Can $90k buy you a comfortable life in Chicago? (houses, neighborhoods)

[MassVt]

Originally Posted by Drover

At my last job, the owner had the following cars: A Mercedes G-wagon, a Porsche 911, a Hummer, and a Mercedes SL500. Did I get upset watching him drive those cars? No I didn't, because it's his capital on the line, not mine -- if the fit hits the shan, I only lose my job while he loses everything. Not to mention he was there 15 hours a day I and I was there for roughly half that time. I'm more risk-averse than he is and I place more value on my leisure time than he does. So I traded stability and fewer hours for a smaller paycheck than his, and we both went home satisfied. If there ever comes a day where I'm no longer willing to make that trade-off, I suppose I can start my own business and pay myself whatever I want.

..although your old boss seemed to be a little obsessed with conspicuous comsumption. An older car that's efficient and reliable is better than a broken-down Mercedes.I guess that I don't feel the need to impress people with visible symbols of wealth, especially unnecessary ones.

Unions and lawyers are both easy targets, sometimes necessarily so. Unions are often accused of padding the true cost of construction projects, protecting incompetence or negligence (i.e. teachers, etc), or being excessively confrontational in their demands. (Ex-the union representing the blue-collar workers of the Boston Globe recently was forced to accept a reduction in salary in order to keep their jobs). With lawyers, there could be the same accusations of driving up the costs of a settlement,or of taking advantage of misfortune ( cases based upon frivolous lawsuits, divorce, "chasing ambulances", etc.).There is certainly enough to go around, but both groups have their good traits, too.

Enough already, though, with the 100-hr weeks ones-up-manship; you're not impressing anyone with it, and it's my guess that the world-at-large really isn't benefiting from it, either.

[Larry Siegel]

Originally Posted by zz4guy

I want to hear from the person making $20k working downtown.

You're not going to. He can't afford a computer.

To the OP: $90K is a good income, but whether you're "comfortable" depends:

Married with kids: It's a start. Keep trying for substantial pay raises.
Married with a second income and no kids: Easy street.
Single: Yes, you can live comfortably.

[chicago103]

Originally Posted by zz4guy

I want to hear from the person making $20k working downtown.

There are plenty of people working downtown who make $20K a year or less, do you think all those fast food restaurants and retail stores are staffed by robots? Also I know plenty of people who live in the city and also own a computer and make around $20K a year. Many people on this board just have no clue how the other half lives.

[dewthedru]

this thread was started 4 years ago!

[emathias]

Originally Posted by chicago103

There are plenty of people working downtown who make $20K a year or less, do you think all those fast food restaurants and retail stores are staffed by robots? Also I know plenty of people who live in the city and also own a computer and make around $20K a year. Many people on this board just have no clue how the other half lives.

I know a number of people who make at or a little above $20k/year and work in or near the Loop. Most of them are 20-somethings, a lot of them gay. They just get used to making the trade-offs. If you can keep your housing under $600/month, your taxes will be somewhere in the range of $200/month (including FICA), most have a phone in the range of $70/month, utilities in the $40/range, CTA pass around $90, so they have about $660/month for living expenses. That's not a lot, but it's certainly enough to get food and a few basic clothes. A lot of them also manage to save a little or send extra to their parents overseas. And as they improve their income with steadier work or better wages they really know the value of the dollars they earn so they're better at saving them or even investing them in side ventures.

Is it a life of comfort and leisure? Not at all. Is it a life that can still has moments of happiness with friends and beauty of life in general? Absolutely. I think around $20k/year for a single person is sort of the minimum you need to start to build a life without help from others, and it does need to increase at least a bit over time, but it's totally possible, even if in no way enviable.

[EastBoundandDownChick]

This whole thread is funny. Especially the part where people get all hung up about the flashy cars. Having things that like are nice but at what cost? It is not a luxury to have a new Benz if you have no balance in your life, no time for friends or family. I live in the Gold Coast and could afford a new car but don't need one... therefore I don't have one. Why? To impress people? True luxury is buying things for the joy and the comfort it brings you personally. I shun individuals who think their clothes, property, or vehicles make them who they are. It is a sign of weakness.

[dewthedru]

I agree with the girl bragging about living in the Gold Coast. True happiness doesn't come from having an expensive car or living like a boss in a flashy neighborhood. LOL!

[EastBoundandDownChick]

I'm not bragging about living in the neighborhood I do, it's simply where I reside. Talk about judging people, sheesh

[dewthedru]

Heh. Perhaps. But your point was obliterated by the mention of your neighborhood.

[Vlajos]

Originally Posted by dewthedru

Heh. Perhaps. But your point was obliterated by the mention of your neighborhood.

Do you know her rent payment?