Current Events > $100,000 a year, isn't not a lot of money where I live

(+) Yeah! (+)

https://www.youtube.com/watch?v=k5abCDqzdhM

Where do you live?

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Its a perfectly comfortable salary, tf you mean?

Not choosing to have kids definitely helps with expenses.

Cocytus posted...

Where do you live?

Seattle

Lonestar2000 posted...

Not choosing to have kids definitely helps with expenses.

Messed up thing to say, but true.

If 100k isn't enough, you need to move.

Haejin posted...

Messed up thing to say, but true.

How so? Kids are a want, not a need. It could even be argued they are a luxury item.

There are loads of places where that'd be a fortune, and likewise a load of places where you'd struggle with rent.

Lonestar2000 posted...

How so? Kids are a want, not a need. It could even be argued they are a luxury item.

Messed up because some societies (ours) claims to want to encourage people to want to have children. If so, then it's bad for kids to be seen as a luxurious item rather than a normal part of society with the environment that's capable of supporting them.

It's pretty good where I live. My wife and I each make less than half that

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Most Millennials probably wont own a house anytime soon. Where do you live?

emblem-man posted...

Messed up because some societies (ours) claims to want to encourage people to want to have children. If so, then it's bad for kids to be seen as a luxurious item rather than a normal part of society with the environment that's capable of supporting them.

They do cost a lot though.

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Youre already at that point in your life to where your partner gets to stay at home and take care of the household. Youre living large compared to most in this economy.

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Oof. Yeah buying a house there is pretty impossible unless youre loaded.

You could live like a king with that salary if single with no kids where I live.

I make about 70k in Los Angeles and I'm pretty much paycheck to paycheck. My tax return helped pad my checking account, but it dwindles more and more each month.

ArchonKnight posted...

I make about 70k in Los Angeles and I'm pretty much paycheck to paycheck. My tax return helped pad my checking account, but it dwindles more and more each month.

Wow, that's crazy.

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You sound like a good boss.

Its below my cities median wage. It goes quick too. Living in SF that lasts about 6-8 months

STEROLIZER posted...

Its below my cities median wage. It goes quick too. Living in SF that lasts about 6-8 months

Well yeah. Most millennials in SF live with 2-3 roommates in an ok sized apartment.

LonelyStoner posted...

Well yeah. Most millennials in SF live with 2-3 roommates in an ok sized apartment.

I pay 2,800 for a studio

STEROLIZER posted...

I pay 2,800 for a studio

Holy fuck lmao. But even then $100k a year is plenty to live comfortably in SF.

I feel like there's pre- and post-covid income disparity. $100k is a lot if you had bought a house/car/etc... before covid when things were much cheaper with sub 4% interest rates. You've got lower payments on debt and so more to save or spend. Then there's the post-covid person that didn't get that kind of income until after everything shot up in price and you're now paying much more in interest on everything.

Two people in the same town making the same $100k but one person is clearly a lot better off.

LonelyStoner posted...

Holy fuck lmao. But even then $100k a year is plenty to live well in SF.

Our 2 bed / 2 bath 1500sq ft apartment in Seattle is $3k/month

Can still easily make rent and have like $3-4k a month leftover for bills, etc. for $100k/year.

I live in DC and getting by just fine with $60k with a child. Give me $100k and I will be quite well off.

SF sounds very expensive

My rent is $2800/month
That's $33,600/yr
If you want to keep your rent below 25% if your monthly pay then you need to make like $125k minimum, probably more

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I'm really sorry

rideshort posted...

I live in DC and getting by just fine with $60k with a child. Give me $100k and I will be quite well off.

Good DC private schools are about 50k/yr.

I live comfortably as a home owner in MI with months worth of savings at this point as Thankfully theres Plenty of cheap places to live in this state if your willing to settle.

Although my net earnings after each month arent that high anymore since a massive chunk of my checks go into my 401k and HSA.

LtZim posted...

My rent is $2800/month
That's $33,600/yr
If you want to keep your rent below 25% if your monthly pay then you need to make like $125k minimum, probably more

Idk how to tell you this, but rent makes up more than 25% of most peoples monthly income.

It's not anymore. Especially in cities like NYC, LA, San Francisco, Chicago etc.

After taxes and benefits cut out of paycheck that's about

$2500 every two weeks.

If you're starting fresh renting an apartment, no inherited home, no relatives, no support system, no government assistance etc.

The median rent for these locations in a reasonably safe location is $2500 - $4000.

So basically you're just getting by on your own with that type of income. Unless you cop out to living with roommates(potential strangers). And that has it's own set of risks

I had a lot of random roommates and most were OK

LonelyStoner posted...

Idk how to tell you this, but rent makes up more than 25% of most peoples monthly income.

Takes about 15% of mine.

100k per year is actually a lot in about 99% of the world

you just live somewhere more expensive

I make $110k a year and I still can't afford to buy a house yet >_> Shit's wild

thronedfire2 posted...

100k per year is actually a lot in about 99% of the world

you just live somewhere more expensive

We can't choose to live somewhere less expensive though, for the most part besides immigration. And even so we'd have to find employment in the country with a lower cost of living so that means lower wages. Then you're back at square one

runewalshPSiv posted...

Takes about 15% of mine.

Lucky you.

Its a pretty solid amount here. Could fully pay off a house in a couple years.

Living comfortable doesnt mean you have so much money that you rarely have to think about finances. Consumer culture, everyone wants more and sees how they could be more comfortable with more so theyre never comfortable.

I live in (Greater) London. 100k-ish gets me a comfortable standard of living but I don't have a mortgage. People like to say oh yeah it's fine you can get by, but neglect to mention they either live with their parents or live in a massive house share to minimise rent.

I've paid my mortgage off and hence can live quite happily with my lifestyle, but if I found myself paying the equivalent average (about 60%) mortgage, finding 2200 per month would be lifestyle-changing.

LonelyStoner posted...

Most Millennials probably wont own a house anytime soon. Where do you live?

Maybe Gen Z... Millennials had every opportunity to get cheap real estate with the cheapest mortgage rates ever seen, which is a combination that will probably never happen again in our lifetimes.