Who here makes 6 figures? Vol. 2016 edition

[handullz]

Wealth comes from the Ratio of Assests to Liabilities.

Lotta cats make 6 mill a year but have 10 mill in bills, lol those people are poor.

Dudes need to get off of focusing purely on the salary.

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[luckyluchiano]

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being -4 mill in the whole is wealthy? Must be that new 2016 math.

 

[jjoaquin]

 

 

Yes - both before and after tax. Still not what it used to be (i.e. making 6 figures).
I'm a CPA and work at one of the largest of the four accounting firms. I do audit, not tax, and focus in the asset management industry.

Find outlets to stash your money and forget about it - be it a IRA, investing in general, saving for a home or property. Don't keep up with the Jones' because that bell curve won't work in your favor. It's ok to live at home to stack some cash, but have a plan.

Yes, I'm very happy. Actually enjoy the folsk I work with and my clients. This is the same type of job I've had since out of college, however, not the same firm or industry. I began more real estate focused and back in 2010 or so decided to turn my attention to a different industry (current) that aligned with my interests.

You're in SF right LazyJ? What school did you graduate from if you don't mind me asking. I'm in SF as well, in audit, but neither big4 or manager level, almost 4 years experience though. 

 

[lazyj10]

You're in SF right LazyJ? What school did you graduate from if you don't mind me asking. I'm in SF as well, in audit, but neither big4 or manager level, almost 4 years experience though. 

I'm all over the bay - reside in the east bay, go to both SF and Palo Alto based on my clients.

I'm a proud graduate of Chico State.

Lastly - to add more color and echo Illphilip's point. Not all my hours are spent pushin paper on desk. My 60+ hours may include attending client functions (fun), industry events (not as fun, but still not at an office) and overall business development/networking. The total is just what it takes based on the responsibilities at any given time.

 

[pums]

I'm a college student and I have no clue TBH on how to get there and to the level where my dad is at right now 54 years old working less than 40 hours a week earning from what I computed is conservatively estimated at $300 000 not including other investments strictly from jobs

 

[stuntman mike]

For facts, 100k job and stress I rather take the cozier job at 60k think that was actually a thread before. Ppl put too much focus on money and not their well being.

that's pretty much exactly me. i was making close to 100k. hours were super long. high stress. i was single and living pretty comfortably buying all kinds of clothes and doing whatever.
my salary got slashed after we lost some contracts. we restructured and my hours are much more flexible. got married and have a kid and now i have no money lol.
it's all good though. i'm much happier. my life doesn't feel as empty as it used to. since my hours are pretty chill, i do lots of things for our family while my wife is making more than i do now and is on the fast track to a 100k salary.

i also work less than 40/week.

 

[Xennial]

All "rich people" dont do the same thing for a living and many invest more so than actually do the "work" so its idiotic to think "if you arent working 50+ hrs you aint rich because thats what rich people do" like you seem to be implying.

Lot of the wealthy people I know spend their days on the golf course lol

 

[handullz]

being -4 mill in the whole is wealthy? Must be that new 2016 math.

So you wouldn't take 6mm ANNUALLY w/ 10mm of debt?

Living on 1/10th of that annual income, or 600k, you can get your debt to income ratio to less than 75% by the time the next NBA finals rolls around.

so...

again...

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[al audi]

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that .gif is ******* hilarious

aint seen it in a minute

 

[memphisboi55]

P4l

 

[Xennial]

You have to realize to even be able to rack up $10mil in debt means you had to have been getting a lot of money or else you guys can try to see if Lenders are willing to give you that kind of credit line. 

 

[luckyluchiano]

So you wouldn't take 6mm ANNUALLY w/ 10mm of debt?

Living on 1/10th of that annual income, or 600k, you can get your debt to income ratio to less than 75% by the time the next NBA finals rolls around.

so...

again...

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10 Million in Debt is not the same thing as 10 Million in annual Bills.

Re Read my post then use that gif on yourself.

 

[luckyluchiano]

You have to realize to even be able to rack up $10mil in debt means you had to have been getting a lot of money or else you guys can try to see if Lenders are willing to give you that kind of credit line. 

Bills and Debt are not the same.

 

[luckyluchiano]

Be Dumb brehs.
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[deleted]

I'm not taking 6 million dollars if it comes with 10 million dollars of debt

Maybe I'm hustling backwards

 

[handullz]

You are right. Bills =/= debt.

