What's a comfortable salary?

[FDG]

60k a year after taxes.

Yeah that's a lot of money. I only know one who does but he lives in Norway, where the cost of living is sky high.

 

[DiscoBiscuit]

At least, not well. Poor people sort of stick to their own, and rich people tend to do the same.

Very true. One of the reasons my highschool GF and I broke up was that (in her words) "She would never fit in with the yacht club crowd, and I would never fit in with the far west Jax rednecks".

As shitty as it sounds, having a (relatively) similar background can be really important to connecting with someone.

 

[kyuuei]

Very true. One of the reasons my highschool GF and I broke up was that (in her words) "She would never fit in with the yacht club crowd, and I would never fit in with the far west Jax rednecks".

As shitty as it sounds, having a (relatively) similar background can be really important to connecting with someone.

Yeah. While I wouldn't say it's the most important.. it is something you'd have to be willing to actively work toward.

I am more comfortable dating people that aren't high maintenance.. I don't really want a dude more high maintenance than me. I mean, I could work on it definitely if a guy is good and worth it, no problem. But do I really have a desire to right now? Not really. Luckily I don't need to. While my current boyfriend has family more well off than I'm used to seeing, and grew up vastly different from me.. his mentality and the way he personally thinks is very different from his parents' lifestyles, and that makes it easy.

It is rather important, even if it isn't the most PC and optimistic thing to think about.

 

[FDG]

Okay, but a very large part of the population is composed of people who aren't either members of the yacht club or rednecks living in the woods (nothing wrong with either, btw). And they also somewhat "stick to their own" living in normal houses, going from time to time to the restaurant or having one vacation per year, etc.

From my perspective, I think cascadeco's breakdown was very good and something I may see as valid for most people I personally interact with on a daily basis.

 

[DiscoBiscuit]

Okay, but a very large part of the population is composed of people who aren't either members of the yacht club or rednecks living in the woods (nothing wrong with either, btw).

Very true.

 

[ceecee]

It's fun figuring out how to minimize ones tax liability. I have a friend named ROTH you should get to know.

Absolutely.

 

[DiscoBiscuit]

I wrote $500,000 in business this week.

That's comfortable.

 

[kelric]

I wrote $500,000 in business this week.

That's comfortable.

What is it that you're doing these days, Disco? I know you've moved around a bit in the last few years. That is quite a nice-sounding number... I'm assuming that it's some sort of gross sales value?

 

[DiscoBiscuit]

What is it that you're doing these days, Disco? I know you've moved around a bit in the last few years. That is quite a nice-sounding number... I'm assuming that it's some sort of gross sales value?

Financial Advisor with Waddell & Reed.

That's assets under management (AUM) . Set up a couple of large Managed Allocation Portfolios (MAP) this week.

Been working on one of the cases for about a month (which alone should bring in about $1.1mm in AUM eventually). And the other case I banged out in a day because the client wasn't from town and can only get to our office so frequently.

Just trying to focus on tomorrow and not get blinded by the pot of gold at the end of the rainbow.

EDIT - What about you [MENTION=994]kelric[/MENTION] what do you do??

 

[kyuuei]

I literally know nothing about financial investments and all that. I have a ROTH I contribute to occasionally, a traditional IRA that I've had via the army, and a single google stock.

My grand master plan is just to set up my living arrangements in such a way so that by the time I even get started in a career of some sort, I'll be massively debt free and owning everything.. so all of the income can be allocated into various savings and interests.

 

[kelric]

Financial Advisor with Waddell & Reed.

That's assets under management (AUM) . Set up a couple of large Managed Allocation Portfolios (MAP) this week.

Been working on one of the cases for about a month (which alone should bring in about $1.1mm in AUM eventually). And the other case I banged out in a day because the client wasn't from town and can only get to our office so frequently.

Just trying to focus on tomorrow and not get blinded by the pot of gold at the end of the rainbow.

EDIT - What about you [MENTION=994]kelric[/MENTION] what do you do??

Ah, that makes sense.

I'm a software developer -- currently I'm on a contract building web and database integration systems for a utility company. Not a "get rich" type of occupation, but so far it's treated me pretty well.

 

[xisnotx]

I don't even know what a salary is anymore...
How the hell do I get people to give me money?
I make $0. Whatever.

Anyway...in the city that I live in right now, I'd be able to live off of 18,000 relatively comfortably. After tax.

