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What is your household's yearly income? - Page 4

Poll Results: What is your households yearly income?

 
  • 10% (62)
    Less than $25,000
  • 11% (66)
    $25,000 - $35,000
  • 12% (73)
    $35,000 - $45,000
  • 10% (62)
    $45,000 - $55,000
  • 9% (54)
    $55,000 - $65,000
  • 12% (72)
    $65,000 - $75,000
  • 11% (69)
    $85,000 - $95,000
  • 23% (139)
    $95,000 or more
597 Total Votes  
post #61 of 124
Quote:
Originally Posted by slylives View Post
I was raised in a very working class household, and money was always tight. In fact my mother confessed recently that they nearly had their home repossessed when I was about 13. The prospect of ever being back in such a precarious situation is horrifying to me.
My parents lost their home three times when I was a kid. The first two times I was just a baby and had no clue what was going on (I'm the oldest). The next time they sat us kids down, explained what was going on and wanted to know if we wanted to go to school (we were homeschooled) and have Mom get a job. As a family, we decided that having mom home with us was the most important thing. Even after a string of very temporary homes before purchasing their forever home we always agreed that having mom home with us was most important for our family.

As a mother myself I have slowly come to realize the same priorities for my family. I've worked out of the home, in the home, opposite shift of my DH, and to us it just isn't worth it. I refuse to let money take me away from my babies, I refuse to let money be the center of my life.
post #62 of 124
Quote:
Originally Posted by Paigekitten View Post
My parents lost their home three times when I was a kid. The first two times I was just a baby and had no clue what was going on (I'm the oldest). The next time they sat us kids down, explained what was going on and wanted to know if we wanted to go to school (we were homeschooled) and have Mom get a job. As a family, we decided that having mom home with us was the most important thing. Even after a string of very temporary homes before purchasing their forever home we always agreed that having mom home with us was most important for our family.

As a mother myself I have slowly come to realize the same priorities for my family. I've worked out of the home, in the home, opposite shift of my DH, and to us it just isn't worth it. I refuse to let money take me away from my babies, I refuse to let money be the center of my life.

Different strokes for different folks. I see having financial security as one of the most important things I owe to any children I choose to bring into this world. And I would imagine that if you're living on the cusp of foreclosure, money is at the center of your life. My parents both worked and things were still very tight for us - and honestly if we had been looking at the prospect of losing our home while one parent chose not to earn money, I would want them to go to work.
post #63 of 124
Quote:
Originally Posted by slylives View Post
Different strokes for different folks. I see having financial security as one of the most important things I owe to any children I choose to bring into this world. And I would imagine that if you're living on the cusp of foreclosure, money is at the center of your life. My parents both worked and things were still very tight for us - and honestly if we had been looking at the prospect of losing our home while one parent chose not to earn money, I would want them to go to work.
That's awesome that your whole family was on the same page. I am happy with the choices my parents made, I am trying to include my own children in how we structure our family priorities.

I brought my children into this world to have them experience love and happiness and joy. If they can only do that while living at a certain level of financial security then I would find a way make that happen. If having me home with them is what they need then that is what I will give them.

Also, I never said my mother chose not to earn money, I said our family chose to not have her get a job outside of the home. Huge difference. She did bring in an income through my whole childhood, most often through doing in home daycare.
post #64 of 124
Quote:
Originally Posted by That Is Nice View Post
I'm really surprised that so many of you mentioned investments and investment income.

DH and I have always made a pretty good income. But, other than retirement, we simply have never had investments because we've never had the extra money for investments.
Our main investment is in the form of a co-majority ownership in a company my husband started with a partner about five years ago. When they started, it was two years of hell. He worked a full time job that he hated and built the company at nights with my help, along with help from family members, neighbours, etc. We didn't have kids at the time and I continued to be a self-employed artist which paid my share of our living expenses but not easily and with nothing left over. At the time, I didn't take his endeavor that seriously so it took two years of him working 18 hour days before I clued in and gave up my business to take a job that paid more plus benefits, etc, so that he could quit his day job and focus on the business.

