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re: What percentage of people in BR have a "keeping up with the Jones" lifestyle?
Posted on 4/2/15 at 4:18 pm to Cold Cous Cous
Posted on 4/2/15 at 4:18 pm to Cold Cous Cous
quote:
Right, it must be women buying all those decked out F-250s and 25' bay boats I see all around BR.
a haven't seen any boat in BR besides the riverboat casinos, tugboats.
0
Posted on 4/2/15 at 4:34 pm to Golfer
quote:
Household income of $120k can easily support a $300k house, and two modest car notes.
I doubt it. How much are you taking home each month after taxes, health care, 401k?
300k house with 20% down payment would be a mortgage of 240K. At 4%, 15yrs, the monthly payment would be around 2400 including taxes and insurance. Car notes...let's say 300 each so That's 3K alone. This is before counting other expenses like food, utility, phone, car insurance, cable, kids education.
Posted on 4/2/15 at 4:45 pm to PeteRose
30 year morrgage would be more like $1600. That's certainly affordable to a couple making 125 per year. Maybe even 100k per year could support that.
Posted on 4/2/15 at 4:52 pm to Paul Allen
$125 take home is about $8000 after 401k and healthcare.
$300k note is about $1600/mo. Plus $400 a car leaves you with $5600/mo
That's a ton.
ETA: wtf are you doing putting 20% down on a house with rates around 3.7% for 30 years?
$300k note is about $1600/mo. Plus $400 a car leaves you with $5600/mo
That's a ton.
ETA: wtf are you doing putting 20% down on a house with rates around 3.7% for 30 years?
This post was edited on 4/2/15 at 4:55 pm
Posted on 4/2/15 at 5:10 pm to Golfer
quote:
$125 take home is about $8000 after 401k and healthcare.
And what % of Baton Rouge population is making $165k+ a year?
This post was edited on 4/2/15 at 5:11 pm
Posted on 4/2/15 at 5:10 pm to Golfer
quote:125k take home and 125k income are much different. Income is usually considered gross unless otherwise stated.
$125 take home is about $8000 after 401k and healthcare.
Posted on 4/2/15 at 5:11 pm to PeteRose
Not as much as laff.
Posted on 4/2/15 at 5:23 pm to Golfer
quote:
ETA: wtf are you doing putting 20% down on a house with rates around 3.7% for 30 years?
I assume avoiding PMI.
Of course, you could always take a slightly higher but still ridiculously low rate and get lender paid PMI.
Posted on 4/2/15 at 5:40 pm to RadTiger
quote:
And what % of Baton Rouge population is making $165k+ a year?
That meant to say $125k: take home is about $8000 after taxes, 401k contributions, and healthcare.
But $125 gross isn't some crazy number in BR...that's a staff engineer and a nurse.
Posted on 4/2/15 at 5:53 pm to Golfer
quote:
But $125 gross isn't some crazy number in BR...that's a staff engineer and a nurse.
that's around 90th percentile.
Posted on 4/2/15 at 6:07 pm to Golfer
I make not too far under 125 and I don't take home near 8k/month. Also, my healthcare isn't taken out of my paycheck.
They'd take home more like 7k/month unless I'm getting completely fricked.
I take home about 68-69% of my gross
They'd take home more like 7k/month unless I'm getting completely fricked.
I take home about 68-69% of my gross
Posted on 4/2/15 at 6:21 pm to thatguy777
I'll probably make near that mark this year. I take home a little more than 50% after taxes, 401k, insurance, ESPP(savings), etc.. We could get by with a 300k house, two decent car notes, wife's student loans, and a baby. It was just enough, but hell, I was putting 25% of my pay in retirement and savings, so ending up with nothing at the end wasn't really living paycheck to paycheck. And we have 9-12 months emergency fund. My wife just went back to work, so we will be able to start tearing into those loans even deeper and get some relief from a family insurance plan.
I do think too many people buy the 300k house only making 75k, but I think it can be handled at the 125k mark.
