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What is your household's yearly income? - Page 5

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 #81 of 124
At first I was surprised how many make over $95k, but then again, that's not a whole lot of money in high COL areas. We happen to live in a low COL area. Here you can get a nice 4 bdrm house for around $200k, whereas some people on this thread have stated $500k would get them a shack. It's all relative. What does surprise me, though, is how many families can get by on $20 - $30 k.
post #82 of 124
I'm not a SAHM per se, but I have my own business back home which I manage from here, so that makes me WOHM I guess??
It really varies what I make per year, last year it was $70k I think, but I mean it was a good year.

I won't say how much SO makes, but it varies as well. He has his own company and he's currently investing in a new one, so what he makes per year is not stable as well.
post #83 of 124
Dh now makes more than we used to with both of us working. The big difference for us is that now we have student loan debt.

I do not like student loan debt. I'd be less bothered by it if I'd finished my degree (and had any possible chance of doing so in the future, which I don't, at least not in the field I have most of my credits in.)
post #84 of 124
Quote:
Originally Posted by rightkindofme View Post
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.
I was until I saw your location. $250k around here would be enough to live very comfortably for 5 years without any other income coming in. I mean with a big vacation every year and leasing a car and eating out and other luxury items.
post #85 of 124
Quote:
Originally Posted by sapphire_chan View Post
I was until I saw your location. $250k around here would be enough to live very comfortably for 5 years without any other income coming in. I mean with a big vacation every year and leasing a car and eating out and other luxury items.
At the time I quit working that was our entire savings/retirement/401k/school savings beginning/everything. We don't have that much 'sitting around' and it would be extremely difficult and bad tax wise to touch most of that prematurely. Our on-hand cash is quite a bit more modest.
post #86 of 124
We live on a VERY low income,under $600 a month for cash(ds's SSI) and around $500 in food stamps.We used to get welfare but they require you to go to work immedialty or go into their 30 hour a week program,but I can't do that right now.There is no child care available for dd(11 is too old around here),and ds would need speciallized care that there is no way I could afford.Most of the hours are during school,but they'd need someone for before and after for a little while.There is help,but I would still have to pay for a lot of it.I'm waiting for SSI for myself,it's been over a year and a half.My drs don't want me working.Thankfully we live in my dad's apartment house so we pay no rent right now.It's a struggle to pay the bills,only gas and electric.I share my dad's phone line,I'm on my mom's cell phone plan,my dad's internet,and my dad's satellite tv.It's going to be really hard this Sept,I usually shop all the thrift stores for the kids back to school clothes,and this year they require uniforms only,for public school. With ds being a husky little one it's going to be hard to find him pants I can not only afford,but that he will wear with his sensory issues.I have nothing for emergencies.We rarely get to go anywhere unless it's free.Ds recently needed shoes and that was a big expense for me.But we're doing it.Exh pays nothing for child support so i don't even have that to help me.Thankfully I have my parents to help me out.
post #87 of 124
we live on about 14,000 a year, so that's a little over a thousand a month. there are 6 of us.

we were fortunate enough to be able to get into the low-income housing in our area, since market rent for a three bedroom townhome would be between 800 and 900 a month. we pay around 400 a month for rent.

we use our income tax refunds to pay our cell phone bill and internet for the year in advance. we are able to live fairly comfortably after that, since those are really the only bills we have. (electric, heat, and water are included in the rent.)

we both drive trucks, so gas bills are pretty high, but at the moment there isn't much i can do about it. neither is worth anything in a trade in, and i really do need the suburban because of driving various kids to therapy and so on.

we also get about 500 a month in food stamps, and are on the state healthcare, since mal-wart's insurance plan is far too expensive for what DH actually makes.

i ended up becoming a SAHM more by default than planning, partly b/c of our DS's disabilities and partly b/c of the lousy availability of jobs in our area, but i like being a SAHM.

next year, it looks like i'll be homeschooling DS#2, so i'll continue being a SAHM for the foreseeable future
post #88 of 124
DH SHOULD make $21,000 a year if he got to work his scheduled hours each week. Probably makes more like $18,000. I stay at home and we do struggle financially. But I stay home for two reasons 1) I want to be the one to educate my children 2) My husband cannot drive because he is legally blind. And his hours are unpredictable and he usually doesn't get off work until well after public transportation is shut down. So I have to take him to and from work. It is pretty much impossible for me to work since I have to drop what I'm doing twice a day to get DH. We do receive some assistance. We have Medicaid on the kids and we get Food Stamps. We actually qualify for a whole lot more (WIC, Section 8, LIHEAP, Lifeline) but we don't take it right now. If our situation got worse in the future, we might.
post #89 of 124
Quote:
Originally Posted by Pearl H View Post
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).
I'm not all that surprised by this. However, I did pick a spouse knowing that I wanted to stay home. I picked a husband that made enough money to support us both. I think that when a man has a higher income the woman is more likely to stay home, simply because it can be afforded. We live in a high COL area where you have to make over $100k in order to buy a home.
post #90 of 124
We also live in a very high COL area - average house prices in our city are $750K, and average incomes are just under 100K. DH is self employed so he pays himself a salary, then pays me a dividend. When we were both working, he made 3-4X what I was making, so it totally makes sense for him to work and for me to stay home. I think with two kids, childcare would eat up at least half of what I could make, then there would be the extra meals out, take-out, convenience food, clothing, transportation, etc. There certainly are days I feel like I'm not cut out to be a SAHM, and am now thinking about what I want to do when DS starts K in Sept of next year. Hopefully something part time, and flexible hours / ability to do some work from home would be nice.
post #91 of 124
Quote:
Originally Posted by sanguine_speed View Post
Your income would not be combined to push you into a higher tax bracket. This is how single-income families are penalized relative to dual-income famililes.
For instance, 2 people making $50,000 each will pay less tax in total than one person making $100,000 a year. Your incomes don't just add together to give you a tax rate-you are each taxed individually.
That's only true if you're comparing a single person to two single people, or filing as "head of household" which would be both illegal and stupid for a married couple to do. Here are the numbers for a total income of $100k (not counting deductions and all that jazz):

