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Old 05-13-2010, 05:54 PM
 
Location: Coastal Northeast
15,742 posts, read 22,004,068 times
Reputation: 5277

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Quote:
Originally Posted by Tetto View Post
Ok, but if your HH is above $100K, you should be able to live pretty darn good in CT. 100K in CT is pretty good, in San Fran; not so good. You need 250K to live well there...I know lots of high earners (I'm sure you do too) who don't live lavish lifestyles, (read The Millionaire next door) and don't have many financial worries.
Oh sure, there are lots of wealthy who don't flaunt it.

I guess we can agree to disagree on whether 100k in CT is good. We all have different expectations and while mine aren't high, I would like to drive a newer car, live in a decent neighborhood and be able to eat out once a week. There are many who are fine driving a 10 year old car and renting a cheap apartment. That's just not me. It's actually barely doable in my situation.
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Old 05-14-2010, 05:29 AM
 
Location: CT
1,930 posts, read 3,174,658 times
Reputation: 1419
Quote:
Originally Posted by kidyankee764 View Post
Oh sure, there are lots of wealthy who don't flaunt it.

I guess we can agree to disagree on whether 100k in CT is good. We all have different expectations and while mine aren't high, I would like to drive a newer car, live in a decent neighborhood and be able to eat out once a week. There are many who are fine driving a 10 year old car and renting a cheap apartment. That's just not me. It's actually barely doable in my situation.
Cars are an evil necessity in this state. Buy them used so the other guy takes the hit on depreciation or buy them new and drive them until the wheels fall off! Keeping up with the Jones' is a problem for alot of people. I could care less how I'm perceived; I know what my goals are and have the willpower to see it through. Unfortunately I know people who are so obsessed with how they are perceived, they will buy a new Acura every other year, go to Italy(or wherever) every year for vacation and eating out 3-4 times a week, the best clothes, on and on... Then I hear them complain about not having a pot to pee in!

I get the feeling you'll do just fine!
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Old 05-14-2010, 09:25 AM
 
112 posts, read 207,336 times
Reputation: 59
Quote:
Originally Posted by Tetto View Post
Undesirable if you don't have a good career field. If you're in aerospace, med devices, IT and finance to name a few, you can do pretty well.
So, I guess I went to college for the wrong degree then. I spent 4yrs of my life busting my butt to get it....now what? Start it all over again just so I can afford to live in CT when I could use that degree and live well in a lower COL state??? That doesnt seem rational.

As for finance, I have a few friends who graduated with a degree in that field. Starting out they had to take entry level jobs that paid them low to mid $30k and have to worry about layoffs on a daily basis. They stuggle with trying to move up the corporate ladder just to reach $50k. Sure if you've been in finance for say 20yrs and had the opportunity for some good promotions then your probably well off. For someone who graduated at 24 that means by the time you can afford to live comfortably in this state you are in your middle fourties??? Also keep in mind, a lot of companies in the 70's and 80's only required a HS diploma and you worked your way up (according to some "older" family members). These days to get in the door most places, entry level, at an entry level salary, a BS is like having a HS diploma and a lot of people with master degrees are taking entry level jobs in this state...and its not just the recession..I saw this prior to the recession.

As for IT, I agree it is a well paying field. A friend of mine graduated and was offered a $60k job with a $10k hiring bonus right out of school. He had to get out of IT and suffer a serious pay cut due to outsourcing of IT jobs and his subsequent layoff.

It's not easy these days to live in CT. Esp if, like me, you are a single female without a family to live with until you can save up money or to give you money to start out. I have many family members who have HH incomes of $100k and they are struggling. I also have family members who have husbands making well over $100k and they still have to hold down their own jobs to make it (granted they have a $400k houses but in CT that doesn't get you much).

Personally, I live WELL below any means (I am the one with the old car and crappy apartment LOL) and I don't need much to get by. Still I'm scrapping JUST to get by in CT. Who knows, maybe I'm doing this wrong? Maybe I should get married to have a two income household, get the house I want (under $200k is just fine with me!) and pray my marriage doesn't end in divorce (and just in case stash some money for a good atty to get decent alamony).
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Old 05-14-2010, 09:45 AM
 
Location: Albuquerque
1,615 posts, read 2,413,708 times
Reputation: 1006
I live in a motel room on the Berlin Turnpike. It's actually quite nice.
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Old 05-14-2010, 10:33 AM
 
Location: In a house
13,258 posts, read 34,636,559 times
Reputation: 20198
I don't know what everyone's problem is. I'm one of a married couple, I work part time at near-minimum wage mostly to get out of the house. We rely on my spouse's income to pay the bills. Our combined gross income is under $80k/year. We live in a nice neighborhood, in a low-crime town, we have no trouble paying our monthly mortgage and utilities bills, we have expanded cable (I swear that sucks up more of our income than the electricity bill), we own our motor vehicles outright and paid cash for them, we keep our debts down, we have two credit cards between us and neither of them are EVER even halfway to max.

