Current Events > I hate posts like 'if you can't live off 80k/yr you're bad with money'

(+) Yeah! (+)

FactsKeepHurtin posted...

Yes it is. You can live well on that by yourself in NYC, you can contribute 10% to your 401K and your take home pay would be a little more than $50K. That's over $4K a month to pay rent, food, entertainment, etc.

$50k is enough for a bedbug ridden 1 bedroom apartment in Astoria.

FactsKeepHurtin posted...

Yes it is. You can live well on that by yourself in NYC, you can contribute 10% to your 401K and your take home pay would be a little more than $50K. That's over $4K a month to pay rent, food, entertainment, etc.

You think 4k is enough to live on in nyc?! I went to nyc for 10 days last year and spent 4k on that trip alone

Also youre thinking about rentI consider owning a home shouldnt be a luxury

Im thriving in Orange County making around $1000 a month, being smart about everything is essentially as much work as a full time job though

people are as bad with money as they are at surviving in general, its not their fault the system is made for most people to fail

[LFAQs-redacted-quote]


I'm 38, make about that much (my wife does too), we have a home and make payments on 1 vehicle. We also have two kids (ages 7 amd 5)

Fortunate enough to both have good pensions at work so dont invest much beyond that but like we arent really getting ahead. 80K a year isnt 'a lot' of money by any stretch.

I also live in a fairly rural place in Ontario, Canada. We couldnt afford to live in a big city. Well we couldnt afford to own our home anyways. Most of them are like high 6 figures, low 7s

4. I dont want to wear clothes from wal mart

Welp, youre bad with money.

VampireCoyote posted...

Im thriving in Orange County making around $1000 a month

What do you consider "thriving"?

VampireCoyote posted...

Im thriving in Orange County making around $1000 a month, being smart about everything is essentially as much work as a full time job though

people are as bad with money as they are at surviving in general, its not their fault the system is made for most people to fail

Not saying this to be rude, but werent you homeless just a short time ago? Im glad youre doing great now, but 1,000 compared to nothing is a bigger leap than 1,000 to 3,000.

Im discussing maintaining a comfortable lifestyle while paying a mortgage and saving for retirement

No_U_L7 posted...

You think 4k is enough to live on in nyc?! <b>I went to nyc for 10 days last year and spent 4k on that trip alone</b>

Also youre thinking about rentI consider owning a home shouldnt be a luxury

This seems to be a good indicator that you're just not very good with money... In any case, you usually spend more on a vacation than you would if you actually lived in a place.

No_U_L7 posted...

Please define safe

Remember that I and many others are minoritiesthere was a time I wouldnt had even felt safe living in New York let alone the south

I grew up in the Atlanta and have lived in Houston along with tons of other minorities. You're safe. Stop reading dumb stories.

Jabraham posted...

This seems to be a good indicator that you're just not very good with money... In any case, you usually spend more on a vacation than you would if you actually lived in a place.

Ive never said what I did or how much I make ITT (or at all), that was a comfortable expense for me

Squall28 posted...

I grew up in the Atlanta and have lived in Houston along with tons of other minorities. You're safe. Stop reading dumb stories.

Why do you make it sound like you think theres only one type of minority

DuranOfForcena posted...

false

Name some

You need at least 100k per two people to live comfortably

No_U_L7 posted...

Ive never said what I did or how much I make ITT

Then what were you saying in post #38?

No_U_L7 posted...

Ive never said what I did or how much I make ITT (or at all), that was a comfortable expense for me

Sounds like you're guilty of this statement from earlier in the topic:

Agreed TC. The people who make statements like that are usually applying that money specifically to their situation. Not everyone has the same circumstances

I'm not sure why you'd then bring that up in response to someone saying $4k/month is sufficient to live in NYC unless you thought your experience was widely applicable.

GATTJT posted...

Then what were you saying in post #38?

I was saying that people arent factoring in tax appropriately

Jabraham posted...

Sounds like you're guilty of this statement from earlier in the topic:

I'm not sure why you'd then bring that up in response to someone saying $4k/month is sufficient to live in NYC unless you thought your experience was widely applicable.

That was in response to you saying I was bad with money

And that NYC is expensive

No_U_L7 posted...

I was saying that people arent factoring in tax appropriately

But you still said how much you make

GATTJT posted...

But you still said how much you make

How much do I make?

No_U_L7 posted...

That was in response to you saying I was bad with money

And that NYC is expensive

I mean you can spend a lot of money anywhere. That doesn't you can't live off of a lot less than that. And it still makes it sound like you're out of touch.

No_U_L7 posted...

How much do I make?

More than 60% more than 80k. Just because you were vague about it doesn't mean you didn't say it.

Jabraham posted...

I mean you can spend a lot of money anywhere. That doesn't you can't live off of a lot less than that. And it still makes it sound like you're out of touch.

So youre saying 4k is enough in nyc?

I wear clothes from Costco but I totally get it. People should not judge.

I totally believe in the wealth being redistributed so that you get your share and I get mine.

GATTJT posted...

More than 60% more than 80k. Just because you were vague about it doesn't mean you didn't say it.

Might wanna look up the definition of vague

Most people don't really know or understand the concept of lifestyle creep.

And can only see their current standard on living with say a 40k income vs a 80k.

While not realizing that likely their going to upgrade their apartment or house, buy better goods and clothes, dedicate 10% of their income to their 401k, start investing, and possibly even plan for a vacation once a year.

