Personal Finance
20 years ago I barely made $3,000, now I make $120,310 in robotics and automation
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You can grow your income considerably if you take a long-term perspective. A 37-year-old Redditor shared his experience of going from $3k per year to $120k per year in the robotics and automation industries. The Redditor’s income fluctuated for a few years before he earned $28k in 2014. After that point, his income continued to grow at a steady pace. There are some valuable insights you can learn from the Redditor’s journey.
A Redditor shares his path to a 6-figure income in the robotics industry.
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The Redditor responded to several comments, and one person asked how he got into the industry. It turns out the Redditor knew someone who had a family member in the industry. That connection led to a job that the Redditor admitted was a low-paying job with a bad workplace culture.
However, the experience helped the Redditor job hop and work with more established companies. You don’t always get lucky with your first job. The culture, hours, pay, and other details may be unfavorable. The Redditor made $28k in the first full year at that job, which isn’t much to write home. People at the start of their career trajectories may have to contend with low wages in the beginning, but they can scale up like the Redditor and end up with a $120k salary in a few years.
The Redditor has had a few low-paying jobs before getting to a 6-figure salary. He used to work in the Peace Corps and had a brief stint as a bus driver, where he was paid $7 per hour in 2007.
The 50-30-20 rule suggests that you spend 50% of your income on necessities, 30% of it on wants, and 20% of iton investments. Someone who invests 20% of a $120k salary can contribute $24k to their portfolio each year, which comes to $2k per month.
Assuming someone starts with no portfolio, contributes $2k per month, and gets an annulled 8% return, they can end up with a $2.7 million portfolio in 30 years.
Continuing to invest in your portfolio and living below your means can lead to an earlier retirement. Even if you want to work for as long as you can, it’s nice to have a large portfolio that makes money something that you don’t have to worry about.
Just as it took several years for the Redditor to earn 6-figures, it takes many years of consistent investing to reach a $1 million portfolio and get into retirement range. Setting short-term and long-term financial goals can help you stay focused.
The average U.S. salary is $66,621.80, so you likely won’t earn six figures right out of the gate. The Redditor earns almost double the average U.S. salary, and you can reach that level, too, if you remain focused on developing your skills and pursuing new opportunities.
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