FIRE advice can help (and usually does) most people reach their financial goals faster. Max out the 401k, maximize your taxes, reduce spending, etc. Spending is probably the area where people deviate the most - as they should - because everyone's dream life looks different.
Congrats! You're obviously somewhat familiar with the FIRE movement, which means you're already ahead of the game! Earning a high income can either facilitate reaching your goals more quickly, or make you feel that much more regret when you fall behind. So let's stick with the former!
Here's an initial post about what I plan to write about here. For background - I am a biglaw attorney kicking off on a sprint to financial freedom. Making all this money at a young age has enormous benefits, but it also comes with unique pitfalls. I hope to write about both and help fellow high income earners stay on...
Bonus season is upon us! It really makes this the most wonderful time of the years. But as you know from my golden handcuffs post, you may be feeling some pressure to spend that bonus on something big for yourself or on holiday gifts, because hey, you deserve it! WRONG - Well, half wrong. You DO deserve to be rewarded...
So I'm sure you've seen my math behind financial independence in biglaw article, so you know that after everything, under the current salary and bonus pay scales, a first year associate should be able to stash away $106,895.25 after their first year (this figure includes 401k savings and the end-of-year bonus that likely won't hit the account until...
For those that are unfamiliar with the phrase, "golden handcuffs" it refers to the idea that those who earn high incomes are "cuffed" to higher and higher spending as their income increases. By nature of "keeping up with the Jones's", and the Jones's are spending more and more as your career and salary take off.
