Late 20's median income mustachian starting out- critique my budget!

[monstermonster]

Sometimes I get discouraged on here because at age 28, it seems that the other younger mustachians have way way more assets than me. I'm not racing from 10K to 100K yet, because I'm racing to $10K still! And while other folks my age make salaries twice of mine, it gets discouraging. I work in nonprofits, so this is the most I’ve ever made but I graduated 2 years ago with a BA in Economics from an expensive school with no debt thanks to the Americorps award and Pell grants. I’m single, no children (and plan to never have them.)
I'd love to hear your thoughts/critiques on my budget. I’m working towards getting extra spending down to where I’m saving 50% of my income. Currently I am at 40%.

Gross Salary: $39,520
After taxes, medical and 401K deduction, I take home $2288/month.

Mostly Necessary: $1017
$655: Rent/Internet/Electric
$160 Groceries & CSA share & Household goods
$40 Medical Copays
$30 Misc
$5 Public Transport
$15 Hosting & Web Services
$12 Renters Insurance
$100 Charity

Funtimes: $245
$40 Restaurants
$100 Bars + Sewing (sewing in winter, bars in summer)
$10 Coffee
$20 Running
$50 Liquor Cabinet & Beer at home
$15 Theatre
$50 – This is my sinking “travel” fund for an annual 20+ day work trip where I usually hit about 5-8 countries. 
-------------------------------------
Spending Total: $1252

Savings/Investment Contributions Monthly:
$100 - IDA savings account
$160 - Emergency Fund
$190 -  pretax 401K in Vanguard retirement target funds
$458 - Roth IRA
----------------------------------
Savings total- $908

Current Assets:
$1,945 Roth IRA at USAA managed target fund - when this gets to $10K, I'm moving it to Vanguard Admiral
$1000 Individual Development Account Savings (this matched 3:1 at withdrawal for qualified expenses, up to $6000)
$1100 in Emergency Fund
$296 in 401K (I just qualified for this a month ago)
1/3 ownership stake in a podcasting studio (no returns at the moment)
----------------------------
Total Assets: $4341
Debts: none

One of my biggest issues with cutting food/restaurant spending is that my SO also saves 50% of their income but they make 4x what I do. Which means that their “cutting back” on restaurant and bar spending is still much more than I spend. I’ve curbed them down a lot (we meal plan now and have a CSA) but there’s still a differential.

Questions: What motivation do you have for my net worth goal of $100K? At the current rate I’m saving, I won’t be there until I’m 37 years old. Do you think my emergency fund should be growing at a faster rate at the expense of fully-funding my Roth IRA?

[leighb]

I love my wine. I've cut my alcohol budget to $3 a month by making my own wine. I average 1 gallon a month. When I make the wine, it's always with free fruit. The real expense is in the sugar. Occasionally, the wine turns out bad (parsnip wine) that's when we distill it.

Right now you have alcohol at $150 in the winter time. That seems like an easy place to see real savings.

[monstermonster]

...But can I make my own bourbon without killing everyone? This is the *Most* important question.

[RosieTR]

Agreed that $100 for bars seems a bit high. Could you go to bars but be the DD and thus if anything buy a soda? Or is this cover? As for the sewing-perhaps could sell a little bit and make it cost-neutral? As for EF vs Roth; depends on your potential emergencies. Roth can be used (esp the principal) in a pinch for true emergencies like major health issues; look up the qualifications for that and your other fund. Those may work as backup EFs.

Compound interest does work! Also if you and SO get serious the savings may be way better. Look again at those mythical charts retirement companies have on their sites. It'll take a long time for the first $10K, but shorter and shorter for subsequent ones. Keep chugging along and you'll be fine!

[leighb]

Make vinegar then.

[Bracken_Joy]

Honestly, your spending seems quite good. The question is your income. It is very low, particularly with college. I know you're in non-profits, but it may be worth considering a side hustle if you want to be FI.

[monstermonster]

Regarding the bars: I know it's high. I've really got to get it down. I have plenty of excuses but it's mainly that I live within a 5-minute walking distance of 21 microbreweries. I.Am.Not.Even.Kidding. It's ridiculous.
I work in fundraising so I have a lot of meetings over beer but I can't actually pay for alcohol with reimbursements at work (due to work restrictions). But honestly, it's the one place my lifestyle has inflated.  The trick is convincing him to drink at what is an appropriate income level for me when he has an income so much higher.

