REMINDER: THE ARENA PLATFORM, INC. has no obligation to monitor the Forums. However, THE ARENA PLATFORM, INC. reserves the right to review any materials submitted to or posted on the Forums, and remove, delete, redact or otherwise modify such materials, in its sole discretion and for any reason whatsoever, at any time and from time to time, without notice or further obligation to you. THE ARENA PLATFORM, INC. has no obligation to display or post any materials provided by you. THE ARENA PLATFORM, INC. reserves the right to disclose, at any time and from time to time, any information or materials that we deem necessary or appropriate to satisfy any applicable law, regulation, contract obligation, legal or dispute process or government request. Click on the following hyperlinks to further read the applicable Privacy Policy and Terms of Use.

Sidebar Sidebar

What do you consider a comfortable annual salary?

B

bluemarlin04

Michael Peterson status
Aug 13, 2015
2,565
2,383
113
It’s not the salary but the monthly expenses

My mortgage for my cottage down the road from the beach In Hawai’i is 3,000 per month. 3 bed 2 bath. Has some drawbacks but it works.

Your income relative to your expenses is what will make you comfortable.

If I got about 1000 a week for stuff like groceries, food, gas, travel that’s comfortable to me.

 
S

Sharkbiscuit

Duke status
Aug 6, 2003
26,709
19,656
113
Jacksonville Beach
Sharkbiscuit said:
Racer1 said:
I had a number in my head that I thought would be comfortable. When I got there it still didn't seem enough. The only way things started to feel different is when you live frugal and majority of your income goes into savings. Once you start putting 50%+++ into savings and that starts snowballing, then it feels different. It's not what you buy that feels different, it's what you save that feels significant.

My income is taking a hit right now, the ups and downs of self employment, but the savings I did over the past few years when times were good is keeping me cool. Income will go back up again and I'll be even more frugal.
Click to expand...
My gig is the SEC East in November, but here goes:

If you are putting money down Saturday, I kind of like the under, and I'd take the points with a gun to my head.
Click to expand...

 
GromsDad

GromsDad

Duke status
Jan 21, 2014
54,822
16,693
113
West of the Atlantic. East of the ICW.
ko25ok said:
It’s not the salary but the monthly expenses

My mortgage for my cottage down the road from the beach In Hawai’i is 3,000 per month. 3 bed 2 bath. Has some drawbacks but it works.

Your income relative to your expenses is what will make you comfortable.

If I got about 1000 a week for stuff like groceries, food, gas, travel that’s comfortable to me.
Click to expand...
Exactly. My housing costs are very low which makes everything else possible. Took on a car payment last year for the first time in a decade and hindsight being 20/20 I wish I hadn't because that new vehicle is cutting into my funds for doing fun stuff. Rather do fun stuff than have a nice SUV that I'll drive less than 10,000 miles a year. The lower you can keep your expenses the better.
 
W

waxhead

Legend (inyourownmind)
Mar 31, 2009
444
339
63
When my mom was in her mid eighties I asked her how much money she thought a person needed to be financially secure. She was born in 1930 in the south and grew up in the shadow of the depression. Struggled most of her life with very little to no money. Later together we worked a small business and did ok. Parkinson's left her bedridden at the end, but her mind was sharp. She thought about the question, then said 40 million. I spent some time wondering why she came up with that number but decided it was right on.
 
racer1

racer1

Tom Curren status
Apr 16, 2014
12,966
15,053
113
Honolulu, Hawaii
In the movie "This Is 40" there's a scene with record producer Paul Rudd and musician Graham Parker. Paul is freaking out because Graham's new album didn't sell very many copies. Graham totally doesn't give a sh!t and says he'll be fine because he has a small nut (very low overhead). Rudd starts freaking out more because he says he has a very large nut.

Always thought that was Judd Apatow trying to tell people something.
 
john4surf

john4surf

Kelly Slater status
May 28, 2005
9,007
3,734
113
CBS, CA
Havoc4k said:
obslop said:
gromsdad is 100% correct [never thought i'd type that. lol.]

overhead vs. income

assets - liabilities
Click to expand...

this!

how many ppl make $350k+ a year and spend $355k in overhead and liabilities
Click to expand...
Realistically, when my earnings passed annual $300K salary and bonus, the government took $100K in taxes (even with 401K and ‘catch up’ deductions). My wife handled family finances and paid off the house in a few years and I finally said enough (of the government’s hand in my pocket) and retired. Never looked back!
 
$kully

$kully

Duke status
Feb 27, 2009
60,293
17,095
113
It's all relative to where you live and the cost of living. Here in LA I earn enough to live a good life but I'm still not a homeowner. Waiting on that crash. The day I take the plunge I anticipate being house poor for a while and making a lot of sacrifices to the charmed life I've been living.
 
ElOgro

ElOgro

Duke status
Dec 3, 2010
32,201
12,177
113
I think there is a question one needs to answer first, at what age do you want to stop working and what do you plan on doing. Are you making status quo money and satisfied with that until you retire with equity and a bag of golf clubs and your own cart?
 
jamesgang

jamesgang

Miki Dora status
Aug 9, 2006
3,979
1,062
113
Location Location
ko25ok said:
It’s not the salary but the monthly expenses

My mortgage for my cottage down the road from the beach In Hawai’i is 3,000 per month. 3 bed 2 bath. Has some drawbacks but it works.

Your income relative to your expenses is what will make you comfortable.

If I got about 1000 a week for stuff like groceries, food, gas, travel that’s comfortable to me.
Click to expand...
I'm in the same boat pretty much, mortgage on 3+2 Hawaii house with view of ocean and mountains, remodeled myself, is $2700. Fifteen minute drive to Sunset Beach. Living in van while working has saved me so much money.

It's the kids that are killing me (I still love them).
 
B

bluemarlin04

Michael Peterson status
Aug 13, 2015
2,565
2,383
113
youcantbeserious said:
ko25ok said:
It’s not the salary but the monthly expenses

My mortgage for my cottage down the road from the beach In Hawai’i is 3,000 per month. 3 bed 2 bath. Has some drawbacks but it works.

Your income relative to your expenses is what will make you comfortable.

If I got about 1000 a week for stuff like groceries, food, gas, travel that’s comfortable to me.
Click to expand...
I'm in the same boat pretty much, mortgage on 3+2 Hawaii house with view of ocean and mountains, remodeled myself, is $2700. Fifteen minute drive to Sunset Beach. Living in van while working has saved me so much money.

It's the kids that are killing me (I still love them).
Click to expand...
Funny you mention the van.

The way I was able to save up 170k for a down payment and closing costs was my wife and I lived in a 900 dollar a month 400 SF studio for 3 years.

We saved up the load and the dropped it on a home
 
You must log in or register to reply here.

Share this page

Share this page
Top Bottom