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| *Ostroff, Fair and Company>>>Marketing & Sales |
What is a good income at age 30? |
I am 28 years old and male. Been on my job in sales since college (6 years). The hours and benefits are great and it is on cruise control. I have gotten comfortable and I don't want to get promoted because the travel is too much even though it pays 130k. But I keep questioning if I am falling behind and getting lazy. I just want to have a great financial future. I also am grateful and thankful for what I do have. Thanks to all posters with serious answers. I have 2 questions.. 1. I am making around 90K. Is that a good income for a "go getter"? If I make that for the next 10 years is that okay? 2. My job allows a very flexible schedule and lots of benefits. Are there very many jobs or people out there that make alot more? Or am I doing pretty well? Thanks again! It does not matter how much you make but how much you spend. Sit down with a financial guy and project your savings with a 5% bump in income a year. change it to know increase. If you are truly in sales then the commission portion of your job should allow you to increase the sales annually to a certain extent. Also the simple math of what you are selling going up with inflation will increase your commission as well correct? Then your job could be inflation proof? I make a lot more than 90K a year, I also pay for everything that happens. I pay for the benefits of me and those that are employed by me. I buy the pen that sits on the desk. I am the expense account for lunches and golf. I also have to save and match for retirement and all the taxes Incorporated with employing someone. I am not complaining just saying that when it boils down, I would have taken a 90K a year job sold everything I could gained experience and raised a family not to mention played more golf and had better lunches on the expense account. You're doing REALLY well. My father makes less than $70k and managed to raise a family of 9 children comfortably. Something you didn't mention is your location, this can make a large difference in how comfortable your life is based on your income. Some locations require a lot more. What are your responsibilities? Are you putting money away for retirement? Are you falling behind on your bills? If you are comfortable now (and saving money) then don't switch for a promotion that won't make you happy! Do you need a wife cause my aunt is 40 and only makes about 28k a year as a janitor for the city we live in if you ask me your doing pretty good....so Will you marry me lol j/k :P As you age, you will find that income does not matter as much as saving. You are very young so if you have not began saving for retirement, you can start soon. You will eventually have a 30 year mortgage. are you saving enough now to make the down on this>? have you considered your retirement income>? You won't be young forever. I suggest sitting down with a cpa. He will have all the benchmarks you should be meeting by the age of 30, 40 etc. good luck to you! Question 1.) You already know the answer, but if you want to get some pats on the head here you go: Yes 90K is good for your age. Since you are a college graduate I would say you also already know that making the same money for the next ten years is not OK. You need to be moving constantly, even if it's only COLA"s. Question 2.) People obviously make a lot more. Most of them are in sales also... However, I don't think many of the well to do sales people have great benefits, more often than not, they probably pay for their benefits. I guess it all comes down to where you live as to how your income is going to allow you to live, save and be prepared for what the future brings. If you are after a second income (part-time/home based) I could recommend something that my husband and I are doing with no risk to our current careers. We have realized that even though my husband is on a similar pay level to you here in Australia, things are never certain and can change at any time. We need to know that we have a Plan B in place for our children's security. If you would like to know more, feel free to contact me. Good luck. Depending on where you live, that may be very good. I live in the Bay Area (CA) and that is slightly above average here. Since you live in the Central part of America, your rich; LoL. Good choice of industry; investor or agent? |
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