How old were you when you first hit $100k or over in yearly salary/earnings? (1 Viewer)

[Mavsker]

29 for me, which as it happens was last year. Although if you looked at my take home pay you'd expect I make $50k.

 

[Frogsker30]

im 26 haven't hit close to that yet. only about 63K. But only 30k in student loans (including grad school). Plan on going back to grad school to help get to that 100k. but right now I have a great job I love that has an amazing pension plan.

 

[Frogsker30]

Mine is in non profit work, I’ll be lucky if she ever hits 70k

we need more docs like her!!
Mine hasn't fully decided what she wants to do or if she just wants to do clinical research.

 

[LoudHogRider]

29 for me, which as it happens was last year. Although if you looked at my take home pay you'd expect I make $50k.

I remember by first breakout year in IT consulting (year two, in the '90's) and was overjoyed at the gross #. At tax time, I realized that I paid more in Federal income tax that year than I made in gross compensation when I left the LTL trucking industry only two years prior. It was a helluva eye opener. Sheeeeit - I need some more deductions! This W-2 income stream is killing me taxwise!

 

[Mavsker]

I remember by first breakout year in IT consulting (year two, in the '90's) and was overjoyed at the gross #. At tax time, I realized that I paid more in Federal income tax that year than I made in gross compensation when I left the LTL trucking industry only two years prior. It was a helluva eye opener. Sheeeeit - I need some more deductions! This W-2 income stream is killing me taxwise!

That's crazy. The taxes are pretty unforgiving. I'm also in the rail industry so instead of paying into social security I pay into railroad retirement, which takes an extra 5%. So $100k is the social security equivalent of $95k right off the bat. Then federal and state income taxes, health insurance, etc. Then I take out $450/month to max out a dependent care savings account for a portion of daycare and put about $1000/month into my 401k which as of October* had underperformed my savings account over the last 7 years. I've been tempted give up on that and just start buying real estate.

 

[KidsSeeGhosts]

That's crazy. The taxes are pretty unforgiving. I'm also in the rail industry so instead of paying into social security I pay into railroad retirement, which takes an extra 5%. So $100k is the social security equivalent of $95k right off the bat. Then federal and state income taxes, health insurance, etc. Then I take out $450/month to max out a dependent care savings account for a portion of daycare and put about $1000/month into my 401k which has underperformed my savings account over the last 7 years. I've been tempted give up on that and just start buying real estate.

We own two rental properties and my wife tries to talk me into selling at least every 2 months.

 

[RedSavage]

That's crazy. The taxes are pretty unforgiving. I'm also in the rail industry so instead of paying into social security I pay into railroad retirement, which takes an extra 5%. So $100k is the social security equivalent of $95k right off the bat. Then federal and state income taxes, health insurance, etc. Then I take out $450/month to max out a dependent care savings account for a portion of daycare and put about $1000/month into my 401k which has underperformed my savings account over the last 7 years. I've been tempted give up on that and just start buying real estate.

 

[Jim14510]

That's crazy. The taxes are pretty unforgiving. I'm also in the rail industry so instead of paying into social security I pay into railroad retirement, which takes an extra 5%. So $100k is the social security equivalent of $95k right off the bat. Then federal and state income taxes, health insurance, etc. Then I take out $450/month to max out a dependent care savings account for a portion of daycare and put about $1000/month into my 401k which has underperformed my savings account over the last 7 years. I've been tempted give up on that and just start buying real estate.

It's good retirement income though. Forced savings.

 

[Mavsker]

Last time I checked was in October where I'd averaged 2.9% over 7 years.
I just checked again and now I'm up to 19% so this is no longer accurate lol

 

[vailhusker]

29 for me, which as it happens was last year. Although if you looked at my take home pay you'd expect I make $50k.

That's crazy. The taxes are pretty unforgiving. I'm also in the rail industry so instead of paying into social security I pay into railroad retirement, which takes an extra 5%. So $100k is the social security equivalent of $95k right off the bat. Then federal and state income taxes, health insurance, etc. Then I take out $450/month to max out a dependent care savings account for a portion of daycare and put about $1000/month into my 401k which as of October* had underperformed my savings account over the last 7 years. I've been tempted give up on that and just start buying real estate.

When I saw your first post I was going to ask if you worked for the railroad. 🤣

 

[MrKnightedHusker]

Run your own business?

Yes. Several startups and some fixits.

 

[Papa...Football]

I was 12. So many husker fans love kool-aid shit flew off the shelves.

 

[nja13]

I was 23 when a friend of my dad’s hired me to move to Nebraska to mentor college age kids. I haven’t actually seen any of the money yet, but well over 100k is coming my way. I’m 24 now, so maybe that’s the actual answer.

 

[LoudHogRider]

I was 23 when a friend of my dad’s hired me to move to Nebraska to mentor college age kids. I haven’t actually seen any of the money yet, but well over 100k is coming my way. I’m 24 now, so maybe that’s the actual answer.

The check is in the mail strategy? LOL.

 

[nja13]

The check is in the mail strategy? LOL.

I'm not too worried about it. I have a signed contract that is public information.

 

[Woodrow F Call]

Was either 25 or 26. Education was 3 hrs long and cost around $250 for a class A cdl I obtained when I was 18.