And we still have enough left over for yearly vacations, and the occasional dinner out. All this in Connecticut. I know it's expensive to live here, but really, reading some of these posts suggests that you have to be rich to live in CT and that just plain isn't even close to the truth. You just have to be rich to live in a $400,000 house. But there are PLENTY of houses that aren't even half that much, in decent areas of the state, in good condition, on decent plots, near stores and whatever else. That you haven't found them merely suggests to me that you haven't looked very hard.
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Old 05-14-2010, 11:12 AM
 
Location: CT
1,930 posts, read 3,174,658 times
Reputation: 1419
Quote:
Originally Posted by AnonChick View Post
I don't know what everyone's problem is. I'm one of a married couple, I work part time at near-minimum wage mostly to get out of the house. We rely on my spouse's income to pay the bills. Our combined gross income is under $80k/year. We live in a nice neighborhood, in a low-crime town, we have no trouble paying our monthly mortgage and utilities bills, we have expanded cable (I swear that sucks up more of our income than the electricity bill), we own our motor vehicles outright and paid cash for them, we keep our debts down, we have two credit cards between us and neither of them are EVER even halfway to max.

And we still have enough left over for yearly vacations, and the occasional dinner out. All this in Connecticut. I know it's expensive to live here, but really, reading some of these posts suggests that you have to be rich to live in CT and that just plain isn't even close to the truth. You just have to be rich to live in a $400,000 house. But there are PLENTY of houses that aren't even half that much, in decent areas of the state, in good condition, on decent plots, near stores and whatever else. That you haven't found them merely suggests to me that you haven't looked very hard.

You're dead on with that! It's all about expectations; if you expect to have the mcmansion and lexus...you better work your butt off and be at the top of your game! Or you can live moderately, save and invest and do just fine in CT.
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Old 05-14-2010, 11:13 AM
 
Location: CT
1,930 posts, read 3,174,658 times
Reputation: 1419
Quote:
Originally Posted by Rich Cabeza View Post
I live in a motel room on the Berlin Turnpike. It's actually quite nice.
Sweet, sounds like you made all the right moves!
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Old 05-14-2010, 11:20 AM
 
Location: New England
8,155 posts, read 18,203,970 times
Reputation: 3279
Quote:
Originally Posted by Tetto View Post
Sweet, sounds like you made all the right moves!
I hear they have "day rates" too.
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Old 05-14-2010, 11:48 AM
 
Location: Coastal Northeast
15,742 posts, read 22,004,068 times
Reputation: 5277
Quote:
Originally Posted by AnonChick View Post
I don't know what everyone's problem is. I'm one of a married couple, I work part time at near-minimum wage mostly to get out of the house. We rely on my spouse's income to pay the bills. Our combined gross income is under $80k/year. We live in a nice neighborhood, in a low-crime town, we have no trouble paying our monthly mortgage and utilities bills, we have expanded cable (I swear that sucks up more of our income than the electricity bill), we own our motor vehicles outright and paid cash for them, we keep our debts down, we have two credit cards between us and neither of them are EVER even halfway to max.

And we still have enough left over for yearly vacations, and the occasional dinner out. All this in Connecticut. I know it's expensive to live here, but really, reading some of these posts suggests that you have to be rich to live in CT and that just plain isn't even close to the truth. You just have to be rich to live in a $400,000 house. But there are PLENTY of houses that aren't even half that much, in decent areas of the state, in good condition, on decent plots, near stores and whatever else. That you haven't found them merely suggests to me that you haven't looked very hard.
Not everyone is as lucky as you are. Lots of people have student loans and other debts through no fault of their own. The higher than average cost of living in CT makes it that much more difficult to live a comfortable lifestyle with these extra bills. I'm not saying you have to be rich to live here, because obviously you don't, but to live in a nice, low crime town you have to be pulling in a pretty damn good income. Do you have to make $150k a year? No, most don't, but in our situation, we need at least 80k or we'll start to fall behind.

It must be nice to be able to pay cash for your cars. For most people, it would take them many months or years of saving to be able to do that. Many months or years in CT without an automobile is next to impossible.

I'd also be interested to see a nice house in CT on a decent plot of land that doesn't need much work for $175k.

Last edited by kidyankee764; 05-14-2010 at 11:57 AM..
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Old 05-14-2010, 12:59 PM
 
Location: Albuquerque
1,615 posts, read 2,413,708 times
Reputation: 1006
Quote:
Originally Posted by JViello View Post
I hear they have "day rates" too.
Those rates are a little higher. Better to go by the week.
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