Regarding income: it's not going to change- I got a $10K raise in May and that is the last I'll see for awhile. I lived at $100/stipend a month when in voluntary poverty and at $800 on Americorps. I finally emerged from having 5 jobs just 4 months ago and now I'm down to 2 and it's great. I work 70+ hours a week so no side hustle at the moment.

I make 80% of the median income in the richest country in the world. I should probably be okay with that ;)

[Bracken_Joy]

I make 80% of the median income in the richest country in the world. I should probably be okay with that ;)

Ah, but you clearly have goals beyond simple survival or you wouldn't be on a forum dedicated to abnormal values about money and FI/FIRE. ;)

[Seppia]

Hosting/web services $15 month?
I have a podcast with friends and our unlimited audio plan is $96 per year.
If you own 1/3 of it it means cumulatively you are spending $540, that seems high.
It's a small expense but...
Also $20 running? You mean the shoes? Not sure where you live but mostly running should be free right?

[monstermonster]

I have podcast hosting at $15/month- my podcast gets 30k downloads a month so it is pricey. The studio rent is $175 month but we have renters so I pay nothing in the end (break even). The podcast hosting wasn't even gonna be mentioned, it is paid for by sponsors.

But I also run websites for myself and for various side gigs/jobs so those are $180year. I do a lot of data stuff on my web server and run my email through  it. :-)

$20 for running- I run two or three half marathons each year and they are $80/Pop. I had to buy new shoes for $100 this year which sucked.

[monstermonster]

I make 80% of the median income in the richest country in the world. I should probably be okay with that ;)

Ah, but you clearly have goals beyond simple survival or you wouldn't be on a forum dedicated to abnormal values about money and FI/FIRE. ;)

Touché!
Part of why I found MMM was because I was struggling with how to do things once I got out of poverty level. But now I am sold on compound interest :-p

[Bracken_Joy]

I make 80% of the median income in the richest country in the world. I should probably be okay with that ;)

Ah, but you clearly have goals beyond simple survival or you wouldn't be on a forum dedicated to abnormal values about money and FI/FIRE. ;)

Touché!
Part of why I found MMM was because I was struggling with how to do things once I got out of poverty level. But now I am sold on compound interest :-p

With the $100k goal, if the income side isn't an option, than the expenses will have to drive down even lower. $40/mon copay- is that one visit, or two? Seems like extremely frequent trips to the doc. (Unless that is meds?).
You need to capture that $30 misc category. While $30 isn't that much, splitting hairs is the only way to get lots of $ with low(ish) income.
What do you use for finance tracking? Do you do cash or CC? If you're using CC, mint captures all expenditures. CC churning and bank account rewards are a common side hustle on here. Someone even put together a free course on it, although I haven't done it and don't know the link off the top of my head!

Lastly, and maybe this sounds like the 1950s, do you think you will marry your SO and combine assets? If so, that $100k goal will be easy with your frugal muscles and their higher income.

Honestly, you're doing great, you just have an admirably large goal. Don't get down on yourself, and flex those frugal muscles!

[KCM5]

So....I really just want to hear more about this cocktail making robot!

Really, it sounds like you're doing fine and are just constrained by your income. Regarding the differences in your/your partner's incomes and savings goals, it sounds like you both are into saving money, so a discussion about your goals could get you onto more even footing. Like, what if you paid for in home socializing (ie beer) and he paid for out of home socializing (the bar). Or something like that. I'm married and have never been in a relationship with uneven incomes without combining expenses (ie - before we married we had no money and had separate finances, after we married only I worked for a few years, but we had combined finances) so I don't know really how to navigate that issue - and maybe it's not even an issue for you. But it's something to think/talk about with your partner.

[monstermonster]

I don't think marriage is on the table :-) But now they're reading this thread... :-P

Cocktail making robot! I will post about it.

Regarding Misc: I actually do capture it (it's mostly $1 candy at walgreens or toothpaste or sunscreen, etc). I just didn't itemize it because I figured it would be boring. Most months it goes a lot lower. I track everything on YNAB (and I actually take a picture of everything I buy too, this year, for a weird project I'm doing.)

