Quote:
Originally Posted by Myfirstbmwinsertcodehere
6k a month, in one year is 72k, so if my job left me 115k, that's a surplus annually of 43,000 for everything else. Which is pretty nice, if simply starting out.
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You are forgetting about $30K in taxes. A good rule of thumb for saving for retirement is 20% of gross (to maintain same standard of living). You need to pay back loans, which the minimum payments will be ~$1K a month.
$115K
-$30K for taxes
-$23K for savings (for both Roth IRA and 401K)
-$12K for loans
=$50K or roughly $4.2K a month.
That's not saving for a house, or for an emergency fund. You probably want to go on vacation once or twice a year. I know you're not leaning in this direction, but could you drop $800 a month on a 2016 M3 lease and still be "responsible"? Sure. You'll probably have to avoid eating out, drinking scotch on the regular, and getting a new iPhone every year (or whatever).
I'm not one of those dicks that loves to go around telling people to buy a 12 year old Corolla because that's the only responsible thing to do. I bought an M3 at 29, a year after having a kid, because it was important to me. Just make sure your numbers are tight, no matter what you do. Believe me, worrying about money fucking sucks.