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Started By
Message
re: Perfect Annual Salary?
Posted on 7/30/13 at 10:40 am to ell_13
Posted on 7/30/13 at 10:40 am to ell_13
quote:
But if you want nice/new things: houses, cars, decent ins. coverage, it adds up like a bitch.
Yeah, but my consideration of nice things is a lot different than other peoples. I don't make close to 100k, but I think I live pretty comfortably and have nice things.
1
Posted on 7/30/13 at 10:47 am to ell_13
quote:
I saw your wife drives an '06 cherokee. This would be for a nice/new car worth 40k. But we're starting to split hairs now.
well I drive a 60k truck so they kinda average out
Posted on 7/30/13 at 10:48 am to yellowfin
quote:
well I drive a 60k truck so they kinda average out
Please tell me you have nuts hanging off of the hitch
Posted on 7/30/13 at 10:50 am to Lsut81
Right out of college my wife (fiance at the time) and I were making teacher salaries. Neither of us had car notes, and I had some student debt. We got a starter home and two new cars and were still able to max out our roth IRAs for 2 years. Do not ask me how we did it. But we were comfortable.
Now, I make almost triple that. We got an HD tv and dvr, high speed internet, 2 dogs, new furniture, kid on the way, etc. Home insurance went up 50% this year, we're both over 26 and paying our own health insurance now. We're putting about 12% in a 401k. And there goes all my monies.
Now, I make almost triple that. We got an HD tv and dvr, high speed internet, 2 dogs, new furniture, kid on the way, etc. Home insurance went up 50% this year, we're both over 26 and paying our own health insurance now. We're putting about 12% in a 401k. And there goes all my monies.
This post was edited on 7/30/13 at 11:00 am
Posted on 7/30/13 at 10:50 am to yellowfin
quote:
well I drive a 60k truck so they kinda average out
Yeah, they do.
Posted on 7/30/13 at 10:58 am to ell_13
$100k gets you by but you are by no means able to spend without consideration. I make a bit more than that and with bills, tuition and savings there is not a whole lot left over.
$250k is my number and I hope to be there within 2 years.
$250k is my number and I hope to be there within 2 years.
This post was edited on 7/30/13 at 11:04 am
Posted on 7/30/13 at 11:02 am to Lsut81
quote:
Please tell me you have nuts hanging off of the hitch
I wish
Posted on 7/30/13 at 11:02 am to Lsut81
enjoyed reading yall's responses. i really think its different for everyone depending on your location and how you choose to live life. i feel i am scraping by right now with my wife and i having about 160K combined income (majority me). But we have additional expenses we shouldn't.
she sometimes wonders how i am not saving money, but she doesn't understand exactly all the expenses i take on for our lives. including but not limited too:
- house note and property taxes(house is for sale, or i'm going to rent)
- rent for condo where we live for now
- bills for both locations
- insurance for both locations
- my car note
- insurance for both our cars,
- taxes
- any time we eat out, go to grocery, or have to pay for our two dogs supplies or pet visits.
- put away 12-15K a year in stock (not a loss, but i don't have it to live on)
- then you throw in miscellaneous cost like weddings, birthdays, anniversaries, additional entertainment.
she pays on her student loans and car note.
if i could sell or rent my house it would take 20-25K off my shoulders alone.
i believe we could live the life we want around 200-250K combined in South Louisiana.
she is currently a resident doctor. once she finishes i believe we will clear that mark easy, however i am hoping she will back down to part time down the road.
she sometimes wonders how i am not saving money, but she doesn't understand exactly all the expenses i take on for our lives. including but not limited too:
- house note and property taxes(house is for sale, or i'm going to rent)
- rent for condo where we live for now
- bills for both locations
- insurance for both locations
- my car note
- insurance for both our cars,
- taxes
- any time we eat out, go to grocery, or have to pay for our two dogs supplies or pet visits.
- put away 12-15K a year in stock (not a loss, but i don't have it to live on)
- then you throw in miscellaneous cost like weddings, birthdays, anniversaries, additional entertainment.
she pays on her student loans and car note.
if i could sell or rent my house it would take 20-25K off my shoulders alone.
i believe we could live the life we want around 200-250K combined in South Louisiana.
she is currently a resident doctor. once she finishes i believe we will clear that mark easy, however i am hoping she will back down to part time down the road.
This post was edited on 7/30/13 at 11:03 am
Posted on 7/30/13 at 11:02 am to Janky
quote:
I make a bit more than that and with bills, tuition and savings there is not a whole lot left over.
Well you are playing golf like 4 days a week...
Posted on 7/30/13 at 11:04 am to Golfer
quote:
Well you are playing golf like 4 days a week...
. You sound like my wife.
Posted on 7/30/13 at 12:40 pm to Janky
quote:
$100k gets you by but you are by no means able to spend without consideration.
Getting by and being able to spend with no consideration are 2 opposite ends of the spectrum.
People "getting by" don't have kids in private schools or max out their retirement accounts.
Posted on 7/30/13 at 12:43 pm to rintintin
It's all relative.
Posted on 7/30/13 at 12:45 pm to rintintin
quote:
People "getting by" don't have kids in private schools or max out their retirement accounts.
depends
Posted on 7/30/13 at 12:52 pm to Janky
Yeah, my sil and bil just get by. No thought to retirement what so ever.
It's funny, just bought an Acura and they are in deep debt. Crazy
It's funny, just bought an Acura and they are in deep debt. Crazy
Posted on 7/30/13 at 12:52 pm to Janky
quote:
depends
11 pages and this is the answer.
Posted on 7/30/13 at 1:05 pm to wegotdatwood
quote:
Yeah, my sil and bil just get by. No thought to retirement what so ever.
That 40th birthday is usually a wakeup call - it was for me.
At that point, productive people have been working 20+ years. Many (f*ck it, most) have zilch saved for retirement - or, perhaps a rounding error above $0.00. Then, reality starts to set it realistically - 25 to 30 years of work left, less if a manual laborer.
How much money will I need? How long will I live? What lifestyle do I want to pursue? Can I live on 1/3 or 1/2 of what I'm making right now, in real dollars?
Then they realize they didn't utilize the power of compound interest to already be independently wealthy (or certainly set up for early retirement) and those lost 20+ years CANNOT be recovered.
They start to counsel their children and other young people to not repeat their mistakes (which they will do, anyway). Rinse, repeat.
Posted on 7/30/13 at 1:20 pm to southernelite
quote:
100k and 30 and single and you don't feel well off? jesus man.
yeah no shite. This guy is impossible to please.
Thats a lot of cheese for a single 30 year old.
Posted on 7/30/13 at 1:22 pm to TheCaterpillar
Hell 75k at 30 is doing pretty good if you're single and don't have to share.
Posted on 7/30/13 at 1:27 pm to Lsut81
Is $60k-pre taxes a year at age 25 a decent start to life?
I am about to get engaged and she makes around $40k pre-taxes.
Hopefully I will be around 100 at age 30, at least thats my goal.
I am about to get engaged and she makes around $40k pre-taxes.
Hopefully I will be around 100 at age 30, at least thats my goal.
Posted on 7/30/13 at 1:28 pm to TheCaterpillar
quote:
Is $60k-pre taxes a year at age 25 a decent start to life?
Yes.
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