Now he's left that business to start another but still owns almost half of the first. It has done extremely well to the point that we were able to pay off our mortgage by selling just a tiny portion of our shares to another investor. If things continue the way they are, the business will sell and we'll make more money off of that than any job that we are qualified for could ever pay us.

All that to say that investments can come in unusual and surprising ways and don't necessarily require money to make money. Those early years felt like hell but in retrospect it was just a blink compared to the return we'll get on the sweat equity DH put in.
post #65 of 124
Take home is about 24,000 a year (2000 a month). Gross about 28,000 (2400 a month).

We get WIC for the baby and for me (pregnant), and the baby and I are both on FAMIS insurance (me only during the pregnancy). But that's the only assistance.

Things are tight, for sure. But we live pretty modestly. We try to do things the cheap way wherever we can-- I make most of our food from scratch, including bread. Breastfeeding and cloth diapering helped a lot, too. I'm always plottin on ways to save money

I'll go back to work after both kids are school-age. So the penny-pinching won't last forever.


ETA: After skimming the rest of the thread-- all income is from him working, no inheritance or savings or investments. We don't have any debt (credit card or student loan). We're not very young, but he never went to college and I went for two years so far on grants, scholarships, and working, no loans. We've just never had credit cards, I feel like it would be too dangerous. We rent. The car is paid for (all 3000 bucks of it, haha). Our bills are pretty basic. We're in a pretty low COL area, I think-- a cheap house here is like 120, nice one maybe 250-300? We do want to buy a house when I start working again, but for right now it definitely is not happening, we're just getting by.
post #66 of 124
Anyone else surprised by the poll? That so many people make $95k plus?

In response to investments:
We spend about a third of our net and invest the rest. We live way below our means. I feel financially secure and feel good that I don't need to buy things to feel happy. Because we save so much, we can afford to buy anything that we want (except a multi-million dollar home, don't want a yacht or jet, hehe).
post #67 of 124
DH makes about 23,000 a year before taxes. That said we don't have a lot of expenses so it makes being a SAHM easier for both of us. We own both our cars outright and will drive them into the ground before we get a new one. We don't have any student loans and I cook a lot from scratch and garden to cut our grocery costs.

We don't have any investments or anything like that although I know I will be getting an inheritance from my grandparents and DD will have her entire college experience paid for by her great-grandparents. A gift I will never be able to thank them enough for.

Somehow we are always broke though. We are both absolutely terrible at saving money. Awful really. DH is worse than I am but I am not great. We are young so I am working hard to correct it so we can start saving for retirement. My mother will be selling us her house in 10 years roughly so I am trying to start saving up for that a bit.

I guess we just aren't concerned in any real way with material possessions or financial wealth in general. I could easily go to work and make more money than DH but I want to be with DD and I have DH's full support. I would rather stay with DD than have a couple extra hundred dollars a week. I guess we are also somewhat unique in this country because we don't have any interest in constantly buying the newest and shiniest whatever.
post #68 of 124
I'm amazed at how little so many of you are able to get by on! Just shows what a wide range there is in COL. I'm also in the Twin Cities and housing in good areas can be expensive (for the midwest anyway). I'm guessing that a lot of the people with the lower incomes rent, because homeownership is seriously expensive - not just mortgage costs, but it seems something always needs doing around the house. DH freelances and makes over $100k but a good chunk of that goes to taxes and healthcare. We don't have nearly enough savings but are working on it.
post #69 of 124
Our income took a big dip when I stopped working, but amazingly we have made it work so far and it really doesn't feel that different. It is amazing how much "stuff" you don't need in order to be happy.
post #70 of 124
Quote:
Originally Posted by slylives View Post
and honestly if we had been looking at the prospect of losing our home while one parent chose not to earn money, I would want them to go to work.
I know very few families in which one parent chooses not to earn money. It's a family decision.
post #71 of 124
Quote:
Originally Posted by Storm Bride View Post
I know very few families in which one parent chooses not to earn money. It's a family decision.
Regardless of whether or not the decision rests with the family or the individual, my point is that I would not have wanted a parent to sacrifice our financial security in order to stay home. And I would not do it myself, either.
post #72 of 124
Quote:
Originally Posted by slylives View Post
Regardless of whether or not the decision rests with the family or the individual, my point is that I would not have wanted a parent to sacrifice our financial security in order to stay home. And I would not do it myself, either.
Fair enough. But, honestly, I don't think anyone really knows what they'd want in such a situation unless they've been there. I was home for a few months when ds1 was about 5, which was definitely financially precarious (no worries about losing our house as we never owned one - but definitely some concerns about losing phone service, and things like that). I did have to go back, because my ex wasn't bringing enough home ot live on. However, ds1 was very upset when I went back, even though my being home had limited his food choices, a few opportunities at school, etc. What a person (the child or the adult) would prefer in that kind of situation depends on a lot of variables.

