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[quote=Anonymous]Young associate here and I think 20:03's advice is best.  If you're single with no children and don't own a house, you will pay a ridiculous amount in taxes.  The only way to cushion that is to max out your 401(k) right away.

Like others said, rent VERY cheaply.  I and so many of my fellow associates made the mistake of renting a nice apartment within walking distance of our offices, and every single one of us has moved.  The price tag of living downtown is not offset by having no transportation costs.  160k sounds like a ton of money, but you'll be sad to see how little is left after taxes, rent, student loan payments, bills, etc.

I honestly do not know how these people managed to save $150k+ in three years (outside of 401(k)) and it honestly seems like a load of horse shit to me.  If you're single and can save 20k per year I think you're doing a great job.  The only way I was able to save 4k per month was by moving in with my fiance and moving far out of the city.  She makes 1/3 of what I do but that extra income is essential (as another poster mentioned).  [/quote]

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