Five years ago, at age 29, Kim E. started her first professional, salaried full-time job, working as a firefighter for the City of Austin, Texas. She received a starting salary of $42,000.
Today, five years later, she has saved:
- one year’s salary ($40,000) in an emergency fund
- one year’s salary ($42,000) in a workplace retirement fund
- more than half a year’s salary ($27,500) in a Roth IRA
She also paid off her student loans ($10,000), paid off her car loan (roughly around $16,000-ish), and contributed to an H.S.A. account ($6,000, half of which came from an employer match.) Oh yeah, and she also bought and renovated a rental property.