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re: Perfect Annual Salary?
Posted on 7/29/13 at 2:04 pm to Ace Midnight
Posted on 7/29/13 at 2:04 pm to Ace Midnight
"Well off" is certainly relative, but here are some personal criteria I've developed:
1) ability to send kids to best schools through high school, whether that means private or affording a house in the best public school district
2) ability to fund children's public college education without any loans
3) ability to eat out at actual restaurants multiple times per week, and ability to travel reasonably well at least twice per year
4) fully funded 401K and 6-12 months emergency (or saving enough to get there soon)
5) ability to throw some additional cash into equity or other investments
6) ability to save and pay cash for $50K+ car (not that you necessarily should)
7) ablility to free pursue other hobbies without serious financial barriers
8) ability to give generously to multiple worthy causes.
Having all this in Manhattan will definitely require greater income than having it in Baton Rouge. In Dallas, which I think is generally pretty average when it comes to cost of living, I think about $250k-$300k should get you there.
1) ability to send kids to best schools through high school, whether that means private or affording a house in the best public school district
2) ability to fund children's public college education without any loans
3) ability to eat out at actual restaurants multiple times per week, and ability to travel reasonably well at least twice per year
4) fully funded 401K and 6-12 months emergency (or saving enough to get there soon)
5) ability to throw some additional cash into equity or other investments
6) ability to save and pay cash for $50K+ car (not that you necessarily should)
7) ablility to free pursue other hobbies without serious financial barriers
8) ability to give generously to multiple worthy causes.
Having all this in Manhattan will definitely require greater income than having it in Baton Rouge. In Dallas, which I think is generally pretty average when it comes to cost of living, I think about $250k-$300k should get you there.
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