Married filing jointly, earning $50,000 each: $17362.50
Total for two single people, earning $50,000 each: $17362.50
Married filing separately, earning $50,000 each:$17362.50

Amount for one single person earning $100,000: $21709.25
Amount for married filing jointly earning $100,000 and $0 respectively:$17362.50
Amount for one "head of household" earning $100,000:$19847.50


Remember that the US uses increasing percentage rates. So if your income goes into the next bracket you only pay the higher percentage on the amount that is over the bracket.

E.g. for the 2010 brackets, a family making $75,000 (married filed jointly) was paying 10% on $16,750 of income, 15% on $51,250 ($68k-$16750), and 25% on $7,000 ($75k-$68k).

They don't go from paying 15% on $68k to paying 25% on $75k.
post #92 of 124
Quote:
Originally Posted by thatgirliknew View Post
DH SHOULD make $21,000 a year if he got to work his scheduled hours each week. Probably makes more like $18,000. I stay at home and we do struggle financially. But I stay home for two reasons 1) I want to be the one to educate my children 2) My husband cannot drive because he is legally blind. And his hours are unpredictable and he usually doesn't get off work until well after public transportation is shut down. So I have to take him to and from work. It is pretty much impossible for me to work since I have to drop what I'm doing twice a day to get DH. We do receive some assistance. We have Medicaid on the kids and we get Food Stamps. We actually qualify for a whole lot more (WIC, Section 8, LIHEAP, Lifeline) but we don't take it right now. If our situation got worse in the future, we might.
As a person who has paid income taxes in the past and whose family's take home money is affected by the taxes on dh's income, I think you should take more benefits.

Seriously, our social welfare system is there in the first place for people who work for horrible companies (not enough hours and unreliable hours) and for people with disabilities. It would be awesome if in some indirect way the tax money we all pay could go towards getting your family the stuff you would be able to buy yourselves if your dh's work actually let him work.
post #93 of 124
Quote:
Originally Posted by ticklemegreen View Post
Just curious what everyone annual income is. Do you struggle financially because you stay at home? Do you have any sort of government assistance?

I'm currently staying at home with my dd and I would like to be able to stay home with her long enough to home school her a few years, but I don't know that our finances will allow it.
My husband works for $10 an hour, about 40 hours per week. We live in a very high cost of living area (to support just our family of four, and not be below poverty level here, he would have to earn $25/hour), and 20% of his take home income is gone for child support. We do use public assistance. I don't use the WIC we qualify for anymore because it just isn't worth the hassle and interrogation regarding my parenting choices, but we do use Denali Kid Care (state medical insurance) and Qwest (food money).

I've been a stay at home mom since our fist one was born nearly 5 years ago. We don't own a home. I do own a mobile home we bought when our first was 6 weeks old and we pay lot rent and we pay ~$400 a year in property taxes on the home itself. We do have a debt we're paying off slowly but surely due to my husband's ex wife filing bankruptcy and their joint bills being sent to my husband to pay. We hope to get that paid off in about 3 years and start saving up for a real house with some semblance of a yard. I am going to continue staying at home until both kids are in school full time, and then I'll only work part time while they're in school. I doubt any money I earn will lend us a profit, after transportation costs and our likely loss of all food and health insurance aid.
post #94 of 124
Quote:
Originally Posted by ~Purity♥Lake~ View Post
I doubt any money I earn will lend us a profit, after transportation costs and our likely loss of all food and health insurance aid.


this is our issue, too. once you factor in childcare, and loss of food stamps and healthcare, it's just not even worth it to work. i've done the math, and it works out to our having LESS money to live on if i were to go to work.

i do pick up cash jobs here and there, babysitting and that sort of thing, but it's few and far between. that is by no means a steady thing, so it's just a nice bonus to get an extra 20 or 30 dollars once every couple months.
post #95 of 124
Quote:
Originally Posted by Abraisme View Post
I'm not all that surprised by this. However, I did pick a spouse knowing that I wanted to stay home. I picked a husband that made enough money to support us both. I think that when a man has a higher income the woman is more likely to stay home, simply because it can be afforded. We live in a high COL area where you have to make over $100k in order to buy a home.
I know this is an old post, but yikes! Did you really "pick" your husband because he made a lot of money!? That seems very, um, businesslike.

