Current Events > Seriously. How much money do you have, and how do you feel about that? How old?

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-l___________l- posted...

What are your jobs? Seems like a really high income

I'm an operations engineer for an electrical power plant. I don't actually do any physical work; just develop procedures and such for field engineers and technicians to follow and do. I have had numerous calls overnight because of some urgent issues, and have also had to sleep in the office... people want power 24/7, ya'know.

My wife works for the same plant; she is an analyst on its power systems. She is your standard 40-hours-a-week employee lol. With OT pay (which is paid at a rate of 2 to 1; i.e., for every 2 hours of work, I get paid for 1 hour), I make more than her; but straight salary, she gets more since she has a masters and is pursuing her doctorate.

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g980 posted...

Enough to cover the mortgage for a few years without touching retirement funds if both my wife and i lost our jobs

30 y/o and i feel pretty good about this. Will feel great once mortgage is paid off.
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1200 in checking
~9k in savings
20k in emergency fund
~5k in physical metals (and maybe ~60-70k in other physical "investment" assets)
~600k in various retirement accounts
~260k in stocks and bonds

Im 34. started saving when i was 14. feeling OK.

g980 posted...

30 y/o and i feel pretty good about this. Will feel great once mortgage is paid off.

Same. Its such a liberating feeling to not really have to worry about finances

i wish that everyone could experience it

both my wife and I were encouraged by our respective parents to buy houses in our early 20s with our savings (and with the great first time home-buyer credits of the Obama era) and it proved to be a great investment, I was able to refinance my home to pay off my student loans a few years back then I sold the house at a 40% profit

my wife did the same and when we moved in together we were able to be very financially secure with our combined savings

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TheGoldenEel posted...

Same. Its such a liberating feeling to not really have to worry about finances

i wish that everyone could experience it

both my wife and I were encouraged by our respective parents to buy houses in our early 20s with our savings (and with the great first time home-buyer credits of the Obama era) and it proved to be a great investment, I was able to refinance my home to pay off my student loans a few years back then I sold the house at a 40% profit

my wife did the same and when we moved in together we were able to be very financially secure with our combined savings

Yeah I'm in pretty much the same boat. We also recently got to the point where we can afford to live off of a single income from either my wife or myself. So that if either one of us loses our job, it's not that big of a deal. Great feeling.

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I'm 30 right now. I kinda wish I had gotten a house earlier on when I started working, but I really just wasn't interested in home ownership.

Unless I got roommates, any house I would have bought would have caused me to be paying much more in mortgage + taxes, than I was in rent.
So I pretty much piled that saved money my 401k and IRA instead.
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30, 70K USD in the bank.

Should probably do something with it. Still live at home so no rent, mortgage etc.

38

worth over 7 figures, all things considered (cash + misc investments + 401k / Roth IRA + house; no debt)

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EndOfDiscOne posted...

Yeah I'm in pretty much the same boat. We also recently got to the point where we can afford to live off of a single income from either my wife or myself. So that if either one of us loses our job, it's not that big of a deal. Great feeling.

I think a huge factor is having a partner with a decent income and similar financial priorities
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g980 posted...

EndOfDiscOne posted...

Yeah I'm in pretty much the same boat. We also recently got to the point where we can afford to live off of a single income from either my wife or myself. So that if either one of us loses our job, it's not that big of a deal. Great feeling.

I think a huge factor is having a partner with a decent income and similar financial priorities

Yep. Entering a marriage situation where you both have no debt and both make good income is like easy street to success
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$300 on me now.

$300 in spending account.

$2500 in savings account.

There was never no need for me to have a 100 million in the bank.

I mean if a person needs a 100 million to survive then they need to get organized.

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