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Started By
Message
re: It takes more than $55k to live secure in BR
Posted on 1/14/15 at 1:56 pm to Tiger Ryno
Posted on 1/14/15 at 1:56 pm to Tiger Ryno
quote:$55,000 for a family of four ensures:
55k? not a lot to live on anywhere if you are supporting a family of 4
1. You pay $0 in federal taxes.
2. You get paid every year by the federal government.
Making $65,000 with a family of 4 would probably cause you to have less take home pay because you'd be in a higher tax bracket and would then either get less from the feds or owe them a small amount.
2
Posted on 1/14/15 at 2:05 pm to hashtag
quote:
You pay $0 in federal taxes.
you sure?
I'm no tax guy but gross or 55,000 less standard deduction and personal exemption is still going to pay taxes
even with 1k child credit
Posted on 1/14/15 at 2:09 pm to Farkwad
Isn't cost of living usually higher in college towns? Lots of degrees & not as much real estate
Posted on 1/14/15 at 2:12 pm to Bmath
quote:
$36K Which before taxes would put you in the $55k range.
Right!
Posted on 1/14/15 at 2:14 pm to yellowfin
If I had to live on $55k a year id have to move to Kennah brah
Posted on 1/14/15 at 2:16 pm to tgrbaitn08
No hobbies on 55k either
no deer lease
no duck blind
no boats
no golf
no vacations
no 2k chartered tuna trips
no high fence deer killing
no deer lease
no duck blind
no boats
no golf
no vacations
no 2k chartered tuna trips
no high fence deer killing
Posted on 1/14/15 at 2:23 pm to Salmon
quote:
my old roommate had a $1200/month car note on his Camaro. He made $31K working at Chase
he had to work at Chilis at night to afford his car
There's some solid financial decision making.
Posted on 1/14/15 at 2:25 pm to Salmon
quote:
my old roommate had a $1200/month car note on his Camaro. He made $31K working at Chase
bless his heart.
Posted on 1/14/15 at 2:25 pm to LSUBoo
quote:
There's some solid financial decision making.
he had a degree in Finance
Posted on 1/14/15 at 2:26 pm to Salmon
I hope he stays out of financial planning or consulting, for his clients' sakes.
Posted on 1/14/15 at 2:26 pm to yellowfin
Hey now. Whatcha your mouth with all that crazy talk.
Posted on 1/14/15 at 2:28 pm to tgrbaitn08
You could still live in NOLA. You might not live very long though.
Posted on 1/14/15 at 2:32 pm to Winkface
Would I out live my money?
Btw, wifey doesn't have anything hanging on the door right now. I told her she better get with the program.
Btw, wifey doesn't have anything hanging on the door right now. I told her she better get with the program.
Posted on 1/14/15 at 2:35 pm to hashtag
Wut?
You'd be paying taxes, and the feds/state would not be paying you.
You'd be paying taxes, and the feds/state would not be paying you.
Posted on 1/14/15 at 2:51 pm to Salmon
How much of that $63,648 is health care costs? What amount of employer contribution is included, and how is it reflected in the "living wages"? Bottom line, I'm skeptical about the required level of income without regard to the definition of modest but dignified life.
My personal opinion is that modesty and dignity are most often conflicting interests. Many conflate dignity with self-esteem, and I personally feel inflating an individual's self-esteem is solely the responsibility of that individual.
My personal opinion is that modesty and dignity are most often conflicting interests. Many conflate dignity with self-esteem, and I personally feel inflating an individual's self-esteem is solely the responsibility of that individual.
Posted on 1/14/15 at 2:52 pm to Farkwad
So, don't have 2 kids if you make jack shite?
Posted on 1/14/15 at 3:02 pm to Bmath
quote:
Which before taxes would put you in the $55k range.
Sure, but part of my necessities and debts I have are choices I made because my wife and I don't just make $55k a year. If we did, we wouldn't have bought new cars when our vehicles were 10 years old but running fine. I wouldn't have purchased the house we're in if my income isn't what it is. The point I was making is that for my $3k a month budget, I can take care of a family of three with MY house note, car notes, and other "luxuries" that I would have made different decisions on if we actually only made $55k before taxes. It's because I have a sense of financial responsibility that overrides any hurt dignity I might have from lacking newer or nicer things.
Posted on 1/14/15 at 3:07 pm to 777Tiger
quote:
was very glad when I paid those off, now she's talking about wanting a new ride
Put her in her place. Tell her she can pay for it if she wants a new car.
Posted on 1/14/15 at 3:25 pm to yellowfin
Lots of cheap hobbies out there.
And you can certainly take a nice vacation.
And you can certainly take a nice vacation.
This post was edited on 1/14/15 at 3:27 pm
Posted on 1/14/15 at 3:30 pm to lsu480
quote:Did they factor in the professional fees paid to the worst accountant ever? Accountants have to eat too.
With the worst accountant ever
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