Your yearly average income while pursuing F.I.R.E?

[RobbieB]

Never reached the FICA limit, not even close. You made a lotta dough baby!

[Major Tom]

I'm not sure that revealing our incomes would tell much of a story, without also relating whether we've had other sources of income, such as inheritances, and pensions, to name a couple. I had a modest inheritance, and a fairly significant boost to the portfolio from selling 3 rental properties which I had the good fortune to own for 2 years, in a sharply rising market.

Quote:

Originally Posted by RunningBum You first.

Agreed. To get something, you gotta give something. Well, maybe not around here but it's good form, in my opinion.

[aaronc879]

Quote:

Originally Posted by Major Tom I'm not sure that revealing our incomes would tell much of a story, without also relating whether we've had other sources of income, such as inheritances, and pensions, to name a couple.

No pension here. I have not gotten any inheritance and will not get more than low to mid 5-figures.

[RetiredHappy]

Between 2 of us, $750K while in megacorp. Started our own company in a different field, lost huge money for the first couple of years, broke even year 3 to 4, ended with about $450K in year 8 before we sold our company.

[aja8888]

For the last 20 years I worked, I ran my own business and earnings were all over the map, depending on business. But it was pretty good most of that time.

[scrabbler1]

My total wage earnings in my 23-year career, from mid-1985 through the end of 2008, were just over $1.1M. My average annual wages were just over $47k. My highest wage year was in 2000, my last year working full-time. I earned just under $78k. In 2001, I reduced my weekly hours worked so my pay got cut by nearly 1/2. In 2007, I did that again, reducing my pay another 21% (of the original FT pay).

But the value of the company stock I owned from 1997-2008 went from 5% of my annual pay in 1997 to nearly 10 times my annual pay in 2008, when I retired. Some of that was due to my declining pay, but most of it was due to the exploding value of the company stock.

[FIREd_2015]

Average - $75k (during FT working career, not incl. PT years)
Median - $64k (during FT working career, not incl. PT years)
Exceeded FICA limit - 15 times
Total lifetime wages to date ~ $1.8m (still have PT gig)

[MRG]

I've been pondering my SS estimate and this is helpful for me. I hit the FICA limit 20 of my 29 years at Megacorp.

[RobbieB]

Started in 1979 at 25 grand. Finished up 2014 at 85 grand. Pretty linear, with a few bumps.

[F.I.R.E User]

Quote:

Originally Posted by Franklin was just now looking at my income annually from MYSSA. Some years allot, some years not. How do u average that income and for how many years? Maybe hi or low would be interesting.

Add the total amount for each year divide by the years.

[F.I.R.E User]

Quote:

Originally Posted by CardsFan Over 40 years of working, it is difficult to look at yearly average income without adjusting for inflation. And I agree with a poll. Not too comfortable posting my personal numbers for all to see.

Inflation doesn’t matter. It’s the average of what you earned divided by the total years in the F.I.R.E journey. We are all anonymous here.

[F.I.R.E User]

Quote:

Originally Posted by ivinsfan If you made a million a year and spent 900K you'd still be working. This seems like a question without a point to it..

The point is to get average salary.

[F.I.R.E User]

Quote:

Originally Posted by CardsFan Yeah. The better question is are you an UAW, a AAW or a PAW. See The Millionaire Next Door for the references. I suspect most here are PAW's.

The calculator?

[F.I.R.E User]

Quote:

Originally Posted by Car-Guy I pursued FIRE for ~45 years.... Started out at under <10k yr, ended up at well over 25 times that amount per yr. I guess I could figure out each yr and avg it... But not sure I see the point. Probably made more the last 5 years than I did on the entire 40 before that.

What was the average?

Quote:

Originally Posted by skyking1 You're my BTD hero.

What’s that?

Quote:

Originally Posted by aaronc879 I topped out at $49K. Average is under $30K/yr and falling. Good thing I only spend half that much.

How many years to F.I.R.E?

Quote:

Originally Posted by Aerides honestly my last few years I couldn't even tell you. It really didn't matter, so much was getting socked away I only really knew the actual number at review/annual raise time. That's when my boss would print out the new numbers. But I was living like someone making less than half so it never really registered. And the last 5 years were very different from the 5 before that, and the five before those. OP, you might want to make a poll, but without a tight framing it's not going to tell you anything. And a person who retired in 2020 can't be compared side by side with a person who retired in 2010, or even 2015 really. (plus what state/country, COL, yada and more yada...)

Poll next time.

Quote:

Originally Posted by Ronstar Started in 1974, escalated up to 60 hr weeks through the late 80’s, 90’s and early 00’s, then retired in 2014 after a few years of 16 hour weeks. I was an hourly worker, so my income was erratic and dependent on hrs worked. Just a rough guess - I’d say my yearly wages averaged 60-70k for 40 years.