We're not in a good financial situation in many ways. Fortunately for me, I can't make enough money to cover childcare, so it's not an issue.
post #73 of 124
I haven't read the replies, but I did want to say that I found it interesting that the income spread is fairly even among the brackets. I often have wondered what sort of people were attracted to MDC, and clearly, it isn't income level that puts us all on a similar philosophical track.

I was a poor kid, and being poor now scares me, and I'm thankful it's not really an issue. We are comfortable. But, at the same time, I am very thankful for my upbringing. It was good for me, and I trust that there are worse things than a lack of money. Really, in retrospect, it wasn't that big of a deal (for me). And I agree that being with my children as much as possible trumps financial security. People are always more important than things. Surely there are some very basic needs that must be met, but most things we, as a society, feel we need are truly wants. Food, clothing, shelter, and companionship will do nicely. Good nutrition and healthcare are always a bonus. College savings, extra-cirriculars, vacations, experiences, etc just aren't needs.
post #74 of 124
Quote:
Originally Posted by Just1More View Post
And I agree that being with my children as much as possible trumps financial security. People are always more important than things. Surely there are some very basic needs that must be met, but most things we, as a society, feel we need are truly wants. Food, clothing, shelter, and companionship will do nicely. Good nutrition and healthcare are always a bonus. College savings, extra-cirriculars, vacations, experiences, etc just aren't needs.
And while I love our house, lots of things count as shelter....tents, rvs, apartments, friends/parents homes. There are VERY few material possessions that would make me leave behind a crying, clinging baby in the name of financial security.
post #75 of 124
Quote:
Originally Posted by Just1More View Post
I haven't read the replies, but I did want to say that I found it interesting that the income spread is fairly even among the brackets. I often have wondered what sort of people were attracted to MDC, and clearly, it isn't income level that puts us all on a similar philosophical track.

I was a poor kid, and being poor now scares me, and I'm thankful it's not really an issue. We are comfortable. But, at the same time, I am very thankful for my upbringing. It was good for me, and I trust that there are worse things than a lack of money. Really, in retrospect, it wasn't that big of a deal (for me). And I agree that being with my children as much as possible trumps financial security. People are always more important than things. Surely there are some very basic needs that must be met, but most things we, as a society, feel we need are truly wants. Food, clothing, shelter, and companionship will do nicely. Good nutrition and healthcare are always a bonus. College savings, extra-cirriculars, vacations, experiences, etc just aren't needs.
Could have written this post. I way agree.
post #76 of 124
I grew up poor too. If I were facing that life for my kids, I'd be back to work in a New York minute. Cockaroaches everywhere, drive bys, drug trade, gangs, hungry nights and mornings, unable to buy winter shoes when my shoes would literally have holes in them. Absolutely not a life I'd want for my kids.

We are very thankfully comfortable, and I know I and many people have gone on to good things despite where we grew up, but I can't say any of us are in a hurry to get back to that life and would fight tooth and nail to avoid it for ourselves and families.
post #77 of 124
Quote:
Originally Posted by Joyster View Post
I grew up poor too. If I were facing that life for my kids, I'd be back to work in a New York minute. Cockaroaches everywhere, drive bys, drug trade, gangs, hungry nights and mornings, unable to buy winter shoes when my shoes would literally have holes in them. Absolutely not a life I'd want for my kids.

