It doesn’t factor in the cost of your education - obviously a major expenditure for many of these occupations, based on their requirements - or how you can grow your savings through investment, but it should still give you a clear sense of how fast someone can stash away money in each job. Using that figure, the study then calculates how long it will take you to save up that $1 million while making an average salary in the profession. Then, it deducted the cost of federal taxes and the average cost of living from that figure to show how much income you would have left over after covering the basics. So which jobs can you expect to do that? To answer the question, GOBankingRates used data from the Bureau of Labor Statistics (BLS) to determine the average salaries of many common jobs. Related: This Is the Living Wage You Need in All 50 States See: The World's Most In-Demand Jobs That Don't Require a Degree You need the sort of job that’s going to pay well in excess of what it takes to cover your bills. After all, with all of the various costs that come with living your life and raising a family, having enough income held back to hit that second comma on your net worth is just not a simple feat. Becoming a millionaire is a dream harbored by many an American, but it’s also one that precious few manage to reach in their lifetime.
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