I do think too many people buy the 300k house only making 75k, but I think it can be handled at the 125k mark.
Posted on 4/2/15 at 11:15 pm to Golfer
quote:
Household income of $120k can easily support a $300k house, and two modest car notes.
Correct. If you are smart you should be able to afford a million dollar home by the time you're 40. Its not that big of a deal.
Posted on 4/3/15 at 1:10 am to PeteRose
quote:
But $125 gross isn't some crazy number in BR...that's a staff engineer and a nurse.
that's around 90th percentile
quote:
PeteRose
You suck at life. 100-150k makes up a large % of American middle class household income. Get off your pat yourself on the back mentality for paying off your student loan and realize that somebody that makes that income for 10-20 Years it's quite a real and reasonable idea to pay for a $300k home and a couple of reasonable car notes.
This post was edited on 4/3/15 at 1:19 am
Posted on 4/3/15 at 5:09 am to LSUAfro
Seriously? I haven't had a boss in a year and a half. And probably not the rest of my life. I don't have a job title. Unless you count "semi retired" as a title. I've managed to purchase rental properties when I was younger. As they appreciated through the years, so have their rental incomes. They will be all paid of in the next 7 years. Here's the beauty of it. Depreciation allows me not to pay a dime of taxes.
Now, at age 35 I have all the time in the world. Unless, I'm up at night watching shows or browsing the internet, I sleep when people are trying to beat the traffic at 8am. I get my excercise jog at noon, eat lunch at my my own pace. At 5pm when people are hustling to get home, I'm watching Seinfeld on the sofa.
I got so much free time the last year and a half that I improved my cooking, started doing charity work, and started a vegetable garden. Life is simple and easy and I'd like to keep it that way.
Now, at age 35 I have all the time in the world. Unless, I'm up at night watching shows or browsing the internet, I sleep when people are trying to beat the traffic at 8am. I get my excercise jog at noon, eat lunch at my my own pace. At 5pm when people are hustling to get home, I'm watching Seinfeld on the sofa.
I got so much free time the last year and a half that I improved my cooking, started doing charity work, and started a vegetable garden. Life is simple and easy and I'd like to keep it that way.
Posted on 4/3/15 at 7:24 am to PeteRose
Sounds great. Quit judging and worrying about everybody else. Stop assuming everybody dug a debt hole to get nice things. You never know how they got there.
I live in a neighborhood full of the 100-200k family incomes I'm sure, and some have rich parents, some are 50-60, and some just made and managed Money well enough to buy nice things at an early age.
If you choose to be frugal, good for you, but no need to judge those that aren't but still live in their means.
Life's not promised for tomorrow. Never hear a 40 year old dying of cancer say he was glad he waited 10 years to buy that boat he could have afforded 10 years ago, or he skipped a trip to Disney world with his 5 year old so he could Max out his 401k for the second straight year.
I live in a neighborhood full of the 100-200k family incomes I'm sure, and some have rich parents, some are 50-60, and some just made and managed Money well enough to buy nice things at an early age.
If you choose to be frugal, good for you, but no need to judge those that aren't but still live in their means.
Life's not promised for tomorrow. Never hear a 40 year old dying of cancer say he was glad he waited 10 years to buy that boat he could have afforded 10 years ago, or he skipped a trip to Disney world with his 5 year old so he could Max out his 401k for the second straight year.
Posted on 4/3/15 at 7:32 am to LSUAfro
first you said I suck at life. Now you're accusing me of "judging" people?
you must like antagonizing people.
you must like antagonizing people.
Posted on 4/3/15 at 7:36 am to PeteRose
Yes, I said you suck at life because I was drunk and that was the way I found to articulate myself apparently when I was reading your responses in this thread.
Posted on 4/3/15 at 7:46 am to Golfer
(no message)
This post was edited on 4/27/15 at 4:42 pm
Posted on 4/3/15 at 7:48 am to LSUAfro
so that was the beer scolding me?
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