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

[Username]

really depends on what your expenses/commitments/obligations are like

a single guy in his mid 20s sharing an apt and bills w friends is going to enjoy 100k a year a lot more than a married father of 3 w a mortgage, 2 car notes and bills out the ass.

I knew you would be the first to reply.

 

[↓R↑LYB]

What you're basically claiming is its

People won't act vs. People simply don't have the knowledge

You're siding with the fact that people won't act and that's the end all be all because financial intelligence is common sense. It appears we will have to agree to disagree because while there are many people who know what they should be doing and still choose not to, there are many many more who simply weren't taught about money and how to handle it.

And since you claim to know it all how about you raise up out of this thread since you aren't adding any benefit to it to all. How about you drop some uncommon yet common sense instead.

Cosign. There's some shyt my pops taught me about business and ownership, but there were a lot of shyt that I didn't know about like long term investments and having income generating assets. To some people it's common sense, to others it'll literally have me like

I'm not gonna tell someone how to live their life or how to spend their money. You earned it, you do with it as you wish. I just know that there's a certain way I'm trying to ultimately become a man of leisure.

 

[ClassyME]

10k/mo is about 200k/year after taxes. Uncle Sam is the most vicious pimp in history

 

[NaijaProdigy Redux]

It's really more about free cash flow than face-value income.


Anyway, working in NYC finance helps as is and then I've also had a brokerage account since I was a kid that was heavily invested in high dividend yielding stocks, MLPs and royalty trusts so the compounding effect of that over the last 20+ years has been tremendous.

 

[jfkennedy]

Good shyt. I'm not all that reckless with my coins. But, I do splurge on suits and shyt. I can write that shyt off tho. Any of y'all cop gold or silver bullion? An OG I met at this function (banker cat) said it would be wise to cop some on the reg and leave it in a safety deposit box. Considering making this method a habit in the new year. Probably roll with silver tho.

I was just talking to an OG about a month ago, a friend of my dad's. He was telling me how he buys silver and trades it and all of that. Sounded like a good side hustle. He used to work at a car plant, so that was just his hobby/extra income.

 

[↓R↑LYB]

It's really more about free cash flow than face-value income.


Anyway, working in NYC finance helps as is and then I've also had a brokerage account since I was a kid that was heavily invested in high dividend yielding stocks, MLPs and royalty trusts so the compounding effect of that over the last 20+ years has been tremendous.

Exactly, compound interest is the easiest way to become a multi millionaire. It takes time, but the returns are just

EDIT: never heard of royalty trusts before....time to research

 

[-G$-]

I knew you would be the first to reply.

 

[nalej]

feels about the same as when I made half as much. that's because I have more obligations such as mortgage and other shyt. maybe a little bit more spending money but it's not like you're balling w 100k.

 

[PimpHandStrong]

If some haven't read the book Rich Dad , Poor Dad I think that's a good starting point to really start your path to financial freedom.

 

[HookersandIceCream]

Like this

 

[Young_and_Reckless]

It's not nearly enough as some think. Especially when you have a family.

 

[NaijaProdigy Redux]

Exactly, compound interest is the easiest way to become a multi millionaire. It takes time, but the returns are just

EDIT: never heard of royalty trusts before....time to research

Ya look into it but also pay special attention to the tax filing implications....it can be complex so you need a good accountant.

 

[MeachTheMonster]

If some haven't read the book Rich Dad , Poor Dad I think that's a good starting point to really start your path to financial freedom.

Waste of time. Those books are nothing but self ego boosting feel good rhetoric that offer no actual advice.

 

[OneManGang]

God willing, i'll be making 120k+ by thirty. I just hope im not too old to enjoy it by then .

EDIT: but dam, alot of nikkas saying 100K still aint enough to be comfortable? I know circumstances are different with bills and a family....but 90%+ of this country aint making that much. So basically everybody is struggling??

 

[↓R↑LYB]

Ya look into it but also pay special attention to the tax filing implications....it can be complex so you need a good accountant.

Yeah, I was just looking at the tax implications, but having any income generating asset is never a bad thing in my book.