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Started By
Message
re: $100,000 income: No big deal anymore
Posted on 7/25/17 at 2:02 pm to MusclesofBrussels
Posted on 7/25/17 at 2:02 pm to MusclesofBrussels
quote:
Damn, nice car. Our household income is higher by a decent amount and I wouldn't spend that on a car. I'm guessing our mortgage cost eats up a much greater percentage of our income though
It's a lot of money. More than I planned to spend.
We just bought a place in downtown Chattanooga on the river, it's nice but it's only a two-bedroom condo. She owned a small house in knoxville that she's been renting out for the past 3 years. She sold it and we used that as a fairly large down payment for our place. We have no kids and no real bills. 85k is a lot to spend on a car but it won't change our plans for travel, saving for retirement, or just our lifestyle in general, so I don't think it's a problem. If I decide I want to do other things, I'll get rid of it and ask LNCHBOX where to get a nice minivan.
3
Posted on 7/25/17 at 2:03 pm to Deactived
quote:
I think people wouldn't admit it if their life turned for the worse because of kids.
No doubt
Probably the same amount that those without kids later in life wished they had them.
This post was edited on 7/25/17 at 2:08 pm
Posted on 7/25/17 at 2:05 pm to 50_Tiger
quote:
Hey Bumbling in the short term is a legit strat
seems like the best strategy long term too
the peace of mind coming home to an empty house is beyond valuable to me
having a live-in-gf/wife is mentally exhausting - never again
Posted on 7/25/17 at 2:05 pm to Pecker
quote:
LNCHBOX where to get a nice minivan.
You know he's going to plague this thread now
Posted on 7/25/17 at 2:05 pm to Deactived
quote:
but I have no doubt plenty on here regret their kids being born.
I started a thread asking that question and a few people were brutally honest about their kids being mistakes.
It's kind of sad.
Posted on 7/25/17 at 2:07 pm to rocket31
quote:
the peace of mind coming home to an empty house is beyond valuable to me
Dude it took me a long time to truly understand the meaning and value of that.
I literally stopped giving a frick.
Posted on 7/25/17 at 2:08 pm to yellowfin
quote:
It isn't much at all
I live in a very low cost of living city and would struggle
Lol, this is bs.
Posted on 7/25/17 at 2:09 pm to Pecker
quote:
We just bought a place in downtown Chattanooga on the river, it's nice but it's only a two-bedroom condo.
On the northshore or those new ones on the north side of 27?
Posted on 7/25/17 at 2:13 pm to Displaced
North shore. North Chat is the spot bro
Posted on 7/25/17 at 2:15 pm to Pecker
quote:
We have no kids and no real bills. 85k is a lot to spend on a car but it won't change our plans for travel, saving for retirement, or just our lifestyle in general, so I don't think it's a problem.
Nice, then go for it. I'm jealous, been looking at cars in the 40-45K range but have been having trouble pulling the trigger on it
quote:
If I decide I want to do other things, I'll get rid of it and ask LNCHBOX where to get a nice minivan.
Posted on 7/25/17 at 2:16 pm to Pecker
We talked about that before we bought in Hixson. Decided it wasn't fair to the dogs to not have a yard. Plus her drive would have been unnecessarily long.
Posted on 7/25/17 at 2:18 pm to Displaced
quote:
We talked about that before we bought in Hixson. Decided it wasn't fair to the dogs to not have a yard. Plus her drive would have been unnecessarily long.
I really want a dog but it would be a nightmare to do that where we live. There are downsides for sure, but we both work downtown so the location is great and it fits us for now.
Posted on 7/25/17 at 2:43 pm to Whoopdedo_LSU
quote:
How much did a house cost in 1980?
My dad's house was brand new in 1980, $60,000.
Last appraisal was a few years ago, $185,000.
60,000 x 3 = $180,000
$30,000 income x 3 = $90,000
quote:
$100k today is the $30k of the 80s
checks out.
Posted on 7/25/17 at 2:50 pm to AUCE05
quote:
Median for a HVAC tech is 40k. People bloat trade salaries for some strange reason.
That means 50% of HVAC techs make more than 40k.
Free truck, and no student loan debt.
