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24 yo making $100K

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Originally posted by: Engineer
Originally posted by: SampSon
Why arn't you dumping incredible amounts into investments? They will most likely give you a better return on your money than your house. But to each their own.

Also, disney world? You got a bunch of extra cash and you pick disney world? Disney is fun, but there has to be something umm, funner!
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The extra investments have already been started! 😀 Had a 7% mortgage which isn't a bad return consider the last few years. Now the market can run wildly to the upside as I invest more into it! 😀

As for Disney, only one day in the park. Staying at the Disney Resort (for the kids) and running around Orlando while not speeping by the pool. Also, our 15th wedding anniversary next week to celebrate...woooohoooo! 😀


I have a life...work then home....rinse and repeat! 🙁

By the way, are all of you 20 somethings investing some of that big paycheck that you're making? If not, you should (and I don't mean invest it all. You can still spend and play, just save some of it! 🙂 )
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Don't "invest" too much money into your house. You will never see a return on it. The money you dump into the house is value in use, not true value.

Well since you have the kids the disney is great. Hell even as adults disney is great. Though if it was just the grown-ups I'd choose elsewhere.

I, as a 20 something, am investing well enough. Much of it goes into the industry I participate in.

You need to learn a bit about rent prices in NYC. You cannot live in Manhattan on $35k unless you live in a 200 square foot (yes two hundred, not an exaggeration) studio apartment eating ramen.
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You need to learn that you have no idea what you're talking about. Don't you live down south? What the hell do you know about NYC?
 
Originally posted by: tami

i don't live far from you, and i'd love to go to westchester (i drive through there every day to get to work) to slap you upside the head.

that said, did you know that approximately 30% of westchester cannot feed themselves on a regular basis? click here for statistics.

let me tell you something. i lived on about that amount in the city and it was not that easy if i wanted to pay my basic bills and rent (and i didn't live in a very expensive apartment either). since you live outside the city, though, i can imagine that your rent is significantly cheaper so your quality of living is a bit better and you have more money for leisure while your city friends do not.

you are spoiled. i hope you get $5 presents from all your friends when (if) you get married.
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I guess I wasn't clear on that last statement, I wasn't referring to all the people, I was referring to the 3 people I know that makes 35k and live in the city.

I should just post their friendster links..
 
Originally posted by: Eli
Originally posted by: GrammatonJP
I know the people that makes 35k and live in the city.. they're the cheapest A$$ in the whole world.. showing up the bachelorette party with a $80 microwave oven split by 7 people. Giving 60 bucks at a wedding for 2 people.. (30/piece). Yeah you can live off 35k in the city.. ur also hated by all ur friends..
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😕

I won't even say how much I make then, lol
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sorry about that, I was referring to the 3 people I know..
 
Originally posted by: Black88GTA
So...you hate your "friends" who are less financially stable than yourself because they can't afford to spend a lot of money on gifts for you? :roll::roll::roll:

Real friends don't give a $hit about gifts you get (or don't get) for them. That's not what true friendship is about. Honestly, it's kind of sad that you think friendships are based solely on money.
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They're not my friends, they're my friend's so call best friend.

Shes having a baby and her 3 best friend wants her to shell out 1k for her own baby shower. Do you know who does what ? If you got married, would you have to shell out 1k for your own bachelor party ? no right ?

But the 3 "best friends" goes out and leases bmws (which I dont own) and gives 60 bucks at weddings, lives in decent 2k apartments, buys all these crap but treats people like crap
 
Originally posted by: notfred
Getting a $100,000 job with a master's degree in engineering or something and some experience shouldn't really be that hard.
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hopefully that maybe where im heading

looking for at least a 2-1 if not a 1st on my masters in mechanical engineering.

my dad knows a lucky fellow at work (works on a rig near qatar) and he went to uni and got some degree in engineering (instrumentation) and hes never earned less than £80k a year.

a company like BP will take on undergrad mech eng guys for 16k a year an if they like you will invite you back at the end of your degree to work with them, where they double that salary to 32k
 
i have a whole bunch of friends who graduated at 24 years old with a Pharm. D. degree...their starting salaries are upper 90s, low 100s
 
I am currently an intern at Morgan Stanley in the tri-state area, and I know just about everybody on my floor that is between 24-29 is making between 100-150k a year. and their still all stupid frat jock guys who dont try very hard, drive brand new BMW's caue they can, but still live at home with mom. Imagine what they could be making at such a young age if they actually put forth a bit of effort?

meanwhile i get paid $8/hr as an intern 🙁 :Cruel world:
 
Originally posted by: chickadee
I am currently an intern at Morgan Stanley in the tri-state area, and I know just about everybody on my floor that is between 24-29 is making between 100-150k a year. and their still all stupid frat jock guys who dont try very hard, drive brand new BMW's caue they can, but still live at home with mom. Imagine what they could be making at such a young age if they actually put forth a bit of effort?

meanwhile i get paid $8/hr as an intern 🙁 :Cruel world:
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Which floor and building are you on.. I know a bunch of people there...
 
