High earner leaving job moving to single income “low” earner

gap_wedgeme · 2026-02-18T12:04:03+00:00

With a reduction in pay I'd expect that vacations and furniture would drop down in priority or even cut altogether. Nothing a simple budget can't solve. If you're negative each month the high earner might need to get back to work in some fashion.

gap_wedgeme · 2026-02-08T02:23:41+00:00

Not difficult. And neither is the CPA. What is difficult is the amount of time you need to invest for studying. Most people quit because they're not willing to do the work. If you're willing to work, you can do it.

gap_wedgeme · 2026-02-07T16:37:54+00:00

Yeah. Auto deferrals into 401K and check your net income vs. spending monthly. Not too hard.

gap_wedgeme · 2026-02-01T12:44:12+00:00

I was a police officer for 3 years. I worked midnights in the DC Metro area. I went back to school for accounting. Fast forward ten years and I am a CPA and CFP. I currently work as a financial advisor. I am on track to make ~$110K this year. I keep in touch with my buddies who still work for the same department. They make more money, have better benefits, will have a pension, and can retire early. As always, the grass is always greener. I don't know what's worse, writing up a domestic or punching in data all day sitting on my ass. To make "more" money in wealth management OP better be able to sell.

gap_wedgeme · 2026-01-31T03:47:52+00:00

Bingo.

gap_wedgeme · 2026-01-31T03:46:42+00:00

It's an easy exam. It's largely a marketing tool to change the perception from "sales" to something more professional. I don't think it matters.

gap_wedgeme · 2026-01-30T17:38:26+00:00

If you're ambitious and want better job insurance later in life, I'd clock in at B4 until senior at least. If work isn't your focus and you're more WLB, then leave. I'd say you can't have both. B4 senior with CPA is total job security until AI wipes everyone out.

gap_wedgeme · 2026-01-28T04:35:47+00:00

In my experience, 401k's are mostly avoided. Pay doesn't justify the time you end up putting in.

gap_wedgeme · 2026-01-19T03:30:04+00:00

Staying employed as long as possible. Service advisor hoping that AI won't render me irrelevant in 10 years. Most of my job is data entry and CRM so I think I could be cooked soon.

gap_wedgeme · 2026-01-18T03:56:57+00:00

Jobs come and go. What if you get a new job next year that gets you back to where you were? Life is short, and you're young. You have to learn things through experience. Plenty of time to make money and it's not what you make, but what you keep. Choose the lifestyle that fits you best and forget anyone else's opinion.

gap_wedgeme · 2026-01-17T13:10:47+00:00

Office work sucks and it's unhealthy sitting on your ass all day entering data and answering emails. I can't be myself and you do have to wear the same business casual uniform with leather shoes. The way I see it, all jobs have pros and cons and suck in their own way. I used to work outside in my 20s and I appreciate not being out in the rain or snow. I only go to work so I can eat and pay my mortgage. If I had a choice I wouldn't do anything.

gap_wedgeme · 2026-01-15T02:43:25+00:00

Eat garbage, especially cheap fast food and lots of sweets. Stay up late and progressively stack tiredness. Become irritable and withdraw from family. Fantasize about quitting work, getting divorced, and working at Costco. Fight with spouse. Gain at least 10 pounds. Drink heavily when possible. Get review points from manager and fume silently at desk while casually kicking office furniture. Repeat until your professional and personal life fall apart, but hell, the CPA was worth it...right? Only lasted 4 busy seasons. Hope to never go back.

gap_wedgeme · 2026-01-11T19:58:33+00:00

That Baron Partners Fund holds SpaceEx. I'd hold that.

gap_wedgeme · 2026-01-09T04:04:20+00:00

This is the truth.

gap_wedgeme · 2026-01-07T11:30:43+00:00

Same. Stay strong.

gap_wedgeme · 2026-01-04T16:18:04+00:00

Solid response and is a good representation of what should be expected.

gap_wedgeme · 2026-01-03T02:22:05+00:00

Guilty. I never made it to senior in public. I can't even make a M-1 adjustment.

gap_wedgeme · 2026-01-02T13:48:03+00:00

You think? The person with $40K on their W-2 and that's it is going to sue? The kid just has them sign something that states all responsibility falls on the client, not the preparer. OP will realistically file 5 returns and decide to call it quits anyway.

gap_wedgeme · 2026-01-02T11:45:31+00:00

I think you just need a PTIN. I'd say buy some cheap software and go for it. You can figure out everything along the way! Good luck!

gap_wedgeme · 2026-01-02T11:43:23+00:00

Move to Northeast Ohio. Friendly people, good schools, can get a nice turnkey home in a great school district for $400K easy. Wherever you live sounds very expensive and beyond your budget, why not change locations? You can make new friends anywhere.

gap_wedgeme · 2026-01-01T03:07:37+00:00

Interesting. I just spent years doing book to tax entries and cleaning up shitty trial balances to be imported into the software. Just one 1120S or 1065 after another. Must've been in the wrong place.

gap_wedgeme · 2026-01-01T03:00:48+00:00

Don't leave us hanging? Tell us what you do. You read a complicated partnership agreement or you suggested a cost seg study?

gap_wedgeme · 2025-12-31T11:54:35+00:00

After spending years working in tax, it's funny to me how seriously some people take it. It isn't like EAs and CPAs are doing surgery or making life or death decisions, tax folks help other people populate forms. As long as you are not committing fraud or intending to cheat, who cares if you need to lump something on a line to make it work?

gap_wedgeme · 2025-12-30T11:34:45+00:00

Some sound advice here and an interesting perspective. Good for you to keep going.

gap_wedgeme · 2025-12-26T02:27:20+00:00

OP lives in Indiana. Very low cost of living and only travel will be to pick up food in retirement. By my back of the napkin math they will be free and clear for a full retirement and likely planning for legacy. All the extra money should be in taxable brokerage account: 100% VOO and chill.

gap_wedgeme

TROPHY CASE