r/financialindependence • u/fidgit86 • Aug 13 '21

What do you do that you earn six figures?

It seems like a lot of people make a lot of money and it seems like I’m missing out on something. So those of you that do, whats your occupation that pays so well?

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u/EasternHuckleberry20 Aug 13 '21

Accountant here and I’m married to an accountant. I’m 2.5 years into my career and sitting at $72K (I’m not a CPA). I left PA (tax) in Feb 2021. No amount of money was worth my mental health and I was completely debt free out of college.

My husband is 5 years into his accounting career and broke 6 figures recently (he is a CPA). He came out of college with student loan debt and a car payment. He still works in PA in advisory as a consultant. He makes more than me but at the end of the day after his debt to income, we are averaging about the same. His income will eventually crush mine. He’s projected to earn around $750k over the next 5ish years.

I will add, majoring in accounting and then going on to work in accounting, you can very quickly pay off student loan debt. He can completely pay off his debt right now if he wanted to but with loans in forbearance, we aren’t going to yet. Compared to our friends, the pace he’s been paying off his debt is insane. His car will be paid off very soon. After all that, the only debt we will have will be the mortgage, which we will probably pay off much sooner than 30 years.

Accounting is a great choice for making a lot of money quickly and living debt free. We are hoping to FIRE pretty young compared to our friends.

Current age: I’m 25 and he’s 28 Location: MCOL in the southeast

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u/TilmanFartitta 29d ago

If you don't mind me asking, what type of a position do you have?

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My wife and I are in a very similar situation. Were both working in public accounting (she's a CPA, but not me) and were both pretty burned out on it after 10+ yrs in the industry. She's been applying for private sector work but hasn't had much luck. Everybody tells her that because most of her experience is in tax, she's pretty much stuck in that. I try to encourage her and keep her hopes up, but it's taken a toll on her mentally to the point to where i'm starting to become concerned.

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u/EasternHuckleberry20 29d ago

I sent you a more detailed message. The toll 2020 took on tax accountants is no joke. I can’t imagine 10 years of it and then the pandemic on top of that. I still work in tax but for a private company. The hours are much more manageable and the job is way less demanding.