The medical is a $40 copay on a $2800 medication I take for an autoimmune disorder. So I'm coming out ahead on that one.

[thd7t]

Why are you waiting until you hit Admiral Fund level to move your funds to a Vanguard Index?  The USAA one has around a .9% ER.  VTSMX requires $3000 to get in, has a .17% ER, and will automatically convert to VTSAX when you hit $10k.

[thd7t]

I make 80% of the median income in the richest country in the world. I should probably be okay with that ;)

You make 80% of the median Household income.  The median individual income (for someone over 25) is in the mid 30's, so you're actually making above average.

[monstermonster]

Ah yes, I was using 80% of MFI for my metro area for a household of 1, which is different than national. But even more to my point "make more money" doesn't really align with the MMM "anyone can do this, stop complaining" if the median Income is lower than mine.

[fdubz]

Why are you waiting until you hit Admiral Fund level to move your funds to a Vanguard Index?  The USAA one has around a .9% ER.  VTSMX requires $3000 to get in, has a .17% ER, and will automatically convert to VTSAX when you hit $10k.

THIS.  I read to the bottom to post exactly this.  As someone who had to move several USAA funds to Vanguard after discovering MMM and learning the drain that fees can be, my advice to you is move it, move it NOW!  I started with only $1k in the Vanguard STAR fund, then moved to VTSMX as soon as I hit $3k.  Last month I hit $10k and was moved to VTSAX.  It was awesome. :)

[Valetta]

I'm curious why you think your income won't change. I work in nonprofit fundraising, and in my experience you can get frequent raises/promotions.

5 years ago when I was 28, I got my first FT fundraising job (before that I was doing nonprofit admin work at $32k) and was making $45,000. Now 5 years later at age 33, I make $88k (I'm on my 3rd job in 5 years though - all moves for increasing responsibility/pay). From talking to all my fundraising friends, my trajectory isn't uncommon. Average length of stay in the U.S. for a Director of Development is only 18 months, people move around a lot so there are always opportunities.

Are the job prospects not very good where you are? While I think cutting expenses is good, I don't think there is any reason to be so pessimistic about your income.

[Rosy]

Why are you waiting until you hit Admiral Fund level to move your funds to a Vanguard Index?  The USAA one has around a .9% ER.  VTSMX requires $3000 to get in, has a .17% ER, and will automatically convert to VTSAX when you hit $10k.

THIS.  I read to the bottom to post exactly this.  As someone who had to move several USAA funds to Vanguard after discovering MMM and learning the drain that fees can be, my advice to you is move it, move it NOW!  I started with only $1k in the Vanguard STAR fund, then moved to VTSMX as soon as I hit $3k.  Last month I hit $10k and was moved to VTSAX.  It was awesome. :)

+1  Glad somebody finally laid that out for me to read and set into motion - thanks!

You are doing great - 40% savings is awesome and you've already come a long way.

I can tell you from experience that it can be tricky to have separate finances where one of you has a better income. We worked it out over time - life is not about money, but about values and now 15 yrs later I actually have slightly more income - an unexpected turn of events. He's a good guy money was never an issue, but still we needed to discuss it as all couples do.
We never did mesh our finances all the way, we just agreed on what we were each responsible for and adjust whenever circumstances change.
 
What made me feel a lot better was a couple on the Suze Orman money show, where some dingbat dude insisted she pay 50% of everything. How can one do that when you have considerably less coming in? Suze set him straight and told him in no uncertain terms, "If the rent or whatever is $1500 and that represents 20% of your income - she also pays 20% of her income", that my friend is equal distribution.:) Makes sense doesn't it?
The other thing that she made me realize is that sometimes your skills and other contributions will even out the score as well.

You are just finding your feet in the working world and the stars are beginning to align for you - so just stay on it as far as tackling the budget and your first investments, we all have to start somewhere.
There are always ways to cut if you either simply must, but it can aslo be fun to discover new and different ways to improve your finances. Sometimes it is all about a shift in perspective, remember what is important to you and make it happen:)

On the income - you are never stuck, don't even think that way. "They" want you to think that way of course, since they just coughed up 10K, but if you know what you are worth and bringing to the table and keep your eyes open as to what happens in your field - you will move on and up.
It is a job - things can change in the blink of an eye for better or for worse.

