How/Where to Save $$$
Wondering a couple of things - as an A1 grossing ~$250k+ incl bonus how much can you realistically save throughout the year? And of the major financial cities (Nyc, Sf, etc) is there a location that is realistically more conducive toward saving? Ik going out is huge in nyc so would imagine harder to save there, but could someone speak to it first hand?
In SF you can live in neighborhoods that don’t include Marina area or also safer parts of Oakland. Try not to have a car because that adds another 500/month for parking. Limit eating out to be a social activity and meal prep for work. Stick to living below your means. Smaller apartment, lower end gym, etc. It really pays off and you can see that by projecting it in Excel.
Would you say 2k is a reasonable amount for a studio/1b1b in SF or it is way too high?
You can find 1b1b places for 1.5k and studios for ~1.1k in safe neighborhoods. If it were me I would do that to maximize saving potential
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This is a boutique shop I assume. EB or MM?
Assuming a standard base salary of $100k, set up 401k contribution (10-15%) and direct deposit into HY savings account (eg Marcus by Goldman) of around $500 per paycheck or $1k a month. Spend the rest and bank your entire bonus at the end of the year.
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