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, rent, food, etc..
So I'm surprised the 120k guy isn't putting away more.
I make $70k in the midwest and save $3k/month. That's $3k after taxes, insurance benefits, rent, food, etc..
So I'm surprised the 120k guy isn't putting away more.
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?
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.
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.