[ShoulderThingThatGoesUp]

Can you monetize those 30k downloads a month?

[fb132]

You shouldn't feel down. I make almost the same income as you (I make about 35K$) and in 2 years I will probably hit my 100K, so it is possible, the only thing that is tough for people like us (low income earners) is that it takes alot of patience to reach certain goals like the 100K$, but it's doable. In my case it will have taken a good 5 years to hit 100K and I suspect it will take less time to hit 200K$ because of the compound interest. Keep up the good work, cut on the beer if you really want to lower your spending, but in general, I think you are doing fine.

[vagon]

Just to throw this out there, could you cut back the charity spending until you've got your stash sorted?
Seems like you already work a lower wage for a non-profit which is already fairly charitable of you.

[Valencia de Valera]

Greetings fellow normal-income Mustachian! I also sometimes feel discouraged seeing others making incredible amounts of money; DH and I make about 60k combined at this point. I would suggest running your numbers through a compound-interest calculator, I think your estimates are a bit pessimistic on when you'll reach 100k. It really does go faster the more you have built up. I've used this calculator http://www.daveramsey.com/blog/investing-calculator/#/entry_form but I'm sure there are tons of options.

In order to get to 50% you need to move an additional $172 per month from spending to savings. vagon just pointed out the $100 going to charity. I don't know if that's something you're willing to compromise on or not, but assuming you can reduce the $100/month donations, that would leave you with another $72 in spending to eliminate which, were it me, I would try to trim from the entertainment budget. I interpreted your response about the bars to mean that your SO is kind of the instigator of the high restaurant/bar costs. Maybe just talk to him and see if he would be willing to pay more of the cost if he's the one who wants to go to more expensive places? DH and I have a system that if one of us wants to buy something expensive and the other wouldn't have chosen to buy it, but will also enjoy/benefit from this purchase, the person who wants it pays most of the cost. Maybe something like that could work for you?

[monstermonster]

I'm curious why you think your income won't change. I work in nonprofit fundraising, and in my experience you can get frequent raises/promotions.

Are the job prospects not very good where you are? While I think cutting expenses is good, I don't think there is any reason to be so pessimistic about your income.

I'm really really really hoping to stay at my org for as long as I can, and there's only one position on my career track above me (CEO) but I work in a very specific niche (too specific to not give myself away here if I mention it) and it's my passion. There's also no other orgs in my city that work on it. So while moving to a different org/higher ed would make me a better income, if I can, I want to do this work until I die.

[monstermonster]

You shouldn't feel down. I make almost the same income as you (I make about 35K$) and in 2 years I will probably hit my 100K, so it is possible, the only thing that is tough for people like us (low income earners) is that it takes alot of patience to reach certain goals like the 100K$, but it's doable. In my case it will have taken a good 5 years to hit 100K and I suspect it will take less time to hit 200K$ because of the compound interest. Keep up the good work, cut on the beer if you really want to lower your spending, but in general, I think you are doing fine.

<3 Thanks. This was encouraging.

[monstermonster]

Why are you waiting until you hit Admiral Fund level to move your funds to a Vanguard Index?  The USAA one has around a .9% ER.  VTSMX requires $3000 to get in, has a .17% ER, and will automatically convert to VTSAX when you hit $10k.

THIS.  I read to the bottom to post exactly this.  As someone who had to move several USAA funds to Vanguard after discovering MMM and learning the drain that fees can be, my advice to you is move it, move it NOW!  I started with only $1k in the Vanguard STAR fund, then moved to VTSMX as soon as I hit $3k.  Last month I hit $10k and was moved to VTSAX.  It was awesome. :)

I'm going to do this tomorrow! You've inspired me!

[BBub]

Given the current figures you are on pace to hit $100k in 7yrs.

If you make a few cuts and increase monthly savings to $1,100 per month it'll take 6 yrs.

So, basically you have two viable options:
1. be content with hitting $100k in 6-7yrs, or
2. figure out a way to increase income/savings.

If you decide on option 2, don't limit yourself in your career - especially early on.  Your twenties is when you have the opportunity to set the tone for future salary/earnings.  If the salary really is capped then consider switching jobs, figure out some side hustles, learn to sell some things on the side, figure out real estate, ramp up the podcast biz... something.  But you will need more income if you want to speed things up.

