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What do you consider to be a "good" salary? - Page 6

post #101 of 125

Everyone thinks they'd be satisfied with a little more, but not everyone is living at/below/almost below the poverty level :lol: There's an enormous difference between a $30K household believing a little more would do the trick--and a $140K household believe that. For someone like me, it's the difference between whether we have enough food or can handle a car breaking down or me missing a week of work due to the flu or even pay the light bill on time. :/

post #102 of 125

Yes of course. We've been there when DH graduated.. At the poverty line or below extra income really DOES increase happiness and life quality. The funny thing is, people keep thinking that a little more, and then a little more, would make them even more happy, even after the poverty is in the past and they are pretty well of. At some point the opposite happens though and a little more starts to make them a little less happy.

post #103 of 125

80k-100k, depending on where in the state of MA. A little more than 100k to live IN Boston proper. It has it's benefits though and I love this state, lol.


 

post #104 of 125

my city's col index hovers right around 100, and the average home is about $150,000, while the average income is about $45,000 per household.  not bad at all.

 

we're currently making about $32,000 per year, between my husband's disability payments and my full-time job.  however, our medical insurance is paid through my job, and that eats an appalling two-thirds of my paycheck.faint.gif  and my husband's condition requires health insurance to cover his expenses.

 

before my husband got sick and had to quit working, i was a sahm and dh was making right around $40,000.  we could pay our expenses, but not really save anything-- no emergency fund, no college fund, not much for retirement.  i'd like to think that if our household income was around $60,000, we'd be able to pay our expenses, and fund those savings i mentioned.  however, i know that my dh is not willing to live as frugally as i'm willing to live.  he's not a compulsive spender or anything like that, but he likes to eat out, he likes his convenience items, and is something of a gadget chaser.  so, as our income increases, more of that increase will tend to go toward spending than toward saving.

 

christina

post #105 of 125
Quote:
Originally Posted by cristina47454 View Post




Would you mind me asking where in MA you were? And where you moved to? Just curious bcs we are in MA currently.  We will probably be moving to CT bcs of dh's job, but CT is not much better.  We looked at CO awhile back, seemed to be lower COL.  Kind of feel like we're on a hamster wheel and maybe we should think hard about getting off, which it sounds like you did.

 

We were south of Boston -- I worked in Cambridge, dh worked on the Cape at one of the science institutes.  We were in Plymouth for a while and then moved down to Falmouth/WoodsHole for a while.  We struggled to find housing and moved often because of the summer time tourist season.  We could get a place to live for Sept-May, but then our rent would triple during the summer.  People could get $1000 a week for a decent summer cottage and were not interested in renting to us year round.  So, we ended up in awful rentals with 9 month contracts.  $1500 a month Sept-May -- $1000 a week Jun, Jul and Aug.  

 

We are living in MD now.  Not the cheapest place to live, but we are out in the country away from the more expensive city centers.  We lucked into a very, very affordable house and dh has good work as a scientist.  If (and when) we make another move, it will be to an even lower col area.  People in this industry move a lot -- we simply have to go where the jobs are.  But I will never move back to New England.  

 

 

 

post #106 of 125
Quote:
Originally Posted by SithLadyFred View Post

80k-100k, depending on where in the state of MA. A little more than 100k to live IN Boston proper. It has it's benefits though and I love this state, lol.


 


I love to hear people say this.  I realize I slammed MA and I didn't mean to.  I think if we had had more cash, I would have liked it a LOT more.  It was a beautiful state and the cities had so much to offer.  I was just so cold and hungry all the time that my memories are really negative.  

