TheRedArchive

~ archived since 2018 ~

7

hey guys,

this is more of an observational question. Almost every FR that i see that mentions money mentions the fact that alot of the solid MRPers are making 150-200k a year.

I know what alot of people might say is well, just make more money. I would like to know the magic formula for going from 70k to 150k.

anyway, just a question. How much do you guys make in a year? My wife and I combined make around 80K without any of the three bonuses I receive in a year. If its a good year I may get close to 90K, but in the current economic climate that's unlikely.

Also, just to note, I went from making less than 30K, while married, in 2012 to making 65K mid 2015, so I believe I have done quite well in increasing the money game.

Thoughts?


[–]onmyownpath 10 points11 points  (16 children) | Copy Link

Good job increasing your income so far. You get to the next level just like you got to this level. You increase your knowledge, skills, and connections.

One thing that cannot be stressed enough is the vital importance of income in your life. Your income is your most valuable asset. As you have seen going from 30k to 65k - more money means a lot more options.

Now, you probably have already made the mistake of increasing your lifestyle when your income went up. Big mistake. I am in the range you mention but I have kept my monthly required budget down to less than 5k per month. You know what that means? Freedom. I am fucking free.

I have 2 years worth of cash on hand. I could stop all income and maintain my comfortable lifestyle for 2 years. You need to be fighting for 6 months of cash on hand. Beat your monthly overhead down as low as possible. Drive less expensive cars. Drop the big TV package. Live in a place that is reasonable to your income level. Save until you have at least 6 months of cash.

Instead of wasting your time and money on bullshit that will never pay you back - invest your time and money into skills and relationships.

Look for people who have a need that you can help with. This is key. It truly is better to give than receive and the sooner you learn this the better. The wealthier people you can help, the more you will benefit.

It might feel good to give to the poor - but the good feeling is the only return you will see.

If you find people who are at higher levels than you and solve their problems - you will begin to profit from those relationships in ways that are completely unpredictable. I just recently had an opportunity fall from the sky that is completely unconnected to anything I was working on. I then reached out to my network and created an opportunity worth several hundred thousand dollars. It will total into the millions for the other people involved, and my cut is generous just for bringing the opportunity to the right people.

I could not have done this if I had spent the last 5 years spending my money on garbage, watching Game of Thrones, and punching the clock for 40 hours.

Fuck 40 hours. This is your fucking life man. There are 168 hours in a week. You spend around 56 of those in bed. That leaves 112 hours per week to do your thing. It is plenty of time. You need to be going to meetings, shaking hands, having coffee, asking sincere questions, figuring out what everyone you know is trying to do. Start helping them do it.

I'm not talking about helping them fix their car. I'm talking about connecting with people who are trying to build things and trying to help them get there.

This effort will eventually all pay off. There is no overnight success. Don't think of this in terms of time and years.

Instead - fucking make a choice. "For the rest of my life I will use my time and talents to increase the quality of people I associate with and to help them accomplish their goals."

There is a lot more that can be said. The higher you move up, you will begin to have more people coming around to associate with you. You can make connections for people at levels above and below you.

This shit is really hard work but it is also very easy. This is self-improvement. This is life improvement. Put in the time. Read the books. Take the courses. Go to the meetings. Look for opportunities to help others.

People at the bottom are always "take, take, take" - people at the top are always finding ways to solve problems for other people and profit in the process. "What are you going to pay me" is all the bottom people think about. My workers just punch the clock and I give them their check. They go home and waste their lives. As long as you think in terms of "pay me" you will always be treated as a tool in someone else's bag.

If you start thinking "let me help you get there" - you will become a valuable asset. Right now you make 65k because that is exactly what you are worth to someone.

It is a fundamental law of the universe - If you take more than you give, you will end up with nothing. If you give more than you take, you will end up with abundance. If you do less than you are paid for, you end up fired. If you always do more than you are paid for, you will always move up the ladder of value.

And I don't want to hear any fucking crybabies saying they don't know anyone or have any connections. 7 years ago I was flat broke. Busted. In a town where I didn't grow up. With zero connections. So fuck your excuses.

