Re:All Hollowed Out: The lonely poverty of America’s white w...
by dpark on Tuesday January 19, 2016 @11:51AM
(#10931915)
> You can actually just flat out save 1 million by mid 30's working for big co.
Yep, if you're serious about saving, this is entirely doable. I'm not at all on track for this because I'm not dedicated enough. But when I lived and worked in the bay, I knew a couple of guys who saved >50% of their take-home every year. They maxed out their 401Ks in the first few months and then redirected the money to other savings. Someone earning $100K before taxes can absolutely save a million in cash by saving aggressively for a decade and a half.
Hell, my roommate in grad school earned $30K/year and managed to save $10K one year, despite buying a (used) car. This was the result of cheap cost of living and generally just being really frugal.
Yep, if you're serious about saving, this is entirely doable. I'm not at all on track for this because I'm not dedicated enough. But when I lived and worked in the bay, I knew a couple of guys who saved >50% of their take-home every year. They maxed out their 401Ks in the first few months and then redirected the money to other savings. Someone earning $100K before taxes can absolutely save a million in cash by saving aggressively for a decade and a half.
Hell, my roommate in grad school earned $30K/year and managed to save $10K one year, despite buying a (used) car. This was the result of cheap cost of living and generally just being really frugal.