Making 100k a year - What's it like?

[Mr. Somebody]

The bad thing about high income is you begin to get initiated into a gang of expectations that are hard to break. It is easy to become a slave to money. This is why its important to find women who love you for who you are because they're may come a time when the money goes and you have to ask, will the honey stay?

 

[Sierra Mist]

the point is to pass down that wealth to your children, not waste it on clothes and jewelry.

Good point but not having children and making money>>>>>>>>>>
I'll have children in 15 years though but enjoy yourself while you still can breh.

 

[ThaBoyBam]

the point is to pass down that wealth to your children, not waste it on clothes and jewelry.

You're right. I don't have any kids yet tho

But yea, I gotta grow up

 

[↓R↑LYB]

People have this fantasy about being super frugal making all that loot. Yea the fukk right. You gonna ball out on something, be it whip, jewels, crib, cloths. No way you gonna work all hard and not spoil yourself. What's the point?

Financial freedom. If your view on money is to give it right back to someone else, you'll always be a slave to it. Everything you purchase takes money out of your pocket, and puts it in someone else's.

Money should be used as a tool to provide you with freedom. The way you describe money, it's going to be used as a tool to keep you in debt.

In 2-3 years I should have enough income generating assets to where I no longer have to work at all. Meanwhile you've spent 10s of thousands of dollars to give someone else that same financial freedom you'll never get.

 

[the bossman]

depends on your location. East coast hubs like NYC and DC. 100k aint shyt

 

[MikeBrownsJob]

Don't think about starting your own lawn care business, do it. Save up money for equipment, start researching the amount of money you'll charge, and begin networking to effectively target your potential clients. Ownership is the only way to true wealth. Also get ready to be disappointed. I pay about 33% of my income in taxes. I pay more in taxes now per month than I used to take home when I was making 50k/year. Lastly you won't feel any different. You're still going to have to budget. You're still going to have save. And you're still going to have to be responsible and sensible with your money.

Tips:
Have a plan and don't think of it as a quick hustle. Building up takes time. You're most likely not going to jump from 40k to 140k in 3 weeks. You'll have to have a sound plan, and spend the majority of your time executing that plan.

Make your financial goals your priority. If you spend more time bullshytting (on the internet, playing video games, watching TV) than you do pursuing your goals, you'll never be successful. You have sleep for 8 hours, and work for 8 hours. If you spend that other 8 hours fukking around, don't complain about not being financially successful.

Don't be a broke high earner. Making 6 figures doesn't mean your rich. It means you have a lot of income. Don't blow your money on bullshyt. I made myself the promise that my monthly bills will no go over $2000/mo, regardless of how much I make. I still drive the same car, still shop the clearance rack at Macy's, and I'm still stingy with my money. Right now I'm saving around ~75% of my income and I give myself an allowance of $100 week (which includes gas). If I want to buy something, it has to come out of that $100. Including haircuts, going out with friends, going out to eat, alcohol, etc.

Purchase income generating assets. Once you hit 6 figures, don't blow your money on bullshyt. Don't go out and buy an Audi, an expensive house, and expensive clothes. Purchase things that will increase in value. Stocks, bonds, various funds, real estate holdings, etc. You should have multiple streams of income.

I'm an IT consultant.

 

[marcuz]

Good point but not having children and making money>>>>>>>>>>
I'll some in 15 years though.

depends on your goals in life

i don't want kids either, but i feel like i'm going to regret it when i'm older. having kids in and of itself is an investment in your future. when you're elderly or sick, you'll want family to take care of you.

 

[mtu wa chuma]

@typicalcolinikka where u at?

 

[Heafcliffe]

The couple people I know who make between $115k-$135k a year are always crying broke and shyt. They making good money but they have kids in college, student loans, mortgage, car loans, etc that's eating there check every month. I know one dude is making like 9k a month after taxes and when he broke it down for me, I was like damn I have more bread saved than you at months end and I only make in the 40's .

So what was his breakdown for him to cry broke?

 

[Akata Man Bromo]

even off this one, the amount they took off was enough to buy a fully loaded benz. irs stay on they bullshyt

nikka do you do?

That check is 4 times what i make a year

 

[the bossman]

Don't think about starting your own lawn care business, do it. Save up money for equipment, start researching the amount of money you'll charge, and begin networking to effectively target your potential clients. Ownership is the only way to true wealth. Also get ready to be disappointed. I pay about 33% of my income in taxes. I pay more in taxes now per month than I used to take home when I was making 50k/year. Lastly you won't feel any different. You're still going to have to budget. You're still going to have save. And you're still going to have to be responsible and sensible with your money.

Tips:
Have a plan and don't think of it as a quick hustle. Building up takes time. You're most likely not going to jump from 40k to 140k in 3 weeks. You'll have to have a sound plan, and spend the majority of your time executing that plan.

Make your financial goals your priority. If you spend more time bullshytting (on the internet, playing video games, watching TV) than you do pursuing your goals, you'll never be successful. You have sleep for 8 hours, and work for 8 hours. If you spend that other 8 hours fukking around, don't complain about not being financially successful.

Don't be a broke high earner. Making 6 figures doesn't mean your rich. It means you have a lot of income. Don't blow your money on bullshyt. I made myself the promise that my monthly bills will no go over $2000/mo, regardless of how much I make. I still drive the same car, still shop the clearance rack at Macy's, and I'm still stingy with my money. Right now I'm saving around ~75% of my income and I give myself an allowance of $100 week (which includes gas). If I want to buy something, it has to come out of that $100. Including haircuts, going out with friends, going out to eat, alcohol, etc.

Purchase income generating assets. Once you hit 6 figures, don't blow your money on bullshyt. Don't go out and buy an Audi, an expensive house, and expensive clothes. Purchase things that will increase in value. Stocks, bonds, various funds, real estate holdings, etc. You should have multiple streams of income.

I'm an IT consultant.

co-sign this message. but what kills me is I see very few brothas in the IT consulting industry

 

[↓R↑LYB]

The couple people I know who make between $115k-$135k a year are always crying broke and shyt. They making good money but they have kids in college, student loans, mortgage, car loans, etc that's eating there check every month. I know one dude is making like 9k a month after taxes and when he broke it down for me, I was like damn I have more bread saved than you at months end and I only make in the 40's .

That's the trap that a lot of people fall into. Making a lot of money doesn't mean anything. It's about how much money you get to put away. It's easy to look rich. Buy a big house, buy an expensive car, buy name brand clothes.

But if you lost your high income earning job, you're likely to commit that. You've fallen victim to the rat race and you have'n't mastered money, it's mastered you.

 

[MikeBrownsJob]

Financial freedom. If your view on money is to give it right back to someone else, you'll always be a slave to it. Everything you purchase takes money out of your pocket, and puts it in someone else's.

Money should be used as a tool to provide you with freedom. The way you describe money, it's going to be used as a tool to keep you in debt.

In 2-3 years I should have enough income generating assets to where I no longer have to work at all. Meanwhile you've spent 10s of thousands of dollars to give someone else that same financial freedom you'll never get.

but cant you do both?

 

[↓R↑LYB]

co-sign this message. but what kills me is I see very few brothas in the IT consulting industry

I'm not sure what to tell you, I see a lot. I come across them all the time. I'm in networking/security though.

 

[Born2BKing]

So what was his breakdown for him to cry broke?

2 mortgages, 2 daughters in college, a few car notes (His 2 cars and both of his daughters cars), his student loans were crazy, etc. That was the main things I can remember. Also, he had an ol lady who was out of state who he flew to see like damn near every weekend.