[monstermonster]

Given the current figures you are on pace to hit $100k in 7yrs.

If you make a few cuts and increase monthly savings to $1,100 per month it'll take 6 yrs.

So, basically you have two viable options:
1. be content with hitting $100k in 6-7yrs, or
2. figure out a way to increase income/savings.

You did the best TL;DR of this thread :-) Given I don't (hopefully ever) want to change jobs, and the 5-job-side-hustle boogie wore me out physically and mentally after doing it for so long, I'm gonna go for option 1.

[BBub]

Ha - thanks, I guess?

[Davids]

Your monthly budget is not bad. Might be able to cut back on bars and booze but won't critique that. So the real thing is increasing your income. Are there side hussles you could do or maybe look for a new job to increase that income. Less than $40k for a college had with a real degree like what you have is not that great. I don't mean to be a downer but my advice is to increase your income.

[surething22]

Just to throw this out there, could you cut back the charity spending until you've got your stash sorted?
Seems like you already work a lower wage for a non-profit which is already fairly charitable of you.

+1 to this.

I also work for a nonprofit (health sector) and do some volunteer work (animal welfare) instead of making dollar donations. I'd like to be more charitable to different causes, but I feel good about what I'm doing now and know I can donate more later in life.

[monstermonster]

Just to throw this out there, could you cut back the charity spending until you've got your stash sorted?
Seems like you already work a lower wage for a non-profit which is already fairly charitable of you.

+1 to this.

I also work for a nonprofit (health sector) and do some volunteer work (animal welfare) instead of making dollar donations. I'd like to be more charitable to different causes, but I feel good about what I'm doing now and know I can donate more later in life.

I work in fundraising, so it's important for me to "put my money where my mouth is" so to speak. I ask people for money all day, I've got to be willing to give it myself. I also have been helped by many local organizations when living in poverty, home insecure, hungry, or without medical insurance and now that I have this prodigious wealth (which I do. I make a 4x what I've made for most of my life) it's important for me. It's just a personal choice. I choose not to have a car and instead I give to organizations I volunteer for and which have impacted my life. Sorry, it's just non-negotiable for me personally. I get a higher utility value out of giving to charity regularly than I would saving that money.

[fb132]

According to MMM, he suggest saving a minimum of 50% of your income http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/, you are not far off. Your saving about 40%, you need to find a way to cut enough to hit at least 50...that is if you want to follow his advice. Now where to cut? You have a few expenditures that can be cut, beer/bars and restaurant are the most obvious, lower your chairty maybe. Now if you reply that you can't on either of those suggestions, then I am affraid if you want to hit the 50% mark, then there's nothing I can suggest you other than getting a higher paying job...and if you still say no, well then you will be stuck at 40% savings which isn't bad considering many people don't save anything, but at the sametime, this whole thread would be useless.

[monstermonster]

Now if you reply that you can't on either of those suggestions, then I am affraid if you want to hit the 50% mark, then there's nothing I can suggest you other than getting a higher paying job...and if you still say no, well then you will be stuck at 40% savings which isn't bad considering many people don't save anything, but at the sametime, this whole thread would be useless.

On the contrary this thread was very useful. Thanks to all of you lovely, smart mustachians,  this advice has convinced me to:

• To cut down on bar spending, and work with my SO to have the split we pay for booze be more reflective of our differential incomes
• To move over my USAA Roth to Vanguard immediately, not wait til I hit 10K
• Focus on getting my EF up first for the next 5 months until it's at a comfortable level for 3 months of living expenses before maxing out my Roth
• To recognize many people are chasing FI/RE because they hate their jobs, but I love mine, so the "urgency" expressed by many here might not be appropriate for me. Patience, keep spending low, and I'll get there eventually.

[fb132]

Now if you reply that you can't on either of those suggestions, then I am affraid if you want to hit the 50% mark, then there's nothing I can suggest you other than getting a higher paying job...and if you still say no, well then you will be stuck at 40% savings which isn't bad considering many people don't save anything, but at the sametime, this whole thread would be useless.

