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Old 06-28-2018, 01:01 PM
 
7,654 posts, read 5,109,847 times
Reputation: 5036

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Quote:
Originally Posted by emm74 View Post
Seriously, this is a stupid and useless platitude. If you don't earn enough money to pay for basic necessities like food and shelter, how on earth are you supposed to "live below your means"??

That's not saying whether or not that can be done for 60K, but then again, your post wasn't responsive to the thread either
You could live as a homeless person until you have saved up enough money to live without working somewhere else (dividend income off of investments). I would do that if I were not married at this point.

I had no idea how brutal and ruthless regaining my former title and pay would be when I was laid off in January. Not just that but just finding any job in my local area or a professional job in Oklahoma or Texas.

It takes 500k in investments to generate 2k a month in pure passive income. So for every 100k you can save you can make $400 a month doing nothing. Also once you get 30-40k and you are not taking any draws the dividends get reinvested and the money grows faster.

2k a month is ALOT of money in certian areas .... remember this is passive so you now no longer have to care about the job market, only COL.

Unfortunatly for us we have a mortgage so we are completely screwed unless I win the jack pot and snag another professional job.
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Old 06-28-2018, 01:28 PM
 
26,206 posts, read 49,012,208 times
Reputation: 31751
I wish the OP would weigh in with how it's going so far....
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Old 06-28-2018, 01:46 PM
 
Location: Paranoid State
13,044 posts, read 13,857,850 times
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Q: Is $60,000 enough to live in Denver?

A: While the cost of living in Denver has gone up, most of us could live on $60,000 per month.
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Old 06-28-2018, 06:15 PM
 
Location: Taos NM
5,349 posts, read 5,122,453 times
Reputation: 6766
Quote:
Originally Posted by SportyandMisty View Post
Q: Is $60,000 enough to live in Denver?

A: While the cost of living in Denver has gone up, most of us could live on $60,000 per month year?.
I'm doing it right now. I can tell you, it is possible to live pretty comfortably as a single person with no debt. I just can't ever buy a house here.
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Old 06-30-2018, 10:58 AM
 
Location: right here
4,160 posts, read 5,617,892 times
Reputation: 4929
Quote:
Originally Posted by Phil P View Post
I'm doing it right now. I can tell you, it is possible to live pretty comfortably as a single person with no debt. I just can't ever buy a house here.
Stay in Tampa-you will NEVER afford to buy a house here.

Yes i lived in Tampa
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Old 06-30-2018, 05:11 PM
 
8,856 posts, read 6,843,744 times
Reputation: 8651
Quote:
Originally Posted by LHS79 View Post
You should be able to live very well on ANY income if you LIVE BELOW YOUR MEANS.

Most Americans don't have a clue as to what that is- they gotta have all of the goodies now!
This is very true, assuming you have enough for some sort of realistic option. For a single person without debt, I bet $1,200 a month takehome would make it easy in nearly any city.

Let's see. Cheap roommate situation $600 including utilities, groceries $150, transit $100, communication $50, thrift shop clothes $30...leaving $270 for extras, trips, etc., or maybe some of that for a better roommate situation.
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Old 07-02-2018, 08:11 PM
 
Location: Taos NM
5,349 posts, read 5,122,453 times
Reputation: 6766
Quote:
Originally Posted by dnvrsoul View Post
Stay in Tampa-you will NEVER afford to buy a house here.

Yes i lived in Tampa
Well, I'm from CO and moved to Denver so I'm already here .

Yes, it's true, I won't ever be able to afford a house I like here. But I am making decent career upswings during the time I've been here so I'm glad for the time I've spent and will continue to spend, at least for a little while. It's a pretty easy city to live in as a single person.
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