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Message
re: Your MINIMUM acceptable salary
Posted on 8/27/21 at 1:50 pm to 777Tiger
Posted on 8/27/21 at 1:50 pm to 777Tiger
quote:
could go on all day with different col comparisons, let's say I make $100k a year since that was thrown out, how far do you think that would get you living in Manhattan(NY,) verses, let's say, Mansfield. La?
Don't know why you were downvoted for pointing out this obvious truth.
$100K a year in Manhattan you live in a shithole efficiency apartment and couldn't afford a car due to insurance and parking fees, plus city/state taxes. Mansfield, LA, you can live in a very nice 2500-3000sf home with a two car garage, have a car, and be able to live like you want to unless you're just stupid. Maybe some of the folks haven't lived in different places and don't understand the concept.
70K a year salary in Fairfax, VA is NOT the same lifestyle as 70K a year salary in Hammond, LA.
1
Posted on 8/27/21 at 1:51 pm to BabyTac
quote:
I don’t understand how someone could live on anything less than $100,000/year. Seems impossible.
Huh? I’m 31 and make about $69,000/year (nice). I know, I’m OT poor.. but I make more than enough. Granted, I’m single and have no kids.
Posted on 8/27/21 at 1:52 pm to sweetwaterbilly
quote:
Huh? I’m 31 and make about $69,000/year (nice). I know, I’m OT poor.. but I make more than enough. Granted, I’m single and have no kids.
this is the OT, being grounded in reality is not required here
Posted on 8/27/21 at 1:54 pm to UASports23
quote:
Question: Is $100K a large amount of money now-a-days?
Not if you have a wife and 2 kids. $100K doesn't go far.
Posted on 8/27/21 at 1:56 pm to BabyTac
quote:
I don’t understand how someone could live on anything less than $100,000/year. Seems impossible.
With any amount of defense not in a HCOL, a 100k salary should set you up to retire early. Unless you have some extenuating medical circumstance or you were irresponsible and made 4-5 children, 100k can take you a very long way, especially if you're making the right moves to reduce your taxable income.
Posted on 8/27/21 at 1:57 pm to 777Tiger
quote:
this is the OT, being grounded in reality is not required here
True
That other guy posted only 16% of individuals make over 100k. Apparently the entirety of that 16% post on the OTPosted on 8/27/21 at 1:59 pm to InBRagainstmywill
House, max 401k contribution, savings, vacation, car payment, kids without private school I need about $100k.
I changed careers and I’m shy of that about 10k after bonus and it definitely shows in the budget.
I changed careers and I’m shy of that about 10k after bonus and it definitely shows in the budget.
Posted on 8/27/21 at 2:00 pm to InBRagainstmywill
At this point I wouldn't take less than 85k a year.
Posted on 8/27/21 at 2:23 pm to InBRagainstmywill
I think the minimum if I had to start over somewhere or something would be $50K. Wife makes $100K so I imagine we could easily survive if we had to.
Posted on 8/27/21 at 2:25 pm to InBRagainstmywill
80k
Posted on 8/27/21 at 2:26 pm to geaux88
quote:
70K a year salary in Fairfax, VA is NOT the same lifestyle as 70K a year salary in Hammond, LA.
I live in Fairfax County and these words are true. If I made $70K a year here, my family and I would live in a small apartment, wouldn't be able to go on nice trips, etc. It would be a much different life.
If I could only make around $70K here, I wouldn't be living here, though.
Posted on 8/27/21 at 2:30 pm to InBRagainstmywill
quote:What I make now.
Your MINIMUM acceptable salary
Posted on 8/27/21 at 2:34 pm to InBRagainstmywill
I could probably survive on 35k if needed (assuming total HHI is 75-80k) not a big spender) but so long as I'm not laid off/fired from current position, I'd need at least 67k.
If I'm scrambling for work, I'd take 55k without hesitation. We live in the WV part of Pittsburgh and everything here is about half of what it costs across the state line
If I'm scrambling for work, I'd take 55k without hesitation. We live in the WV part of Pittsburgh and everything here is about half of what it costs across the state line
Posted on 8/27/21 at 2:37 pm to InBRagainstmywill
I try to shoot for a net income the allows the following budget:
50% - towards essentials (housing, utilities, transportation, groceries, healthcare, clothes)
25% - disposable (entertainment, vacation, leisure, non essential purchases)
25% - savings and investments
If I can't make that work, I'm not going to be happy.
Posted on 8/27/21 at 4:13 pm to InBRagainstmywill
The better question would be what is the minimum salary for a job you would enjoy??
Say the guy who sits behind home plate and does the radar gun or the guy who air brushes temporary tattoos on the butts of beach volleyball players.
The rule is you work 40 hours a week and this is your only income.
For me if would be 85,000$.
Because I have a family.
If single then 35,000k.
Say the guy who sits behind home plate and does the radar gun or the guy who air brushes temporary tattoos on the butts of beach volleyball players.
The rule is you work 40 hours a week and this is your only income.
For me if would be 85,000$.
Because I have a family.
If single then 35,000k.
Posted on 8/27/21 at 4:34 pm to Dances with Beagles
Median income in Louisiana was $26,295 in 2019(preCovid)
Posted on 8/27/21 at 5:00 pm to cheobode
quote:
Wife and I live just outside Lafayette. I'm at $52K and she makes $24K. We have a decent home, two cars, our kids are in private school and we definitely aren't struggling.
I don't need that brand new Ford Raptor, Yukon Denali,and $500K home
Do you use Dave Ramsey? People would be shocked at how much money they waste. I still drive a 2008 Toyota Camry that has 201,000 miles; I paid $4,000 for it. Prior to that I had a 1999 Toyota Corolla that I paid $700 for. I drove it for five years and it had 243,500 miles. I only got rid of it because I got rear-ended and the damage resulted in my floorboard flooding and the body literally falling apart. I own a modest home, but I don't need much. I can get a BMW and a 400-500K home if I wanted, but why? Without saying how much I make, I am a financial controller for a medium sized company so I don't make scraps.
My brother and his wife made 88K last year and 70K the year before and averaged 65K prior to that and they own a $400,000 home because they were smart. They own older cars, have no car notes, and gained $100,000 in equity with their old home. They have four kids and are THRIVING.
To answer the OP, with my lifestyle, without any concern for retirement, I could make $50K per year and do pretty well. After I retire, I could probably live comfortably on 3K per month (depending on inflation).
This post was edited on 8/27/21 at 5:03 pm
Posted on 8/27/21 at 5:23 pm to BabyTac
For a household or an individual?
For a household, yes things would be much more conservative. If it's just me alone with no kids or wife, I'm balling on my current salary.
For a household, yes things would be much more conservative. If it's just me alone with no kids or wife, I'm balling on my current salary.
Posted on 8/27/21 at 5:45 pm to Dances with Beagles
quote:
Not if you have a wife and 2 kids. $100K doesn't go far.
This is absolutely true. When I was in my early twenties I made $75k a year, had a new $40k truck and lived like a king. No worries of money at all. Now I make $160k per year. With two kids and a wife I drive a 10 year old car and sweat every penny.
Posted on 8/27/21 at 6:03 pm to UASports23
quote:
Question: Is $100K a large amount of money now-a-days?
No. It wasn’t a decade ago either.
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