[–][deleted] 1 point2 points  (1 child) | Copy Link

This shit is really hard work but it is also very easy. This is self-improvement. This is life improvement. Put in the time. Read the books. Take the courses. Go to the meetings. Look for opportunities to help others.

idk if we've crossed paths on reddit before but I like your style and message.

[–]onmyownpath 1 point2 points  (0 children) | Copy Link

Don't think so but the feeling is mutual.

[–]sexyshoulderdevil75% Liquid Sarcasm 1 point2 points  (3 children) | Copy Link

Well put.

"Stop selling. Start helping."

~ Zig Ziglar, Salesman

[–][deleted] 0 points1 point  (2 children) | Copy Link

Gold plated advice right there. It's also very useful to get to know people who are useful to know. Knowing the right people can make all the difference sometimes.

[–][deleted] 0 points1 point  (1 child) | Copy Link

your MIL says:

Knowing the right people can make all the difference sometimes.

[–]more_load_comments -1 points0 points  (0 children) | Copy Link

Perfect post.

[–][deleted] 4 points5 points  (2 children) | Copy Link

one of the common threads among guys who wind up here is the previously held belief that if they succeed (financially, in the careers and so on) that women will love them...

silly but its a thing .

Rich as fuck...

I can tell you I was just as comfortable on 45k as I am on several times that. I am NOT much more comfortable now...

[–]prematureredpill[S] 0 points1 point  (1 child) | Copy Link

I agree, I was just wondering. I said below that sometimes it comes across that to be RP, you have to make XXX amount of money and OWN YOUR SHIT, which i know is not what is meant by most.

[–][deleted] 0 points1 point  (0 children) | Copy Link

OYS - is a mentality nothing to do with finances

[–][deleted] 9 points10 points  (13 children) | Copy Link

Wife & I make roughly 97k a year in New England

The $ amount matters less than the way it is handled. You could be making 300k and live paycheck to paycheck.

Spend wisely, save wisely, and accumulate experiences over things. My wife and I are happy as fuck w/ 2 kids and we make less than 6 figures.

As for getting from 70k to 150k there are several business gurus on here and they've posted about it before - research.

[–]PersaeusRed Beret 2 points3 points  (0 children) | Copy Link

^ This....live well below your means and whatever you make will be enough.

[–][deleted] 1 point2 points  (11 children) | Copy Link

The $ amount matters less than the way it is handled.

Here's the key. Add to that what kind of life you want to live. Lots of travel? Private school for the kids? Help around the house? College for the kids? Or, lots of free time?

I'm retired at 56 but I worked really hard for many years as an expert in a niche area. It was lucrative. My wife didn't work but she could have bought and sold me lol. She got her money the old fashioned way.....from her grandparents. That's the best way if you can swing it

[–][deleted] 0 points1 point  (10 children) | Copy Link

Lol, old fashioned way, like a blueblood

[–]bogeyd6Mod / Red Militia 0 points1 point  (1 child) | Copy Link

When I started this company all I had was myself, and 200 million dollars.

[–][deleted] 0 points1 point  (0 children) | Copy Link

And now you live in NJ and owe back taxes because no one same lives in Jersey

[–][deleted] -1 points0 points  (7 children) | Copy Link

Lol. Yeah the "bought and sold" is a quote from my MIL. Not a member of my fan club. Speaking of intemperance, she thought having four kids was a real indicator of mine. Cunt lol. I think Imma send her a card

[–][deleted] 0 points1 point  (1 child) | Copy Link

wouldn't it be an intemperance of hers?

Hmm, you don't sound sold....

edit : they have a card for that? if not I'm about to be rich.

[–][deleted] 0 points1 point  (0 children) | Copy Link

I knew you were of an entrepreneurial bent. Would be a winner.

[–][deleted] 0 points1 point  (4 children) | Copy Link

People are still racist against the Irish like that? So antiquated

[–][deleted] 0 points1 point  (0 children) | Copy Link

everything old is new again.

[–][deleted] 2 points3 points  (0 children) | Copy Link

Ha, I wish.

