At which salary level is an individual “doing well”?

Get fricked

78k.

quote:

---

I think a lot of ppl lie about the money they make.

---

No way..

Many people lie about how much they make. The older I get, the more I realize it.

Doing well is all relative- location, number of kids, tuition, etc.

I know people making a combined 140k with kids in public school that are doing great. I know people that are north of 225k and are basing their entirely livelihood on their commission checks.

All said and done, I'd say in Louisiana, if you're making about 120k a year, you're doing well.

I make $64k and my wife makes $58k. Teacher benefits and retirement.

We’re very comfortable and meeting our financial goals in our middle 30s.

Cant go on lavish vacations, but I’d say we’re doing well.

Relates to your expense level.

What's your goal?

Varies wildly from person to person.

IMO about $200k. This basically allows you to have all of the "normal" american items:

1.) $400k house
2.) Newish Truck
3.) Newish 2nd vehicle
4.) Save 15-20% to retirement
5.) Decent boat
6.) 1-2 Nice vacations a year.
7.) Eat out a couple times a month for dinner
8.) Not have to pinch pennies

Less than that, and you are cutting out likely at least one of those.

This does not include private school. So would need to be more for that.

ETA: I figured I'd get downvoted but I'd like to hear your opinions? I had a down year last year due to Covid but I made almost $200k in 2019 and after retirement savings I by no means felt like a baller with 3 kids.