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If you can't live comfortably with even $50k a year then you have a spending problem. It is not your income. $100k would be luxury and yes even in cities like SF you can do well on it.
If you can't live comfortably with even $50k a year then you have a spending problem. It is not your income. $100k would be luxury and yes even in cities like SF you can do well on it.
The point is that $100k doesn't afford you to wealthy lifestyle. When the term "six figure salary" meant something, it did.
Today, an equivalent salary would be about $400,000 - $1.2 million.
The point is that $100k doesn't afford you to wealthy lifestyle. When the term "six figure salary" meant something, it did.
Today, an equivalent salary would be about $400,000 - $1.2 million.
For a single person, no kid, no dependents. $100k is luxury. Besides, it’s what you do with that money. You could be investing a big chunk of that in the stock market for future gains. Many people have retired much early by earning under $100k.
Sure you can, but the odds are exponentially less making $40k vs. making $200k.
It comes down to discipline and goals. It’s what you do with money that matters.
A $200k earning could be spending it all until the next check on disposable items while the the $40k earner invests 50% of their income into index funds and lives frugally.
I would also say that $2 million is the new $1 million.
If you want to buy a nice house in a desirable neighborhood of a high COL city or metro area, you’re going to be looking at a price tag of around $2 million to start.
Not in Texas. Here you can buy that for around $250k.
For a single person, no kid, no dependents. $100k is luxury. Besides, it’s what you do with that money. You could be investing a big chunk of that in the stock market for future gains. Many people have retired much early by earning under $100k.
No matter what you do with your $100k today, you can't live like you could in the 1970s when the term six figure salary was popular (it actually date back to the 1950s... hence the range). Back then, you could live a fairly wealthy lifestyle.
What's "luxury" is an opinion. You may have lower ambitions and consider $100k luxury while others may reach higher.
No matter what you do with your $100k today, you can't live like you could in the 1970s when the term six figure salary was popular (it actually date back to the 1950s... hence the range). Back then, you could live a fairly wealthy lifestyle.
What's "luxury" is an opinion. You may have lower ambitions and consider $100k luxury while others may reach higher.
You do understand that an individual worker in USA earns nowhere close to $100k right? So $100k would be luxury and even more so in LCOL area. Many luxury lifestyles do not need to high spending. There are many hacks.
The biggest cost is rent/mortgage. So you can do rent/house hacking and your biggest expense is cut in half which gives you more buyer power.
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