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Posted on 7/28/13 at 2:11 pm to trident
quote:
100k should easily make you feel comfortable. You can afford a nice house, car and send your kids to private schools. Of course more money would be great but 100K should be enough to live happy
Where I live you couldn't afford land to put a trailer on, & you wouldn't even be making the median salary at 100k. The OP should read "Perfect Annual Salary For Where You Live"
For where I live, $350k -$400k would be perfect. Hell 200k/yr doesn't mean you can disregard budgeting, especially factoring in a rug rat or two, not to mention should you want to retire one day.
Posted on 7/28/13 at 2:14 pm to ItNeverRains
quote:
Hell 200k/yr doesn't mean you can disregard budgeting
You can never disregard budgeting. People who do not budget can end up in Chapter 7 or 11 with 8 figure incomes.
Fact.
This post was edited on 7/28/13 at 2:15 pm
Posted on 7/28/13 at 2:48 pm to Ace Midnight
Man, well I'm never going to be MTB comfortable... The dollars being thrown around to be comfortable are way more than I need to live a perfectly happy existence.
Just sayin
Just sayin
Posted on 7/28/13 at 3:06 pm to Lsut81
quote:
Man, well I'm never going to be MTB comfortable... The dollars being thrown around to be comfortable are way more than I need to live a perfectly happy existence.
I feel the same way. This board is vindictive and deceitful.
Posted on 7/28/13 at 3:06 pm to Lsut81
quote:
The dollars being thrown around to be comfortable are way more than I need to live a perfectly happy existence.
You'd think that. When I was making $30k, I thought $50k would be all I'd need. Then at $50k, I thought $70k or $80k would do it. I will crack $100k this year - I'm not saying I'm starving - but I'm still not maxed out on savings, I'm still not completely out of debt, and we are on a fairly tight budget. As your income grows your "minimum" lifestyle grows and no amount of "Millionaire Next Door" stuff can completely eliminate that.
The good news is - my kids are grown and the sky is the limit for my final 25 to 30 years of work.
Posted on 7/28/13 at 3:07 pm to Lsut81
Your expenses grow as you age.
If I were making the kind of money I make today in 2007, I'd have felt rich.
Then I got married, bought a house, and started putting 16% of my gross into retirement savings......not as much left over as I'd like for clothes or fancy furniture.
Luckily I am satisfied with having the only house in the neighborhood without a pool, rennovated kitchen, or zoysia sodded lawn, and I'm content driving a reliable 7 year old Chevy truck that's well out of style and high on the miles. Ashley furniture and hand me downs are more than okay for now.
It would be so easy falling even deeper into the trap like many my age. I would like to knock out my student loans completely by Christmas 2015 (which should happen). Other than that all I have is a $200 car note for my wife's stripped down Accord and my mortgage.
God help you if you have a child that needs daycare. What some of my co workers are paying is scary. $700-$1000 per month.
If I were making the kind of money I make today in 2007, I'd have felt rich.
Then I got married, bought a house, and started putting 16% of my gross into retirement savings......not as much left over as I'd like for clothes or fancy furniture.
Luckily I am satisfied with having the only house in the neighborhood without a pool, rennovated kitchen, or zoysia sodded lawn, and I'm content driving a reliable 7 year old Chevy truck that's well out of style and high on the miles. Ashley furniture and hand me downs are more than okay for now.
It would be so easy falling even deeper into the trap like many my age. I would like to knock out my student loans completely by Christmas 2015 (which should happen). Other than that all I have is a $200 car note for my wife's stripped down Accord and my mortgage.
God help you if you have a child that needs daycare. What some of my co workers are paying is scary. $700-$1000 per month.
This post was edited on 7/31/13 at 4:44 pm
Posted on 7/28/13 at 3:11 pm to Ace Midnight
quote:
I'm not saying I'm starving - but I'm still not maxed out on savings, I'm still not completely out of debt, and we are on a fairly tight budget.
Maybe that is the reason all of those numbers seem so outrageous to me... The only debt I have is a mortgage and a small student loan.
Posted on 7/28/13 at 3:12 pm to Lsut81
quote:
Maybe that is the reason all of those numbers seem so outrageous to me... The only debt I have is a mortgage and a small student loan.
