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re: Americans think they need to earn $233,000 to live comfortably, and $483,000 to be rich
Posted on 7/10/23 at 10:13 am to JohnnyKilroy
Posted on 7/10/23 at 10:13 am to JohnnyKilroy
quote:
It still blows my mind that people in this thread are claiming ~10k per month in spending is “just enough” for a comfortable middle class lifestyle. Delusional.
I think this when I see the money board people saying like I need 4 million to comfortably retire … that’s spending $11,000 a month every single month for 30 years …
1
Posted on 7/10/23 at 10:14 am to JohnnyKilroy
quote:
It still blows my mind that people in this thread are claiming ~10k per month in spending is “just enough” for a comfortable middle class lifestyle. Delusional.
Yup. "$230k doesn't go as far as you think". bullshite.
"The mortgage on my $600k house that I qualified for so I obviously spent that much is like $4k a month. Then, because I'm smart with money, I purchased a used 2022 GMC King Ranch Super Hemi for $80,000. Not even new, used! That note is another $1000/month. My wife drives an Audi Q8 and that note is another $800/month. Eating out for lunch and dinner every day is like $2k/month on the credit card alone. Private school, separate day care (so I never have to see my kids), and three vacations a year eat up basically all the rest. I can barely even save at this income. You don't realize just how fast that money goes."
People need a damn reality check on what comfortable is.
Posted on 7/10/23 at 10:15 am to Lawyered
quote:
I think this when I see the money board people saying like I need 4 million to comfortably retire … that’s spending $11,000 a month every single month for 30 years …
Remember you need enough to fly private or first class exclusively as well
Posted on 7/10/23 at 10:15 am to tiggerthetooth
Also depends on what their definition of financial comfort.
Posted on 7/10/23 at 10:16 am to Dragula
$233,000 as an individual is very comfortable. As a couple is comfortable. As a couple with one child it’s pushing it. Two or more is not comfortable.
ETA-This is in Louisiana. Also, as an individual at this rate you’re able to save and invest. As a couple you’re saving. With one kid you’re barely saving.
ETA-This is in Louisiana. Also, as an individual at this rate you’re able to save and invest. As a couple you’re saving. With one kid you’re barely saving.
This post was edited on 7/10/23 at 10:20 am
Posted on 7/10/23 at 10:19 am to Nelson Biederman IV
quote:
As a couple with one child it’s pushing it.
Buddy, I make WAY less than that, my wife doesn't work, neither does my kid. And I am comfy as a clam. You gotta re-evaluate if this is your belief.
Posted on 7/10/23 at 10:20 am to Nelson Biederman IV
quote:
As a couple with one child it’s pushing it
Delusional.
Posted on 7/10/23 at 10:20 am to Nelson Biederman IV
quote:
$233,000 as an individual is very comfortable. As a couple is comfortable. As a couple with one child it’s pushing it. Two or more is not comfortable.
What?
I’ve got two kids, one in college, one about to be. We own our home, save for retirement, go on vacations, have very little debt, have 4 vehicles, have 6 months emergency fund, etc etc etc..
We make more than we’ve ever made right now and it is considerably less than 233k a year.
Some of you must have an insane definition of “comfort”.
Posted on 7/10/23 at 10:21 am to Nelson Biederman IV
quote:
$233,000 as an individual is very comfortable. As a couple is comfortable. As a couple with one child it’s pushing it. Two or more is not comfortable.
I was like "maybe in NYC"
but then you said this
quote:
This is in Louisiana.
and holy shite
Posted on 7/10/23 at 10:21 am to Fe_Mike
quote:
Yup. "$230k doesn't go as far as you think". Bull shite.
The stats for average wages:
Top 0.1%: $3,212,486
Top 1%: $823,763
Top 5%: $342,987
Top 10%: $173,176
Posted on 7/10/23 at 10:22 am to Nelson Biederman IV
quote:
This is in Louisiana. Also, as an individual at this rate you’re able to save and invest. As a couple you’re saving. With one kid you’re barely saving.
Loooooooooool
Posted on 7/10/23 at 10:22 am to Nelson Biederman IV
quote:
$233,000 as an individual is very comfortable. As a couple is comfortable. As a couple with one child it’s pushing it. Two or more is not comfortable.
I love out of touch posts on this board. Reminds me of another thread where a poster said that $400/night for a hotel room is cheap.
Posted on 7/10/23 at 10:22 am to Dawgfanman
quote:
Some of you must have an insane definition of “comfort”.
You’re right. It’s subjective. “Comfort” to me means that I can easily maintain my standard of living without concern of finances.
Posted on 7/10/23 at 10:25 am to Nelson Biederman IV
quote:
maintain my standard of living
Your standard of living is patently absurd if 230k is not enough to live a comfortable af life AND be able to save a ton for retirement with one kid in Louisiana.
Posted on 7/10/23 at 10:32 am to Nelson Biederman IV
quote:
You’re right. It’s subjective. “Comfort” to me means that I can easily maintain my standard of living without concern of finances.
Mine is being able to have a warm (or cool) decent place to live, a reliable form of transport, money to eat what I want when I want (within reason), a little for a vacation a few times a year, and enough to help my kids get on their feet in life. At 50, on half of 233k, for most of those years and less than that even now. I’ve achieved that in perpetuity (well unless I live to need 24 hr care for a long long time and that’s what insurance is for). To each his own. Fwiw, I come from poverty, my parents barely escaped the “mill village” where I was born.
Posted on 7/10/23 at 10:36 am to Nelson Biederman IV
quote:
$233,000 as an individual is very comfortable. As a couple is comfortable. As a couple with one child it’s pushing it. Two or more is not comfortable.
This is utter insanity.
You cannot be serious.
Income and number of kids is negatively correlated -- the more income, the less kids.
With all due respect, you are completely out of touch with reality if you honestly believe this.
Posted on 7/10/23 at 10:37 am to bayouvette
quote:
South LA for a family of 4 150k-175k and you can pretty much do whatever you want
While saving money for retirement and sending kids to private school? It's cutting it close for sure.
Posted on 7/10/23 at 10:42 am to Epic Cajun
quote:
While saving money for retirement and sending kids to private school?
Do whatever you want? Probably not. But it’s certainly still a very comfortable life. 175k is probably about 8k per month AFTER taxes, substantial retirement saving and putting 2 kids through catholic school.
This post was edited on 7/10/23 at 10:43 am
Posted on 7/10/23 at 10:43 am to Fe_Mike
quote:
People need a damn reality check on what comfortable is.
The word comfortable is subjective, do you not understand that? Some people are comfortable living in a trailer, some people are not
Posted on 7/10/23 at 10:46 am to Dawgfanman
quote:
Mine is being able to have a warm (or cool) decent place to live, a reliable form of transport, money to eat what I want when I want (within reason), a little for a vacation a few times a year, and enough to help my kids get on their feet in life. At 50, on half of 233k, for most of those years and less than that even now. I’ve achieved that in perpetuity (well unless I live to need 24 hr care for a long long time and that’s what insurance is for). To each his own. Fwiw, I come from poverty, my parents barely escaped the “mill village” where I was born.
That’s great. I think one of our goals as parents should be to give our kids a life that’s just a little better than ours. I’ve been very blessed. I want my son to have a quality education and the same types of opportunities and experiences that I did. I posted my opinion based on my experience. Everyone’s experience is different. To say “patently absurd” is a bit harsh. We do not live extravagantly. Just a lot of things that add up.
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