Hey all!
I'm 29 years old and have been working full time for almost 1.5 years. I've fumbled around a bit with getting all my financial stuff worked out, but now think I have a clearer path. I graduated with a STEM PhD (hence the late start) and gross $93,000/yr in product R&D in the private sector in a good COL area. I don't expect this to go up much in the next few years (a guy with 13 years experience in my group makes around $110k/yr), unless I start moving up into management (ughh) or go to silicon valley (BARF). A horizontal move might get me a 6-8% raise.
My goal is to reach $1.2 million in today's dollars and then switch to being an adjunct college instructor. With my calculation (assuming no salary growth and 4% real growth) I should get there in 14-15 years. I'd also consider doing a year or two of English teaching abroad. STEM PhD adjuncts at the university I attended were paid $10k/course, so grossing $30-40k/yr is what I'd expect for 15-20 hours/week + summers off. Another idea I have is to very slowly get into landlording over time (maybe starting with a duplex in the next few years?) for future cash flow - this would require A LOT more research however.
I max out my 401k, HSA, Roth IRA, and try to put $20-30k/yr into my brokerage account each year. Employer match is about $5k/yr on the $18k/yr I put in. I think I'm on the right path, but it's a bit demoralizing to see people making $300k/yr at my age and very comfortably retiring in their mid or late 30s.
Some other things: My only asset is a car worth about $13,500 (fully paid for) and I am not married.
Any advice and criticisms would be much appreciated. Thanks!!
Investments + Cash: $84,000
Major Expenses: $1,500/month
I'm 29 years old and have been working full time for almost 1.5 years. I've fumbled around a bit with getting all my financial stuff worked out, but now think I have a clearer path. I graduated with a STEM PhD (hence the late start) and gross $93,000/yr in product R&D in the private sector in a good COL area. I don't expect this to go up much in the next few years (a guy with 13 years experience in my group makes around $110k/yr), unless I start moving up into management (ughh) or go to silicon valley (BARF). A horizontal move might get me a 6-8% raise.
My goal is to reach $1.2 million in today's dollars and then switch to being an adjunct college instructor. With my calculation (assuming no salary growth and 4% real growth) I should get there in 14-15 years. I'd also consider doing a year or two of English teaching abroad. STEM PhD adjuncts at the university I attended were paid $10k/course, so grossing $30-40k/yr is what I'd expect for 15-20 hours/week + summers off. Another idea I have is to very slowly get into landlording over time (maybe starting with a duplex in the next few years?) for future cash flow - this would require A LOT more research however.
I max out my 401k, HSA, Roth IRA, and try to put $20-30k/yr into my brokerage account each year. Employer match is about $5k/yr on the $18k/yr I put in. I think I'm on the right path, but it's a bit demoralizing to see people making $300k/yr at my age and very comfortably retiring in their mid or late 30s.
Some other things: My only asset is a car worth about $13,500 (fully paid for) and I am not married.
Any advice and criticisms would be much appreciated. Thanks!!
Investments + Cash: $84,000
Savings : $7,000
$2,000 in HSA Money Market + $5,000 in Checking Account
401k : $27,000
100% AALTX - American Funds Target Date 2050 (ER 0.76%)
Roth IRA : $16,600
ROTH IRA: TRRMX - 100% T Rowe Price 2050 Fund (ER 0.75%)
HSA Investments : $5,200
30% PAMCX - T Rowe Mid Cap Growth (ER 1.03%)
35% TAMVX - T Rowe Mid Cap Value (ER 1.04%)
25% PRNHX - T Rowe New Horizons (ER 0.79%)
10% PTTDX - PIMCO Total Return (ER 0.75%)
Brokerage : $28,000
65% VTSAX - Vanguard Total Stock Market (ER 0.05%)
35% VTIAX - Vanguard Total Int'l Market (ER 0.12%)
Major Expenses: $1,500/month
Rent: $800/month
Auto Insurance: $55/month
- Health Insurance: $250/month
Food and Fun: $400-500/month
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