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  1. #11
    Senior Member OptoGypsy's Avatar
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    This is how I calculated the cost of living life the way I want to live it:
    Housing: $2,000
    Food: $540
    Transportation: $620
    Health Care: $1,000
    Other Necessities: $2,000
    Taxes: $840
    Monthly Total: 7,000
    Annual Total: 84,000

  2. #12
    Senior Member cafe's Avatar
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    Quote Originally Posted by OptoGypsy View Post
    This is how I calculated the cost of living life the way I want to live it:
    Housing: $2,000
    Food: $540
    Transportation: $620
    Health Care: $1,000
    Other Necessities: $2,000
    Taxes: $840
    Monthly Total: 7,000
    Annual Total: 84,000
    That'd be comfy and then some anyplace in the US, I'd think.
    “There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.”
    ~ John Rogers

  3. #13
    Emperor/Dictator kyuuei's Avatar
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    Quote Originally Posted by OptoGypsy View Post
    This is how I calculated the cost of living life the way I want to live it:
    Housing: $2,000
    Food: $540
    Transportation: $620
    Health Care: $1,000
    Other Necessities: $2,000
    Taxes: $840
    Monthly Total: 7,000
    Annual Total: 84,000
    FAR beyond comfortable. $1,000 for healthcare? You can get some pretty bad ass coverage for more than half of that.. Unless you have a family. $2,000 for housing? Maybe. If you live in a decent area of a large city. The food budget sounds luxurious. Transportation is very very luxurious there. $2000 for other necessities?!

    At least you factored in taxes, which you will definitely pay at that bracket. I hope you're getting an amazing education for that salary level..

    Just something to keep in mind though... More money, more problems. I don't just mean the money--I mean the commitments you make with that money. A house is a LOT of time and repairs. It takes active effort to maintain. The bigger the house, the more it is to heat it, cool it, care for it, and clean it. A nice car requires a lot of nice bills--and time. An $84,000 a year job usually requires a lot of personal time.. having a large house, a nice car, a time-demanding job.. you'll be pretty absorbed in your own financial situation with all of that. You'll probably end up needing that health care plan. You'll probably be spending that $2k on hired help to get things done occasionally. Or maybe you'll meet a nice person that'll help you with all of that. Who knows. And Gods forbid you lose your job somehow, and you have all of those commitments, with no savings plan set up in there.

    But I dreamt pretty big when I was younger.. and my dreams collapsed when I really got into the real world and saw how much work I did for how little money I got. I say look for a job you love first. And let everything else fall into place. There aren't a lot of really fun, awesome $80k+ jobs out there. At least, not right away. Maybe when you're at a company a long long time.. but the ones that pay money right off the bat are harsh. In several ways.

    Right now, I'm working extremely hard to build a house that costs less than $10k on a small acreage. And I've never been happier with anything else I dreamed about. A big house looks really nice--and it is. But those big houses are awful echo-y, and lonely, and they drain money and time and energy. Building one slowly over time, definitely is awesome and worth it. But.. You're talking very, very luxurious living. And aside from scoring an awesome rap solo, I don't really see that being a viable 'comfortable' budget.
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  4. #14
    Senior Member Qre:us's Avatar
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    Quote Originally Posted by OptoGypsy View Post
    This is how I calculated the cost of living life the way I want to live it:
    Housing: $2,000
    Food: $540
    Transportation: $620
    Health Care: $1,000
    Other Necessities: $2,000
    Taxes: $840
    Monthly Total: 7,000
    Annual Total: 84,000
    Where are your savings? Retirement funds? Investments? Unexpected expenses? Leisure spending?

    Save. Save! Start as young as you can. And don't just save it in a piggy bank. Look into investing. Owning your own property is a good investment too, if you buy right. You don't need to live in it. Rent it out.

    But, seriously, save. And except for big investments, that appreciate in value (like property), avoid having a debt.

  5. #15
    pathwise dependent FDG's Avatar
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    I'd say around 45-50k euros gross is a good salary for 2 people to live on (where I live now, western Germany).

    Optogypsy, I gather you're talking about net salary, since you're not considering taxes?

    Save. Save! Start as young as you can
    Why, he's not saying he wants to retire early.

    Moreover, property appreciating in value? Depends on where you live, in the last 20 years properties have taken some strong hits.
    ENTj 7-3-8 sx/sp

  6. #16
    Senior Member OptoGypsy's Avatar
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    Quote Originally Posted by kyuuei View Post
    FAR beyond comfortable. $1,000 for healthcare? You can get some pretty bad ass coverage for more than half of that.. Unless you have a family. $2,000 for housing? Maybe. If you live in a decent area of a large city. The food budget sounds luxurious. Transportation is very very luxurious there. $2000 for other necessities?!

    At least you factored in taxes, which you will definitely pay at that bracket. I hope you're getting an amazing education for that salary level..

