Savings/Spending now VS income at first "real" job.

[TheHaitian]

Using this statement by Swamp:

[quote author="swamp" source="/post/2717850/thread" timestamp="1501850005"

ETA:  As far as saving, I am saving more per year than what I made at my first "real" job as an Asst. DA.    

[/quote]

What are some of your expenses / savings compared to your first "real" job?

As a posted in another thread, our current mortgage is more than I made a year at my first "real" job.

[NoNamePerson]

My first real job was in 1964 and I made $450 a month at GM&O RR!!  But I was married at the time and EX made $450 a month also. We were RICH!! At the time we were DINKs.

As for comparing now. I don't owe diddly. I guess I could say I spend more than that on food, cable, internet, phones, car insurance, utilities and just life stuff.

ETA: by 1967 we had a kiddo and had saved $6,000 for down payment for a house.

[phil5185]

I got my engineering degree in 1963, I think the pay was about $6700/yr.
Moved into a brand new furnished apt in early 1964, $100/m, utilities included.
Bought a new 64 Pontiac GTO convertible in 1964, payments were $100/m.
    In about 1966 or 7, dealers in PHX were selling new pickups for $1599.
    BTW, I saw Tex Earnhardt in Starbucks today - he is PHX's largest dealer, has about 22 dealerships.
The SS withholding in 1963 was $174/m (it was paid on the first $4800/yr of earnings).
In 1965, Pres Johnson started Medicare, that was withheld based on my entire $6700.

[Anne_in_VA]

My first job paid $75/wk before taxes or about $3,900 per year at The Teavelers Ins. Co. In 1966.  I was a keypunch operator which I hated.  After a few months I transferred to another department until I got a job at the phone company.  I know I made more at that jub but don't remember how much more.  I lived with at least two roommates until I got married in 1969.  Ex and I lived in a third floor walk-up for $66 per month.  

[Rob Base 2.0]

I can save and spend more now that I rent out my basement to 4 people

[The Walk of the Penguin Mich]

My first job, I saved $15/week.  I took home $140/week and my rent was $250/mo.  So I saved just a little over 10% of my salary.  No retirement plan for that job.

When I left work, I was saving over 1/3 of my paycheck on top of what went into retirement.

ETA:  I was saving more when I stopped working than I made each year in my first job.

[NoNamePerson]

Guess I could back up to expenses as best as I remember them:

We married and moved here we rented 3 bedroom furnished for $140. When we bought a bedroom suite they knocked $10 off rent.

I have no clue what utilities were then but not much.

We had a paid for car - EX's car when we married -only one car at the time - I took bus to work!!!

Built 1st home in 1966 for $20,000 and put $6,000 down (we had inside track on buying materials wholesale and knew who to get to build since we subbed it out) It was 1800 sq ft, three bedroom, two bath, den, living room, dining room kitchen, double carport on 1/2 acre.  Sold it 6 yrs later for $57,000. 

Think the note was $185 P&I. Tax and insurance paid separately. But no memory of exact amount except really low since I think we had the lowest property tax in the US at the time!! 

[NoNamePerson]

Aug 6, 2017 19:36:24 GMT -5 Anne_in_VA said:

My first job paid $75/wk before taxes or about $3,900 per year at The Teavelers Ins. Co. In 1966.  I was a keypunch operator which I hated.  After a few months I transferred to another department until I got a job at the phone company.  I know I made more at that jub but don't remember how much more.  I lived with at least two roommates until I got married in 1969.  Ex and I lived in a third floor walk-up for $66 per month.  

Flashback!!! I learned keypunch in 1962!!!   Do I feel old 

[giramomma]

Savings rate is probably fairly similar.

My first "real" job I made like 24K a year. DH and I grossed 35K, and we had over a 15% savings rate, maybe 18% or so. At our high, we were saving 23-24%.

Expenses. We had none. No kids and no debt when we were first married. Sometimes, I miss those days..even if we didn't make anything. I also had little responsibility at my job as compared to now.

[justme]

Salary has increased a bit over 25k. Retirement is currently a bit more than 2.5k more. Not including my hsa, that while being used should end up between 1-2k at the end of the year. The big thing is my savings accounts, probably about double before - hitting low five figures. A lot of it is probably going to be redirected to my condo for the next year, but what's there is mostly one year of savings (ie this time next year it might not go up but I should have no less than now). I will say I've spent more on vacations in the last year or two.

My expenses have gone up and down - higher rent/mortgage, no car payment, no tv, longer commute, but no tolls, lower electricity, etc. I'd venture my set expenses aren't much more than 500 more.

So the remainder of my raise is taxes (last year was first year with deductible and it's only my mortgage interest) and increase in spending.

[siralynn]

We max two 401(k)s and two backdoor Roths, so we're at $47k of savings before even looking at taxable accounts.

That's quite a bit more than my annual stipend when I started grad school 17 years ago. I don't remember the exact number, but I think it was in the mid $20k range.

I also almost certainly pay more in fed and state taxes each year than I used to make per year. File that under "good problems to have"

[resolution]

My first full time job paid $16k per year. This year we have invested $10k to my pension fund, $20k in index funds, and paid down $5k in mortgage debt.

[Anne_in_VA]

Aug 6, 2017 19:36:24 GMT -5 Anne_in_VA said:

My first job paid $75/wk before taxes or about $3,900 per year at The Teavelers Ins. Co. In 1966.  I was a keypunch operator which I hated.  After a few months I transferred to another department until I got a job at the phone company.  I know I made more at that jub but don't remember how much more.  I lived with at least two roommates until I got married in 1969.  Ex and I lived in a third floor walk-up for $66 per month.  

I save more per month now than I earned that first year.  Some of that is my $2k SS payment.  Some of this is lomg term savings for retirement and some is EF and savings for projects around the house.

[Regis]

So far this year, I've saved more than four times what I made my first year out of college (1987).

[thyme4change]

I save more than my first real job, and my husband saves more than his first real job.