I make enough for me , my wife (SAHM) and kid to live in a white picket fence style house neighborhood ...kids riding on bikes, everyone keeps up their yards. With 2 cars and no car payments ,only a couple of hundred on average on a credit card if any.

What she makes from occasionally working goes to our vacation fund.

I make about 57% above MEDIAN household income (which would suck ass trying to live off of) for my city. But consider a lot of those households are single person households and it brings me back down closer to average.

While I have a retirement plan, some savings investments AND a 10 year paid into pension from my previous employer I STILL wonder how I will swing retiring...ever. What probably hamstrings me a bit is while I'm good with budgeting .. I firmly believe in a work / life balance so I make sure to enjoy things that might not seem like prudent purchases (top shelf whiskey or scotch, fine cigars once a week, tech gadgetry or lowes/home depot trips for project items).

Also, I believe my family should enjoy that as well (eating out at fine dining, my wife's yoga "lifestyle", activities for the kid that cost $$). Within reason...and so long as the ship's running smooth.

Again, not rich, but comfortable and appreciating it while it lasts. A big medical, house/car problem could really screw the pooch.

[–]cholomiteMod / BP Downvote Magnet 1 point2 points  (0 children) | Copy Link

I make 47k but take home much less after taxes. I probably won't get many raises and will be lucky to clear 100k by the time I retire in 30 years. My gf makes 13k a year. I'm looking for some side gigs to bring in some extra cash, but I'm not totally struggling right now. Not having any kids helps. I pay most of the big bills and try to save as much as I can and my girl buys the food and pays for date nights.

I learned pretty early on that I'll probably never be some 200k party playboy with a white Benz and sweet shades, but you don't have to be to be successful with women. I have a large family and many of my relatives are very successful. Some even clear 7 figures a year, but many of them still catch their wives fucking the kids coach, or the personal trainer...etc. Of course I also have an uncle who makes 700k, drives a nice car and constantly fucks around with teenagers behind his wife's back. She knows but doesn't want to give up the lifestyle and status of being the wife of such an influential guy in our town.

Money used to bum me out a lot, but I always think of the anecdote someone told me about who gets laid the most at Hawaiian resort towns. It's not the rich guys playing golf, it's the beach bums who work 20 hours a week at a hoagie shop and surf the rest of the time.

[–]SteelToeShitKickerRed Beret 1 point2 points  (9 children) | Copy Link

Ok, I'll bite. I was a software developer making about six figs. I quit to start my own business, now I'm making jack shit. Woohoo!

I'm planning on getting back into software...

[–]BluepillProfessorMod / Red Beret 0 points1 point  (8 children) | Copy Link

They have really stacked the deck against small business startups in this country.

[–]SteelToeShitKickerRed Beret 0 points1 point  (0 children) | Copy Link

Well, yes, but I also accept my fault in it. I had my own preconceived notions about what would work and what wouldn't. I persisted in believing them for too long. In the past 6 months that my T has been fixed (and the short time I have been participating here), shit has really been turning around.

If I were making what I'm makting now, somewhere between 30-40k and not doing much, I'd be pretty chill about the whole situation. Towards that, I'm reducing my involvement in the business. So far, that has been good. My employees have stepped up and filled the void. Also on the plus side, I have plenty of time to lift.

We'll see how it ends up, but I have some books coming in the mail so I can brush up on my programming skills.

[–]InChargeManRed Beret 0 points1 point  (6 children) | Copy Link

Who is "they"? I've witnessed no such stacking, in fact, I've found helping hands at every turn.

[–]BluepillProfessorMod / Red Beret 0 points1 point  (5 children) | Copy Link

Helping hands for small businesses? Are you joking? "They" are the government and the establishment.

Used to be not long ago that a man could quit his job at the factory and on his way home he could get another job paying comparable wages. That was before THEY moved our jobs overseas, and imposed the highest business taxes on American in the entire world (including Red China, Russia, and Saudi Arabia).

[–]InChargeManRed Beret 0 points1 point  (4 children) | Copy Link

I figured as much, a non-answer.

