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Posted on 7/25/17 at 11:22 am to sjmabry
quote:
Most could live comfortable without making $100,000. It's those damn student loans and credit card bills that kick arse.
Student loans and health insurance premiums are killers. At least the student loans will go away after a while.
Posted on 7/25/17 at 11:25 am to lnomm34
i think 175K household with a couple kids in this area is perfect to live comfortably and do things when you want.
Posted on 7/25/17 at 11:26 am to GetCocky11
quote:
health insurance premiums are killers
I'm self-employed and went back to grad school full time. There is a student plan I can get through the school that is more reasonable than most of what I can find through Obama Care. However, the biggest problem is that it doesn't come out pre-tax like a work sponsored plan. It also costs below the $12k standard deduction, which didn't allow me to write it off last year.
Posted on 7/25/17 at 11:26 am to bayouvette
If I ever do decide to settle down. Ms. 50 will have to bring home at least 50k.
Not even kidding.
Not even kidding.
Posted on 7/25/17 at 11:27 am to Deactived
quote:
And it's the OT. 100k isn't enough for them when they have kids, Tahoes, and shitty beach vacations to pay for
Amen
Posted on 7/25/17 at 11:28 am to 50_Tiger
quote:
If I ever do decide to settle down. Ms. 50 will have to bring home at least 50k.
Not even kidding.
depending on where you live, with a salary that low, it would probably make more sense for her to just stay home
my wife will probably stay home with our next child, which would bump us back down with the "poors"
Posted on 7/25/17 at 11:28 am to 50_Tiger
What makes you think individual employees easily make 100K?
Posted on 7/25/17 at 11:29 am to 50_Tiger
quote:
Ms. 50 will have to bring home at least 50k.
so she'll need to be grossing $75-80K/yr.?
Posted on 7/25/17 at 11:29 am to Salmon
Well the goal in my head is a household income of around 130-150k should allow 2 kids and not lose QoL due to financial reasons.
Posted on 7/25/17 at 11:29 am to 50_Tiger
quote:
If I ever do decide to settle down. Ms. 50 will have to bring home at least 50k.
That's not hard to make. Mine is a college dropout and makes around 75k ish
Posted on 7/25/17 at 11:29 am to bayouvette
quote:
175K
I love money talk on the OT. Next we should do a retirement thread so I can read how all of you need 10 MM to continue your lifestyle.
Posted on 7/25/17 at 11:30 am to 50_Tiger
quote:
I pay 1425 in rent
Why not buy a house with that much rent?
Posted on 7/25/17 at 11:30 am to 777Tiger
quote:
so she'll need to be grossing $75-80K/yr.?
Yep!
I really only date professional women. Mainly nurses or marketing divas. Great for a good time, but get mad when I am not ready to just settle down immediately.
Posted on 7/25/17 at 11:30 am to slackster
100k-8k for payroll and 401k of 15k leaves 77kfor taxes. Assume 1000 a month for insurance and 1800 for mortgage and insurance and your left with 43400 for the year. Assume 18% taxes on 60k agi and your down to about 33k for the year or about $2750/month to pay car loans and living expenses. Nothing outrageous, but definitely livable.
Posted on 7/25/17 at 11:31 am to phutureisyic
quote:
Why not buy a house with that much rent?
Lol I ask myself that every day. More than likely will pull the trigger next year.
Posted on 7/25/17 at 11:31 am to 50_Tiger
quote:
Well the goal in my head is a household income of around 130-150k should allow 2 kids and not lose QoL due to financial reasons.
Jeez, in most areas of the south, you should be living a very, very comfortable life in that scenario. Hell, even at 100k, having a family of 4 in a nice area with a comfortable life shouldn't be hard at all.
Posted on 7/25/17 at 11:31 am to Bmath
quote:
Depending on health care costs and education expenses that's a really tight budget. I know because I sat down and did that for myself over the weekend.
It's tight only because people have a hard time distinguishing between necessities and discretionary spending. That's not an insult, it's just a matter of fact. Let's say you spend $1k a month on education and another $1k a month on healthcare, both pretty damn high, you've still got $3,400 left. That is where you separate the discretionary and necessary spending.
Posted on 7/25/17 at 11:31 am to 50_Tiger
quote:
Well the goal in my head is a household income of around 130-150k should allow 2 kids and not lose QoL due to financial reasons.
You will lose QoL with 2 kids no matter your financial situation
Posted on 7/25/17 at 11:32 am to phutureisyic
quote:
Why not buy a house with that much rent?
in the DFW area he could buy two houses for that amount of monthly payment, could rent the second one out for enough to cover both notes
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