I'm carrying $8k auto loan, $102k balance on the mortgage and $136k of student loans.
Does that help explain it?
Posted on 7/28/13 at 3:13 pm to Ace Midnight
quote:
$102k balance on the mortgage
Not bad
quote:
$136k of student loans
Well puke on my dick
Couldn't imagine having that much
Posted on 7/28/13 at 3:30 pm to Lsut81
For me now with kids 3 to 400k when kids are gone 200k.
Posted on 7/28/13 at 3:34 pm to Lsut81
Depends on how that income is derived. (earned v. capital gains) And if you are saving out of it. Also if you want early retirement. I used to think 500k would do it, but not so. Now that I make a lot more than that, still not satisfied. 
Problem is that your taste and desires go up with the income. And everybody is different.
I'm gonna say 2 million would be perfect. But, I'd always take MORE!!!
I don't think people realize the bite taxes take outta your arse at this income level. If I coulda kept the 400k or so I paid in taxes last yr, I'd be a hell of a lot happier with my current income.
Problem is that your taste and desires go up with the income. And everybody is different. I'm gonna say 2 million would be perfect. But, I'd always take MORE!!!
I don't think people realize the bite taxes take outta your arse at this income level. If I coulda kept the 400k or so I paid in taxes last yr, I'd be a hell of a lot happier with my current income.
This post was edited on 7/28/13 at 3:36 pm
Posted on 7/28/13 at 3:45 pm to ItNeverRains
quote:
Where I live you couldn't afford land to put a trailer on, & you wouldn't even be making the median salary at 100k. The OP should read "Perfect Annual Salary For Where You Live"
Read an article in WSJ last week. Woman sold her condo in NYC. It was 700 sf. One bedroom, one bath. Price ... 900K.
Posted on 7/28/13 at 3:58 pm to Paul Allen
quote:
I feel the same way. This board is vindictive and deceitful.
Posted on 7/28/13 at 4:03 pm to SmackoverHawg
quote:
Problem is that your taste and desires go up with the income. And everybody is different.
Some of us didn't engage in massive spending creep over the years, guess it is whatever is important to make one happy. I do know that saving/investing early makes a huge difference for early retirement aspirations. Then again, I doubt many in the top 15% of income would be able to ER if they could only do so spending $200-300k a year.
Make $300k, save $125k, it ain't like it's hard.
Posted on 7/28/13 at 4:26 pm to Lsut81
quote:
Man, well I'm never going to be MTB comfortable... The dollars being thrown around to be comfortable are way more than I need to live a perfectly happy existence.
Question was perfect salary and not happy. I'd be happy with a lot less. But I want my own King Air with a pilot.
I'm happy without one and have everything else I want. Except to be retired. Which I will be in 5 yrs if I don't get my plane. 
We were happy and content at 200k. Everything else is gravy.
Posted on 7/28/13 at 4:33 pm to Lsut81
It is different for every person, in my current situation I would be fine with as little as 40K, but bring my wife into the picture and I need at least triple that. Most people will find ways to spend more as their income increases, even at 500K a year those that maintain a modest standard of living and bank the rest are probably outliers. I worked at a bank for a short time when I was young, and was surprised to learn that many of the people that had a lot of money coming in, and looked pretty well off had very little in the asset column,and this was in the back when everybody did all their investing an financial activity through the local bank.
Posted on 7/28/13 at 5:27 pm to EA6B
This thread is what is wrong with this country. This is why no one works in the fields and everyone wants white collared jobs. If you can't make it on 2 public school teachers salaries then.... You got to much shite
Posted on 7/28/13 at 5:33 pm to trident
quote:
If you can't make it on 2 public school teachers salaries then.... You got to much shite
No. The problem is people won't live within their means. They want all the toys and luxuries, but don't want to earn it. We lived well within our means while in school and every since. I would have even if my income was much lower. I hate debt.
Posted on 7/28/13 at 5:44 pm to EA6B
quote:
It is different for every person, in my current situation I would be fine with as little as 40K, but bring my wife into the picture and I need at least triple that.
This. Women have a compulsion to spend money for no other reason than the joy of buying stuff. My brother, the psychologist, explained it all to me a long time ago.
He said "Consumption is female based. The economy cannot grow without consumption. They buy shite for no reason but it helps the economy."
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