I keep seeing posts and tweets about what financial “experts” recommend, and they always make me feel terrible about what I’ve been able to do. Today’s nugget was that it’s recommended that you have double your salary saved by the time you’re 35. I won’t get close to that.
I turn 32 in two weeks. I was part of a company-wide layoff in November, and had three months severance. I’ve been trying to find full-time work, but all I seem to be attracting are freelance positions. I’m currently working two freelance jobs, but not making enough to pay rent and bills with just that income (I live in Los Angeles). Unemployment insurance helps with the difference.
My salary before my layoff was $73,000, but I was overpaid for my position. I’m probably looking at about $60,000 at whatever full-time job I eventually find. I have $18,000 in checking+savings and $35,000 in my 401(k). I don’t have kids, don’t plan on ever having kids, I won’t be buying a house, and the car I bought a few years ago is almost paid off. I’ll probably need to dip into my savings a bit to help pay rent if I don’t find a full-time job soon. Is this as far below where I should be as all these posts imply?
Submitted May 16, 2018 at 02:02AM by butterbeancd https://ift.tt/2Krs7Uh
