/biz/ - Business & Finance

>>57284172
Post your budget.

>>57284172
That's because $85k/year is jack shit

>What am i doing wrong?
Living in Biden's America.

>>57284172
It all depends where you live and how you spend your money. We need more information.

>>57284172
85k is the new 40k. What you understood as "85k" growing up is now 150k due to inflation, and this isn't an exaggeration or a joke.

If you aren't spending on anything but necessities / have zero emergencies, you may have about $1200 of disposable income a month to save / spend. $15,000 a year doesn't really get you of the hole.

>>57284712
There's some useless shit here like dining and health insurance. Also don't know how you're going through a tank a week of gas living in the ghetto, you aren't driving that much.

>>57284734
1. If you make 85k, you are probably driving to work every day. Through traffic. You also don't live THAT close to your job.

2. I am not removing insurance - anything minor will put you a year of savings behind.

3. Chipotle twice a week is too much as the ONLY "luxury" on the list?

It's pretty obvious that you are underage b&.

>>57284172
>What am i doing wrong?

Carrying any debt other than a reasonably sized mortgage and/or residing in a super high COL area.

>>57284712

It was also common growing up for young, single people in big cities to have roommates. It's only millennials and zoomies who are so socially awkward that they refuse to live with other people.

If you're living with a GF or roommates and your half of the rent is still $1500/mo, you must be in SF or one of a few other ungodly expensive cities.

Even then you're still not doing bad anon. $10k is a pretty significant amount you're putting into retirement especially considering your income so at least you should be set up pretty well for retirement. Hard to save up for downpayment for a house and other shit with only $4500/year to save, though. Could drive an older car, find a better job that pays more and/or where the employer covers the health insurance, cut eating out entirely, etc.

>>57284172

You're living above your means.

>>57284886
1. I am not OP.
2. $10,000 a year is not a "significant" amount. All the stupid 401k projections people do don't account for inflation.
3. Driving an older car leads to repairs - most people in these income brackets don't have the tools / garage to swap out calipers / shocks, let alone do a clutch job, which will cost as much as a used car.
4. "cut eating out entirely," - right, cut out Chipotle (or equivalents) twice a week.

You are basically giving Dave Ramsey advice outside of "get a roommate" - that could work for OP. Other than that, the answer is "make more money somehow".

>>57285040

Never claimed you were OP.

You're putting 15% of your salary toward retirement which is light years ahead of 90% of the population. As long as you have it invested aggressively, it should be able to grow 10%+ per year on average. Not sure how old you are now but that's $4.3 mil over 40 years, or $1.6 mil if you're in your mid-30s and only have 30 years to contribute. That's also assuming you never get any raises and you make only $65k for the rest of your working life, which obviously isn't ideal. Yes inflation is an issue, but it's not the boogeyman you make it out to be. Last couple years were an outlier, in a typical year US inflation rate is 2-3%. That means with 10% returns in the market you're getting 7-8% per year inflation adjusted growth on your retirement contributions. That's not bad at all and more than enough to build enough of a nice nest egg for retirement. If you had $1.6 mil at age 65 that also means you could start pulling approx $160k per year from retirement savings and put little/no dent in the principle if it grows 10% on average. At that point you're living off the growth alone.

Also I'd rethink your view on cars. I drive a 20 year old car and I've done very little work to it other than routine maintenance (changing oil and filters, brakes, tires, etc.). Only repairs I've done are replacing a fuel pump, front wheel bearings, replace some rubber vacuum hoses that literally rotted away from age, shit like that. I promise you that you're spending more a year in depreciation and interest on your new car than I am in maintenance and repairs on my shitbox. I will agree with you though that mechanics are a ripoff and it isn't very feasible for people living in multi family dwellings to do repairs themselves. I live in an apartment and just lug a service jack and other tools out into the parking lot and work on my car, but it's a pain in the ass.

>>57284712
I spend $74k/yr on a family of 4 in a high COLA. Your calculations are absurd. I have a daily commute and even so only run 600-800/yr on gas.

>>57284781
>I am not removing insurance - anything minor will put you a year of savings behind.
lol just don't pay medical debt what are you dumb

>>57284712
NEET detected. 401k is deducted before taxes are calculated.

>>57284712
20k on rent? And another 10k just for your vehicle? I live in a nice neighborhood in an expensive North American city, my rent is under 10k. No car needed.

>>57286702
There are Roth 401ks. What's really fucked is his health insurance. Dude needs to get HDHP if he's not going to the doctor a lot.

>>57284172
>be you
>start working
>earn 20k
>struggle to get enda to meet
>be you
>now earn 80k
>still struggle to get ends to meet
Your problem is that you're a retarded consumer, who probably spend 30$ On lunch and coffee everyday

>>57284712
>3000$ high class dining
You spent a normal persons monthly salary just on fine dining. You are completey retarded.
Also you pay a jew 20k a year to pay his mortgage and give him pocket change, instead of spending 20k a year on your own mortgage.

>>57284172
>What am i doing wrong?
Read this book - It's the Rd Pill for money.

>>57284172
>I make approx 85k a year which is a good salary apparently
Everybody loves a good humble bragger. Excellent personality trait.

>>57284172
Jews raised your taxes so you cant have children
Under Christian Kings, Emperors ans Czars the average tax rate was around 2%.

Everytime without fail when I see people complain about this its because they dot hings like spend 400-500 a month in groceries per person or other dumb shit like that.