How do you make your money?
How do you make your money?
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
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
Re: How do you make your money?
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.
Re: How do you make your money?
Consistent investing
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: How do you make your money?
That's my goal!Toons wrote:Consistent investing
Re: How do you make your money?
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.
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Re: How do you make your money?
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.
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.
Re: How do you make your money?
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?
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?
Re: How do you make your money?
Investing during retirement.
Oh yes, monthly Social Security stipend.
Oh yes, monthly Social Security stipend.
Unless you try to do something beyond what you have already mastered you will never grow. (Ralph Waldo Emerson)
Re: How do you make your money?
Pension.
Investment income.
Social Security in a few years.
Investment income.
Social Security in a few years.
INSERT PITHY QUOTE HERE
- pennstater2005
- Posts: 2509
- Joined: Wed Apr 11, 2012 8:50 pm
Re: How do you make your money?
Toons wrote:Consistent investing
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson
- Go Blue 99
- Posts: 1119
- Joined: Thu Oct 09, 2008 3:42 pm
Re: How do you make your money?
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 also get a small amount of passive income from a stake my wife has in her family business.
Re: How do you make your money?
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.
Slow and steady wins the race.
Re: How do you make your money?
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.
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.
Re: How do you make your money?
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!!!
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!!!
Re: How do you make your money?
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.
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.
- FelixTheCat
- Posts: 2035
- Joined: Sat Sep 24, 2011 12:39 am
Re: How do you make your money?
I've been working and investing for 30 years.
Felix is a wonderful, wonderful cat.
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Re: How do you make your money?
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
No side jobs, one job is enough for now
Re: How do you make your money?
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.
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?"
- White Coat Investor
- Posts: 17409
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- Location: Greatest Snow On Earth
Re: How do you make your money?
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.
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
- Go Blue 99
- Posts: 1119
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Re: How do you make your money?
Are you saying nobody on this board has changed jobs since 2011?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 also saying this board has added no new members since 2011?
Re: How do you make your money?
+1leonidas wrote:That's my goal!Toons wrote:Consistent investing
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: How do you make your money?
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.
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.
- abuss368
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Re: How do you make your money?
Very good advice!Toons wrote:Consistent investing
John C. Bogle: “Simplicity is the master key to financial success."
- abuss368
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Re: How do you make your money?
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."
Re: How do you make your money?
abuss368 wrote:Very good advice!Toons wrote:Consistent investing
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: How do you make your money?
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.
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.
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Re: How do you make your money?
It's not the pay - it's the benefits, don't be bashful.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.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Re: How do you make your money?
We could be twins with the exception that our meager passive income is derived from various investments.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.
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
- abuss368
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Re: How do you make your money?
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."
- SteelyEyed
- Posts: 389
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Re: How do you make your money?
I use high-quality paper and ink in an expensive scanner/printer.
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Re: How do you make your money?
I do.abuss368 wrote:How many folks actually track the total dividend income each year to determine if it is increasing?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: How do you make your money?
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!
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
Re: How do you make your money?
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).
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).
Re: How do you make your money?
DW and I are both medical providers.
No inheritance or other sources of income.
No inheritance or other sources of income.
Re: How do you make your money?
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.
- Clearly_Irrational
- Posts: 3087
- Joined: Thu Oct 13, 2011 3:43 pm
Re: How do you make your money?
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.
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.
Re: How do you make your money?
Pharmacist-but now mostly retired
- abuss368
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Re: How do you make your money?
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?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!
John C. Bogle: “Simplicity is the master key to financial success."
Re: How do you make your money?
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.
- plantingourpennies
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Re: How do you make your money?
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.
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
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
Re: How do you make your money?
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.
Re: How do you make your money?
Retirement investing
Social Security
Pension
Small Business
Social Security
Pension
Small Business
Re: How do you make your money?
abuss368 wrote: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?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!
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
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Re: How do you make your money?
I refine crude oil at a major refinery (glorified valve turner, button pusher, and screen watcher)... Small time investor
Re: How do you make your money?
Run a propane retailer and hearth/bbq retail store.
Wife is a RN
Wife is a RN
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Re: How do you make your money?
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.
- Clark & Addison
- Posts: 257
- Joined: Mon Jan 14, 2013 11:15 am
Re: How do you make your money?
Myself--middle school teacher
Wife--nurse
Wife--rental income from farmland
Wife--nurse
Wife--rental income from farmland
Re: How do you make your money?
Lot's of hard work and save, invest, save, invest, save...............
Re: How do you make your money?
So it's just the three of you then?Clark & Addison wrote:Myself--middle school teacher
Wife--nurse
Wife--rental income from farmland
- plannerman
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- Location: NC Mountains
Re: How do you make your money?
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
plannerman