How do you make your money?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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ny_rn
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How do you make your money?

Post by ny_rn »

I hope this isn't too personal, but I am curious how most people around here make their money. So, how do you make the money to invest? I.e. - career, inheritance, side jobs, etc... I'll start.

Career: Emergency room registered nurse. Future family nurse practitioner.
Other streams of income: Considering a rental property in my hometown (Little Rock, AR).
Location - Brooklyn, NY
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leonidas
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Re: How do you make your money?

Post by leonidas »

I manage IT projects for the FED in NYC. Been in the business 20 years. My wife works for a non profit in NJ. The pay is decent but nothing compared to what you can get at a wall street firm. I like the 5 weeks of vacation and I have the time to take it.
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Toons
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Re: How do you make your money?

Post by Toons »

Consistent investing :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
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leonidas
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Re: How do you make your money?

Post by leonidas »

Toons wrote:Consistent investing :happy
That's my goal!
bobbyrab
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Re: How do you make your money?

Post by bobbyrab »

I am now 65 and retired since age 52. I make my money from investment income and social security. I am now building my first house in NC, so after all those years of modest living, I guess I am what is called a "late bloomer".
Remember - the tortoise DID beat the hare.
AlanDistro
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Re: How do you make your money?

Post by AlanDistro »

I'm 30 and five years ago I started a small indie record label and merch company for popular YouTubers. It's really taken off, from my bedroom to a 5,000 sq ft warehouse and full-time staff. I pay myself a small salary but most of my money comes in the form of profit distributions.

I also do occasional freelance graphic design and webmaster work for friends and professionals in the YouTube space.

And this summer I started renting out the second floor of my house. So that covers a nice chunk of the mortgage every month. :moneybag
sscritic
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Re: How do you make your money?

Post by sscritic »

Use the search box. Put in occupation.

http://www.bogleheads.org/forum/viewtopic.php?t=1408
http://www.bogleheads.org/forum/viewtopic.php?t=71669

How does today differ from 2007 and 2011?
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Sheepdog
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Re: How do you make your money?

Post by Sheepdog »

Investing during retirement.
Oh yes, monthly Social Security stipend. :P
Unless you try to do something beyond what you have already mastered you will never grow. (Ralph Waldo Emerson)
tacster
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Re: How do you make your money?

Post by tacster »

Pension.
Investment income.
Social Security in a few years.
INSERT PITHY QUOTE HERE
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pennstater2005
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Re: How do you make your money?

Post by pennstater2005 »

Toons wrote:Consistent investing :happy
:greedy
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson
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Go Blue 99
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Re: How do you make your money?

Post by Go Blue 99 »

I work in finance at a mega-corp. Wife works in human resources at a mid-sized company.
We also get a small amount of passive income from a stake my wife has in her family business.
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Abe
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Re: How do you make your money?

Post by Abe »

Working for money is hard. Someone told me one time, "you've got to get something working for you other than yourself." It's like swimming upstream until you get something working for you, then you can start swimming downstream. :happy
Slow and steady wins the race.
heyyou
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Re: How do you make your money?

Post by heyyou »

Worked at a labor intensive job with mandatory overtime. Was laid off for six weeks within the first year of my buying a house. Swore that I would never again be that stressed about money. Wasn't qualified for a better paying job, so I stayed with that one. I retired at 55 from that entry level position, but with some pension, retiree medical benefits, and barely a double comma portfolio.

I saved my money by living below my means, and had substantial savings invested in the stock market when a bull market occurred. While earning above median national wages in a low cost of living area, and driving the same vehicle to work for 20 years (bought used, three years old, chosen for reliability), I could always max out IRAs, 401(k), and put a little into a taxable account. With no kids, I could choose to live nearer work which reduced the misery of commuting.

