Although making $500,000 a year may sound like a Herculean task, you’ll be surprised to know there are plenty of regular folks who hit the half million mark every year. I literally get e-mails and comments from similar income-earning couples every week asking for financial help. This article will discuss why many folks who earn a large income won’t be retiring any time soon.
I’m surprised this story came across my news feed so often considering I rarely read blogs handing out financial advice. Most of the blogs & comments on the post above) are sharing zero sympathy with how difficult it is to save making half a million a year. I disagree. I don’t see anything here out of the ordinary. I make significantly less and once everything is done, I have enough money left to travel and afford my hobbies but if I had 2 kids, those hobbies and vacations would be gone and I’d probably put less toward retirement as well.
The math adds up and remember, this couple lives in New York City and they own their own home with 2 kids. Most people would have moved to the suburbs already. I enjoyed the closing advice from the author:
Not a day goes by where I’m not thankful for working brutal hours in my 20s and early 30s. Being free is absolutely priceless the older you get because you no longer are willing to put up with the world’s bullshit. After I left Corporate America in 2012 at the age of 34, all my chronic pain (TMJ, lower back pain, sciatica, tennis elbow, golfer’s elbow, etc) went away. The time for working on a side-hustle before or after work is now. You never know what might become of it.
That’s what I did when I left SF….but I had no money :P