My wife and I are 23 and have our roth Iras maxed out for a few years now.. bout 25k total(3k per year, then raised to 4k a year allowed) between the 2 of us... Btw, paying off your house is nice and all, but you could make much more for your money by simply investing that money.. plus, the interest on your mortgage is tax deductible anyway. My father could have bought his house outright, but instead, took out a mortgage because he could invest it at a much higher rate. Exceptions would be, I suppose, if you have an awful interest rate on your house.
 
Originally posted by: chickadee
I am currently an intern at Morgan Stanley in the tri-state area, and I know just about everybody on my floor that is between 24-29 is making between 100-150k a year. and their still all stupid frat jock guys who dont try very hard, drive brand new BMW's caue they can, but still live at home with mom. Imagine what they could be making at such a young age if they actually put forth a bit of effort?

meanwhile i get paid $8/hr as an intern 🙁 :Cruel world:
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dude i am in the wrong business!!!!
 
Originally posted by: Engineer
Originally posted by: Descartes
Originally posted by: Engineer
Originally posted by: Eli
I can't imagine what it would be like to make 8 grand a month gross.

:shocked:
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I can (and do)! :shocked:

😀

(Edit: but by no means did I make anything like that in my 20's. I'm 37 now)
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And from what I remember, you have a frugal spirit. I don't mean cheap mind you; rather, more value-driven. Great combination, imo.

:beer:
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Nah, I'm CHEAP! 😀

Remember, from November 2004 to December 2005, I spent a total of $18.xx on stuff that I didn't need (two sticks of ram). Well, I did pay off the house and car! 😀
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/bow x 100
 
Originally posted by: loki8481
if you live in Manhattan.

working in Manhattan =! living in Manhattan, though... just on the other side of the river, I pay $1,150/month living in a spacious 2 bedroom apartment with a decent view. I could easily commute into Manhattan from my apartment. I make ~$40K and don't face much financial hardship (I'm not buying a new car every year or anything, but I'm not living paycheck to paycheck either).

I could probably find a decent 1-bedroom in the $700-$900/month range if I had to.
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1150 a month is still a lot of money to be spending on rent. especially on ~40k salary. i know when i was making 40, there was no way in hell i could afford rent, but then again, my job required me to have a car so i was paying that off and insurance as well...
 
investment banking prolly....though he prolly be making more doing that....ill prolly make about that after i graduate next year. Im interning at Merrill Lynch this summer and they're paying me 1100 a week, i know friends interning at other banks making close to 2000 a week though(this is as an intern mind you) but anywho....yeah 100k is fairly common starting salary for finance majors graduating from my school
 
Originally posted by: otispunkmeyer
Originally posted by: notfred
Getting a $100,000 job with a master's degree in engineering or something and some experience shouldn't really be that hard.
Click to expand...


hopefully that maybe where im heading

looking for at least a 2-1 if not a 1st on my masters in mechanical engineering.

my dad knows a lucky fellow at work (works on a rig near qatar) and he went to uni and got some degree in engineering (instrumentation) and hes never earned less than £80k a year.

a company like BP will take on undergrad mech eng guys for 16k a year an if they like you will invite you back at the end of your degree to work with them, where they double that salary to 32k
Click to expand...

BP graduate engineers don't get £32k! Well it isn't listed on their website.

Koing
 
Originally posted by: Rudee
A friend of mine is an SAP consultant and at 25 years old he makes six-figures a year.
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I'd love to get back into SAP...unfortunately, it has been about 4 years since I even looked at it. 🙁
 
Originally posted by: archiloco
Originally posted by: chickadee
I am currently an intern at Morgan Stanley in the tri-state area, and I know just about everybody on my floor that is between 24-29 is making between 100-150k a year. and their still all stupid frat jock guys who dont try very hard, drive brand new BMW's caue they can, but still live at home with mom. Imagine what they could be making at such a young age if they actually put forth a bit of effort?

meanwhile i get paid $8/hr as an intern 🙁 :Cruel world:
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dude i am in the wrong business!!!!
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It isn't easy to get in to a big Banking/ Consultancy firm like those. They do work very hard for their £££. It may not seem like it but they'll crush in 50-70hr weeks EASILY when needed. No over time as that defeats the point of a salary.

Koing
 
Originally posted by: Rudee
A friend of mine is an SAP consultant and at 25 years old he makes six-figures a year.
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Yea SAP is big bucks. I have a buddy of mine who used to to consulting and now does ABAB programming and he got headhunted like what. He was getting like 20-30k signing bonus offers. Not sure what the salary along with that was but I'm sure it was pretty good.
 
Originally posted by: Descartes
I make more than twice that at 25.

</ego>

$100k is a nice income, but not as uncommon for 20-somethings as a lot of people might think. I work with probably two dozen 20-somethings that make more than that. Just have to have marketable ability and the ability to market it.
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You are most likely very skilled at what you do but from what I've seen... "consultants" are often marketing themselves as "do-it-alls" and get tons of money for it because they have that title. Is it really all that hard to be a consultant skill-wise ? I think they get a bad rap from other ITers and often-times, deservedly-so.
 
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