Started By
Message

re: At which salary level is an individual “doing well”?

Posted on 4/2/21 at 10:23 pm to
Posted by Eli Goldfinger
Member since Sep 2016
32785 posts
Posted on 4/2/21 at 10:23 pm to
$35K in Bawcomville = $200K in San Francisco.
Posted by CunningLinguist
Dallas, TX
Member since Mar 2006
18770 posts
Posted on 4/2/21 at 10:35 pm to
quote:

IMO about $200k. This basically allows you to have all of the "normal" american items:

1.) $400k house


With interest rates what they are, a $600k house is affordable on a 200k salary.

As for question of OP, it is all relative. We do well for
ourselves and live like we could live on one salary (we both work).
Posted by Dominate308
South Florida
Member since Jan 2013
2895 posts
Posted on 4/2/21 at 10:37 pm to
When you have more than you can reasonably spend.
Posted by ned nederlander
Member since Dec 2012
4272 posts
Posted on 4/2/21 at 10:44 pm to
In New Orleans I would put it at over $150,000 for a single, and over $275,000 for a couple with 2 kids.
Posted by Loup
Ferriday
Member since Apr 2019
11299 posts
Posted on 4/3/21 at 6:19 am to
Whatever mud til may makes
Posted by Warfarer
Dothan, AL
Member since May 2010
12126 posts
Posted on 4/3/21 at 7:31 am to
I make around 80k now running my own business but I am also completely tied to the everyday in and outs so I am always working. My house is nearly paid off but don't have much for retirement.

I recently decided that when i finish my current run of contracts, another couple months, I am going to close the doors and go work for a large company with good retirement and some other benefits. They offered me 100k plus annual raises and bonuses and I won't have my hand in the dirt day in and day out. I have spent the last year and a half putting close to 35% of my salary into debt and retirement. My wife makes roughly 50k and has some debt.

Overall, I think we make plenty of money for us, especially once the house is paid off this year.
Posted by Fox McCloud
Member since Oct 2020
3525 posts
Posted on 4/3/21 at 7:34 am to
quote:

In New Orleans I would put it at over $150,000 for a single, and over $275,000 for a couple with 2 kids.


Lol although you are technically right that you would be well off making that much, you couldn’t be more wrong with saying that is the threshold. Anyone making over 110k jointly or 70k individually can live a solid lifestyle in LA. Especially right now with the interest rates, you can afford 400k plus housing with that type of salary.
Posted by GATORGAR247
Member since Aug 2017
993 posts
Posted on 4/3/21 at 7:57 am to
quote:

, I am going to close the doors and go work for a large company with good retirement and some other benefits.

I did this and the stress went away over night. I had a construction company for 13 years. I worked everyday . Paid off everything I owned but didn't have a retirement account. Now I work 14 days a month I have a pension 401k and 6 weeks vacation. Life is too short to work all the time.
Posted by DownshiftAndFloorIt
Here
Member since Jan 2011
66763 posts
Posted on 4/3/21 at 8:01 am to
quote:

70k individually can live a solid lifestyle in LA.


Did it for a while. Can confirm. Owned a house and had a damn good tine.
Posted by El Segundo Guy
SE OK
Member since Aug 2014
9589 posts
Posted on 4/3/21 at 8:05 am to
Last year I got irritated about my job on Feb 28. On Feb 29, I went in to the office, packed my shite and peaced out.

I will never work another day of my life doing something I don't want to do. At 46 that is an awesome feeling.
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
71400 posts
Posted on 4/3/21 at 8:47 am to
I've always seen, in most places, under 30k tough, 30-50k okay, 50-75k getting there, 75k plus doing well.
Posted by SCgamecock2988
Member since Oct 2015
14064 posts
Posted on 4/3/21 at 9:07 am to
I’m 33 and not where I want to be, but I’m also not planning for marriage or kids. Is what it is... I don’t even get pets because I spend too much discretionary income.

