I live in a very nice suburb in Southern New Hampshire about an hour outside of Boston. My wife and I make $140k before taxes. We have 2 kids one still in daycare. We have no problem paying all our expenses and still putting away a money for savings in addition to what we contribute to our 401Ks at work and extra in IRA's.
Get a better tax person and buy less stuff.
Yep, you're right.
Newsflash: life sucks, shit happens, just because I didn't want my son to have Down Syndrome doesn't mean I don't love him, take care of him and enjoy the small things I'm able to do for my children with the little money I have left over after everything else.
I hope life never knocks you on your ass. If it does, I hope your soon-to-be-fat wife sticks around and still has sex with you.
MKajKathi wrote:
Yep, you're right.
Newsflash: life sucks, shit happens, just because I didn't want my son to have Down Syndrome doesn't mean I don't love him, take care of him and enjoy the small things I'm able to do for my children with the little money I have left over after everything else.
I hope life never knocks you on your ass. If it does, I hope your soon-to-be-fat wife sticks around and still has sex with you.
you're mad
My Wife and I brought in $114,000 last year. This year was rough I was the only one working and made $55,000 after Taxes and deductions take home was $28,000 to cover all bills and expenses. Needless to say we are back up to $90,000 this year but will still be filling a Chapter 7 the bills got to far behind and the interest rates sky rocketed. We did the math and realized we did not want to be paying off credit cards for 10 years so unfortunately filling will give us our paycheck back.
Too answer the question: $50K a year is dirt broke. $100k is decent, and $200+ is were the taxes and deductions no longer effect you.
sdlife wrote:
asdfsadfsadf wrote:It totally depends on where you live.
I can say that in San Diego, without welfare, $50k for an adult is pushing minimum wage for college grads (non-Barista work). I'd say $40k is minimum.
The average cost of a house here is $500k. $50k salary doesn't get you far.
You can live just fine on $50K in San Diego. It just means you won't be owning anything and will likely have roommmates. 50K is more than enough to pay rent, bills and still have money to party every weekend.
Also means you won't be able to save for retirement, bring up kids in anything other than deprived conditions, certainly not help them with college, pay for health cover, own a house, a car less than 10 years old, travel to interesting places, etc etc etc. So, "live just fine on $50K" is great when you're 20 and have zero responsibilities, but when you start a family and don't want to live with a bunch of students, well - have fun with that.
Oreeegoooonnnn wrote:
11th year; quit and started my own company which has nothing to do with my college degree.
3 years later I'm making much, much, much, much more $$$ and hardly working.
.
What do you do. Please email. I want to start your company in my town and make some $$$.
Robertjohnson@letsrun.comInReality wrote:
My Wife and I brought in $114,000 last year. This year was rough I was the only one working and made $55,000 after Taxes and deductions take home was $28,000 to cover all bills and expenses. Needless to say we are back up to $90,000 this year but will still be filling a Chapter 7 the bills got to far behind and the interest rates sky rocketed. We did the math and realized we did not want to be paying off credit cards for 10 years so unfortunately filling will give us our paycheck back.
Too answer the question: $50K a year is dirt broke. $100k is decent, and $200+ is were the taxes and deductions no longer effect you.
Just because you spend like an idiot does not mean $50K is broke.
rojo wrote:
Oreeegoooonnnn wrote:11th year; quit and started my own company which has nothing to do with my college degree.
3 years later I'm making much, much, much, much more $$$ and hardly working.
.
What do you do. Please email. I want to start your company in my town and make some $$$.
Robertjohnson@letsrun.com
That was Wejo posting under his alternate screen name.
jojobo wrote:
There are many college grads that cannot find work. Many others that have found work but settled for very little.
Frequently, that's their fault. Internships in college are gold. If you don't get them, then don't be surprised when you can't find a job after college. The only people I know from college who didn't get jobs shortly after graduation were ones who didn't have any real world experience.
always in debt wrote:
andicamp wrote:If you make 200k for a family of 4 and have no savings, it's because you have chosen a lifestyle that doesn't allow you to save.
Live in a modest house, keep your car til it has 200,000 miles on it, don't buy tons of dumb stuff that you don't need or even enjoy, don't buy things on credit, have your kids get part time jobs to earn their spending money and contribute towards school money... it's not that hard, just make different choices.
College is 64k per year per kid if you want to go to a top notch institution. Clearly you have no concept of what things actually cost. A part time job amounts to a drop in the barrel.
I have no cc debt. The reason I have no savings is I refuse to take out loans for everything (unlike 90% of the population) and I'm not letting my kids accumulate debt. Over 150k per household and your financial aid options are low. My kid is in one of the top schools in the country for her major. She deserves it. She worked hard for it and now I work hard for her.
But I also work very hard to support Uncle Sam. I get very tired of that. Yes, I make 100k but it's doing back breaking work that others are not willing to do. That's why I get so much. I really don't like giving half of it away.
Your all paying way more in taxes than you may think. Sales tax, extra gas taxes, property taxes, income taxes, tolls, etc.... You name it. We are getting screwed.
Why does your daughter need to go to a "top notch institution"? Is she getting a degree in something useful or are you just unable to say no to your kids?
If you want to spend $64,000 a year on your child's education and not require her to take any financial responsibility for it, that's your choice, but don't complain about it. There are other choices.
In what alternate universe does this occur?
Susjwhahjwj wrote:
Police, firefighters, teachers, nurses all start at 50k or more.
In what alternate universe does this occur?
Lol11 wrote:
Oreeegoooonnnn wrote:Landscaping. Yes.... LANDSCAPING.
I believe it. Rich people pay for landscaping...I pay for landscaping.
Rich people own landscaping companies
I make 250k per year. I save about 100k and pay about 100k in taxes (includes federal, state, real estate sales and use taxes). That means I spend about 50k on myself.
I give the government twice as much as I spend on myself. I give the government $300 per day, every day of the year. That's nuts. I just got done paying for 12 years of college. I have a few years still to go before I can retire
Show me the money wrote:
I make 250k per year. I save about 100k and pay about 100k in taxes (includes federal, state, real estate sales and use taxes). That means I spend about 50k on myself.
I give the government twice as much as I spend on myself. I give the government $300 per day, every day of the year. That's nuts. I just got done paying for 12 years of college. I have a few years still to go before I can retire
What state do you live in?