We are very thankfully comfortable, and I know I and many people have gone on to good things despite where we grew up, but I can't say any of us are in a hurry to get back to that life and would fight tooth and nail to avoid it for ourselves and families.
I can totally understand that, but poor doesn't always mean drive-bys and drug trade, yk? That kind of thing really varies from region to region.

I totally understand why people want financial security, but...I have a friend who grew up poor (and her dad was a dealer). She's always wanted kids, but she wanted financial security first. She's got it - she worked her butt off to get herself into a financially secure position and now owns her own mortgage brokerage. She owns her own house (a huge accomplishment around here - buying a house is out of reach of almost everyone), and a vacation property outside of town. She's also 39, and still doesn't have kids. She's going to start ttc in the next few months. And, the reality is that I know a lot of people her/my age who waited...and a very high percentage of them (over 50%) have ended up with serious feritility problems. I don't think she was wrong to want financial security - I've never had much money, but I've also always had family to fall back on in a real jam (like when my mom loaned me the legal fees to get my divorce). She doesn't have that luxury.

Of course, I went the other way. If I hadn't married my ex, I'd have owned a place almost 20 years ago, before the market skyrocketed, and would be in a pretty good financial place right now. So, putting financial security first may have blown up on my friend...and putting the intangibles first kind of blew up on me. I don't think there's a single right answer, yk?
post #78 of 124
I think that part of it is that 'financial security' means very different things to different people. Owning your own home does not necessarily equal financial security. It can actually cause serious problems financially if you are right on the border. Different people 'need' different amounts of money. I will freely admit that my 'safety' level is a lot higher than most peoples. Before I was willing to stay home I wanted us to have no debt other than the mortgage and I wanted the mortgage to be about 1/4 of my husbands take home pay. I also had a very strong preference that we have around $250k in some kind of savings/investments before I quit. That is a HUGE bar that is going to be insurmountable to most people. That was what *I* needed. Do I think that everyone needs to have the same goals? Oh heck no. That would be saying that most people in this country aren't allowed to stay home, ever and I'm not actually that kind of bigot.

I live in a very very expensive area. I have a wide variety of advantages. It also helps that the kind of guys I have always dated/been attracted to are hardcore computer geeks and they tend to have the potential to be very financially secure if they manage their money at all well. I'm really good at managing money so I help with that part. It also helps that I've always liked men who were older than me and more established. (How's that for evolution in action? Good provider!) But if I liked different men I would have made it work. *shrug*
post #79 of 124
I don't think that me working full time would help us financially. My dh makes $80,000 and works 55+ hours a week. I freelance and earn around $10,000. We did a little number crunching to see how much take home pay we would have if I had a job with the same hours and pay. Childcare and taxes would eat up around $60,000, so right off the bat I'm only taking home 25% of my hard earned cash. Transportation, housecleaning, convenience foods, nice work clothes etc would eat up at least $10,000-$15,000 of the rest. So after all that we would have an extra $5,000 to save, which is less than I make teaching piano lessons and singing church gigs. Of course this doesn't include career trajectory or anything. If in 15 years dh and I are both partners or something and each earning $250,000 a year, that would be a huge chunk of change. But really, who needs that kind of cash? For our family the benefit of having a SAHM outweighs the potential for huge earnings.
post #80 of 124


We've never known any different, I've been a SAHM since my daughter was born almost 7years ago. We live in a very high COL area. My dh lost his job and was jobless for the first 6months of our daughter's life and we struggled but never applied for assistance at all.

Dh has a good and stable enough job that we were able to save up a decent sized down payment and buy a brand new car 3years ago.

We don't own our own home yet, we rent a small 2bedroom house.

We have a decent sized car payment ,and a decent chunk of cc debt.

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