Sorry .

I live in a very high COL area too, and I just figure I'll never own a home . Even with two incomes its going to take us about 15 years to pay off our college debt. With only his it will never ever happen. I guess it's all about priorities.
post #96 of 124
Quote:
Originally Posted by Chamomile Girl View Post
I know this is an old post, but yikes! Did you really "pick" your husband because he made a lot of money!? That seems very, um, businesslike.

Sorry .
Eh, it's not really any different than picking a husband based on any other criteria. Im sure she loves her husband for much more than the money he makes. I don't really say I "picked" my husband but one of the many reasons I was (and am) attracted to him was the fact that he works very hard and that generally translates to making more money. I really don't think I would have married/had children with a man that wasn't willing to work hard to support his family.
post #97 of 124
Quote:
Originally Posted by simple life View Post
I missed the single part . I think it's much easier to find a way to stay home being partnered. I don't know how a person would do it as a single person, that would be super hard!

I was a single mother by choice with my oldest child. I quit my full-time job and opened a licensed day care in my home. After business expenses I cleared about $20,000 per year. I was on WIC as a bf mom until she was about a year, but received no other government aid beyond the earned income credit, and no child support. I married when dd1 was almost 4 and my family's financial situation has gone down hill since.
post #98 of 124
post #99 of 124
We live in a high COL area. We moved from a slightly less high COL area. (We live in San Francisco Bay Area now, moved from Seattle.) We're not in that top bracket but we're close. In this area, we couldn't pay for reasonable daycare on what I make in a year, which is why I'm a SAHM.

We do what we can to keep costs down. My car is a '98 Nissan - I'm the second owner. My husband drives a '06 Subaru because he has the commute and needs better gas milage. The Subaru is a must because we have dogs and needed the space to put them and baby in the car. We rent here, owned in Seattle. (The rent-or-own in Seattle was comparable, owning here is far, far more expensive than renting. We pay $2,200 for a 1600 sq ft 2 bed, 1 bath with a small yard for the dogs - the house next door sold earlier this year for $600,000 and the yard was been bricked-in to make a patio.) We don't eat out, don't go on trips, don't drive when it is not necessary (doctors and work). We have some other things we won't do, though, that raise our expenses. We won't shop at Wal-Mart, we eat organic as much as possible, we have food issues, and a lot of specific things we need to avoid. We get around this as much as possible by making things at home, shopping online for a better price or selection (I tell you, my Amazon Prime membership with free 2-day shipping has paid for itself several times over).

My husband and I both grew up poor. My mother was a schoolteacher and my father decided he didn't want to work after I was about 9 (my brothers were 2 and 4, so he wanted to be a SAHD - but sent them to daycare, too). We lived on my mother's Texas teacher's salary - which wasn't much. My father kicked me out really young (13) and then did what he could to take things from me. (For example; he cleaned out my bank account when I was 16. I had several thousand dollars in there from working really crappy jobs and had been saving up for college. When I asked the bank why they let him do it they said "Well, he had a copy of your birth certificate showing that he was your father." Last time I dealt with Wells Fargo.) So I started with nothing, repeatedly had my family clean me out and then it went from bad to worse - I married young to someone who lied and stole when he could. I worked three jobs to keep him in good health (diabetic that would rather buy pot than his insulin) and got out of that marriage with even less than I started it with. My husband has a similar back story - step father that collected SSI in his name and made him sign the checks, made him work and took the paychecks, made him buy his own food as a high school student, do laundry at a laundromat on his own dime, (edited to remove information; pm me if you need to discuss.) We're slowly getting things in order - debts paid off or down, life simplified. I've got to say, the best money-managing tool I've found is a partner with similar wants, desires and drives.

You bet I picked my husband based on his interest in earning money, shared values, debt management desires in addition to being handsome, sweet, funny and uh... some other things. I chose my first husband based on "but I love him!" and didn't realize that he should have been someone I dated, realized we weren't compatible for cohabitation, stayed friends with and never married. It may sound very business-like to some people but running a house is a business!
post #100 of 124
I stay at home with my 4 yr old and 17m old. We make the mid-range for income. I can't believe so many people make over $95 grand!! I just had to say wow!

We also live in a high COL area (gas is $3.59, milk is $5.99, you get the picture). But, we live in a small cabin, don't have running water, get all of our clothes used, have used cars (really, is there any other kind? ) and "use it up, wear it out, make it do or do without". Right now we are building a bigger cabin (2 stories! Running water! Yay!) on our land and that is sucking a lot of our money away. My main personal expenses come down to books, yarn, and "real" food (fresh vegs, fruit, meat, coffee). I should probably work on that but I have a hard time giving up things that make me happy.

DP is in the local laborers union, he has a good paying job=works on the pipeline. I never finished college, he's never been, but we own our own home and imho we do pretty well for Alaskan transplants.
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