    Just something to keep in mind though... More money, more problems. I don't just mean the money--I mean the commitments you make with that money. A house is a LOT of time and repairs. It takes active effort to maintain. The bigger the house, the more it is to heat it, cool it, care for it, and clean it. A nice car requires a lot of nice bills--and time. An $84,000 a year job usually requires a lot of personal time.. having a large house, a nice car, a time-demanding job.. you'll be pretty absorbed in your own financial situation with all of that. You'll probably end up needing that health care plan. You'll probably be spending that $2k on hired help to get things done occasionally. Or maybe you'll meet a nice person that'll help you with all of that. Who knows. And Gods forbid you lose your job somehow, and you have all of those commitments, with no savings plan set up in there.

    But I dreamt pretty big when I was younger.. and my dreams collapsed when I really got into the real world and saw how much work I did for how little money I got. I say look for a job you love first. And let everything else fall into place. There aren't a lot of really fun, awesome $80k+ jobs out there. At least, not right away. Maybe when you're at a company a long long time.. but the ones that pay money right off the bat are harsh. In several ways.

    Right now, I'm working extremely hard to build a house that costs less than $10k on a small acreage. And I've never been happier with anything else I dreamed about. A big house looks really nice--and it is. But those big houses are awful echo-y, and lonely, and they drain money and time and energy. Building one slowly over time, definitely is awesome and worth it. But.. You're talking very, very luxurious living. And aside from scoring an awesome rap solo, I don't really see that being a viable 'comfortable' budget.
    I've decided to go for a Market Research Analyst, Salary: $60,000
    Housing: Build my own place: 3 Bedrooms, Kitchen, 2 Bathrooms, Laundry Room, Home Entertainment room: Cost $360,000 Break that down to 30 years, Each year= 12,000 Each Month: $1,000
    Food: $400
    Transportation: Car: $290 Gas: $160 Total: $450
    Health Care: $500
    Fun(Clothing): $850
    Investments: $500
    Stock Market: $400
    Other Necessities: $300
    Taxes: $600
    Monthly Total: $5,000
    Annual Total: $60,000

    I hope to Die before I retire, how far are you on the house?

  7. #17
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by kyuuei View Post
    Just something to keep in mind though... More money, more problems. I don't just mean the money--I mean the commitments you make with that money. A house is a LOT of time and repairs. It takes active effort to maintain. The bigger the house, the more it is to heat it, cool it, care for it, and clean it. A nice car requires a lot of nice bills--and time. An $84,000 a year job usually requires a lot of personal time.. having a large house, a nice car, a time-demanding job.. you'll be pretty absorbed in your own financial situation with all of that. You'll probably end up needing that health care plan. You'll probably be spending that $2k on hired help to get things done occasionally. Or maybe you'll meet a nice person that'll help you with all of that. Who knows. And Gods forbid you lose your job somehow, and you have all of those commitments, with no savings plan set up in there.
    That's some good advice. You may end up having a nice house, a nice car, but have no time to enjoy them.
    ENTj 7-3-8 sx/sp

  8. #18
    Emperor/Dictator kyuuei's Avatar
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    Quote Originally Posted by OptoGypsy View Post
    I've decided to go for a Market Research Analyst, Salary: $60,000
    Housing: Build my own place: 3 Bedrooms, Kitchen, 2 Bathrooms, Laundry Room, Home Entertainment room: Cost $360,000 Break that down to 30 years, Each year= 12,000 Each Month: $1,000
    Food: $400
    Transportation: Car: $290 Gas: $160 Total: $450
    Health Care: $500
    Fun(Clothing): $850
    Investments: $500
    Stock Market: $400
    Other Necessities: $300
    Taxes: $600
    Monthly Total: $5,000
    Annual Total: $60,000

    I hope to Die before I retire, how far are you on the house?
    Far from done. And remember life comes in stages. You'll be in the college stage for a long while. That $60k salary doesn't come tomorrow.

    Start out small. There are lots of resources for college students on investing their money, saving their money, and how to balance a school-style budget without going into debt. Investments mean more RIGHT NOW than they do years from now. A little bit of money right now does more work for you than lots of money at the age of 40/50 ever will. You'll start out much, much smaller.. Balancing scholarships with living costs, conserving money with meal plans, trying to buy a beater car, etc.

    Quote Originally Posted by FDG View Post
    That's some good advice. You may end up having a nice house, a nice car, but have no time to enjoy them.
    ^ Precisely. It's no fun if you can't enjoy it.
    Kantgirl: Just say "I'm feminine and I'll punch anyone who says otherwise!"
    Halla74: Think your way through the world. Feel your way through life.

    Cimarron: maybe Prpl will be your girl-bud
    prplchknz: i don't like it

    In Search Of... ... Kiwi Sketch Art ... Dream Journal ... Kyuuei's Cook book ... Kyu's Tiny House Blog ... Minimalist Challenge ... Kyu's Savings Challenge

  9. #19
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    LOL, a lot of not knowing how much things cost in this thread. 12% tax rate? Interest-free mortgage?

  10. #20
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    For me by myself, 50K would get the job done.

    I wouldn't consider myself comfortable (as I define it) until I was up to 100k.

    Gotta love those Jacksonville property values!


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