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If I were single, I'd need about $60k (which is what I voted for). If I have to include my husband, it would have to be either $100k, or more. Also, that's only if we stayed in the Northern Virginia area - I'm sure we could live quite comfortably on much less elsewhere.
1 What could you live on? $40k
2 What could you live on COMFORTABLY? $80k
3 What is a good income for you? $180k+
Of course, the first two figures would be lower if I didn't have a dh and kids. The third number is good tho either way. As our income slides up the scale, I've learned not to put a ceiling on it... as income rises, so does our lifestyle. And it's easy to become accustomed to "the finer things". The first time I stayed in a $100/nt hotel, I thought I was in HEAVEN (compared to Motel 6 - $40/nt). But now I can find fault in a $200/nt hotel without trying. Anything higher and I'd probably have to change who I am.
Have to agree with sskkc on this one. I see more than one question here. We can live on $40k or less now but we like living at $100k+. However, unlike sskkc, our lifestyle has not increased with our income so we're not really living on $100k, we save a lot and paying extra on the house so effectively we're living on $40k now. However, when the house is paid for..... PARTY TIME!!!! Given all the factors, I'd say we'd be more than comfortable at $60-$80k long term.
Depends, I could live on about 60k without changing my lifestyle...like socking away a good third of it, going out to eat a good bit, affording my rent/loans, and have padding left. More is always better though to jump that savings.
I'm not really sure. We have about $6000/month in bills (mortgages/cars/student loans...no credit cards though! LOL)... so we'd need at LEAST that much take-home... plus $1000/mo or so for food/gas/additional expenses at a bare minimum. I'd hate to not have much of a cushion though.
Have to agree with sskkc on this one. I see more than one question here. We can live on $40k or less now but we like living at $100k+. However, unlike sskkc, our lifestyle has not increased with our income so we're not really living on $100k, we save a lot and paying extra on the house so effectively we're living on $40k now. However, when the house is paid for..... PARTY TIME!!!! Given all the factors, I'd say we'd be more than comfortable at $60-$80k long term.
Hear the words of wisdom!!
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