 

I feel like I should go visit Boston again and see it through different eyes.  And with big, fat wallet of cash.  winky.gif

post #107 of 125

DH and I are both in school and well below the poverty line now.  However, when we graduate, we will be rolling in student loans, need newish cars (that work) and hopefully find a permanent dwelling.  I figure when we finish, we will need 50-60K to get by (if we do buy a house) and more to make it more comfortable.

post #108 of 125

I think to live comfortably with two kids (we don't have any yet, would eventually like 2-4) in our area, including owning a house, we'd want to make about 60-70k on one income (to have a SAHP to homeschool).  I'm not comfortable with the schools in our area, and around here private school is REALLY expensive here. (like 20-25 k for elementary, up to about 30k for high school). Maybe a few of the elementary schools, but we'd like to homeschool anyways.  We make 15-20k, and it is NOT ENOUGH for the two of us.  My parents pay my healthcare, our car insurance, and own my car (still from when I was a teen), my partner has no healthcare, and has some dental work that desperately needs to be done that we can't afford.  I'm going back to school next year, because we are headed nowhere financially.

 

Where we are is a VERY high COL area.  We'd like someday (maybe 8-10 years) to move to somewhere small town/rural, low cost of living area.

post #109 of 125

We live in a low COL area, but our house & property taxes are a huge chunk of our income.  DH makes over $100k and I am SAHM.  We have 3 kids that we call money sponges.  If he made less, they would have less activities and I suppose I would have to work.  4 years ago he was in the Marine Corps and we made $60K (including housing allowance) .

post #110 of 125

It's funny. Dh just got a new job - so new we have yet to get his first paycheck.  But for the first time in two years+ I KNOW how much his paycheck will be and I KNOW that it is enough to cover our expenses. These past two years have been terribly hard and I was beginning to think that this was just going to be our life. Now that I KNOW we are basically OK (minus enough money to fund savings right now but enough for sinking funds and a smallish but consistent debt snowball) I am breathing so much easier. I am a more engaged mother, a person who happily cleans the  house and meal plans...I didn't even realize how stressed and depressed I was until that crush of financial burden had lifted.

 

So I agree with the statements about living at or below poverty level where bumps in income really do make a difference in happiness.  I wonder where the number is that increased income starts to adversely impact a family...

post #111 of 125
Quote:
Originally Posted by cristina47454 View Post

I wonder where the number is that increased income starts to adversely impact a family...


DH & I had this very conversation with another couple (close friends) earlier this year. The other husband said he read a study that showed $60K was that magic number, but that the $60K was an average across the U.S. We were discussing how different COL areas would adjust that $60K.

 

post #112 of 125
Quote:
Originally Posted by cristina47454 View Post

 

 

So I agree with the statements about living at or below poverty level where bumps in income really do make a difference in happiness.  I wonder where the number is that increased income starts to adversely impact a family...



From what I've read it doesn't sound like a higher household income produces a negative impact it just that once your basic needs and a few of your wants are met more money will not further reduce your stress or improve outcome. 

 

post #113 of 125
Quote:
Originally Posted by moonfirefaery View Post

Everyone thinks they'd be satisfied with a little more, but not everyone is living at/below/almost below the poverty level :lol: There's an enormous difference between a $30K household believing a little more would do the trick--and a $140K household believe that. For someone like me, it's the difference between whether we have enough food or can handle a car breaking down or me missing a week of work due to the flu or even pay the light bill on time. :/



Precisely our case... the numbers required to make that very thing happen in our area is astronomical AND there's no REAL jobs to be had. Speaking of which, I'm sooooo crossing my fingers right now that our van tires last just a liiiiittle bit longer. Our entire income is dedicated to food, shelter and gas. There just is nothing more.

