Originally Posted by
dundem
I can't argue with anything that's been posted above, so I'll just reiterate- it's not how much you earn, it's how much you save/spend.
I used an online compound interest calculator and ran two sets of numbers over ten years at 5% interest:
1) if you invest $48,000/year at 5% interest, you will have roughly $700,000 after ten years.
2) if you invest $36,000/year at 5% interest, you will have roughly $525,000 after ten years.
These numbers are $4,000 and $3,000/month respectively.
If you're an FO with two children in school, it is realistic to achieve either of those savings targets. It just depends on how you choose to live.
So, according to you, even with 2 childern going to a private school
"THE AMERICAN SCHOOL" in Dubai, someone who is judicious in spending & lives a simple but decently good lifestyle, can expect to save abt $3000 per month while working as an Emirates FO.
Is that correct??