HOW MUCH HAVE YOU WORKED?
This was a question that needed a bit more research for an answer, I had to go back into my budgets from previous years (I use this Budgeting Tool) and try to remember the days I worked and how much I made.
WANT TO SEE THIS EVERY YEAR?
You can see my previous calculations on working hours & salary here.
Maybe I’ll make this an annual feature?
Let me know.
- I only calculated business days worked (e.g. 5 days a week not 7)
- I put the net income earned (after taxes, as I do my own salary so I know)
- I work 8 hours per business day, 40 hours a week (very few clients say 35 hours a week to account for lunch)
- When I don’t work, my income is $0 and my expenses eat away at my savings, feast versus famine, you know…
TOTAL GROSS INCOME = $1,048,040.27
Wow! I cracked the million-dollar gross earnings threshhold. Nice. At least I hit a milestone somewhere….
If we consider my net worth is $631,367.18 now, it means I saved about least 60.24% of my gross income, not to mention having eliminated $60,000 of debt (net) in 18 months with my budgeting tool.
Taking into account my debt, I have a savings ratio of 65.97% then.
TOTAL OF ACTUAL DAYS WORKED = 1684 out of 3024 days in total
In total, over my entire career (about 3024 working days) this is how much I have worked at my day job.
I have fully counted my employee years and only my actual freelancer days.
Basically any day I had to work in some capacity for money, counts.
Any day I was not on a contract, does not.
Approximately 6.68 years, for a rate of about 55.69% of actual working….
Okay, so we’re still hovering around my average of only having worked half of my life…
INCOME EARNED OVER THE YEARS
I obviously like to work and then chill out for at least a year afterwards.
My partner was joking the other night (LITERALLY LAST NIGHT), that it was about time for me to quit my job and take a break.
He wasn’t sure if I could handle actually working a full year straight on something and not taking at least another year off to compensate. He said it was about time around now that I get really frustrated with having to go to an office daily, and I usually, USUALLY take a break pretty soon for the equivalent amount of time I worked.
I told him I did work for one full year !! A few years back, and he said: Well. You were really getting tired at the end, I knew it wouldn’t last. 😛
I feel like I’m semi-retired, which is the better way to describe my working life.
I think I prefer this kind of lifestyle. I have lower (relative) stress, and the only stress I get now is mostly from Little Bun, but that time will pass eventually and I will miss it probably.
I’d rather work less and then just live off the money.. work some more.. then live.
You know, chill. Take it easy. I still have 30+ years left to work.
MY TRUE AVERAGE SALARY = $86,643.54
If we just look at actual days worked, my average salary per day over the years of employee and freelancer combined is $696.08 a day, or about $172,603.03 if I ONLY count the days I worked.
But as I don’t work the full year often, my average salary is really closer to $86,643.54 because you have to count in bench time where I work at $0 a day.
So now if we look at that versus my net worth of $631,367.18…
I have more than 7X my salary saved.
Of course, some of it is in my new car now, but *shrug*… take away $100,000 and I still have 6X my salary saved.
That’s not too bad. I suppose if I wanted a stretch goal I’d make it something like $176,000 as my salary benchmark, but I’m going to take the easy win here and not look too hard at this or overthink it.
All I know, is that I have a lot of money saved, I am on track financially, I am happy, I am healthy, I have a wonderful family and a good work-life balance. I feel like not many people can say this, and I’m very privileged to be able to.
This is how I invest, what I use to track my investments, how I budget my money, and how I make some extra money off my side hustle (this blog but this is more of a hobby for me that happens to make money…)