I respect your RP theory and contributions, but maybe you need to stay in your lane a bit.

I've walked the walk and find most claims of "the man" against small businesses to be a hamster trying to assign blame for failing at something or as a reason to not try.

[–]BluepillProfessorMod / Red Beret 0 points1 point  (3 children) | Copy Link

Look at the number of startups in this country. Look at the cost. Look at the corporate taxes. Look at Obamacare. Look at environmental regulations. None of that is hamster. All of it makes it harder to start a business in this country than almost anywhere in the world- unless you have millions of dollars to set up a corporate shell office with your workers paid 10 cents an hour in some 3rd world hellhole.

Men came from all over the world to start business in America. Now they don't. Now we have 90,000,000 unemployed people in this country- a 25% effective unemployment rate masked by social welfare programs, Obamaphones, and X-Boxes.

[–]InChargeManRed Beret 0 points1 point  (2 children) | Copy Link

I'm not interested in arguing, but it is slightly ironic that you have been able to recognize and deeply understand the difference between society's BP programming and reality regarding relationships, but are content to stand firm to the same BS that is repeated as a method of control in the business world.

I'm not saying America is the easiest to be successful, because I don't have experience in other countries to compare to. But, some points to consider:

  1. You mention corporate taxes for small business. Most small businesses are S-corp or LLC. These are both non-taxed entities. The owners of the company receive all profits passed through to them and it is taxed on the personal level, often as capital gains, which is lower than regular wage taxes. Again for clarity, there are 0 corporate taxes on most small businesses.

So, if your argument is that in general US income tax for citizens is too high, then that is definitely something to be debated, but outside of the specific discussion of corporate taxes.

  1. The world economy is always shifting. I'm sorry that you can't make a living working in a factory doing a simple repetitive task the way your granddaddy did. That is a past economy. The US is the leading large economy for per-capita GDP, so don't use the fact that dumb labor jobs have gone overseas to justify some perceived difficulty in starting a small businesses. We are plenty productive. If you aren't competitive in today's market, you need to look inward and work on yourself, not blame others. Remember, be the top 20%?

  2. We do have too many unemployed, which is a systemic problem with numerous factors that I'm not educated enough to fully understand, but ... so what? There are so many parallels to BP vs RP theory in your post I'm honestly astonished.

What if some guy came on and posted that all of his friends have trouble getting laid? They go up to women, act like a puss, and the women reject them. That has nothing to do with you. You run your race, play your game, and take charge of your life. If you tell me you have a bar full of Betas, I see a land of opportunity.

  1. I know you didn't just say Obamaphone. Seriously? The "obamaphone" programs have their roots in decades old legislation, which was significantly expanded in the Bush era. It is also not taxpayer funded, fyi. Do some research.

  2. Yes, X-boxes are the reason that it is difficult to start a small business in America.

The moral of the story, BE USEFUL and other's will pay you to be useful. Start a useful business, and you will be successful. Start a useless business, and you will not be successful.

[–]BluepillProfessorMod / Red Beret 0 points1 point  (1 child) | Copy Link

Is this a Hillary voter who thinks the economy is peachy? I am a Trumpeteer and think it has all gone to shit. Perhaps that is the disconnect?

The Obamaphone is merely a symptom and a foil for the slave mentality and government dependence, not the cause.

X-Boxes have decreased the willingness of teens to work. Teen unemployment is at record highs in this country. Yes, social media and video games have made the business environment less favorable. This one reason why the elites are bypassing the millennials and importing millions of people from hellholes from around the world rather than hire the entitled generation.

Your Pollyanna views that if you build it they will come are nice but I know many businesses that provided value and went bankrupt in the Bush and Obama economies.

At the same time, my Dad remembers a time when walking home from a factory after getting fired meant taking a couple extra hours on the way home so you could find a new job. His father remembers a time when you could offer your services for money right out of High School and, provided you were willing to work long hours, any man could support a family of 4. No more.

[–]InChargeManRed Beret 0 points1 point  (0 children) | Copy Link

This will be my last post, in-part because changing your views has no benefit for me and also to do you a favor, hoping that you don't make any more silly posts hurting your reputation.

