U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 05-25-2012, 07:13 PM
 
829 posts, read 794,544 times
Reputation: 626
Quote:
Originally Posted by Info Guy View Post
We need a topic for $250K or more.
I doubt many of us would be in that thread...
Reply With Quote Quick reply to this message

 
Old 05-25-2012, 07:30 PM
 
4,215 posts, read 2,894,188 times
Reputation: 1516
Quote:
Originally Posted by chicagotodc View Post
I doubt many of us would be in that thread...
You would be surprised.
Reply With Quote Quick reply to this message
 
Old 05-25-2012, 08:17 PM
 
829 posts, read 794,544 times
Reputation: 626
Quote:
Originally Posted by Info Guy View Post
You would be surprised.
Maybe. I used to work on wall street, so I know 250k ain't jack in some circles, but I don't get the impression there's a gluttony of 250k+ here. Besides what's the point... No ones going to seriously suggest 250k a year isn't enough to live on. Heck if you are in that group you should just retire... Didn't you say 10k a year is enough?
Reply With Quote Quick reply to this message
 
Old 05-25-2012, 08:37 PM
 
4,215 posts, read 2,894,188 times
Reputation: 1516
Quote:
Originally Posted by chicagotodc View Post
Maybe. I used to work on wall street, so I know 250k ain't jack in some circles, but I don't get the impression there's a gluttony of 250k+ here. Besides what's the point... No ones going to seriously suggest 250k a year isn't enough to live on. Heck if you are in that group you should just retire... Didn't you say 10k a year is enough?
For some people, $250K is not enough. Pro players are always asking for more millions. I think people who make above that level enjoy their work so they don't want to retire. Money is a magnet for them. $10K a year is enough to live on but the person could be making $50K a year.
Reply With Quote Quick reply to this message
 
Old 05-25-2012, 08:40 PM
 
18,870 posts, read 13,512,067 times
Reputation: 24728
I thought anyone making $90,000 a year would be rolling in dough. Not. I have a student loan. Car payment, rent, and kids...last one in college. If not for her...I would be doing better.
Reply With Quote Quick reply to this message
 
Old 05-25-2012, 08:45 PM
 
829 posts, read 794,544 times
Reputation: 626
Quote:
Originally Posted by jasper12 View Post
I thought anyone making $90,000 a year would be rolling in dough. Not. I have a student loan. Car payment, rent, and kids...last one in college. If not for her...I would be doing better.
Kids will do that to ya...
Reply With Quote Quick reply to this message
 
Old 05-25-2012, 09:25 PM
 
Location: Virginia
5,026 posts, read 6,121,395 times
Reputation: 1720
Quote:
Originally Posted by Thinking-man View Post
Sorry but this isn't even close to 'reality'.
I mean, if you're crazy enough to pay 70k a year for private schools for your kids, then i guess there's never enough money to be made (and spent), but if you're somewhat logical and reasonable, 90k goes a long way....even in this area (DC).

i'm an engineer in the DC area too. started making 47k at 23, was able to buy a condo and live on my own without any roommates...AND save a bunch of money. now, 8 years later, i'm at 140k, married without kids, large house (half paid off) and able to save close to 60k in cash and maxing out 401k. and that's no including wife's salary. hers is saved entirely.
So again, i think it really depends on the way you live, but i strongly disagree with "Round here, $150K as a single person is probably enough to be reasonably comfortable". If you're smart, that's enough to live 'very well', even in this area.
Seriously. My wife and I both work in the DC area (teach for Fairfax County Schools). After 19 years I make about $75k and my wife a little less. We have one child and I'd say we do "ok", but there's not a lot of room for savings. If we both made $90k (an additional 30k+ for our household), I'd be more than comfortable, but neither of us will see $90k for many, many years.
Reply With Quote Quick reply to this message
 
Old 05-25-2012, 10:08 PM
 
Location: Scottsdale, AZ
4,487 posts, read 9,480,731 times
Reputation: 3722
Quote:
Originally Posted by Info Guy View Post
For some people, $250K is not enough. Pro players are always asking for more millions. I think people who make above that level enjoy their work so they don't want to retire. Money is a magnet for them. $10K a year is enough to live on but the person could be making $50K a year.
$250K/ year is enough for ANYONE to live comfortably on. There is NO reason why someone couldn't make that and live quite well.

Of course athletes are asking for asinine amounts of money but most of them are also broke by the time they reach the end of their career. None have learned the values of saving and between an entourage/managers/agents/etc all wanting a share of the pie...many times these pro athletes are forced back to reality once they become a washed-out, has-been.

For anyone to suggest that $250K/ year isn't enough to live comfortably on needs to have their head examined. Even in the most expensive areas of the country, that salary will still buy a nice home with a nice vehicle in the driveway and plenty of food on the table.
Reply With Quote Quick reply to this message
 
Old 05-26-2012, 01:47 AM
 
1,677 posts, read 1,867,934 times
Reputation: 1535
Quote:
Even in the most expensive areas of the country, that salary will still buy a nice home with a nice vehicle in the driveway and plenty of food on the table
There are a few places in the US, I wouldn't want to live in, on 250K... Manahattan and Honolulu are two.
Reply With Quote Quick reply to this message
 
Old 05-26-2012, 06:11 AM
 
829 posts, read 794,544 times
Reputation: 626
Quote:
Originally Posted by tgbwc View Post
Seriously. My wife and I both work in the DC area (teach for Fairfax County Schools). After 19 years I make about $75k and my wife a little less. We have one child and I'd say we do "ok", but there's not a lot of room for savings. If we both made $90k (an additional 30k+ for our household), I'd be more than comfortable, but neither of us will see $90k for many, many years.
Dc here too, in my case DC itself. I don't know how that guy saves 75k a year. I just have to imagine he lives in Warrenton or something, or he bought property when it cost 150k. We make good money, but around here it's just not that much. The average HHI for my zip is over 150k. Fairfax is pretty rich too, I wouldn't be surprised to find a similar average.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $79,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top