Hi forum,This is a personal subject to many, but I was hoping to start a thread to understand the financial goals of other consultants, their achievement given their experience and how happy they are with that achievement. It would be interesting discussion to see how we are performing relative to others. I think there is value in this discussion to help benchmark your own personal financial goals, but also educate outsiders on what consulting compensation/lifestyle is really like. I certainly don't want this to become and ego-battle to see who has the biggest 'ding-dong', but a genuine look into our profession and lifestyle.Please feel free to post whatever you're comfortable with. Here's my profile:- 8 years consulting experience, no MBA- Current savings = 43% of after tax income- Total assets >80k (stupid GFC), no property (lived and worked around the world paying other people's mortgages) - No debt- Single, no family to support- Overall, I'm ok with this level, but suspect total assets are low given my life choices

- 5 years consulting experience + MBA- Current savings rate = ~65% of after tax income.- Total assets: 250K, no property- No debt- Married, no children- Plan to continue on this savings track with target retirement (exit corporate world, work in non-profit/part time/whatever) in mid-40s

- 9 years consulting experience, no MBA- around 50% of after tax income saved- total assets around 300k, approximately 200k equity in large, 5 bedroom detached house- Mortgage of around 400k- Married, 1 childNow considering the move to leave Consulting and enter startup world - running own business in both real-estate and online (don't tell Accenture)Jaded, bored with working for someone else, feel there is more to life, more to see and better experiences to be had. Wife feels the same and both now considering going into business together....

- 7 years consulting experience- Current savings around 40% income- Total assets around 130k, half is equity in property- Not marriedIn the long term I don't really see consulting paying. Given the lifestyle sacrifices / stress for the pay I'd be far happier with a similar / slightly lower salary in industry longer term and this sentiment is shared among most of my colleagues of similar experience.

- 7 years consulting experience, no MBA (looking to study)- Current savings rate = 0% of after tax income (supporting elderly parents and siblings)- Total assets around 150k, in equity in property- Mortgage 238k, and 5k debt- Married, 2 childrenUndervalued, under challenged and also looking at exit options from Accenture (feel free to tell them)

You lot have saved some serious dosh considering it's early days in your careers. Averaging 50k saving per year worked? I'm in the wrong profession :-(

Don&apos;t assume asset base = dosh under the mattress. While it doesn&apos;t grow on trees money can come from various places, and it certainly can grow if tended to properly. - 6 years of consulting experience (4 in a small firm)- considering MBA- current average savings = 40% after tax income- total assets 120k- no mortgage, no debt- with partner, to tie the knot in <2 yearsOverall pretty happy though I would have preferred to have saved more in my early years. Current level of job satisfaction is not great as witnessed in past posts, though a management fast track is on the cards.

[quote]Don&apos;t assume asset base = dosh under the mattress. While it doesn&apos;t grow on trees money can come from various places, and it certainly can grow if tended to properly. - 6 years of consulting experience (4 in a small firm)- considering MBA- current average savings = 40% after tax income- total assets 120k- no mortgage, no debt- with partner, to tie the knot in <2 yearsOverall pretty happy though I would have preferred to have saved more in my early years. Current level of job satisfaction is not great as witnessed in past posts, though a management fast track is on the cards.[/quote]Agreed, but it still seems people are building an outragous amount in assets. Taking you for an example;6 years consulting = 120k assets120/6 = 20k per annum20k = 40% after tax income (which is probably overstated, as I imagine you saved a lower % when you earned less)20k/40*100 = 50k50k take home (assuming student loan) = approx 80k salary on average (probably more if you have a pension)So to build 120k in assets in 6 years (granted not taking in to account interest/investment aspects), you would have needed to average 80k per annum over six years since the beginning of your career? Seems absurdly high!Sorry to use you as an example, this could equally apply to all the above. I&apos;m just not sure how you guys are managing it! Potentially;- Inheritance?- Consulting experience was proceeded by industry experience?- Lotto?- Garden oil field?If this is down to investments, someone needs to tell me where to put my very modest sum lol!

You should also consider dual incomes (which is why I stated single/married initially). Dual incomes can make a huge difference in building those assets. Also consider living arrangements. In my first few years of consulting, I moved back home because I was traveling all the time. It didn&apos;t make sense to rent a flat. Additionally, since I was traveling all the time, work paid for everything. I essentially had no cost of living (I only scarified my personal life). I saved quite a bit as a result. I&apos;m enjoying this thread as it has already allowed me to benchmark my own progress. I think it&apos;s time for me to buy some property =)

Some of you have done well if it&apos;s not increasing equity in property that makes up your assets!Here&apos;s me- 7.5 years consulting experience, no MBA - Current savings = at best 5% of post-tax income nowadays with reduced household income- Total assets c.£280k of which £100k in equity in house and £125k in pension funds, remainder liquid- £13k on car loan but no other debts- Married, one child, wife not working

With 25 years experience to draw on I&apos;d say there are a number of life phases to asset building....1) leave uni with debts - focus on clearing them2) debts cleared and a few salary increases later - lots of scope to amass cash3) meet someone - two salaries - asset base griws quickly as costs are shared4) buy house - cash poor, but asset rich5) kids arrive - back to one salary ( or significant additional child are costs) - previously affordable debts become painful - still asset rich, even poorer on cash terms6) slowly return to cash positive7) kids leave home - sudden increase in available cash and oversized house, asset and cash rich againOf course at any point you can break the chain by achieving a significant increase in income - one that makes previous financial commitments a non issue.

[quote]With 25 years experience to draw on I&apos;d say there are a number of life phases to asset building....1) leave uni with debts - focus on clearing them[b]2) debts cleared and a few salary increases later - lots of scope to amass cash3) meet someone - two salaries - asset base griws quickly as costs are shared4) buy house - cash poor, but asset rich5) kids arrive - back to one salary ( or significant additional child are costs) - previously affordable debts become painful - still asset rich, even poorer on cash terms[/b]6) slowly return to cash positive7) kids leave home - sudden increase in available cash and oversized house, asset and cash rich againOf course at any point you can break the chain by achieving a significant increase in income - one that makes previous financial commitments a non issue.[/quote]Love the progression here. So you attract a partner by getting rich, then you buy her a house and she gives you a kid? It&apos;s just like on TV!

- 13 years consulting experience, no MBA- Current savings = 75% of income... expat, no tax :-)- Total assets $800k (200k property, 200k cash, 400k investments)- No debt- Married, wife expecting!

- 12.5 years Accenture since grad , no MBA- Current savings = 56% of income- Total assets GBP400K - investments and cash no property(Includes inheritance 10K ten years ago + whatever interest since)- No debt - Single, not in UKPaying a lot of rent, if I&apos;d bought property around 6-7 years back total assets would be closer to GBP550K I think

This is single income. Once my wife finishes med school and residency, we&apos;ll pull in >500K a year. Idea is to both retire in mid-40s.

Sounds like u got it all worked out...