Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
What do you do for a living?
Old 11-24-2014, 12:11 AM   #1
Dryer sheet aficionado
 
Join Date: Jul 2014
Location: West Wendover
Posts: 48
What do you do for a living?

We all dream of retiring early here on this site. I'm curious, what do you do for a living? What kind of money do you make? And finally, what percentage of your wages are being invested to retire "early"?


Sent from my iPad using Early Retirement Forum
__________________

__________________
Brianeboatman is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-24-2014, 06:42 AM   #2
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: On the road again
Posts: 21,520
I'm retired. All the money I make is "unearned".
__________________

__________________
MichaelB is offline   Reply With Quote
Old 11-24-2014, 06:58 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 9,777
Quote:
Originally Posted by MichaelB View Post
I'm retired. All the money I make is "unearned".
+1
__________________
Meadbh is offline   Reply With Quote
Old 11-24-2014, 07:14 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 8,662
Retired.
__________________
Yes, I have achieved work / life balance.
travelover is online now   Reply With Quote
Old 11-24-2014, 07:21 AM   #5
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,768
Old-age pensioner.
__________________
WhoDaresWins is offline   Reply With Quote
Old 11-24-2014, 07:21 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Houston
Posts: 1,407
I kick ass and chew bubblegum. And I'm all outta gum...
__________________
soupcxan is online now   Reply With Quote
Old 11-24-2014, 07:27 AM   #7
Moderator
Ronstar's Avatar
 
Join Date: Aug 2007
Location: Somewhere between Chicago and Phoenix
Posts: 7,427
1. Retired, except for the 10 hours of consulting I've done since April
2. The kind of money I make is also "unearned"
3. N/A - I'm not investing any $ to retire early, since I retired late - but the pct varied from 10 to 40 while working.
__________________
"And in the end, it's not the years in your life that count. It's the life in your years" - Abraham Lincoln
Ronstar is online now   Reply With Quote
Old 11-24-2014, 07:33 AM   #8
Recycles dryer sheets
Kaufmanrider's Avatar
 
Join Date: Jun 2013
Location: Forney
Posts: 120
Quote:
Originally Posted by Brianeboatman View Post
We all dream of retiring early here on this site. I'm curious, what do you do for a living? What kind of money do you make? And finally, what percentage of your wages are being invested to retire "early"?


Sent from my iPad using Early Retirement Forum
Retired, Jan this year at 49. When I was working, I was a Fed. How much I made? Enough for a comfortable life for myself and my family. Not rich, not poor.

I have a pension which allowed my to retire early. I did invest between 5-15% of pay into a 401K (TSP) which provides icing on the cake.

Invested lower amount when I started, higher amount when I retired.
__________________
Kaufmanrider is offline   Reply With Quote
Old 11-24-2014, 07:41 AM   #9
Thinks s/he gets paid by the post
Senator's Avatar
 
Join Date: Feb 2014
Location: Eagan, MN
Posts: 2,323
I am a data architect at a major US financial institution as my FT job.

I also have 24 rentals, a small mowing/snow plowing company, work as a property manager for the HOA, and manage another property for another investor.

I spend less than $30K a year. I have saved 100% of my take home net pay from my FT job, maxed out my 401K and HSA, plus saved another $7K a month. And I actually lived a bit.

Next year, 2015 saving projections are to save over $11K a month, plus my 401K and HSA, as I had some one-time expenses that are not going to happen in 2015. I paid off two mortgages and will not be giving/loaning my sister $29K.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
Senator is online now   Reply With Quote
Old 11-24-2014, 08:04 AM   #10
Dryer sheet aficionado
 
Join Date: Jul 2014
Location: West Wendover
Posts: 48
Many of you are ,ready retired. If that's the case, what DID YOU DO for a living? How much money DID YOU MAKE AND WHAT % DID YOU SAVE? I put this in the "Dreamers" section thinking that it would be young pre-retirees like me. You retirees love rubbing it in that you're already retired...and I don't blame you! I can't wait to join the ranks in 2024.