 

post #114 of 125

Dh made between 80,000 and 100,000 until about a year ago. He's a welder and was on the road and decided to get a permanent job. It's been great having him home but it cut our income by about 60%. It's been an adjustment living with less. We're not very good at saving and budgeting. The COL in our town is 79 and the average income is almost $34,000. Sometimes I wish we had been better with the extra that he was making.

post #115 of 125


 

Quote:
Originally Posted by earthmama369 View Post

If we didn't have so much medical debt, I'd say $60K would be a comfortable income level for our area. We're in a pretty high COL state and starter homes in most areas are around $200,000.



we're in the same state and I'd agree, but I'd bump it to $75k.  At $75k I could be comfortable, not panic every month, and actually have a savings account that had more than the $5 it requires to keep it open.  I don't have credit card debt (yay for being smart on that at least) no car payments-but that's going to have to change soon.  Really we're in an okay position on that front...but we really need $6k a month-after taxes-to cover our butts and breathe.  We don't make that.  lol.gif

 

My sis (same state) has three kids and a comfy life....not in debt-but not able to do extravagant things either, smart purchases etc. and they're in the $110K range.  She doesn't feel that she can do a ton, but she never worries about bills. 

 

We're in a starter home at $200k.  That's 1400 square feet, 3 bedroom, 1.5 baths in livable condition on .17 acres.  $200k doesn't go very far here.

post #116 of 125
Quote:
Originally Posted by Panserbjorne View Post


 



we're in the same state and I'd agree, but I'd bump it to $75k.  At $75k I could be comfortable, not panic every month, and actually have a savings account that had more than the $5 it requires to keep it open.  I don't have credit card debt (yay for being smart on that at least) no car payments-but that's going to have to change soon.  Really we're in an okay position on that front...but we really need $6k a month-after taxes-to cover our butts and breathe.  We don't make that.  lol.gif

 

My sis (same state) has three kids and a comfy life....not in debt-but not able to do extravagant things either, smart purchases etc. and they're in the $110K range.  She doesn't feel that she can do a ton, but she never worries about bills. 

 

We're in a starter home at $200k.  That's 1400 square feet, 3 bedroom, 1.5 baths in livable condition on .17 acres.  $200k doesn't go very far here.


I'm jealous lol.gif. My house is about 850 sq feet 2 bedroom 1 bath on .09 of an acre (according to Zillow) is currently valued at 420K (again according to Zillow who runs low for property here). And I've gotta say $420K for a house around here is actually pretty much a starter/deal.

200K would get you a garage. Maybe.
post #117 of 125


 

Quote:
Originally Posted by Chamomile Girl View Post



Quote:
Originally Posted by Panserbjorne View Post


 



we're in the same state and I'd agree, but I'd bump it to $75k.  At $75k I could be comfortable, not panic every month, and actually have a savings account that had more than the $5 it requires to keep it open.  I don't have credit card debt (yay for being smart on that at least) no car payments-but that's going to have to change soon.  Really we're in an okay position on that front...but we really need $6k a month-after taxes-to cover our butts and breathe.  We don't make that.  lol.gif

 

My sis (same state) has three kids and a comfy life....not in debt-but not able to do extravagant things either, smart purchases etc. and they're in the $110K range.  She doesn't feel that she can do a ton, but she never worries about bills. 

 

We're in a starter home at $200k.  That's 1400 square feet, 3 bedroom, 1.5 baths in livable condition on .17 acres.  $200k doesn't go very far here.




I'm jealous lol.gif. My house is about 850 sq feet 2 bedroom 1 bath on .09 of an acre (according to Zillow) is currently valued at 420K (again according to Zillow who runs low for property here). And I've gotta say $420K for a house around here is actually pretty much a starter/deal.

200K would get you a garage. Maybe.



the house across the street is for sale!  lol.gif

post #118 of 125
Quote:
Originally Posted by Panserbjorne View Post


 




the house across the street is for sale!  lol.gif


Tempting! But it would be a hell of a commute.duck.gif
post #119 of 125

I live in a high COL urban area and to have a solidly middle class lifestyle (no scrimping, safe neighborhood) you need at least $200,000 (for a decent sized family anyway --single individual maybe 100k).

post #120 of 125

Where we live now(Georgia) we'd be ok at about 70K. (assuming we didn't have debt)  But where we're from, and where we're going back to, is Northern Virginia and we'd need significantly more. At least 100K. And that's not even considering buying a house. No way, jose, we'd need way more. Homes are expensive up there!

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