How to Save $100k on a $30k Salary in NYC

Water Cooler
#21

Spent the latter half of my 20s paying off all my student debt and making up for some comically bad decisions of my early 20s. Finally debt free at 31 and… the girl I’ll likely be asking to marry me soon has 150k left in student loans. Anyone have experience with that? Lol.

Whatever, I always manage to get by. Figure with 4 years of max contribution + match I can hit 150k by 35.

#22

Sorry to hear :frowning_face:. Hope you get well soon

#23

Hope shes an MD

#24

How much muni interest does 100k work out to anyway?

#25

I don’t max out retirement savings, because I want liquidity to invest in things that hopefully will have higher returns than public stocks, but I meet that benchmark with several years to go. It’s actually pretty small compared to what I like, but unfortunately I had a lot of student loans. Honestly it doesn’t seem hard to accumulate that amount of you do not live in NYC or San Francisco. Most of my finance friends will easily be at that level by 35. But maybe my friends are higher savers than average. They also primarily live in low cost areas such as Texas and others

#26

This thread is doing wonders for my already huge ego. Unless IHIHM shows up to pwn us all, I’m well in the lead. Have fun working into your 60s suckers.

#27

she can always sell her an*l virginity…

#28

Def not an MD. Time to sell the booty. And delete my browsing history.

#29

dbl

#30

if you aint putting aside enough dough in your 401k to receive the max company match you should find the rustiest hacksaw and get to work

#31

Enter Ohai… Or BS’s trust fund…

#32

Guys, guys, the article clearly states that high yield savings accounts of 4% and CDs are the way to go! Forget the 401k.

#33

^enter 50% of water cooler LOL

#34

For the record, I am uncomfortable with how this is worded given recent proposals of selling anal virginity.

#35

Even if you were 30 and saved zero as of today, 25 years of max contribution just through a 401k and a reasonable company match could net you roughly 1.5mil. No need to work til 60.

#36

$1.5mm is your number? I’m shooting for $5.5 by 55.

Image result for come at me bro gif

#37

Well no, that’s merely a hypothetical. I’ll be long dead by 55.

#38

applause the rock amazed GIF

#39

im banking on knocking my gf up and locking in her rich parents & ivy league grad school degree. SAHD status gonna blow you all out the water. Youll be slaving away and ill be knocking back scotches rubbing one out at 11am

#40

I fell and hit my head.