Sent from my iPad using Early Retirement Forum
__________________
Brianeboatman is offline   Reply With Quote
Old 11-24-2014, 08:08 AM   #11
Thinks s/he gets paid by the post
 
Join Date: May 2014
Posts: 1,969
Quote:
Originally Posted by MichaelB View Post
I'm retired. All the money I make is "unearned".
I really hate that term! I prefer "non-wage income".

I worked as an actuary till I retired last May at age 61. I was making about $200K/year in a LCOL area so was able to save a lot since moving here in 2003 (I'd saved continuously since I started working but having a mortgage that was a smaller % of my income really helped).
__________________
athena53 is offline   Reply With Quote
Old 11-24-2014, 08:17 AM   #12
Thinks s/he gets paid by the post
target2019's Avatar
 
Join Date: Dec 2008
Posts: 3,087
I still work. Sometimes. LOL.
Sometimes I make a lot, and sometimes I don't.

If you find a graph that measures income, wealth, or whatever, we are probably at the bottom of the top quintile last year and this year.

We have saved about 1/3 of our income over the past decade, I am guessing. New savings tailed off this year significantly due to job loss.
__________________
target2019 is offline   Reply With Quote
Old 11-24-2014, 08:37 AM   #13
Thinks s/he gets paid by the post
 
Join Date: May 2014
Location: Utrecht
Posts: 1,600
Phd researcher, 4 years

Then management consultant, 5 years

Then dual role as in-house strategy advisor & cost cutter, 1 year

Then entrepreneur & procurement consultant, 2.5 years

Now semi-FIRE, might go for another thing to do that makes money, or not. ?? years.
__________________
Totoro is offline   Reply With Quote
Old 11-24-2014, 08:45 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,732
I take drugs for a living. I take experimental drugs in clinical trials(aka lab rat). I make about $20K/yr and have a lot of time off. I spend less than that so it works out well for me. I worked in a factory for 11 years topping out at about $49K/yr. I saved nearly 50% of my income to amass a low six-figure net worth including a paid off home at age 31. Now(age 35) with my body broken by 12 hour shifts of manual labor, I let my savings build while I "work" part time just enough to cover my expenses. My hope is to stay healthy enough to be able to do this enough to cover all of my expenses at least until age 55 which is the cut off for about 75% of the studies then do whatever studies I can get and cover the rest of my expenses from my savings which should be much higher by then. Not the best road to FIRE but it's my best option and I think it'll be fine.
__________________
aaronc879 is online now   Reply With Quote
Old 11-24-2014, 08:57 AM   #15
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,190
While not an actuary, I worked in the actuarial field for 23 years (1985-2008) before retiring in 2008 at age 45. I worked full-time for the first 16 years (1985-2001) then 7 more years part-time (2001-2008). Although my hourly pay continued to rise after I switched to PT in 2001, my actual annual wages only approached $80k but never actually hit that mark.

As for % of income saved, it was erratic when I was in my 20s because I paid off my student loans, bought a car, and bought my co-op apartment (and refinanced its mortgage). In the years I wasn't doing any of those things, it was about 30%.

In my 30s, my only big expense was paying off the mortgage in 1998 when I turned 35 - and even while I was doing that my % saved was never lower than 12%. Before I paid it off, my % saved was about 35%. After I paid it off, my % saved shot up to about 55% even when my part-time working years had begun.

In my 40s (until I turned 45), my % saved remained in the low 50s (except the year I bought a new car, it fell to 18%) even though I was working part-time the whole time.

Even in retirement, I still calculate a % saved as a function of investment earnings which are about the same as my wages in my part-time working years. It remains at about 50%.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 11-24-2014, 09:29 AM   #16
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 2,214
I was an accountant age 23-28, then a stay at home Mom until age 51 when I started working PT as a school crossing guard to get my last 7 Social Security credits and add to the 2 sons college expenses. I'm still doing it because I enjoy it and I put most or all of into a ROTH IRA. I make about $4,200/yr. I also usher at a summer concert venue and make $450-$600 over the summer concert season. So I save 80-100% of my income.

DH was a social worker (children's services) for the county and then worked in social service administration (mental retardation/developmental disabilities) for the same county for almost 27 years. At the end he was making about $69,000. He didn't pay into Social Security, instead he contributed 10% to the pension plan. We use to be able to save $1000/mo when he was still working. He lost his job in 2010 at age 55 and early retired with a reduced pension.

