[phoenixxphyre]

I'm seriously wondering what people are spending their money on when they claim that living in FL is 'hard to make ends meet' or that you 'can't live comfortably' on less than six figures a year? Sure, it would be nice to have that much money or more, but my brother started off as a min wage sandwich maker (and I never heard him complain about starving even then) and worked his way up a company. Last we talked about it, when he was buying his house in Palm Beach Gardens area, he was making 60k. Granted that's more than what some people are making in FL but it's nowhere near the six figure incomes people claim you 'need' to afford to do so. Obviously having a family to raise changes what you need, but I've seen single people on boards saying they'd make anywhere from 40-80k a year and people telling them they would have a tough time.

Then again, maybe I've just got a skewed perspective of 'comfortable' and what counts as a tough time. I've gotten the benefits of a six figure income, and I've gotten the struggles of living on 7-8/hr. Honestly, while it's certainly nice not to worry about food on the table, etc, I actually prefer doing it on my own and making sure that I'm responsible for my own well being. When I needed more money to get out of one situation and into another, I worked 65 hrs a week between two jobs til I could save the money required. Now that I'm trying to get out of the state all together, I'll do so again if I have to. I see jobs that are 35-45 k and think that would be a vast improvement; 60k or near would be a blessing. While I'd love to make six figures one day, if I never do, I'm sure I can still find a way to be happy, to be comfortable, and to make ends meet, wherever I'm at.

[121804]

That is why so many people are stuggling w/ home payments across the nation.

My husband would love a 3000sq ft home w/ all the amenities. I would love the state of the art kitchen & garden. But, it's not in our budget & it will probably never be.

I do the finances for the family & told him straight out what we can afford here in SW FL. Intially, he felt like he wasn't providing enough for his family. But who said it was wrong to live in a smaller home? Who said it was wrong not to have SUVs for every driving family member?

We found a wonderful builder & a wonderful lot which we can afford & can afford even if he takes an income loss.

Right now we live just fine on what he makes & it is below $100k. I can go to the store & buy things. I can get a manicure/pedicure every few weeks. We have no credit card debt. We can go out to dinner or order pizza once a week. We live within our means.

More money doesn't mean less problems. If you want to survive in FL, live on a budget. It is possible.

[phoenixxphyre]

Originally Posted by 121804

Intially, he felt like he wasn't providing enough for his family. But who said it was wrong to live in a smaller home? Who said it was wrong not to have SUVs for every driving family member?

Exactly. I've been considering a few places, including CA and while my boyfriend wants out of OH as well, he shies away from the idea of CA or FL because he wants to own a home someday, and it's painted as near impossible. He wants a family, and I agree with him that living in an apartment and making them be quiet, etc. wouldn't be fair. But there are other options than owning the best house, among them renting.

While there's nothing wrong with owning in and of itself, I think people get a little focused on it--make that the basis of success and happiness. Personally, if it's cheaper to rent a place near the beach than to buy a home inland, I'd rather do that...I don't care whose name's on the house as long as I'm happy in it (and then I'm not tied to it if I decide to move later).

More money doesn't mean less problems. If you want to survive in FL, live on a budget. It is possible.

I think that's good advice if you want to survive anywhere. Maybe I have it easier in ways that I've been living on so much less than people gripe about there, because even if I continue to have to live in the same level of what I can afford it won't be a shock or disappointment to me. I just feel kind of bad for people who read this forum and see all the posts about money and coming from a place like me where there's not as much might get discouraged from ever trying to change the situation.

[vpcats]

You guys are dead on. Some people almost make it sound like it's a crime if you don't own at least one home, in a nice place, with enough sq. ft. to include a ballroom and acres and acres of land. That's ok for some, some may be wishing and working towards that, but it's not necessary for everybody.

I was a NYC person and was perfectly happy renting and living in a 2 bdrm apt. I have been in Florida for almost 11 yrs now and at first, was perfectly happy in a one bdrm apt. Then, I got on this "well RE is basically cheapER here" syndrome and I could afford it, and I needed a tax write off so I became a homeowner. If it weren't for the 2 dogs and 5 cats I've accumulated over the last few years, I'd be ecstatic about going back to an apt. any time, but I think it WILL have to wait a little at this point.

Also, going back to the income and budget. Florida is a bit harder financially now because of the homeowner's insurance prices more than anything else, I think. Depending where you are in Florida and what your occupation is, you could need more $$$ or a LOT more these days, until the HOI and RE prices actually level off again. But it is true, you just have to make a budget and decide what your money MUST be spent on and what is fluff and just plain not necessary and mandatory. You don't have to make over 6 figures to lead a decent life. Then again, everything in life is subjective and the same words mean different strokes to different folks.

