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Message

re: $100,000 income: No big deal anymore

Posted on 7/25/17 at 11:22 am to
Posted by yellowfin
Coastal Bar
Member since May 2006
99043 posts
Posted on 7/25/17 at 11:22 am to
I think most people know I'm fricking around when I do that.
Posted by GetCocky11
Calgary, AB
Member since Oct 2012
53509 posts
Posted on 7/25/17 at 11:22 am to
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 by bayouvette
Raceland
Member since Oct 2005
5986 posts
Posted on 7/25/17 at 11:25 am to
i think 175K household with a couple kids in this area is perfect to live comfortably and do things when you want.
Posted by Bmath
LA
Member since Aug 2010
18921 posts
Posted on 7/25/17 at 11:26 am to
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 by 50_Tiger
Arlington TX
Member since Jan 2016
43551 posts
Posted on 7/25/17 at 11:26 am to
If I ever do decide to settle down. Ms. 50 will have to bring home at least 50k.

Not even kidding.
Posted by GRTiger
On a roof eating alligator pie
Member since Dec 2008
71840 posts
Posted on 7/25/17 at 11:27 am to
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 by Salmon
I helped draft the email
Member since Feb 2008
86734 posts
Posted on 7/25/17 at 11:28 am to
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 by kywildcatfanone
Wildcat Country!
Member since Oct 2012
141210 posts
Posted on 7/25/17 at 11:28 am to
What makes you think individual employees easily make 100K?
Posted by 777Tiger
Member since Mar 2011
93541 posts
Posted on 7/25/17 at 11:29 am to
quote:

Ms. 50 will have to bring home at least 50k.


so she'll need to be grossing $75-80K/yr.?
Posted by 50_Tiger
Arlington TX
Member since Jan 2016
43551 posts
Posted on 7/25/17 at 11:29 am to
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 by jdeval1
Member since Dec 2009
7525 posts
Posted on 7/25/17 at 11:29 am to
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 by AUCE05
Member since Dec 2009
45425 posts
Posted on 7/25/17 at 11:29 am to
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 by phutureisyic
New Orleans
Member since Aug 2016
3619 posts
Posted on 7/25/17 at 11:30 am to
quote:

I pay 1425 in rent

Why not buy a house with that much rent?
Posted by 50_Tiger
Arlington TX
Member since Jan 2016
43551 posts
Posted on 7/25/17 at 11:30 am to
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 by The Goon
Baton Rouge, LA
Member since Nov 2008
1343 posts
Posted on 7/25/17 at 11:30 am to
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 by 50_Tiger
Arlington TX
Member since Jan 2016
43551 posts
Posted on 7/25/17 at 11:31 am to
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 by GetCocky11
Calgary, AB
Member since Oct 2012
53509 posts
Posted on 7/25/17 at 11:31 am to
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 by slackster
Houston
Member since Mar 2009
91874 posts
Posted on 7/25/17 at 11:31 am to
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 by Salmon
I helped draft the email
Member since Feb 2008
86734 posts
Posted on 7/25/17 at 11:31 am to
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 by 777Tiger
Member since Mar 2011
93541 posts
Posted on 7/25/17 at 11:32 am to
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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