5 ms·

i feel the same way except i'm an American living in the midwest. I make $70k in the midwest and save $3k/month. That's $3k after taxes, insurance benefits, re

• softawre 9y ago
  You're saving more than 50% of your pre-tax money? That is impressive and unusual. I guess from that savings rate and the fact you only make 70k that you are fairly young with no kids? How much do you pay for rent/mortgage?
  • clw8 9y ago
    Not OP but in the Midwest big companies like John Deere start their engineers in the $60k range (at least when I interned there). The cost of living is just that much cheaper. My studio apartment while in college in Iowa City was $500 a month for a location just a five minute walk from the campus.
  • kudokatz 9y ago
    > You're saving more than 50% of your pre-tax money? That is impressive and unusual. Many in the Financial Independence community are upwards of 70%. Having a partner with the same goal can keep that savings rate as high even with kids. Otherwise it's not very likely.
  • whosair 9y ago
    I don't understand... I live in NYC on a $130k income and am having trouble figuring out ways to spend more than 50% of pre-tax. What exactly are people spending on? I'd think it'd be really easy for people in tech companies to save upwards of 70% with high salaries and the performance of tech stocks.
    • jjkk0101 9y ago
      Ex-New Yorker here, I've seen my single co-workers spend all their money with expensive rents, gadgets, social life and traveling.
• austenallred 9y ago
  3k/month on rent