That's 1500 each month.
500 for room.
200 for utilities/entertainment.
150 for gas (or, i'd take the bus...i'm not paying more than 150 for gas)
50 for insurance.
200 for food.
Some for clothes.
Healthcare is free for the next couple years for me...
and ???
Won't be paying off my student loans til I'm through grad school...

I guess I'm not a high expense type of guy.

Of course...I'm not willing to work 40 hours a week to get 18,000. You'd have to double that for me to even get out of bed in the morning. Which is why I make $0. Sleeping in for me is worth at least $35,000..

 

[xisnotx]

The way I see it, money is a means, not an end. I really don't care too much about money. What I need to live comfortably is..

Food, Clothes, Shelter, Transportation, Entertainment, Healthcare, Education.

So, my "grand master plan" is to simply prioritize the above and let the money/capital ( and other resources..land, labor, 'enterprise'..) work to produce that. I don't really concentrate too much on money to be honest...

And so far...even though I make exactly $0...I'm not hungry, I have clothes, there's a roof over my head, I have a car (two cars, actually...), the Internet is my entertainment...as is TV...and I like to dance (which if free), Healthcare is free for me (until I'm 26 or something), and I have a degree...

So, even though I have no idea how this will continue on into the future...
I didn't know how it would in the past, either...
And yet I'm still doing alright.

Besides...my future has nothing to do with money. Money isn't an end for me...I have bigger things I'm after.

 

[guesswho]

lol i was born in the wrong fucking country I suppose

 

[prplchknz]

my monthly bills
$600 rent
20$ for internet which is divided by 4 so-$5
280$- for groceries
100$ for gas (probably less I fill up every 2 weeks and it's about 40$)
about 50$ for electric
$200 for med stuff
$200 for cigs (yeah I should quit and save money)
$100 for miscellanecous
$8 for netflix (what i use instead of cable)

so for me a comfortable salary would be 1550 a month

 

[lunareclipze]

Yeah, it's all dependent on where you live. Where I live (Canada) I'd say a comfortable salary for the average person living on their own would be at least $25-30k a year.

 

[figsfiggyfigs]

Yeah, it's all dependent on where you live. Where I live (Canada) I'd say a comfortable salary for the average person living on their own would be at least $25-30k a year.

WHERE in canada can you live on that ?

 

[lunareclipze]

WHERE in canada can you live on that ?

I live in southern Ontario, and if I were living on my own that would probably be enough for me.

 

[baccheion]

Rent = average rent in the area for the type of place you'd be renting..

Minimum/miserable: rent x 3 x 12
Better: rent x 3.5 x 12
Comfortable: rent x 5 x 12
Happy: rent x 5.75 x 12

For example, in San Francisco, CA the average rent for a 1 bedroom is now $2,897.00!!!!

Minimum/miserable: $2,897.00 x 3 x 12 = $105K
Better: $2,897.00 x 3.5 x 12 = $122K
Comfortable: $2,897.00 x 5 x 12 = $174K
Happy: $2,897.00 x 5.75 x 12 = $200K

Or, in Ontario, CA the average rent for a 1 bedroom is $810.00.

Minimum/miserable: $810.00 x 3 x 12 = $30K
Better: $810.00 x 3.5 x 12 = $35K
Comfortable: $810.00 x 5 x 12 = $49K
Happy: $810.00 x 5.75 x 12 = $56K

my monthly bills
$600 rent
20$ for internet which is divided by 4 so-$5
280$- for groceries
100$ for gas (probably less I fill up every 2 weeks and it's about 40$)
about 50$ for electric
$200 for med stuff
$200 for cigs (yeah I should quit and save money)
$100 for miscellanecous
$8 for netflix (what i use instead of cable)

so for me a comfortable salary would be 1550 a month

You forgot savings! You should be saving 20%, meaning the $1,558.00 in expenses would be 80% of your income after taxes. That means income of $1,947.50 after taxes, which would be about $2,750.00 before taxes, or $33K per year.

 

[Chthonic]

I average about $4000 a month, in a high month can make $4,800. Current expenses

Rent $1280 per month
Food $480 per month
Petrol $30 per month
Utilities about $120 per month
Total Expenses $2100

Basics I need about $3600 per month, comfortable $4600. Over that the extra effort to top $5k just isn't worth it for me in payoff terms. So I aim for the $4500 a month after tax.