On the contrary this thread was very useful. Thanks to all of you lovely, smart mustachians,  this advice has convinced me to:

• To cut down on bar spending, and work with my SO to have the split we pay for booze be more reflective of our differential incomes
• To move over my USAA Roth to Vanguard immediately, not wait til I hit 10K
• Focus on getting my EF up first for the next 5 months until it's at a comfortable level for 3 months of living expenses before maxing out my Roth
• To recognize many people are chasing FI/RE because they hate their jobs, but I love mine, so the "urgency" expressed by many here might not be appropriate for me. Patience, keep spending low, and I'll get there eventually.

Good, it means you have listned to some of our suggestions and I agree with your choices. I too have similar expenses and a low paying job and I also don't mind saving about 50% of my income although I am sure I can get a higher paying job and bring my savings up to 75%, but by going up the ladder, I would hate my job alot and work very long hours which I do not want even if I would love to be FI asap, so I understand the fact you want to keep your job. Saving 40-50% of your income is not a bad thing. Keep up the good work.

[Hamster]

I also want to chime in that you are doing awesome, and are so far ahead of so many people at this point.

The only new thing I have to add is: Are you really working 70+ hour weeks? If so, then you are working WAY above median. Just something to think about when you consider how your income relates to median.

Since the best work experience of my life was uncompensated and done for charity, I won't criticize your devoting that much time to something you love as long as it is fulfilling and energizing.

[Valetta]

As a fellow fundraiser, I get the temptation or pressure to work 70+ hours per week. I've been there before and few people outside the field realize what a high pressure atmosphere it can be. I read an article once about this that totally changed my viewpoint on it. In general now I work about 45 hours per week.

I think it was an article by Penelope Burke but I'm not positive. She basically said that as a nonprofit fundraiser, you currently have the job that other people say they are going to do when they retire. Therefore it should be fun! She specifically said don't ever work more than 45 hours per week. You'll never get everything done anyway so just prioritize and do the best you can. I have followed her advice ever since, been much happier for it, and it certainly hasn't my earnings or advancement.

[Bracken_Joy]

Thank you for the summary of changes you've made (both goal-related and specific actions you've taken). Most threads don't have a conclusion, and you always wonder about people's take away. So thank you for the lovely wrap-up! I'm glad this all helped you.

[Cathy]

... But even more to my point "make more money" doesn't really align with the MMM "anyone can do this, stop complaining" if the median Income is lower than mine.

Anybody who says that it's just as easy to retire while earning $30,000 per year as it is to retire while earning $300,000 per year, is either math-challenged or is being disingenuous. That kind of silly claim is unusually common on this forum, meritless though it is, and its proponents are often people who are otherwise intelligent, so I think it is mostly the latter: disingenuity.

However, the preceding paragraph is not inconsistent with MMM's "anyone can do it" philosophy, because nothing stops you from earning $300,000 per year if you want to. You've just made a conscious choice to shave off one one of those zeros. The proposition that anybody can do it doesn't mean that you can do it just as easily while making choices that make early retirement difficult. For example, people who spend $500 per month on car-related expenses can probably retire eventually, but it will take them longer than somebody who spends $0 per month on car-related expenses. Anybody can retire, but the time it takes you to reach retirement is a function of the choices you make and whether those choices promote retirement.

Spending your early years in low-paying jobs is not conducive to extremely early retirement. That's just math and no amount of platitudes can override it. That doesn't mean it's the wrong choice for you, just like how somebody who buys a new car every month may be making a choice that is right for them, but neither of those is a choice that promotes extremely early retirement. So you just have to decide what you value most.

And by the way, the reason I use figures like $300,000 for these posts is not because I think you can just undergo a mindset change and suddenly start being paid $300,000 tomorrow. Obviously it's not that simple. But oftentimes people set arbitrary mental barriers about what level of pay is "realistic" for them -- whether that barrier is $40,000, $80,000, $100,000, $150,000, or whatever. So for literary value, I try to pick levels of pay that challenge people's perception of what is "reasonable". If you can't reach $300,000 per year, that's all right too, but don't assume that you can't reach it, because you may be able to.

[Guizmo]

Maybe real estate investing might be something you can get into that doesn't take much time.

I work in education and have always made less than $45k. But because I saved a ton, lived with my parents and was super frugal I was able to buy a condo that I rent out and then another houses. It was a big driver in me reaching 100k net worth before I turned 26. It has also increased my income by about 5k after expenses/taxes.

