My Top Money Secret

Below is a Top Secret discussion on money: 

Have you ever wondered how much money somebody makes?

I do!

Every single day actually. 

I wonder how much my friends/co-workers/bosses/ and CEOs make, but I’m not going to ask. I actually think it’s illegal to ask. Maybe it’s not illegal, but frowned upon. I don’t know, I’m not in Human Resources.

I do know it almost seems natural to wonder.

How did that person afford that car or that house?

For me, I really want to know what my boss makes because that is “the next level.”  If I’m ever promoted to manager, I would be making X amount. X is why I wake up and go to work. X is why I grind hour after hour trying to better our organization. X is what pays for groceries, bills, travel, entertainment, etc.

Why is X such a secret?

I’m throwing my financial cards on the table for all to see.

My annual salary is $50,053.12.

I get paid every other week (aka bi-weekly). 26 times a year, money gets deposited from my work, telling me that I am doing a good job and as a “thank you.” I wanted to show just how much I make once everything is broken down.

When you divide my annual salary by 26, you will see every paycheck I make $1,925.12.

After my pre-tax contribution is taken out for my 403b, which I have set at a rate of $800 per paycheck, the total left is $1,125.12.

Now the government can have their way with my paycheck. They take out $291.82 for Taxes/Medicare/Social Security. $1,125.12 – $291.82 = $833.30

I present my Net Wage of $833.30.

This adds up to $21,665.80 a year after everything is taken out.

This also means I must live on less than $1,805.48 per month or $59.36 per day or $2.47 per hour to “live within my means.”

Yes, the savings rate is a bit extreme, but I can see my net worth and dividend income going up in every monthly update. This is completely worth it to me.

I have also picked up a side hustle so I can continue to stay aggressive with retirement savings and still enjoy adding guacamole to my burrito bowl.

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