I’ve got a 401k with my job and standard retirement and just started Acorns for an investment account and Roth IRA account. Dabbling in Robinhood a bit.

I also live in the south so cost of living is cheap; I’d be a lot more comfortable with a house/mortgage than getting fleeced by an apartment but I don’t want the headache of home ownership right now.
This post was edited on 4/3/21 at 9:09 am
Posted by BorrisMart
La
Member since Jul 2020
8812 posts
Posted on 4/3/21 at 9:07 am to
In small town La, you can make 100k and live like a king baw. Like you said its all subjective, and how many kids you have is a major factor.
Posted by yellowfin
Coastal Bar
Member since May 2006
97635 posts
Posted on 4/3/21 at 9:19 am to
Top 5%
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
32450 posts
Posted on 4/3/21 at 9:25 am to
quote:

50% over median income where you reside

That dog don’t hunt.

The median household in Lafayette is 50k, 75k still isn’t shite around here.
Posted by tgrbaitn08
Member since Dec 2007
146214 posts
Posted on 4/3/21 at 9:31 am to
quote:

The median household in Lafayette is 50k, 75k still isn’t shite around here.



Home of the $30k millionaires
Posted by meansonny
ATL
Member since Sep 2012
25597 posts
Posted on 4/3/21 at 9:42 am to
quote:

I've always seen, in most places, under 30k tough, 30-50k okay, 50-75k getting there, 75k plus doing well.


"Well" is relative.
When i was 18+, under 30k was great.
At 25+ and married, 50-75 was very, very good.
But with a kid and stay at home wife a few years later, it was tight.

It all boils down to wants/needs.
Do you need a phone or want a new iphone/watch/airpod?
Do you need a car or want a new car/truck?
Do you need a home or want a subdivision?
Does furniture cost $500 or cost $4k?
Do we cook? Buy pizza? Eat fast food? Or eat out?
Are we drinking milk, water and coffee at home? Or beer/wine/soft drinks?

The great thing about me being poor and frugal when i was young is that i appreciate small levels of want and can live extremely below our means.

We can live on half of our current income. Retirement and investments would take a huge hit. But my mortgage payment is the payment my wife and i could afford waiting tables. My 2007 honda accord is about to hit 200k miles. My wifes 2014 town and country is approaching 115k. In the near future, our $200k household income may feel tight as we get 4 kids into college. But that seems to be the natural progression (or maybe not because im cheap as shite).
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
32450 posts
Posted on 4/3/21 at 10:23 am to
quote:

Anyone making over 110k jointly or 70k individually can live a solid lifestyle in LA.

In the city of New Orleans? If you have kids? No.
Posted by tgrbaitn08
Member since Dec 2007
146214 posts
Posted on 4/3/21 at 10:30 am to
quote:

In New Orleans I would put it at over $150,000 for a single, and over $275,000 for a couple with 2 kids.



Thats a comfortable living in new orleans but you can get by for much less and still send you kids to a private school...whether you're single or married..even with 2 kids. I know people that do it.....granted you would be shocked how many people in this city 1. live way beyond their means and 2. are grown adults and their parents/grandparents pay their bills and kids tutions....as well as the amount of well off couples that receive financial aid to send their kids to private schools.
Posted by Bluegrass_Cat
GVL, SC
Member since Aug 2012
1634 posts
Posted on 4/3/21 at 10:38 am to
My wife and I live outside of Greenville SC. I’m a flight attendant and she’s a travel nurse. Combined our income is probably around $150,000. However the majority of her income is not taxed. We have zero kids, have one car paid off, the other is very cheap, and our mortgage is very cheap. We rarely eat out. And I rarely buy new clothes or shoes.

Both of our jobs we leave at work, pick when we want to work, and in general have ZERO stress. While we may not seem to have as much as some others, internally I am happy as I’ve ever been and we have plenty of savings and investments. We love to travel and thankfully flights aren’t an expense for us.
first pageprev pagePage 5 of 6Next pagelast page

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram