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re: Do you know anyone who makes over 100k and work 40 or less hours? With stat link
Posted on 8/18/15 at 12:00 pm to lynxcat
Posted on 8/18/15 at 12:00 pm to lynxcat
quote:
$5,000 to food
$400 a month for food living in NYC? What planet do you live on? No offense, but your numbers are way out of whack.
1
Posted on 8/18/15 at 12:12 pm to VABuckeye
Are people actually claiming that 100k is not a very good lifestyle in any city for a young, single male?
Run the numbers however you want and it is plenty of cash to do whatever you want.
100K gross. I ran it through an income tax calculator for living in NYC and it gave $63,000 take home pay.
So, let's walk through it:
5k to 401k
5k to other benefits (health, dental, etc)
30k to rent
10k to food
5k to transportation
--------
That gets us to 55k leaving 8k for whatever else happens during the year. This assumes the person saves $5k annually and spends $800 a month on food and lives by himself for $2500/month.
If someone cannot manage a budget making that much, then they have limited personal finance skills.
Run the numbers however you want and it is plenty of cash to do whatever you want.
100K gross. I ran it through an income tax calculator for living in NYC and it gave $63,000 take home pay.
So, let's walk through it:
5k to 401k
5k to other benefits (health, dental, etc)
30k to rent
10k to food
5k to transportation
--------
That gets us to 55k leaving 8k for whatever else happens during the year. This assumes the person saves $5k annually and spends $800 a month on food and lives by himself for $2500/month.
If someone cannot manage a budget making that much, then they have limited personal finance skills.
This post was edited on 8/18/15 at 12:14 pm
Posted on 8/18/15 at 12:14 pm to Rust Cohle
quote:
Do you know anyone who makes over 100k and work 40 or less hours? With stat link
I know a few actuaries that make well over 100k and only work 40hrs a week.
Posted on 8/18/15 at 12:27 pm to lynxcat
I'm not saying someone can't do it. Plenty of people do it with less. 
I just prefer to do it with more.
I just prefer to do it with more.
Posted on 8/18/15 at 2:06 pm to PeteRose
quote:
I think people who talks about how much they make without anyone asking is pretty insecure. Even if they make what they claim, why are they telling you this? Because it's the only way to get validation as person and to gain status. It gets old and boring.
I think there is a difference between boasting about how much you make and discussing it. I have only discussed it with good friends, when discussing careers, income, retirement, savings, home ownership, etc. I get asked a lot about financial topics from my friends and family, and usually the conversation stems from there. How can I give savings advice when I have no idea how much debt, income, savings a person has?
I think honest discussions about money are a good thing, especially with friends and family. Especially family, family has some sort of obligation towards each other when it comes to finance.
its only been a problem with one person. And that guy was going to find out, b.c I invested in his company and had to become a Accredited investor to do so.
Posted on 8/18/15 at 2:54 pm to Rust Cohle
My dad does. I'm halfway there at age 27.
Posted on 8/18/15 at 3:14 pm to Rust Cohle
8 of the 13 people in my department make it in 40 hours. I would assume this is pretty common in Engineering though.
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