[Seppia]

Great post Cathy, I completely agree with you.
Maybe I would just consider making $300k more difficult than you paint it to be but in general all your points are great.
I think a lot of the "it can be done!" might come from smart, wealthier people that just want to be positive and supportive.
Because of course it can be done, it's just significantly harder.
If I made $500k instead of my much much smaller salary I could triple the amount of scuba diving I do and still save 75%+
Now I allow myself one scuba diving week per year (it's expensive, but it's by FAR my favorite hobby and hopefully my "retirement job" when I will be FI), and because I live in NYC I struggle to save 50%.
Could I be FI earlier if I skipped the diving? Sure, but since the point is to be happy I see it as a better balance to be FI later and do my diving.
Similarly, the OP considers staying in his line of work the most important thing, which is awesome by the way.
It will have an effect on how quickly he/she can be FI but who cares?

[monstermonster]

She basically said that as a nonprofit fundraiser, you currently have the job that other people say they are going to do when they retire. Therefore it should be fun! She specifically said don't ever work more than 45 hours per week. You'll never get everything done anyway so just prioritize and do the best you can. I have followed her advice ever since, been much happier for it, and it certainly hasn't my earnings or advancement.

Oh man. That is kinda mind-blowing. I keep telling myself "after this campaign I'll get an staff member/work less". And then there's an event, or an appeal, or we lose another staffer and I have 3 grants and 400 thank you's and 8 donor meetings to do in a week. Usually when people tell me they're going to "go into nonprofit work" when they retire, I do something kinda like this. https://billyonce.files.wordpress.com/2015/03/let-me-stop-you.gif '

I once sat next to someone on a plane who worked at Microsoft as a senior engineer and she said she was thinking of moving to nonprofits because she "thought they would have better work/life balance", and I tried not to fall out of my seat laughing.

[Avidconsumer]

She basically said that as a nonprofit fundraiser, you currently have the job that other people say they are going to do when they retire. Therefore it should be fun! She specifically said don't ever work more than 45 hours per week. You'll never get everything done anyway so just prioritize and do the best you can. I have followed her advice ever since, been much happier for it, and it certainly hasn't my earnings or advancement.

Oh man. That is kinda mind-blowing. I keep telling myself "after this campaign I'll get an staff member/work less". And then there's an event, or an appeal, or we lose another staffer and I have 3 grants and 400 thank you's and 8 donor meetings to do in a week. Usually when people tell me they're going to "go into nonprofit work" when they retire, I do something kinda like this. https://billyonce.files.wordpress.com/2015/03/let-me-stop-you.gif '

I once sat next to someone on a plane who worked at Microsoft as a senior engineer and she said she was thinking of moving to nonprofits because she "thought they would have better work/life balance", and I tried not to fall out of my seat laughing.

Your budget is fine. Income is abysmal. Grossing less than 11$/hr with a degree is economics. You're comparing apples to pears. Compare yourself to someone with a degree in economics and you are in the lowest quartile given the hours you work.

[Lucky Girl]

She basically said that as a nonprofit fundraiser, you currently have the job that other people say they are going to do when they retire. Therefore it should be fun! She specifically said don't ever work more than 45 hours per week. You'll never get everything done anyway so just prioritize and do the best you can. I have followed her advice ever since, been much happier for it, and it certainly hasn't my earnings or advancement.

Oh man. That is kinda mind-blowing. I keep telling myself "after this campaign I'll get an staff member/work less". And then there's an event, or an appeal, or we lose another staffer and I have 3 grants and 400 thank you's and 8 donor meetings to do in a week. Usually when people tell me they're going to "go into nonprofit work" when they retire, I do something kinda like this. https://billyonce.files.wordpress.com/2015/03/let-me-stop-you.gif '

I once sat next to someone on a plane who worked at Microsoft as a senior engineer and she said she was thinking of moving to nonprofits because she "thought they would have better work/life balance", and I tried not to fall out of my seat laughing.

As a 37 year old who has been in non-profit fundraising for over 10 years, this whole thread has been entertaining. 

MonsterMonster, you obviously came from a tough background and I admire both your drive and commitment.  When I worked directly in a non-profit helping kids come out of poverty was very rewarding.  I hope you are able to keep at it, but remember that there is more than one way to give back.  Burning yourself out, and cheating yourself of the opportunities you've been given, is not necessarily productive.  Non-profits have a way a making their employees feel as though they owe it to the world to never make competitive salaries.