We save about $300/mo of the pension plus my income.
__________________
Married, both 61. DH retired June, 2010. I have a pleasant little part time job.
Sue J is online now   Reply With Quote
Old 11-24-2014, 09:34 AM   #17
Recycles dryer sheets
 
Join Date: Oct 2013
Posts: 281
I worked in upper middle management, insurance industry. DH worked in senior management (executive ranks) also in insurance industry.

Key to our ER was establishing a standard of living way back when, and staying there. That meant our savings rate percentage grew every single year. We started at 10% as young marrieds, and were saving well over 75% of our combined net salaries for the five or so years prior to reaching FIRE in 2011. There was certainly some lifestyle creepage as our salaries increased, but very modest in the grand scheme of things.

We also banked 90% of our combined annual bonuses from day one, giving ourselves permission to 'blow' the other 10% (net, not gross), usually on travel.
__________________
RetiredAndFree is offline   Reply With Quote
Old 11-24-2014, 09:41 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 15,917
DW did a bunch of stuff, but did career counseling at high end universities for 4 or 5 years and then quit in 2003 to open a part time private practice and have kids. I have done lots of things: Corporate intelligence analyst, conference director, corporate librarian/data monkey, rating agency analyst, high yield/distressed debt analyst, and regulator. I quit in January of 2014 at age 41, spent 8 months recovering and enjoying life, and then fell into a gig [mod edit] (not really, but it sounds far more interesting than my excruciatingly dull contract job doing some work for a megabank).

Can't help you with savings percentage. From about age 25 or 26 I always maxed my 401k. 100% of DW's business earnings have gone into a solo 401k (although some years that was a few grand). For a long time we had a 15 year mortgage and then paid an extra $1k/month on it (wish I had not done that, in retrospect). When I got a bonus, we usually saved the vast majority of it.
__________________
"Neither my companion or I carry firearms on our persons. We depend on the goodwill of our fellow man and the forbearance of reptiles."


- English Bob
brewer12345 is offline   Reply With Quote
Old 11-24-2014, 09:50 AM   #19
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: On the road again
Posts: 21,520
Quote:
Originally Posted by Brianeboatman View Post
Many of you are ,ready retired. If that's the case, what DID YOU DO for a living? How much money DID YOU MAKE AND WHAT % DID YOU SAVE? I put this in the "Dreamers" section thinking that it would be young pre-retirees like me. You retirees love rubbing it in that you're already retired...and I don't blame you! I can't wait to join the ranks in 2024.
No need to yell, we can hear you just fine

Like many here, I did lots of different jobs. At megacorp over 25 years I had 18 different positions, so I guess you could say I did whatever they told me to. Most years I was underpaid, a few years seriously overpaid, enough to offset all those other years and still retire early.

Before that, as a yute, during high school and college I had more than a dozen different jobs, just counting those I worked at more than a year or made $1K in a year. First (age 9, for 5 or 6 years) was paper boy. Mostly tips, but I saved it all. At college I made $2.10 per hour all 4 years, mostly in the kitchen and as a TA, but I made good money during the summers as a fork life operator and then as a machine operator in a foundry.
__________________
MichaelB is offline   Reply With Quote
Old 11-24-2014, 09:59 AM   #20
Thinks s/he gets paid by the post
steelyman's Avatar
 
Join Date: Feb 2011
Location: Triangle
Posts: 3,217
Quote:
Originally Posted by MichaelB View Post
No need to yell, we can hear you just fine

That's right. I worked at a university. I'm not going to tell you what I earned, that's my business.
__________________

__________________

steelyman is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What Would You Miss About Not Living In the US If You Were An Ex-Pat? tangomonster Life after FIRE 140 11-14-2013 08:43 AM
How many of you can RE now, but are saving to raise your std of living? Surfdaddy FIRE and Money 60 04-17-2006 11:37 AM
Do you get "paid" to live in high cost of living areas? wildcat Young Dreamers 31 02-19-2006 04:50 PM
standard on living or living with basic in US Enuff2Eat FIRE and Money 14 12-30-2005 11:35 AM

 

 
All times are GMT -6. The time now is 08:50 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.