Versus the liberal arts major, who makes $40k if he is lucky enough to even find a job, and has $50k in student loan debt.
Additionally.... by age 22 the HVAC tech has already made $100,000 when the college kid graduates and starts looking for a job.
It will take a very long time for the college grad to catch up to the hvac tech.
This post was edited on 7/25/17 at 2:52 pm
Posted on 7/25/17 at 3:36 pm to Pecker
I've spent most of my free time today in and out of reading this thread and haven't seen anyone really throwing out budget expenses for an average family of four living in Louisiana in 2017.
I did some quick Google research on a number of topics to make sure my numbers were within ballpark.
Monthly
Starter home mortgage / rent $1250
Auto loan $300
Auto insurance $164 (2017 avg in LA)
Employee paid portion + out of pocket expenses for healthcare $917 (2016 average for a US family of four)
Childcare $550
Based of these numbers a family of four with two modest car notes, a decent 3 bedroom home/ apartment, and 2 kids in daycare (or private school) the above costs are in the ballpark of 43k a year.
I didn't factor in utilities (electricity/water/heating/sewage), other insurances (homeowners, flood, life), modern technologies (mobile phone, internet, cable), student loans, groceries, clothing, gas costs, or general upkeep and maintenence of things you own.
It's fairly easy to see how someone in their late 20's,starting a family, can have what feels like very basic needs and modern necessities and have 50k in "bills" every year.
It's the reason some can gross 100k in a year, without solid family budgeting right out of college or inheriting any wealth, get taxed at a rate near 25%, throw bills on top of that and they are left with a little over 2k a month for food, clothing, and gas for a family.
Im not taking up for either side, but all of the above variables play into someone living like royalty as a single adult living on a six figure salary as opposed to a two income family living on a 100k budget in 2017.
I did some quick Google research on a number of topics to make sure my numbers were within ballpark.
Monthly
Starter home mortgage / rent $1250
Auto loan $300
Auto insurance $164 (2017 avg in LA)
Employee paid portion + out of pocket expenses for healthcare $917 (2016 average for a US family of four)
Childcare $550
Based of these numbers a family of four with two modest car notes, a decent 3 bedroom home/ apartment, and 2 kids in daycare (or private school) the above costs are in the ballpark of 43k a year.
I didn't factor in utilities (electricity/water/heating/sewage), other insurances (homeowners, flood, life), modern technologies (mobile phone, internet, cable), student loans, groceries, clothing, gas costs, or general upkeep and maintenence of things you own.
It's fairly easy to see how someone in their late 20's,starting a family, can have what feels like very basic needs and modern necessities and have 50k in "bills" every year.
It's the reason some can gross 100k in a year, without solid family budgeting right out of college or inheriting any wealth, get taxed at a rate near 25%, throw bills on top of that and they are left with a little over 2k a month for food, clothing, and gas for a family.
Im not taking up for either side, but all of the above variables play into someone living like royalty as a single adult living on a six figure salary as opposed to a two income family living on a 100k budget in 2017.
Posted on 7/25/17 at 3:47 pm to rocket31
quote:
i can support myself, thx
Not arguing that, but your response had quite literally nothing to do with the post.
Posted on 7/25/17 at 3:48 pm to mylsuhat
quote:
$100k for a household (assuming family) is not that much
Yea I thought this thread was about solo income
Posted on 7/25/17 at 3:50 pm to Pettifogger
quote:
Honestly, depending on what you need to live at a certain level in some places (basic home prices for decent neighborhoods, private schools, taxes), 200k doesn't go that far.
Word.....
Posted on 7/25/17 at 3:50 pm to MusclesofBrussels
quote:
Nice, then go for it. I'm jealous, been looking at cars in the 40-45K range but have been having trouble pulling the trigger on it
Our two cars combined are less than that. Different strokes for different folks. I like looking at cars, not owning them.
I need to do the supercar rental/racing in Vegas. Hell, maybe the track here has it.
This post was edited on 7/25/17 at 3:52 pm
Posted on 7/25/17 at 3:52 pm to deeprig9
quote:
Versus the liberal arts major, who makes $40k if he is lucky enough to even find a job, and has $50k in student loan debt.
When will this cliche die?
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