[phoenixxphyre]

I was talking to my brother about this and he said it's all subjective, and what's important. He said doesn't save much making what he makes, basically paycheck to pay check but it's because he chooses to have a nice phone, car,etc and two houses, so I should be able to get by on much less.

[chisoxfan]

You have to be sensible in your financial decisions. For instance, I see too many people here who can't afford BMWs, Lexuses, etc., driving them anyway. My wife and I drive older cars that get excellent gas mileage and do require occasional maintenance, but we spend a lot less on that than we would on car payments. We'd rather put what extra money we have into savings, investments and retirement accounts that have a chance of appreciating instead of fancy new cars that lose much of their value the second they're driven away from the dealership. Sure, that "new car smell" is great, but it does nothing for financial security.

We don't have kids, and I do know it's harder for families to survive on middle-class incomes here. But it seems like that's the case more often than not wherever you go these days, not just in Florida.

[bale002]

Originally Posted by phoenixxphyre

I'm seriously wondering what people are spending their money on when they claim that living in FL is 'hard to make ends meet' or that you 'can't live comfortably' on less than six figures a year?

Do the numbers from the perspective of a family of three or four, small business owners, first-time homeowners in southern Florida, coming in at current buy prices, current tax rates and home owners insurance rates, add in out-of-pocket health insurance, and out-of-pocket retirement savings, and out-of-pocket education expenses again, with respect to other quite normal goals and expectations.

Again, do the numbers on a spread sheet for southern Florida, including now many areas of the Treasury Coast.

It's not a question of loving or not loving money. It's a question of numbers. Do them on a spreadsheet.

[ssg II]

Between the two of us, we make about $90 and we can't save much. We certainly couldn't afford to own a home had we not done so before the prices went through the roof. Mortgage, insurance & taxes, utilities. Then there's gas & food, which is a big chunk, one car payment.....the list goes on.

We could both make more money in a metropolitan area, but we don't want the downside of an urban life. I quit a job making double what I am now, but coming home in tears every night from exhaustion, stress & not having a life wasn't worth it. We're happy living in a small town and damn lucky to have bought when we did! Quality of life should mean more than $$ and what it can buy.

[phoenixxphyre]

Originally Posted by bale002

Do the numbers from the perspective of a family of three or four, small business owners, first-time homeowners in southern Florida, coming in at current buy prices, current tax rates and home owners insurance rates, add in out-of-pocket health insurance, and out-of-pocket retirement savings, and out-of-pocket education expenses again, with respect to other quite normal goals and expectations.

Right I understand that it's hard to make it on X amount if you want to do all that. But there are people coming on the board 20-30 age, single, no kids, saying they make 50-80 grand and asking if they can make it living here, people are telling them they can't. Sure, they can't own a house on the beach, but they can certainly make it and probably happily.

[pslOldTimer]

It may seem tougher today, but it was just as tough 35 years ago when we moved here. We couldn't get the house we wanted, so we accepted the house we could get. We budgeted, worked hard, tried top make sensible decisions and it all worked out.

Most years, we made less than $50,000 per year. When the kids got old enough, my wife worked full time at her profession -- she's a physical therapist -- and made more money than me. Even so, our combined income has never been above $100,000 at any time in our lives, and has been much worse. There were times when we were so far in the hole that I hated to answer the phone because of the debt collectors.

But, we continued to make what seemed like good decisions, and we continmud to sacrifice. BMW's? My wife drove a Toyota Starlet and I drove a 1973 Dodge pickup with a home-made wooden bed because the original had rotted away. We picked our house because it had a good assumable mortgage, not because we liked it, and we stayed in it for 21 years.

Gradually, we pulled ahead. One after another of our debts were paid. We still drove tiny cars and old trucks, but we started paying cash for them. Then, I got a chance to buy a small house for a good deal (and a big mortgage) and renovate it for commercial use. I ran a small business out of that location and when I retired, I sold it for a big profit -- and am holding the financing, which is a big chunk of our retirement. We managed to pay down and eventually pay off our mortgage. Along the way, we bought a cabin in the NC mountains for a small down payment, and I fixed it up and eventually sold it for a decent profit, also.

Today, we don't own anyone anything, we own 5 acres in Okeechobee and are planning to finally build the house of our dreams, we are taking long, expensive cruises (26 days from Miami to the Amazon and back last November, 15 days from Barcelona to Rio this coming November, 35 days from Hong Kong to Athens next April), and I drive an RV based on the Sprinter chassis made by Mercedes. However, my wife still drives a little car -- a Scion XA. I have a tractor and a mini-excavator and a bunch of implements. Our retirement income is about $60,000 per year.

Let me repeat -- we have never had a combined income over $100,000, and most years it was far less. Both of our kids went to private colleges.

If someone can't make it on $100,000 per year, there is something wrong with them, not with the system.