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re: $100,000 income: No big deal anymore
Posted on 7/25/17 at 11:23 pm to Epic Cajun
Posted on 7/25/17 at 11:23 pm to Epic Cajun
quote:
5/6 week long vacations might be a bit much, but we probably do 5-6 if you're counting long weekend trips that we take.
LOL.......I thought you consultants made bank!
I knew better.....
2
Posted on 7/25/17 at 11:31 pm to Jimbo21165
My wife is a 38 year employee at State Farm.....she's "old guard" management, team leader, claim Rep, etc......she makes a dollar or two.....
I'm a 35 year employee in the petro chem/refining/ civil/heavy industrial construction business. My degree is Construction..... which is a BS in applied science. Not an engineering degree, but along the same lines....
$100k is chickenfeed......
I'm a 35 year employee in the petro chem/refining/ civil/heavy industrial construction business. My degree is Construction..... which is a BS in applied science. Not an engineering degree, but along the same lines....
$100k is chickenfeed......
Posted on 7/25/17 at 11:37 pm to cjared036
quote:
I agree. $100,000 is not a whole lot of money. it may keep you afloat and allow you to do a trip a year. but you are not getting wealthy off of it.
you need $300,000 a year for many years to build personal wealth.
I'm sticking with 500k to build substantial wealth per year.
Posted on 7/26/17 at 2:38 am to 777Tiger
100k a year with no student loan debt you're basically an NFL player
Posted on 7/26/17 at 7:13 am to vengeanceofrain
quote:
100k a year with no student loan debt you're basically an NFL player
I wouldn't go THAT far. However you can do things on a whim.
Posted on 7/26/17 at 8:07 am to 50_Tiger
Some of those talking about stretching $100000 if you have a family don't know what stretching is. We have 4 kids and a little over half that because my wife stays home to homeschool. We're stretching it. With $100,000 I'd feel like Bill Gates.
Posted on 7/26/17 at 8:11 am to arktiger28
quote:
Some of those talking about stretching $100000 if you have a family don't know what stretching is. We have 4 kids and a little over half that because my wife stays home to homeschool. We're stretching it. With $100,000 I'd feel like Bill Gates.
Amen. The OT is delusional about what constitutes necessary spending and discretionary spending. Any financial inconveniences make you lower middle-class in the eyes of this place.
Posted on 7/26/17 at 8:15 am to arktiger28
quote:
We're stretching it. With $100,000 I'd feel like Bill Gates
Everyone thinks this.....if I just made XXX more per year I'd be set.
Mostly when they reach that number not much changes
Posted on 7/26/17 at 8:16 am to arktiger28
That's an amazing amount of responsibility on your wife, I hope she's very smart. I think my wife and I together could home school, but individually we lack too much to be effective. I'm great with math and science (BS&MS), she's great with languages (BA), history and writing...too much lacking with each one of us to be the only teacher of our son.
Posted on 7/26/17 at 8:16 am to arktiger28
Yeah, the "$100k" is not enough crowd is ridiculous. We are a family of 4 and could get by on that okay if we moved out of our current area to a cheaper area of the DFW metroplex. We are fortunate our combined income is higher than $100k. My wife and I are generally cheap. The only thing we really have splurged on is the house. That savings is going towards actually retiring and some investment properties we are about to procure.
Posted on 7/26/17 at 8:29 am to yellowfin
I would agree with that. If you would have told college age bruco how much money he'd be making, I would have thought "dang I'm rich"' but alas I'm not even close to rich.
But, on the flip side, I'm not worried about being able to retire as I max out my 401k each year and make a couple extra mortgage payments each year and have enough in regular savings to survive a year unemployed, without touching my retirement.
So I never really "worry" about money. I guess that's the definition of "comfortable".
But, on the flip side, I'm not worried about being able to retire as I max out my 401k each year and make a couple extra mortgage payments each year and have enough in regular savings to survive a year unemployed, without touching my retirement.
So I never really "worry" about money. I guess that's the definition of "comfortable".
Posted on 7/26/17 at 8:30 am to Jimbo21165
quote:
LOL.......I thought you consultants made bank! I knew better.....
It's more about the time away from work, than the ability to afford more vacations
Someone has to cover for your slacking arse.
Posted on 7/26/17 at 8:58 am to yellowfin
quote:
quote:
We're stretching it. With $100,000 I'd feel like Bill Gates
Everyone thinks this.....if I just made XXX more per year I'd be set.
Mostly when they reach that number not much changes
I mean, I see what your saying but I think if you tend to be really careful with your money and avoid debt then a doubling of your income would really feel significant. I don't feel poor. We take nice vacations and have our own house, we never want for anything that is a true need. We're happy and don't fight about finances very often. It also helps that it is a choice and that if things turned south my wife has two medical profession degrees to fall back on. But a little more to put back for retirement and college would really take some pressure off.
Posted on 7/26/17 at 8:59 am to CunningLinguist
I don't think anyone is saying they couldn't handle basic needs with a sub 100k household income. It would be a huge change in lifestyle for a lot of people though.
Posted on 7/26/17 at 9:17 am to GreatLakesTiger24
Whole lotta 
in this thread.
in this thread. Posted on 7/26/17 at 9:29 am to GreatLakesTiger24
quote:
eatLakesTiger24
I don't think anyone is saying they couldn't handle basic needs with a sub 100k household income. It would be a huge change in lifestyle for a lot of people though
A lot of people? It would be a change for less than 28% of the households in the country.
This post was edited on 7/26/17 at 9:42 am
Posted on 7/26/17 at 9:35 am to jdeval1
People and their vehicles crack me up. Buying a new car is such a sucker's deal. Total waste of money. If you have to have a different car, at least buy one a year or two old.
Posted on 7/26/17 at 10:00 am to ghost2most
quote:
People and their vehicles crack me up. Buying a new car is such a sucker's deal. Total waste of money. If you have to have a different car, at least buy one a year or two old.
I'll drive my current 09 truck until the truck nuts or the wheels fall off. I only drive about 10-12 miles per day and we take the wife's Pilot on vacations and trips.
This post was edited on 7/26/17 at 10:07 am
Posted on 7/26/17 at 10:02 am to ghost2most
quote:
People and their vehicles crack me up. Buying a new car is such a sucker's deal. Total waste of money. If you have to have a different car, at least buy one a year or two old.
It really depends on which vehicle you want, but generally I agree that people spend too much on their vehicles and thus have to sacrifice on housing spending.
As I said earlier, it's absurd that people will have two vehicles that cost them 100k combined, and will live in a house that is sub 200k.
Posted on 7/26/17 at 10:06 am to Epic Cajun
Everyone is different. Now, if they're trying to have fancy cars to flaunt, that's one thing. But I've seen some people drive brand-new 250s and live in mobile homes. The truck is important to them. Doesn't make it right or wrong, just their preference to spend the money on the vehicle rather than the house.
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