X-boxes: Sure, it seems that younger generations are more lazy. It may be true, but also, they said that about your generation too. Either way, completely unrelated to the point at hand. We are discussing your assertion that "the man" is holding you back from starting a small business.

Luck: Sometimes people have bad luck, but in the world of averages, that is not the case. It is unfortunate when a person has a business that fails or becomes obsolete. That is survival of the fittest, not a conspiracy. You knowing "many" businesses that went bankrupt is in itself evidence that you are incorrect about the usefulness of the business, or there were other factors that made it a failure, like poor management, execution, location, etc. Blockbuster was a very successful business, but they didn't evolve, and ultimately failed. This was a failure of their management to see the digital revolution coming and pivot to become a part of the future instead of a footnote of the past.

Your Dad's reminiscing of the past: It could be true, I wasn't there. But, I can tell you that companies, including factories, don't leave positions unfilled just waiting for a random Joe who just got fired to come waltzing by. If other companies had persistent openings, it is an indications of there being a shortage of workers in that economy. So...What....? Quit whining and get to work.

As mentioned, the globalization of the economy has rendered menial manufacturing jobs obsolete. I'm sorry that you have to do more than graduate High School these days, but that is the reality. You (and your brethren) are so contradictory it is amazing. You don't want the government involved in our economy, but don't like it when companies reduce their costs by outsourcing. You think kids these days are lazy, but reminisce about the days when you only needed a HS diploma to get a well paying job. You blame others when something is hard but pat yourself on the back when it is easy.

Seriously, if you take BP beyond just relationship strategy into life strategy, you are squarely in the BP category. My advice is: Sidebar

[–][deleted] 1 point2 points  (2 children) | Copy Link

MMMpf. $150K is not "rich". That's what I earn annually. It's upper middle class. It's comfortable; it is not extravagant or luxurious.

[–]bangorlol 0 points1 point  (0 children) | Copy Link

Depends on the area, but I'm inclined to agree.

[–]more_load_comments 0 points1 point  (0 children) | Copy Link

Add kids, cars, mortgage and wife that does not understand the meaning of s budget and yeah, broke as fuck.

[–][deleted] 1 point2 points  (0 children) | Copy Link

31, making $50k a year here.

[–][deleted] 0 points1 point  (0 children) | Copy Link

Currently making about $60k, after years of high earnings peaking at $250k a few years ago. Simply walked away from that career (CPA) since I was tired of the 8 to whenever grind, the politics of working at a big corp and wanted to try a more family-friendly path. On my own now. No debt whatsoever. Happier? Yep. Still trying to firm up the exact way I want to take this. Each his own. RP works in any career or lifestyle I believe.

[–]BluepillProfessorMod / Red Beret 0 points1 point  (6 children) | Copy Link

I only make in the 50's recently starting out as a college professor but the benefits are good.

My wife makes 180K, however as a corporate lawyer in a silver slipper firm.

We started out 25 years ago as destitute students heavily in debt and neither of us even had jobs.

It really is not about the money. I think what you are seeing is that guys with money like to mention it while guys without don't mention it. Try counting all the posts that don't mention income and you have a better idea of the "typical" M-erp.

[–][deleted] 0 points1 point  (4 children) | Copy Link

180 Corp law? Kind of low?

Source - friends wife is corp law.

You should definitely beat her until she makes more

[–]BluepillProfessorMod / Red Beret 0 points1 point  (3 children) | Copy Link

That is not low at all. The average salary for an attorney in this country is only in the 70's and even that figure is skewed by the few senior partners who make millions.

I have told her many times she could make LESS so we could go on vacation and relax more.

[–][deleted] 0 points1 point  (2 children) | Copy Link

my friends wife is in the high three's , NYC, top...5?... firm... didn't do the whole partner track thing because she wanted babies...

He was making 45K as an attorney before he became a cop. 100+ now plus benefits. Now thats some hustle...

