Hey all,
Has anyone seen The Money Habit Blog? Didn't want to post a link but, essentially this girl is saying she was able to save 2.25mm after 7 years of work coming out of school working in NYC (Harvard grad). Believe she worked for JP Morgan but someone else mentioned that he had seen that on one of the articles. Does this seem realistic for and IBD analyst/associate/junior VP to be able to pull this off? Or maybe she was a trader? But how many roles would allow this? It just seems high to me given she was still spending ~24k a year and then NYC taxes. She was just doing index fund investing so lets say from 2009-2015 I did some calculations and it was an enormous amount she would have had to save.. not just earn.. to be able to achieve this.
I know people in NYC make a lot of money but right out of school when you take into accounts NYC costs / taxes it just doesn't leave of time to compound. Anyways, I asked her for the play by play so we'll see if she posts it eventually. If there was some gifting involved it would make more sense to me but then again you guys on here probably can figure this out better than me. Maybe this is a typical amount to be able to save in 7 years lol and I am just out of touch never having worked in NYC.
Thanks.