After 9 years of being made to feel that way, and getting burned out by never being able to get ahead, never working hard enough, and more than one extra crazy coworker, I moved into an agency.  Now I make six figures, save a ton, and know that when I stop working I can go back to direct non-profit work if I want and again get that feeling of really making a difference.  And be financially set, so that no emergency will ever put me or my family at risk of poverty.

[monstermonster]

After 9 years of being made to feel that way, and getting burned out by never being able to get ahead, never working hard enough, and more than one extra crazy coworker, I moved into an agency.  Now I make six figures, save a ton, and know that when I stop working I can go back to direct non-profit work if I want and again get that feeling of really making a difference.  And be financially set, so that no emergency will ever put me or my family at risk of poverty.

I enjoyed seeing someone who "went over the fence" post. Nonprofit people are trapped in our idealogy, for-profit folks often just don't even get it.

I'm genuinely curious what you do, though- what do you mean by "agency"? I often worry my (diverse and developed) skills are never mappable outside my sector. I know how to raise money, write grants, do data segmentation, pass laws, talk about our mission. I don't even know (other than sales) what that looks like outside the nonprofit sector.

[robartsd]

On the contrary this thread was very useful. Thanks to all of you lovely, smart mustachians,  this advice has convinced me to...

Love the attitude!

Charitable donation - while I respect the need to put your money where your mouth is - I also have non-negotiable charitable donations, you might consider putting not quite as much money there. You could even link increasing this donation as your personal savings grows such that the earnings of your investments outpaces the decrease in the ammount of your earned income you are investing.

Housing - this cost seems like it could be reduced some (especially with the description of the number of micro-breweries within walking distance - sounds pretty trendy/expensive). If you live there with your SO, is it his income that is driving this choice as well - a point you may want to investigate with him along with the bar tab. If you haven't moved in together, what keeps you from lowering this cost?

I hope you heed the advice to get a better work/life balance for yourself. After cutting back your work for your main gig to 40-45 hrs/week and recouperating you might revisit the side-hussle idea. I really appreciate the push back you've given to the people who keep beating the increase income drum; while it is an option, it's not always the best option. The simple math of early retirement shows that going from a 40% savings rate to a 50% savings rate only speeds FIRE by about 5 years.

[monstermonster]

Housing - this cost seems like it could be reduced some (especially with the description of the number of micro-breweries within walking distance - sounds pretty trendy/expensive). If you live there with your SO, is it his income that is driving this choice as well - a point you may want to investigate with him along with the bar tab. If you haven't moved in together, what keeps you from lowering this cost?

Actually, I pay in incredibly good rent for this town sadly - despite it being twice what I paid a four years ago. There's no rent control here and we have the tightest rental market in the country, so my rent has been jumping $75/100-year. I live with a roommate - the neighborhood is great but my apartment actually one of the cheapest places  you can get in the city :( My SO lives two blocks away and pays $300/month more for a studio by himself than what my roomie and I pay for a (pretty crappy, slightly moldy, but functional) 2 bedroom. He's paying average market rate now. I now make too much for low-income housing so I don't qualify for a subsidized place any more.
Honestly, I'd rather be paying a little more and not live somewhere moldy where I have to haul my heavy bike up the stairs, but if I moved to any other apartment I'd be paying 50% of my income in rent. Damn this town.

Regarding moving in with the SO: we have different housing preferences and such differential incomes, at the moment combining housing doesn't make a lot of sense.

[robartsd]

One more point I forgot earlier - why are you using a Roth? A traditional IRA is much more useful if your plan is to keep expenses low for FIRE. A Roth only makes sense if your tax rate in retirement is higher than your tax rate when you contribute - true for 1) people with no current income tax liabilty, or 2) young people who don't make much now but expect to earn high incomes in the future to fund fancypants retirements. Roth does have one advantage in that contributions are availible any time (once the account has been open for 5 years). You might want to keep building up the Roth until the contributions are enough to qualify as your emergency fund - then switch to funding tax deffered accounts. Once your Roth contributions are availible for penalty free withdraw, draw down your taxable emergency fund to help you contribute more to tax advantaged funds.