I had transferred to a retirement area due to a new job opening that was at the end of a real estate bust there. That house rode the real estate bull market until I sold it to buy a retirement house. All that was luck, but see how the guy with the saved money was luckier than the ones without savings. My first house only doubled in price in 20 years, and I lost a couple of years of my annual income early in a failed limited partnership, so my early investing mistakes were a blessing in disguise. Sure didn't feel that way then.

I'm still a slow adopter of new technologies, just like my Dad who was slow to buy that first TV. He was a Depression era young adult. I wonder if a new crop of thrifty young people is being trained by their economic situations in spite of the advertising that preys on insecurities.
Last edited by heyyou on Fri May 23, 2014 11:17 am, edited 1 time in total.
dylanh
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Re: How do you make your money?

Post by dylanh »

I'm a lawyer in Atlanta.
My wife and I buy, renovate and sell homes as a side business.

I'm also very glad to be a part of this community!!! :sharebeer
Traveler
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Re: How do you make your money?

Post by Traveler »

I am in marketing for a megacorp so salary+bonus is my income. I get a nominal amount from investments but most of my investments are in retirement accounts anyway.
The biggest jump in salary was due to getting an MBA and then again a few years later by changing industries.

I live well below my means, save a relatively high percentage of my gross income, but also travel overseas several times a year and don't feel like I deprive myself of anything I truly want. I drive an old car which frees up at least $400/month for investing and/or saving for the time I need a new used car. Provided things go as planned, I should be set for retirement when the time comes in 15 or so years.
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FelixTheCat
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Re: How do you make your money?

Post by FelixTheCat »

I've been working and investing for 30 years.
Felix is a wonderful, wonderful cat.
coalcracker
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Re: How do you make your money?

Post by coalcracker »

My wife and I are physicians. Work is busy but we like it. We both make it a priority to get adequate time off (she has 8 weeks vacation, I have 12).

No side jobs, one job is enough for now :D
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NaOH
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Re: How do you make your money?

Post by NaOH »

About to start my last year of pharmacy school, currently work at a big chain store as an intern.
Previously worked in IT for a regional department store before going back to school.
Fiance is a physician.
"Are you flying? Or are you simply floating?"
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White Coat Investor
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Re: How do you make your money?

Post by White Coat Investor »

Emergency Physician
Website related revenue
Book royalties
Speaking fees
Writing fees
Rental real estate
Stock fund dividends
Stock fund capital gains
Bond fund dividends
Bond fund capital gains
Bank account interest
Peer to Peer Lending Interest (minus capital losses)

I guess I've achieved multiple streams of income, but let's just say some are the Mississippi while others couldn't cause a flash flood in a slot canyon.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
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Go Blue 99
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Re: How do you make your money?

Post by Go Blue 99 »

sscritic wrote:Use the search box. Put in occupation.

http://www.bogleheads.org/forum/viewtopic.php?t=1408
http://www.bogleheads.org/forum/viewtopic.php?t=71669

How does today differ from 2007 and 2011?
Are you saying nobody on this board has changed jobs since 2011?
Are you also saying this board has added no new members since 2011?
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Toons
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Re: How do you make your money?

Post by Toons »

leonidas wrote:
Toons wrote:Consistent investing :happy
That's my goal!
+1 :sharebeer
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
island
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Re: How do you make your money?

Post by island »

Both salaried wage earners. Me health care provider with same org for many years, spouse engineer in telecom.
Usual dividends, interest and cap gains in taxable accounts that we always reinvest.
Both of us will have 401ks and pensions in retirement and hopefully SS.
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abuss368
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Re: How do you make your money?

Post by abuss368 »

Toons wrote:Consistent investing :happy
Very good advice!
John C. Bogle: “Simplicity is the master key to financial success."
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abuss368
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Re: How do you make your money?

Post by abuss368 »

Earnings from professional career are building up portfolio's. Dividend income is increasing very fast every year. The goal will be to have more dividend income than we will need as a source of cash flow for retirement.
John C. Bogle: “Simplicity is the master key to financial success."
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Toons
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Re: How do you make your money?