How many did it take you to F.I.R.E?

Quote:

Originally Posted by RobbieB Thanks! Yup, never got to 100 grand. Even when we were both working we never made a 100 grand. Close, but no cigar. Nah, we did the LBYM thing when we were working so we could retire. Then wifey died at age 60 so... I'm gonna try to have some fun with that dough before I go -

Sucks to have a loved one pass away.

Quote:

Originally Posted by RE2Boys yup! 29 years pursuing FIRE. Then achieved it but called myself semi-retired for the next 18 years. Those gigs topped out at about $10K, which wasn't bad for a three months of work each year. Now finally have on W2s

Lean F.I.R.E?

Quote:

Originally Posted by Time2 So many ways to look at this. Our average income over 36 years was $49,102. We started the journey in 1982, I made $14,400 and she made $6,200, that's $20,600. However $20,600 inflation adjusted is $54,147 in 2018. I used my SS statement numbers and inflated them using government inflation numbers, our average inflation adjusted income over 36 years was $71k. Our last 15 years we averaged close to $75k a year. Our nestegg is larger than our lifetime earnings. If you want to play, I put this google sheet together 3 years ago to find inflation adjusted income from your SS statement. Yours to play with, modify or fix, if you'd like. https://docs.google.com/spreadsheets...Xfs/edit#gid=0

Thanks. SS site is basic.

Quote:

Originally Posted by stepford I'll say this much: In my 28 year career I reached the FICA limit every year but my first (and missed that one because I started mid-year). That gives an indication relative to inflation without being too specific.

Nice.

Quote:

Originally Posted by Major Tom I'm not sure that revealing our incomes would tell much of a story, without also relating whether we've had other sources of income, such as inheritances, and pensions, to name a couple. I had a modest inheritance, and a fairly significant boost to the portfolio from selling 3 rental properties which I had the good fortune to own for 2 years, in a sharply rising market. Agreed. To get something, you gotta give something. Well, maybe not around here but it's good form, in my opinion.

You can get average from SS site.

Quote:

Originally Posted by RetiredHappy Between 2 of us, $750K while in megacorp. Started our own company in a different field, lost huge money for the first couple of years, broke even year 3 to 4, ended with about $450K in year 8 before we sold our company.

CEO?

Quote:

Originally Posted by aja8888 For the last 20 years I worked, I ran my own business and earnings were all over the map, depending on business. But it was pretty good most of that time.

Quote:

Originally Posted by scrabbler1 My total wage earnings in my 23-year career, from mid-1985 through the end of 2008, were just over $1.1M. My average annual wages were just over $47k. My highest wage year was in 2000, my last year working full-time. I earned just under $78k. In 2001, I reduced my weekly hours worked so my pay got cut by nearly 1/2. In 2007, I did that again, reducing my pay another 21% (of the original FT pay). But the value of the company stock I owned from 1997-2008 went from 5% of my annual pay in 1997 to nearly 10 times my annual pay in 2008, when I retired. Some of that was due to my declining pay, but most of it was due to the exploding value of the company stock.

Good stuff.

Quote:

Originally Posted by FIREd_2015 Average - $75k (during FT working career, not incl. PT years) Median - $64k (during FT working career, not incl. PT years) Exceeded FICA limit - 15 times Total lifetime wages to date ~ $1.8m (still have PT gig)

Cool.

Quote:

Originally Posted by MRG I've been pondering my SS estimate and this is helpful for me. I hit the FICA limit 20 of my 29 years at Megacorp.

Quote:

Originally Posted by RobbieB Started in 1979 at 25 grand. Finished up 2014 at 85 grand. Pretty linear, with a few bumps.

$25k a year in 1979 was really good salary.

[FlaGator]

more than I ever thought at 18

And, OP-what's the point?

[RetiredHappy]

@F.I.R.E User, not CEO. Just 2 senior managers in high tech Megacorp. Our CEO made 8 figures.

[targatom2019]

average about 89K for 25 working years(1995-2020) and retired at 50.

[F.I.R.E User]

Quote:

Originally Posted by FlaGator more than I ever thought at 18 And, OP-what's the point?

Just to see what everyone makes to get there.

[FlaGator]

Quote:

Originally Posted by F.I.R.E User Just to see what everyone makes to get there.

It's not what you make, it's what you spend, save, and pay in taxes. In my case >20% of income was saved/invested during my peak earnings.

I'm still not answering your question as you wish. Not sorry, you have to figure it out on your own. See the first sentence above for guidance.

[F.I.R.E User]

Quote:

Originally Posted by FlaGator It's not what you make, it's what you spend, save, and pay in taxes. In my case >20% of income was saved/invested during my peak earnings. I'm still not answering your question as you wish. Not sorry, you have to figure it out on your own. See the first sentence above for guidance.

I know but still wanted to see where I stood. You don’t have to answer.