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Started By
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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 12:29 pm to STLhog
Posted on 7/10/23 at 12:29 pm to STLhog
quote:
350k for a house?
Laugh out fricking loud.
Where besides bum frick nowhere is that even a thing?
we talking now? or we talking 5+ years ago? because $350k got you a nice starter home in the Texas burbs in a good school district and very decent area.
1
Posted on 7/10/23 at 12:29 pm to WaydownSouth
quote:
Wife and I both pull in six figure salaries.
quote:
Already up to about $5500 in bills
quote:
Not much left to play with
Lol
Posted on 7/10/23 at 12:30 pm to JohnnyKilroy
I’m going to need to see the math on that as I find it very difficult to believe he and his wife would have $84,000 left over after that
Posted on 7/10/23 at 12:31 pm to WaydownSouth
quote:
Wife and I both pull in six figure salaries.
quote:
Already up to about $5500 in bills
quote:
Not much left to play with
the other $7-8k per month isn't enough to "play with"?
Posted on 7/10/23 at 12:32 pm to Oilfieldbiology
quote:
Bull shite, unless your fishing is fishing with a cane pole off a bank. If you’re fishing off a boat and it is truly a hobby, like once a month, I bet you spend over $1,000 in fuel alone each year.
I don’t own a bass boat but have family/friends who do. I help them with gas and take care of the beer. I’ve got 4-5 really nice rigs myself. And can catch fish all fricking day long son. But again, i live within my means. I don’t need a bass boat to prove to the neighbors i make good money. I’m also not too good to bank/pier fish or hop in a friend’s pirogue. It’s about the alone time in the outdoors to me, not proving how little my dick is having to own a flashy bass boat.
This post was edited on 7/10/23 at 12:36 pm
Posted on 7/10/23 at 12:32 pm to Salmon
quote:
"Me and my wife make $300k and it feels like we are barely getting by" will always be my favorite OT post
I may focus on this instead of the Satanic Ritualistic Abuse stuff b/c I may like this better
Posted on 7/10/23 at 12:33 pm to Oilfieldbiology
I’m not sure what the wife is saving. We have separate accounts and just zelle each other for bills
I’m putting 6% into a 401k + a 4% employer match
Then another 4% into a brokerage account
I’m putting 6% into a 401k + a 4% employer match
Then another 4% into a brokerage account
Posted on 7/10/23 at 12:33 pm to Oilfieldbiology
200k income (probably more because I doubt both him and his wife make exactly 100k each)
25% effective tax rate - 50k
66k in bills he mentioned in his post
200k - 50k - 66k = 84k
It’s rough math but I bet I’m pretty close.
25% effective tax rate - 50k
66k in bills he mentioned in his post
200k - 50k - 66k = 84k
It’s rough math but I bet I’m pretty close.
Posted on 7/10/23 at 12:35 pm to Klark Kent
quote:
don’t own a bass boat but have family/friends who do. I help them with gas and take care of the beer. I’ve got 4-5 really nice rigs myself. And can catch fish all fricking day looks son. But again, i live within my means. I don’t need a bass boat to prove to the neighbors i make good money.
Never said you had too, but if you don’t have a boat and aren’t the primary responsible party for maintenance and fuel, I can absolutely see how you would be under $1,000 annually to fish Fresh water
Posted on 7/10/23 at 12:36 pm to Oilfieldbiology
quote:
Bull shite, unless your fishing is fishing with a cane pole off a bank. If you’re fishing off a boat and it is truly a hobby, like once a month, I bet you spend over $1,000 in fuel alone each year.
kayak bruh
Posted on 7/10/23 at 12:36 pm to Oilfieldbiology
They make 200k. He has 60k in bills. Let's just say he pays 60k in taxes, which he shouldn't be. That's 80k leftover to spend on whey protein and gym memberships. In case you haven't read his thousand posts about it but waydown goes to the gym a lot
Posted on 7/10/23 at 12:37 pm to WaydownSouth
quote:
I’m not sure what the wife is saving. We have separate accounts and just zelle each other for bills I’m putting 6% into a 401k + a 4% employer match Then another 4% into a brokerage account
Ok kids don’t listen to this guy regarding anything personal finance. Jesus.
Posted on 7/10/23 at 12:38 pm to Salmon
if i bought a lake house tomorrow. i’d spend the $5-10k on a good kayak waaaaay before i’d waste it on a bass boat. to me that’s a more enjoyable experience fishing anyhow.
Posted on 7/10/23 at 12:38 pm to WaydownSouth
quote:
I’m not sure what the wife is saving. We have separate accounts and just zelle each other for bills
Oh. Lol.
You should double date with babytac and tell Nam stories
Posted on 7/10/23 at 12:39 pm to Dragula
People have inflated what they feel they need because of social media. You would think that everyone is just going on vacations and working 2 hours from their computer to generate 100's of thousands of dollars per year.
Posted on 7/10/23 at 12:45 pm to Dragula
its topics like this one that reminds me that half the OT is delusional and explains a lot of the thoughts here.
outside of huge metropolitan areas, if you cant live comfortably on 200k a year, you have budget issues and/or social media envy.
outside of huge metropolitan areas, if you cant live comfortably on 200k a year, you have budget issues and/or social media envy.
Posted on 7/10/23 at 12:46 pm to lsufan1971
Hypothetical Single LA resident with $150K in gross wages with 15% into pre-tax 401K, taxable of $127,500 for 2022:
Federal tax liability (assuming standard deduction): $21,327
FICA: $7,905
Medicare: $2,175
State Income: $4,749
Property tax (rough estimate but likely way too high for LA): $5,000
Sales Tax (rough estimate but likely way too high): $6,000
Total tax burden: $47,156.
Not even frickin close to half.
Do a little research before talking out of your arse.
Even if my property tax and sales tax estimates are off, it is not even close. And my hypo man is maxing out the 401K contribution.
Again, there is a valid argument taxes are too high but don't outright lie to make your point.
ETA: 401K contributions are not taxes so perhaps you are confusing those contributions when thinking about take-home pay vs gross. That is comp deferral and does not count as they are voluntary and can be reduced if needed.
Federal tax liability (assuming standard deduction): $21,327
FICA: $7,905
Medicare: $2,175
State Income: $4,749
Property tax (rough estimate but likely way too high for LA): $5,000
Sales Tax (rough estimate but likely way too high): $6,000
Total tax burden: $47,156.
Not even frickin close to half.
Do a little research before talking out of your arse.
Even if my property tax and sales tax estimates are off, it is not even close. And my hypo man is maxing out the 401K contribution.
Again, there is a valid argument taxes are too high but don't outright lie to make your point.
ETA: 401K contributions are not taxes so perhaps you are confusing those contributions when thinking about take-home pay vs gross. That is comp deferral and does not count as they are voluntary and can be reduced if needed.
This post was edited on 7/10/23 at 1:03 pm
Posted on 7/10/23 at 12:47 pm to Dragula
And if they made $483k they’d think they needed $900k. It’s the human condition.
Posted on 7/10/23 at 12:49 pm to Deactived
quote:
. That's 80k leftover to spend on whey protein and gym memberships.
Posted on 7/10/23 at 12:55 pm to JohnnyKilroy
quote:
200k income (probably more because I doubt both him and his wife make exactly 100k each) 25% effective tax rate - 50k 66k in bills he mentioned in his post 200k - 50k - 66k = 84k It’s rough math but I bet I’m pretty close.
Then I need to figure out where the frick all my money is going
Now, I’m living comfortably and am not month to month, but I’m certainly not looking at thousands of $’s left over every month.
This post was edited on 7/10/23 at 12:57 pm
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