Post by Toons »

abuss368 wrote:
Toons wrote:Consistent investing :happy
Very good advice!
:sharebeer
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
twindad57
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Re: How do you make your money?

Post by twindad57 »

43 years old. Senior Executive with large federal government agency. We are currently a one-income family with 2.5 year old twins, but for many years we were two incomes, no children.

One rental property - my first home, which I was fortunate enough to keep when I relocated.

From day one of my working career 22 years ago, I've saved and invested 15% or more. More difficult at times (like after a divorce at age 25), easier at other points (many years with current wife and two incomes, before kids were born). We saved 45-60% of our combined income in many of those years.

Have finally reached the point where our investments are working for us, so while our savings rate is 'down' to 15-20% we have a large base already invested.
Grt2bOutdoors
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Re: How do you make your money?

Post by Grt2bOutdoors »

leonidas wrote:I manage IT projects for the FED in NYC. Been in the business 20 years. My wife works for a non profit in NJ. The pay is decent but nothing compared to what you can get at a wall street firm. I like the 5 weeks of vacation and I have the time to take it.
It's not the pay - it's the benefits, don't be bashful. :moneybag
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Grt2bOutdoors
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Re: How do you make your money?

Post by Grt2bOutdoors »

Go Blue 99 wrote:I work in finance at a mega-corp. Wife works in human resources at a mid-sized company.
We also get a small amount of passive income from a stake my wife has in her family business.
We could be twins with the exception that our meager passive income is derived from various investments.
The investments are the result of savings from wage only income.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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abuss368
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Re: How do you make your money?

Post by abuss368 »

How many folks actually track the total dividend income each year to determine if it is increasing?
John C. Bogle: “Simplicity is the master key to financial success."
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SteelyEyed
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Re: How do you make your money?

Post by SteelyEyed »

I use high-quality paper and ink in an expensive scanner/printer.
Grt2bOutdoors
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Re: How do you make your money?

Post by Grt2bOutdoors »

abuss368 wrote:How many folks actually track the total dividend income each year to determine if it is increasing?
I do.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
bhsince87
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Re: How do you make your money?

Post by bhsince87 »

I'm an engineering manager at a privately owned business. My wife is a computer analyst at a mega corp. I'm 49, shes 47.

My salary is variable, $120k to 180k. Hers is $55k.

But in the past few years, our investments have generated more money for us (dividends, interest, and capital gains) than our jobs!
Time is what we want most, but what we use worst. William Penn
Atilla
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Re: How do you make your money?

Post by Atilla »

Me: Sales - straight commission - 7% of gross revenue.
Wife: Web site manager for a doll company.
US: Investments are starting to hit critical mass and have a life of their own (when the market is up).
IMD801
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Re: How do you make your money?

Post by IMD801 »

DW and I are both medical providers.

No inheritance or other sources of income.
JJP
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Re: How do you make your money?

Post by JJP »

24 years old. Regional airline pilot. Just starting out and building the portfolio. Not married and 0 kids. I work a TON, but I appreciate the fact that I can travel anywhere in the world for nothing or close to it.
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Clearly_Irrational
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Re: How do you make your money?

Post by Clearly_Irrational »

I work in IT doing either management or senior technical roles depending on the company. I'm currently finishing up a bachelors in finance before starting in on an MBA.

My wife is a barefoot horse trimmer (basically a farrier but without the shoes). She's currently working on her biology degree. (She got tired of doing accounting and office management)

We own two rental properties as well.
gerrym51
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Re: How do you make your money?

Post by gerrym51 »

Pharmacist-but now mostly retired :mrgreen:
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abuss368
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Re: How do you make your money?

Post by abuss368 »

bhsince87 wrote:I'm an engineering manager at a privately owned business. My wife is a computer analyst at a mega corp. I'm 49, shes 47.

My salary is variable, $120k to 180k. Hers is $55k.

