Anonymous wrote:"nut" and "cover your nut" are common terms, people

To "cover your nut" in the US, is a slang term for meeting your financial obligations; the basic bills and obligations that you have to pay.

"You've Got to Know Your 'Monthly Nut'"
https://www.foxbusiness.com/features/youve-got-to-know-your-monthly-nut

An article from 2016

Busta

Anonymous wrote:

Anonymous wrote:Your question doesn't make any sense. If cutting back still allows you to save enough to meet your goals then your question is really does everyone just max out their earning potential and the answer is obviously no.

OP here. First of all, the responses have made me laugh - yes I am nutty! lol

You actually phrased it what I was asking. I just don't think I have met anyone that was open about not maxing out their earning potential without family money.

Plenty of people do it. The jobs forum is filled with people that left biglaw for govt or in house. Sure, most wouldn't make partner but they could have landed at a midsized firm but still putting in significant hours.

My take is not to assume a 90k a year job is a lot easier than your current job. Salary is not the best indicator of workload.

"nut" and "cover your nut" are common terms, people

To "cover your nut" in the US, is a slang term for meeting your financial obligations; the basic bills and obligations that you have to pay.

"You've Got to Know Your 'Monthly Nut'"
https://www.foxbusiness.com/features/youve-got-to-know-your-monthly-nut

How can you bring in less money but continue spending and saving at the same amounts? Where is your money going if not either saving or spending?

Ew. I sure hope you don’t use that phrase in the workplace.

Anonymous wrote:Your question doesn't make any sense. If cutting back still allows you to save enough to meet your goals then your question is really does everyone just max out their earning potential and the answer is obviously no.

OP here. First of all, the responses have made me laugh - yes I am nutty! lol

You actually phrased it what I was asking. I just don't think I have met anyone that was open about not maxing out their earning potential without family money.

Do you mean your break even?

I focus on saving enough for 20x nuts, then I can quit and feed myself on the saved nuts.

Huh?

What’s a nut?

This is nutty.

Your question doesn't make any sense. If cutting back still allows you to save enough to meet your goals then your question is really does everyone just max out their earning potential and the answer is obviously no.

When my DH and I calculate our “nut” it turns out we could live a dialed back but similar lifestyle and high savings if our income was as low as $170,000. It is currently $270,000 – DH makes $70,000 and I make $200,000.

My career is pretty intense and would really like to dial back the intensity for the last part of my career (15-18 years). With this scenario I could look at positions that pay as low as $90,000 or try my hand at consulting which I think could be lucrative for me.

Does anyone else look at their income “backward” from their nut or is that just too simplistic/naïve? Fwiw this “nut” includes continuing saving at the same levels which are generous.