Living On $60K A Year In NYC | Millennial Money
1,342,595
Publicado 2019-03-13
Read more about Fallon's budget breakdown here: cnb.cx/2UB6dDA
Introducing Millennial Money, our new interview series profiling millennials in different cities and at different income levels on how they make, spend and save their money.
Fallon Schwurack tried to quit dancing. She went to college and earned a degree in biology. She worked in a lab for a few years and had plans to go back to school to become a medical examiner. But then a friend asked her to dance in a show as a favor.
She accepted — and fell back in love with with dancing.
Schwurack first learned to dance when she was just three years old and, after graduating from high school in Salt Lake City, she spent a year dancing professionally for a local ballet company. After getting pulled back onstage, she started going to auditions and landing parts in local performances around Salt Lake. Realizing she wanted to pursue dance full-time, she abandoned her plan to go back to school.
So, in 2016, one day before her 30th birthday, Schwurack moved to New York City to try and dance professionally. She works as a restaurant server to make ends meet.
Now 32, she's still building her career but, she says, she's able to live "very, very comfortably" on what she makes, and "getting to be able to dance every day is one of the best feelings I've ever had."
Although dance is Schwurack's passion, she acknowledges that "it's really hard, actually being a dancer in New York City."
For one thing, the competition is fierce: "When I go to an audition, open calls usually have around 300 girls there at least."
And when Schwurack does land a job, it's both short-term and means taking a pay cut. "You live the poor actor life unless you have certain side jobs that make the money because a lot of the contracts aren't very lasting," she says.
"Even if you get on Broadway they can last for a month or two, maybe up to six months. There's a few shows that are running for years, but things change and you might leave a show even if it doesn't close."
Most of Schwurack's contracts have lasted around two months and paid between $350 and $500 per week. Because she's a non-equity dancer, her rates are lower. Equity dancers earn closer to $900 per week or more, she says.
When she's not dancing, Schwurack works at the restaurant Tony's Di Napoli, where she earns around $60,000 a year.
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Living On $60K A Year In NYC | Millennial Money
Todos los comentarios (21)
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What’s your budget breakdown? Share your story with us for a chance to be featured in a future installment. cnb.cx/32TYZ2K
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Key points are: 1. ROCKING the MetroCard 2. Not drinking alcohol excessively in NYC bars 3. She doesn't seem to be addicted to High Fashion 4. No high student loan payment 5. Overall GREAT ATTITUDE
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She is happy, satisfied with life and balancing between work and hobbies. I see this as a win.
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There was a very distinct lack of student loans in that budget
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“I have 30 years to get a retirement fund” is dangerous thinking. Hopefully she doesn’t wait 30 years to start saving!
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Ha! I went to New York for the first time 5 years ago and I've been trying to remember the great Italian restaurant my fiance and I had dinner. THIS WAS THE PLACE! THANK YOU CNBC!!! 5 years of searching! Now I can finally go back there this summer! Oh and thank you Fallon for making the video. I'll be sure to tip well if I see you!
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She has two roommates that’s the only way you can live in NYC and have some money left.
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She's living not existing and it's in New York you go girl
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I love how she sees the positives and sacrifices for her passion
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60k for waitressing? New York here I come!
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She is Happy :-) One less mean person in the world!!!!
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She's a very positive woman. Good luck to her. Here in San Francisco, an income of $75K or less is considered poverty level. $200K is considered middleclass. It's crazy.
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she buys egg by the carton as compared to what??? individually?
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Fallon! How crazy I just stumbled upon this video! We used to work together in SLC! look at you! Glad to see you so happy!!!
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My mother was a full time waitress for over 15 years and made really good tips everyday BUT then a reality check hit her as she got older. She went back to school part time and became a nurse which gave her a better income, benefits and a retirement plan. I can tell you from experience that old age speeds up as time goes on.
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I was very impressed until she said she had no Retirement fund 😱😱. Better hurry up girl! You are doing everything else right... GL
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Pro tip: Take $5000 from your savings and put it in a Roth IRA. Make monthly small ($25 - $50) automatic contributions to waive any fees.
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I hope she's doing okay this pandemic
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She is literally living with 2 roommates and almost living paycheck to paycheck. Seems to me $60k is basically minimum to just survive with no family and no retirement plan.
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I love how $60k is being treated like a low amount of money, jeezzz