[–]BluepillProfessorMod / Red Beret 0 points1 point  (1 child) | Copy Link

When I was looking for an academic job I excluded New York City because it would have meant a separation and divorce. We just visited once for 2 days and she was so horrified by the pace of NYC she won't even visit. My wife working at a law firm in the Village? No thanks. There is not enough money to pay for that life. Well, maybe for a couple of years.....

[–][deleted] 1 point2 points  (0 children) | Copy Link

I told them to move out here ( middle of X state "near" NY)

buying power is so much more significant. They won't do it.

They just bought a 2000square foot home with no garage, almost no yard for a bit under 800k and thats a steal. 45k in reno to make it ok to live in....

yea no.

[–]SteelToeShitKickerRed Beret 0 points1 point  (0 children) | Copy Link

Agree with this. People who aren't proud of what they are making don't post it. It took a lot of fucking willpower to post mine.

[–]mrpCamper 0 points1 point  (0 children) | Copy Link

The type of person who participates well in this sub is the type of person who will do well in the work world. So, it's no surprise to me, that we tend to make more than average.

Advice is not to look for the short term high dollars but to look for the max in any field. Start at the bottom, or where ever you can get a foot hold, and climb towards that goal.

I make $180K before bonuses. Other than nicer vacations and a bigger house, I live like I did when I made $48K right out of college. Save first then live off of the rest.

I do not consider myself rich as fuck.

[–][deleted] 0 points1 point  (3 children) | Copy Link

You know- for context - if I was focused on it - I would probably think all MRP guys fix their own cars and can build a house from scratch. It's more about the fact that people notice what they think are differences

[–][deleted] 0 points1 point  (2 children) | Copy Link

I'm no good at drywall. I can plumb a bit, and wiring is OK. Just can't mud a wall

[–][deleted] 0 points1 point  (1 child) | Copy Link

eh, grew up in a city big city. folks were bookish. dad could do some carpentry. I can build you a cabinet, and I know wood quality, but I try not to fuck with shit I haven't done. My time is better spent elsewhere.

[–][deleted] 0 points1 point  (0 children) | Copy Link

folks were bookish

Just my type lol

[–][deleted] 0 points1 point  (0 children) | Copy Link

My brother and I make the same money. I went the uncreative path by going to school and getting into a lucrative job. He was creative, found a sales niche, and now own his own business. I've got tons of student debt, he has none.

He got where he is by developing relationships with people and gaining their trust. I stuck my nose in a book.

Years later, I'm happy where I am. I have an interesting job and it's very rewarding. But school isn't the only way to make a buck

[–]bornredd 0 points1 point  (0 children) | Copy Link

I'm not in 6 figures, but I'm close. My wife is within 10% of my income.

I also live in an extremely low CoL area, so it stretches very far. There are tech hubs out there with reasonable real estate markets. You don't have to go to Seattle or NYC or SF or any of that. Austin's not too bad, some parts of New England, Atlanta, etc. There are tons of huge companies in weird middle states too, Illinois, Nebraska, etc. They are always on the lookout for top talent (Insurance carriers, various corp HQs, etc) and have hard time due to not being East or West coast locations.

The secret to increasing your earnings is this:

Realize how you can offer value to someone that they will pay for, and then sell them that value. Work at a company that is doing a major intiative in X? Volunteer to learn X. Once you do, ask for a raise and a transfer. Don't get it? Find another company that is launching X initiative and offer your services there. "But bornredd, I don't know any other companies that are launching X intiative! How do I find them?"

Dedicate 2-3 nights a month to career networking. Invite coworkers, mentors, and others to lunches, coffees, whatever. Talk to them about work and what you'd like to do. If you don't tell anyone what you want to do, and ask questions about what they do, neither of you can help each other. And help them out when you can! I have two dozen people that ask me if I know people looking for certain roles all the time because I'm willing to refer. Not within my company but others. I always give them the disclaimer that I'll help them look, but I'm not fully vetting the candidates - that's on them. It pays off too, because when I need something, they help me out.

Negotiate your salary.

YOU ONLY GET WHAT YOU ASK FOR. Anything else is luck. So ask for your money. Increase it by reasonable increments, but always ask. So what if they say no? Make a good case for it - sell your accomplishments.

