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How much is a solicitor's average salary?

How much money can you save yearly from an average programmer's salary in San Francisco?

  • Living a normal life - not spending like crazy, but not tightening your belt too much either.

  • Answer:

    This really depends on what you consider a "normal life" and how much you actually are making.  I'll start assuming you are young and single. Rents vary wildly and will represent a huge percent of your after-tax income. I've seen people do as low as $450 and as high as $2300 a month.  Assuming you want to live in an area filled with young professionals, and are fine with roommates, you'll likely be doing $1,000 minimum a month on housing related costs. Is a car part of being normal? If so, add another $300; want to live in a densely populated area? Add another $200 or so for parking. No car? Transit will hit ~$100/month. If you don't cook much, food'll probably burn through $500+ a month. And maybe toss in another $400 for all sorts of other expenses (entertainment, gyms, whatever). So you are looking at $2000 a month w/out the car and maybe $2400 with it. Or $24,000 to $29,000 a year.. At an $80,000 salary, you'll take home ~$55,000.  Assuming your job also has decent health coverage, you can easily be saving $26k to $31k a year.

Aaron Staley at Quora Visit the source

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You should always be saving at least 15% of your take-home pay toward your . The truth is that even in you can find ways to live very very frugally and save an even higher percentage of your income. You could, for example, live for $25,000 in the San Francisco area. Saving: The Most Fundamental Element of Wealth http://www.emarotta.com/saving-the-most-fundamental-element-of-wealth/ Surplus income is . Deferred consumption is the textbook definition of wealth, which can be used as a capital investment to produce additional wealth. Saving a million dollars isn't so difficult. Investing just $16.20 a day at a 10% rate of return grows to $1 million in 30 years. This phenomenal rate of growth comes simply by having $16.20 more in income than spending each day. By saving $162 a day, you could accrue $10 million after 30 years. The most successful way to save is to automate your saving plan. Make savings your default setting. Establish an automatic electronic funds transfer from your checking account to your investment account the day after each paycheck is deposited. You won't miss what you don't see.

David John Marotta

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