I made $90k in NYC then moved to DC for $100k. I did very well in both cities.
I made $90k in NYC then moved to DC for $100k. I did very well in both cities.
Your post makes total sense on paper, but live out in the Bay area (or similar) and be in such a beautiful place everyday with great weather and zillion awesome things to do, you realize the midwest isn't really that appealing comparatively. Most people who have transplanted out here agree.
yeah, retire early! do all the stuff people on the west coast do all the time when you aren't as healthy. That's what you've been trained to think. Snoooze.
i grew up in the midwest and now live in the bay area making just under $100k a year. My wife and I pay $4500 a month on our mortgage and save about $1000 a month for retirement, but we can also surf and snowboard in the same day, see whales from our town, and go running in shorts and a t-shirt every day of the year. Plus food is better, people are generally more open-minded, and you can be outside 365 days a year doing almost anything. It really is paradise.
I go back to the Midwest and visit and there isn't the same life in people's eyes. It's fine, but it's not AS fine.
You could pay me $200k a year and buy me a house and pay for it in cash and i wouldn't move back to the midwest after having been out here.
You only have one life to live.
One. Life.
If the stuff you listed is more important than living a full, interesting life, you're probably in the right place. But out here people value other things.
Sure we wish it was cheaper, but there will always be money. At least that's what I've found so far.
When your effective federal income tax rate is below 0%, you'd be a moron to not do a roth. So why are you paying off mortgage early? Your rate is probably
ahhh, poor people. Mortgage, car loans, credit card debt. Can't even afford a descent phone or basic entertainment. sad really. I love seeing poor people get all wound up about someone paying off a mortgage.
I ride the bus and earn > $100 K. I'd rather read and do work while commuting than fight traffic. And there are only 9000 parking spaces for 15000 people where I work. I save $$/time/environment.
not a problem wrote:
kokoro wrote:
The zip codes where $100,000 is a commonplace salary are the same zip codes where $100,000 has very little buying power in the real estate market. It's all about housing.
So live where other people make 100K instead of trying to live where people make 200K.
Ummm . . . jobs!
mmoooo wrote:
Demographics wrote:
Make 100k in Mississippi and youre crazy rich....make that in a ski town in colorado or cali coast or nyc and you are poor
Then don't live in NYC, idiot.
You make higher income at bigger cities. Cost of living is correlated to income. If no one can actually afford the cost of living, then no one can actually live in that city.
In cheaper cost of living areas, there’s enough people who would be willing to work certain jobs for much lower salary so employers can find enough labor. It’s simple supply and demand.
But houses in coastal cities actually appreciate at a nice pace, so yea, basically, I’m living for free at a house I bought several years ago. I got so much equity in my house that I can easily get HELOC and use money from my house as well.
So, if you take a risk and move out, maybe you’ll become something then living in crappy midwest town.
20 minute 5K wrote:
Think of it like a 5K time. By percentile, a 20 minute 5K is extraordinary. I don't know exactly what percent of the population could go out the door and run that fast right now, but it has to be less than 7% (I'd guess less than 1% could do this).
But is 20 minutes really a good 5K time? Any young, fit male with a little bit of natural ability who consistently trains hard and focusses on getting faster will easily run much faster than that.
So yeah, not many people earn $100K, but it is attainable for people who work hard and focus on the goal of earning 6 figures.
The American Myth of “People that don’t have money just aren’t working hard” is getting old.
poor people problems wrote:
d'oh wrote:
When your effective federal income tax rate is below 0%, you'd be a moron to not do a roth. So why are you paying off mortgage early? Your rate is probably
ahhh, poor people. Mortgage, car loans, credit card debt. Can't even afford a descent phone or basic entertainment. sad really. I love seeing poor people get all wound up about someone paying off a mortgage.
Poor people will remain poor if they are going to get a higher return investing instead of overpaying for a low interest mortgage. It's simple math. Don't humble brag simple financial mistakes.
mmoooo wrote:
Demographics wrote:
Make 100k in Mississippi and youre crazy rich....make that in a ski town in colorado or cali coast or nyc and you are poor
Then don't live in NYC, idiot.
Being poor in NYC is preferable to being rich in Mississippi.
ummmmm, check that math wrote:
mmoooo wrote:
Then don't live in NYC, idiot.
Being poor in NYC is preferable to being rich in Mississippi.
Being dead in NYC is preferable to being alive in Mississippi.
Comparing yourself to others isn't the best idea, but I do it all the time.
Money and status rules in America, as well as popularity in social media. The world is still High School in a lot of ways.
I didn't say I was shitty or not. Was just saying that I'm at least attempting to do it. If it doesn't work, it doesn't work.
And where did you get your 80%? Source?
It depends on where you live, so 50k in Cbus is double on the West Coast.
If you cut expenses to the bone, at least in Columbus, on 50k or so salary, you can save 23k or so per year and invest it. I'm able to live on 17k a year in Columbus and have no debts or loans (which helps). The rest I throw into investments.
Christopher Columbus wrote:
I didn't say I was shitty or not. Was just saying that I'm at least attempting to do it. If it doesn't work, it doesn't work.
How do you rule out the possibility that you can't get published because your writing isn't good?
Carry your stupid argument out. It is completely illogical. Not working at all, earns nothing. The other end of the spectrum is someone working 100 hours per week. They are definitely high earners. So working harder earns more money. Tens of millions do not work and they are poorest people in the country.