Also, if you don't have kids, your finances go far.

Edit: 6 years ago I was making 35k/year after an industry switch(and accompanying pay cut). Today I make well over double that and will be at triple in less than 2 years. It was the result of working hard, learning new skills, offering my services to my (at the time) current employer in a different role (they didn't know I was capable of managing teams), asking for way more money, doing that for 4 years (with 3 raises in that time), and then jumping ship to a vendor where I got a HUGE pay bump. From there, I made my goals clear to my new bosses, learned new skills (with accompanying raises), and asked for another promotion - got it, and another 20% pay bump. We're looking at a merger pending shortly, where I'm going to become the head of my own service line with a partnership likely to follow within a few years, all because I make my goals clear and ask for things.

[–][deleted] 0 points1 point  (1 child) | Copy Link

Quit 69k for navy, bumped to 80s. Spouse does a good 60.

I did have to sacrifice when I quit, when I bought my first home etc.

Some see the money now, no one sees ramen and walking only for the year it took to save a down payment, the 189 day sailing schedule with 14 hour days to buy a car, or the similar sacrifice to leave the navy to work in Toronto.

I will be doing more, but they are just numbers... I could easily go back to 30k and love in bc doing jack shit. I like getting a higher score though.

End of the day, have to achieve something. I'm kind of liking status stuff, will roll with it until I don't want to. Eventually I'll be able to consult on my own, then I make money off of others work, instead of my own.

Pension would have been good. The liver damage and bad knees? Not so much

[–]bornredd 0 points1 point  (0 children) | Copy Link

Some see the money now, no one sees ramen and walking only for the year it took to save a down payment, the 189 day smiling schedule with 14 hour days to buy a car, or the similar sacrifice to leave the navy to work in Toronto.

This. Nobody sees the scrimping and saving and throwing $1500+ a month at stupid credit card debt or student loans. Nobody sees that I've had my car paid off for 7 years and would love a new one, but that money is going into the emergency fund. Nobody sees the meal planning, the eating in every single night for 4-5 months, no babysitters (so no major couple outings) because babysitters run me $100+ a night.

Nobody sees the shit that makes the financial success happen. They only see that now I'm debt free and happy as can be. But nobody knows the 10 years of work that went into it.

[–]bangorlol 0 points1 point  (0 children) | Copy Link

I feel like this post may have been spurred by mine on the main sub. I'll elaborate on my situation:

I make $100k or so working as a Software Engineer for my business partners startup (we're partnered on another venture). My salary is actually low for the value I add to the company, but I'm in it for opportunity and equity. I earn another $50-60k from an application I developed that is doing well currently, and we're adding features and paid accounts to bring that waaaaaay up. The startup I work for grosses just over $500k monthly, and my application has the potential to reach that point based on historical projections within a few months. I intend on negotiating for more equity in the next month to secure an extra $15-20k per month as I'm worth it. It will inevitably go up around 1.5-2% per quarter until I own 10% of that $500k monthly chunk. With these things considered, I can effectively bring my annual salary at minimum to the $450k mark in a month, and at maximum something like $2m. Unreal but very attainable in my position.

My cost of living is insanely low. $900 for rent (not buying in this town - only here until wife graduates - she'll be making $70-80k with her doctorate in a medical profession), $60 internet, $425 health insurance, $300 groceries, and maybe another $400 for car + motorcycle insurance. So like $2k/month, plus $6k per semester for her schooling. I'm saving and investing the rest while im in this financial incubator of a middle-of-nowhere cheap cost of living town.

As far as advice goes... Just be valuable. I know how to code well, market, run security for our apps/sites, and have a lot of business experience. I didn't go to college and got my GED after dropout of highschool like 3 times. Taught myself everything in the beginning then learned from experience for everything else.

Ninja edit: maxed out retirement accounts within a month, too. Spending time building credit currently as I've always been a "cash only" person for everything.

[–]WhiteTrashKillerRed Beret 0 points1 point  (1 child) | Copy Link

Major metro area here. Average between 150-160k.

