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Storytime
Sharing a few stories that I heard this week, which you may find to be relatable and of interest
Weekly Trivia
Data Source: July 1, 2024 Published Survey via Bankrate
On average, what salary do Americans feel they’d need to feel financially secure or comfortable? |
Introduction
I get the benefit of hearing a new story everyday. Most of which are about people, their careers, aspirations, finances, you name it.
Today, I’d like to share a few conversations from this week.
***For the record, these are real people who have allowed me to paraphrase their stories, experiences & messages for this blog post.***
Single, 30
Job: Marketing Director @ Startup
Income: $135,000/yr
Net Worth: $100k
Location: San Diego, CA
Her Story:
“I like my simple life, but it began in NYC. I came from a nice family, had no debt after school, and was set up with a great role at a top tier agency. Made good money, had a great apartment, but one day it all hit me. My success and lifestyle were spoon fed, and I felt trapt. So I made a big career risk, took a new job, and moved to the other side of the country.”
Her Advice:
Run to something, don’t run away from something. You don’t need to make a radical change (new job or city) to find happiness.
Married, 32 & 29
Job: Software Sales @ Oracle, Recruiter @ Small Agency
Income: $200k - $300k/yr (bonus dependent)
Net Worth: $400k
Location: Nashville, TN
Their Story:
“We met in college and have always played things safe. Our wedding was modest, just like our vacations and social life. Dave Ramsey and his philosophies describe us to tee. However, now we avoid change or risk at every corner. At times I feel like we are trapped by our safe lifestyle.”
Their Advice:
Tight budgets, safe choices, and conventional career moves provide a lot of comfort and security. But there is such thing as too much security. Live with a little spontaneity.
Young Family, 36 & 34 with 2 Kids
Job: Attorney @ Corporate Law, Homemaker
Income: $275,000/yr
Net Worth: (-$50k)
Location: Norfolk, VA
Their Story:
We are a classic case of millennial parents. Lived our twenties to the fullest, began to settle down, and (quickly) learned how expensive life can get. There are no regrets behind our life in D.C., but our finances were an afterthought.
Their Message:
We always said that we would never move back to where we came from. But wait until your first daycare bill or realize you’ve gone months without a date night. Don’t underestimate the value of family support.
My Key Takeaway
I constantly ask my financial advisor about his “other clients.” In a weird way, it’s a core benefit of our relationship. It helps me feel less alone about my situation and their always interesting to hear.
Thanks for reading, Habits fam. See you back here next week for more.
-JB
Got feedback? Hit reply and tell me what you think…I’m always looking to level up.