You can adjust your bills easily, though. You can literally sell all your assets, make zero gains, and still pay everything down over the course of a couple years.



You sound silly as **** calling someone poor that's able to generate millions of dollars a year.

But I'm not about to go back and forth.

That statement was outlandish.

 

[Based Jesus]

Making 6 mil and living beyond your means doesn't mean you're poor. It means you're living beyond your means 

 

[luckyluchiano]

You are right. Bills =/= debt.

You can adjust your bills easily, though. You can literally sell all your assets, make zero gains, and still pay everything down over the course of a couple years.



You sound silly as **** calling someone poor that's able to generate millions of dollars a year.

But I'm not about to go back and forth.

That statement was outlandish.

bruh shut the hell up and acknowledge you sound dumb.


lol NT.com where mofos dont know when to move on.

This clown giving us what if scenarios, lol clowns be overthinking stuff so damn much tryna look smart and end up looking dumber

Same cats on that "bu bu 90 hr work weeks aint bad brehs cause i make 150k"

 

[boywonder]

I'm a Business Marketing Manager. 

Make mid $90k with a 25% bonus.  So six figures after bonus.  

I've learned to control my spending unlike a lot of what people in here are saying.  No more spending on shoes.  Car is almost paid off.  The only true debt I have is just my mortgage and i'm trying to pay that off as fast as I can.  Useless debt is wack. 

 

[Peep Game]

If you graduate from college at 21, there is almost no way that you shouldn't be making 100k at age 30 if you stick it out with you career path and aren't a dummy.

For example, in auditing:

Staff: 55k (21-23)
Senior: 75k (23-26)
Manager: 95k (26-30)
Senior Manager: 145k (30)

This is not a realistic career path for many people.

Idk about it not being realistic, but it doesn't at all take into account the majority of the time those years are completely stretched, with people spending 5+ years at any one of those levels. Let's say you spend 7 years on the staff level...how old do you think you'll be by the time you sniff senior manager ?

Making 6 mil and living beyond your means doesn't mean you're poor. It means you're living beyond your means 

And it also means that person is stupid 6 mil income and 10 mil debt, you are solely working for the IRS instead of yourself

 

[luckyluchiano]

Idk about it not being realistic, but it doesn't at all take into account the majority of the time those years are completely stretched, with people spending 5+ years at any one of those levels. Let's say you spend 7 years on the staff level...how old do you think you'll be by the time you sniff senior manager ?

IDK what industry you in but avg Senior Role asks for 8-10yrs experience when it comes to IT. Avg person isn't being management roles until later 30s at a min. Being a Manager at 30 greatly depends on your company because with that logic everyone in the company with 10 yrs experience is a Senior Manager. Now how in the hell does that sound? lol

 

[al audi]

that's pretty much exactly me. i was making close to 100k. hours were super long. high stress. i was single and living pretty comfortably buying all kinds of clothes and doing whatever.
my salary got slashed after we lost some contracts. we restructured and my hours are much more flexible. got married and have a kid and now i have no money lol.
it's all good though. i'm much happier. my life doesn't feel as empty as it used to. since my hours are pretty chill, i do lots of things for our family while my wife is making more than i do now and is on the fast track to a 100k salary.

i also work less than 40/week.

im not even mad......

nice trade off imo

 

[youngthundercat]

Yes I do. I am very happy with my life and job, and it's my only job. I work in pharmaceutical r&d. I've found that networking and developing relationships is the most valuable thing you can do. If you do that we'll and excel at your job, the opportunities will come naturally.

I'm in pharmaceutical too(Merck) with the OT I do ok. The real money maker is in pharmaceutical device sale they make a killing.

 

[al audi]

I'm in pharmaceutical too(Merck) with the OT I do ok. The real money maker is is pharmaceutical device sale the make a killing.

my mom has a friend that does something like that......she travels a lot though

I'm trying to remember the title......pharma sales, device, equipment i don't remember she def makes 6 figures though

 

[cards93]

I'm in pharmaceutical too(Merck) with the OT I do ok. The real money maker is is pharmaceutical device sale the make a killing.

what do you do that you get OT? I've always been an exempt employee. You in West point, PA? I just left jnj recently to go back to a small biotech, loving it.