COL is a large part of the income equation. By the time your done factoring in taxes insurance mortgage etc its roughly 40k right off of that. Taxes fed and state at least 35k. Investments(fuck not saving for retirement). 529 plans(why save for retirement if your children will tap into it for college). Car insurance, ugh. If you live in a cold area heating your house is a fortune. Hell milk is $4 a gallon. Depending on the area 150k is middle class and we all know what happens to the middle class in the USA...

As for the jobs needed to attain the salary. Skilled trades pay very well, allow you to work with your hands, work with like minded men. Adopt the mindset that your time is worth something. You want me to work more than 40hrs a week you're gonna have to pay me. Then find a job that adheres to that ideaology..... Lots of men nowadays do not want to get dirty for a living, there is a vaccum out there, get into it and you'll be able to determine when and how much extra you want to earn.......

[–]WhiteTrashKillerRed Beret 1 point2 points  (0 children) | Copy Link

[Edit]

This is not including benefits which the Dickhead of DC has caused to go through the fucking roof for everyone. No such thing as a free lunch......

[–]bogeyd6Mod / Red Militia 0 points1 point  (1 child) | Copy Link

I make a pretty substantial salary with a great bonus package in my career. Very little debt. Choosing the right career and skills is instrumental in your path to monetary success. If you are a liberal arts major, times is gonna be tight. You did not list your career, but yeah most people here make good money because we are all 30+ years old.

You didnt list your career. I can tell you that carrying yourself well as a management candidate and constantly changing companies to get better salaries is a very good way to increase your salary. For example, if you work in a department where everyone is in their 40's and have been there for 15 years, there is no hope in that company for moving up or making better pay. If you are in a department with high turn over or managers aging out, that's where you work to get your bump to management. From there you can stick it out for 1-2 years and move onto a bigger company for more money and so on. The other method is to take your chosen career and go into sales for that skill. Sales people are truly feast and famine but it is possible to earn major money if you are selling an in demand product. This is the corporate path.

As far as starting your own business, I would say. Starting with money will mean success for you.

[–]more_load_comments 0 points1 point  (0 children) | Copy Link

+1 for sales, if you can sell and dream with the travel. For me it works and I get out of the house before my head explodes.

[–]alphabeta49Red Beret 0 points1 point  (0 children) | Copy Link

I'm at $33k/yr, single income, living in California. Its not a pretty situation, but ya know what? I've led the fuck out of it, and my wife is on board. In fact, she just sent a text out of the blue about half an hour ago stating bluntly how thankful she is that I work a job I don't like, and that she is on board with whatever we need to do to be successful.

I have plans that I am actively working on to make lots of money. I want to retire early, a la Mr. Money Mustache. Its a pipe dream right now, but I'm taking baby steps. I'll be going back to school in the next year. Hopefully making around $80k by the time I start my second career.

This thread is helpful for me right now.

[–][deleted] 0 points1 point  (0 children) | Copy Link

Yes bro. I light fires with fifties

[–]YoureAfuckingRobot 0 points1 point  (3 children) | Copy Link

Is it possible that there's a correlation between a successful relationship in general and making good money for a normal person? Most people commenting are taking about success to help others so it may make sense that most people helping others are from a higher income bracket and that helps them be successful I their relationships since the stress of money is removed?

[–]BluepillProfessorMod / Red Beret 0 points1 point  (1 child) | Copy Link

is it possible that there's a correlation between a successful relationship in general and making good money for a normal person?

It is possible but it doesn't answer OP's question unless you assume men who come to MRP are in a "successful relationship."

[–]YoureAfuckingRobot 0 points1 point  (0 children) | Copy Link

Well I'm just talking about the RPers offering advice who typically are in a successful relationship, hence why they are offering advice and correlating that to the fact that a lot of the replies in this thread confirm most make good money.

I can confirm that people with money seem happy, but that is all I guess.

[–][deleted] 0 points1 point  (0 children) | Copy Link

stress of money is removed

false assumption

the stress of providing ends via means is never removed.

You can kill a man, but you can't kill an idea.

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