But in the past few years, our investments have generated more money for us (dividends, interest, and capital gains) than our jobs!
That is awesome and the goal for us. For that level of dividend income, do you invest in total market funds? Do you add dividend stocks?
John C. Bogle: “Simplicity is the master key to financial success."
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tetractys
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Re: How do you make your money?

Post by tetractys »

I'm collecting signatures a few hours a week for a petition to amend the 1st amendment--16 states in so far; 17 more to go. There are no direct dollar earnings, but in the long run it will help redistribute some wealth to many thousands of deserving people. Mainly I study, demonstrate, and teach music, although that's also voluntary with larger results down the line. I might start publishing the piles of music I've composed or transcribed. I have a paying government job with full benefits as well--just enough to give me breaks from my real work. -- Tet
Last edited by tetractys on Sun May 25, 2014 4:00 pm, edited 1 time in total.
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plantingourpennies
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Re: How do you make your money?

Post by plantingourpennies »

I'm sales-averaging 94K the last 3 years, wife is a mathematician who pulls in slightly less; we're both 31. Our duplex throws off some cash as well most years.
heyyou wrote:...just like my Dad who was slow to buy that first TV. He was a Depression era young adult. I wonder if a new crop of thrifty young people is being trained by their economic situations in spite of the advertising that preys on insecurities.


I work in an office that is full of 20-somethings, and rent to kids in college. Not sure if I'm biased, but I see evidence of this.

Best,
Mr. PoP
yolli71
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Re: How do you make your money?

Post by yolli71 »

My wife and I are federal employees. We also rent out the basement of our home for $1,400/mo., though that will probably end when our two kids are out of daycare in a few years.
texasred
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Re: How do you make your money?

Post by texasred »

Retirement investing
Social Security
Pension
Small Business
bhsince87
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Re: How do you make your money?

Post by bhsince87 »

abuss368 wrote:
bhsince87 wrote:I'm an engineering manager at a privately owned business. My wife is a computer analyst at a mega corp. I'm 49, shes 47.

My salary is variable, $120k to 180k. Hers is $55k.

But in the past few years, our investments have generated more money for us (dividends, interest, and capital gains) than our jobs!
That is awesome and the goal for us. For that level of dividend income, do you invest in total market funds? Do you add dividend stocks?

The dividend income last year was around $40k. The rest was capital gains (some realized, some not). I do own quite a few individual stocks and REITs, but I don't necessarily recommend that for most people. It's a lot more work, with more risk, plus I have access to information many people don't. I'm slowly moving away from individual stocks as I get closer to retirement.

I realize there are some people on this board who feel we shouldn't count capital gains or even dividends as income, but I'm not in that camp. I'm always in fear of stirring up that hornet's nest! :|
Time is what we want most, but what we use worst. William Penn
cdavis13hunt
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Re: How do you make your money?

Post by cdavis13hunt »

I refine crude oil at a major refinery (glorified valve turner, button pusher, and screen watcher)... Small time investor
bbqguru
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Re: How do you make your money?

Post by bbqguru »

Run a propane retailer and hearth/bbq retail store.

Wife is a RN
scrabbler1
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Re: How do you make your money?

Post by scrabbler1 »

As a 51-year-old early retiree for the last 5 1/2 years, my money works for me to make money, not the other way around. :D
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Clark & Addison
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Re: How do you make your money?

Post by Clark & Addison »

Myself--middle school teacher
Wife--nurse
Wife--rental income from farmland
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midareff
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Re: How do you make your money?

Post by midareff »

Lot's of hard work and save, invest, save, invest, save...............
steve_14
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Re: How do you make your money?

Post by steve_14 »

Clark & Addison wrote:Myself--middle school teacher
Wife--nurse
Wife--rental income from farmland
So it's just the three of you then? :)
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plannerman
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Re: How do you make your money?

Post by plannerman »

When I was growing up, my father used to talk about making his money work for him. I didn't know then what he was talking about--now I do. I play golf while my money works for me.

plannerman
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