Monday, July 18, 2011

What do you think of a $70K annual salary?

I'm 22 years old and currently working for a private equity firm. I make $70K a year plus 30K in year end bonuses. I've been contributing 10% of my annual salary into my 401K. In addition, I have already paid down all of my outstanding debt/loans. Currently, I have $60K in emergency savings earning 1.00% interest. How would I compare to the rest of the working population around my age? Also, what should I do with the $60k of excess funds now that the stock market is performing poorly and record low interest rates? Thanks.

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