/month but couldn't qualify him for a mortgage because his debt to income ratio is too high and he doesn't have any money for a down payment.
I don't think anyone said that. I'm in banking and see lots of people's financials. It astounds me how many high 6 figure and 7 figure earners there are. I never said it was typical. I said it's more common that what people think, or so I believe. And yes many of those I talk to and do business with in that income range are on this site.Out in Left Field said:
Damn, inflation be crazy. Now the average TexAgs salary is $600k.
More common than you think and common are two different things.AggiEE said:jja79 said:
It's way more common than you think.
We must have different definitions of common, but <1% of the population isn't common in my view
jja79 said:I don't think anyone said that. I'm in banking and see lots of people's financials. It astounds me how many high 6 figure and 7 figure earners there are. I never said it was typical. I said it's more common that what people think, or so I believe. And yes many of those I talk to and do business with in that income range are on this site.Out in Left Field said:
Damn, inflation be crazy. Now the average TexAgs salary is $600k.
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"it's more common than you think!"
"how do you know how common I think it is?"
"I don't, but it's more common than whatever that is"
"don't you ****ing tell me how common I think something is!"
Hungry Ojos said:
I've been a licensed attorney for nineteen years. I know many, many other attorneys across the state in all different practice areas. The average salary for a person with my experience is like $170k a year. I have never come across a single lawyer in their 30's making $600 or even $500k a year. Are there exceptions? Sure. But the reality for most attorneys is that they don't make NEAR what the public thinks they make.
Come on, man. We've all read The Firm.Hungry Ojos said:
I've been a licensed attorney for nineteen years. I know many, many other attorneys across the state in all different practice areas. The average salary for a person with my experience is like $170k a year. I have never come across a single lawyer in their 30's making $600 or even $500k a year. Are there exceptions? Sure. But the reality for most attorneys is that they don't make NEAR what the public thinks they make.
gig em 02 said:Hungry Ojos said:
I've been a licensed attorney for nineteen years. I know many, many other attorneys across the state in all different practice areas. The average salary for a person with my experience is like $170k a year. I have never come across a single lawyer in their 30's making $600 or even $500k a year. Are there exceptions? Sure. But the reality for most attorneys is that they don't make NEAR what the public thinks they make.
To be fair, that's in line with big law salary expectations, but that is certainly a minority of attorneys.
This is some TikTok ass financial advice. In theory, you can make the above work, but there are a lot of risks and caveats that go along with it.Dan Scott said:
This countries tax code and economic system benefits investors and entrepreneurs. You can't make it big working for somebody. You can have a nice middle class life but that's it.
Buy some land and develop it into office/warehouse. You should be able to collect more than enough monthly to service the debt. In a few year it's all paid off. In the meantime, you borrow against it and go build another one. Eventually you'll be making 6 figures doing nothing. It's not like a house where you have to find a tenant every year. You get to expense everything for tax purposes.
Well - we at least watched the movie.techno-ag said:Come on, man. We've all read The Firm.Hungry Ojos said:
I've been a licensed attorney for nineteen years. I know many, many other attorneys across the state in all different practice areas. The average salary for a person with my experience is like $170k a year. I have never come across a single lawyer in their 30's making $600 or even $500k a year. Are there exceptions? Sure. But the reality for most attorneys is that they don't make NEAR what the public thinks they make.
mwp02ag said:
My wife was a RN in the OR prior to becoming a Realtor. She works with lots of highly paid surgeons. She has always said they are just highly paid technicians, trading thier time for money just like most of the population. The real moral of this story is human psychology is pretty damn consistent. Robert Kiyosaki explains it best in his Cash Flow Quadrant book by saying most people spend the same percentage of income no matter how much they make. It's just like how we will allow work to expand to the time allotted for it.
Becoming wealthy takes a different approach all together where you invest earned income and live off the cashflow.
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I have a relatively decent net worth because I am a saver