re: Americans think they need to earn $233,000 to live comfortably, and $483,000 to be rich

quote:

---

I remember back in the day when I first crossed the $200k threshold and thought I was rich. I was far from it. I honestly don’t know how young people today can afford to live on less than that.

---

Its real easy, control your spending. You can easily live on way less. You dont need new fancy cars especially large trucks and suvs that are not needed. Your house is probably bigger than you need, There are a lot of cost that people can cut out and still live comfortably.

quote:

---

$233k doesn't go that far after taxes, mortgage, car payt, car ins, cell phone bills, travel ball, maybe a vacation, investment savings & summer camp for 2 kids. This. Combined income my ole lady and I make around $300k but after school tuition, day care, car note, camps, savings/investments feels like there's not much left over. $483k would be a hell of a lot more comfortable,

---

More comfortable yes but you’d just end up blowing on stupid dumb shite.

quote:

---

$233k doesn't go that far after taxes, mortgage, car payt, car ins, cell phone bills, travel ball, maybe a vacation, investment savings & summer camp for 2 kids

---

Good grief. Yes, it does.

First, let's define "living comfortably" as owning a $500k house in a normal COL area, driving nice cars, having good health insurance, paying all your bills, having a good phone and cable package, eating out once a week, taking a few vacations, having a few hobbies and activities and saving for retirement.

$233k is about $14k net a month if you do your taxes right.

Let's say mortgage, escrow, insurance on a $500k house = $3000.
Utilities and other household bills = $1000
Car payments on two new cars = $1000
Other driving expenses (gas, insurance, maint.) = $1000
Groceries and sundries = $1000
Dining out and entertainment = $1000
Health insurance and healthcare = $1000
Saving 20% for retirement = $3000

That still leaves you with $2000/month for misc. expenses, vacations, summer camp and other frivolities.

Now, two kids in private school or grandma in a nursing home can throw a major wrench into the budget but a basic family household budget like above is definitely "comfortable".

$483k, very precise.

quote:

---

Average guy on the OT makes 200

---

And would live comfortably by a large margin, unless they have a spending problem.

quote:

---

Americans think they need to earn $233,000 to live comfortably

---

pretty reasonable number for a family with upper middle class sensibilities

ETA- That’s about equal to 100k in 1990

America is ill with greed, lust, excess, ego, envy, jealousy, and consumption. We celebrate it in our music, movies, art, politics, etc. We are all guilty. Best you can do is to try and not give in, or at least limit your indulgence.

You arent wealthy until you arent flying commercial

quote:

---

isn’t that the point? At $233k, a newer car, kids activities, and vacations used to be easily covered with plenty left over.

---

We made around that just a few years ago. We lived extremely comfortably.

What the frick are yall blowing y'alls money on that mid 200s is "just enough" for a middle class life?

Y'all realize the average middle class family makes less than half that right? Probably closer to a a third of that.

quote:

---

I remember 10 years ago thinking “if I can just make it to 100k, I’ll be good.” Now I make more than that and I feel like I never have any money

---

This is a you “problem”, and you’re not alone. I’m in the same boat. When I first started working I was making $65,000. I was rolling in it. I now make substantially more than that and I’m living comfortably, but I certainly don’t feel like I’ve made it. I’m looking now at private HS tuition, vehicles for my kids, and their subsequent insurance rates.

I guess what I’m trying to say is, as I make more, my “needs” become more expensive.