No_U_L7 posted...

Might wanna look up the definition of vague

https://www.merriam-webster.com/dictionary/vague

1 a : not clearly expressed : stated in indefinite terms

Prismsblade posted...

Most people don't really know or understand the concept of lifestyle creep.

And can only see their current standard on living with say a 40k income vs a 80k.

While not realizing that likely their going to upgrade their apartment or house, buy better goods and clothes, dedicate 10% of their income to their 401k, start investing, and possibly even plan for a vacation once a year.

My mortgage is more than 4x my rent

GATTJT posted...

https://www.merriam-webster.com/dictionary/vague

1 a : not clearly expressed : stated in indefinite terms

Exactly

No_U_L7 posted...

Exactly

So you agree that you said how much you make

GATTJT posted...

So you agree that you said how much you make

No, by the definition of your word vague I didnt say it

No_U_L7 posted...

My mortgage is more than 4x my rent

What? Why are you paying mortgage and rent at the same time?

TC is obviously not being serious, but there are many people who are, who don't realize their minimum salary put their means above the vast majority of Americans.

No_U_L7 posted...

So youre saying 4k is enough in nyc?

Yeah, you can live on $4k/month net income. But like I said, I disagree with you that living alone and owning a home are essential.

Prismsblade posted...

Most people don't really know or understand the concept of lifestyle creep.

And can only see their current standard on living with say a 40k income vs a 80k.

While not realizing that likely their going to upgrade their apartment or house, buy better goods and clothes, dedicate 10% of their income to their 401k, start investing, and possibly even plan for a vacation once a year.

Obviously it's easy to spend the money you have, but that doesn't mean you can't live on a million dollars a year because you can barely afford your mansion and your boat. You can certainly live better with more money, but there's still a threshold at which you can live comfortably.

No_U_L7 posted...

Youre including a lot of backwoods areas where Id get murdered

See above

Funny, people seem to live in these areas just fine without getting murdered wherever they walk.

I'm not gonna pretend that everywhere is equally nice, but there's a massive gap between "Luxury Condo" and the ghetto, where things are nice and the location is convenient but you can afford to live on well under $80k/yr. That grows to include even more properties if you have a partner.

Tyranthraxus posted...

What? Why are you paying mortgage and rent at the same time?

Im not lol

reincarnator07 posted...

Funny, people seem to live in these areas just fine without getting murdered wherever they walk.

I'm not gonna pretend that everywhere is equally nice, but there's a massive gap between "Luxury Condo" and the ghetto, where things are nice and the location is convenient but you can afford to live on well under $80k/yr. That grows to include even more properties if you have a partner.

White privilege

Im not including a partner in these discussions

Tyranthraxus posted...

$50k is enough for a bedbug ridden 1 bedroom apartment in Astoria.

You can get a 1 bedroom in Astoria for about $2K a month right now hth.

No_U_L7 posted...

You think 4k is enough to live on in nyc?! I went to nyc for 10 days last year and spent 4k on that trip alone

lmfao at comparing living expenses to what you spend on a vacation

FactsKeepHurtin posted...

You can get a 1 bedroom in Astoria for about $2K a month right now hth.

https://gamefaqs.gamespot.com/a/user_image/6/9/6/AARLwzAAEpxw.jpg

Congrats, you have $600 a month to spend on everything else (food, utilities, etc)

Good luck.

FactsKeepHurtin posted...

You can get a 1 bedroom in Astoria for about $2K a month right now hth.

Yes, but spending half your take home pay on rent generally isnt recommended

The people saying this generally picked their number back when $80k was equivalent to $500k in today's money, and like most boomer opinions, can safely be disregarded.

[LFAQs-redacted-quote]


80k doesnt mean shit where I live. Youre never going to buy a house with that income.

Tyranthraxus posted...

https://gamefaqs.gamespot.com/a/user_image/6/9/6/AARLwzAAEpxw.jpg

Congrats, you have $600 a month to spend on everything else (food, utilities, etc)

Good luck.

Ok now do it for someone making $80K a year like we were talking about Mr. Moving the Goalposts

No_U_L7 posted...

1. That is highly dependent on geography
2. Contributing to retirement shouldnt be a luxury
3. Once you get used to skimping, you guys dont know what youre missingsome luxury things should be essential
4. I dont want to wear clothes from wal mart

Note: Ive seen the X amount range anywhere from 30k to 100k

Also dont forget paying debt, retirement, and having kids.

Why do you want the middle class not to have more money.

FactsKeepHurtin posted...

Ok now do it for someone making $80K a year like we were talking about Mr. Moving the Goalposts

At 80k you'll get a bit over 2k take home per paycheck meaning half your paycheck goes just to your rent leaving you with another 2k to spend wherever.

The people I know who live in Astoria manage this mostly by not owning a car, not having student debt, and generally not living comfortably being the key word here.

Or should I say used to. The last one left moved out a few years ago because it was impossible to live comfortably.

No_U_L7 posted...

4. I dont want to wear clothes from wal mart

I agreed with you until this point. I sincerely hope your wardrobe is not the deciding factor on your quality of life or financial stability.

I could see, like, a working car, air conditioning, access to healthy foods, childcare and dependents, etc.

But your insecurity is where you buy your clothes?? C'mon. Be real here.

ZMythos posted...

I agreed with you until this point. I sincerely hope your wardrobe is not the deciding factor on your quality of life or financial stability.

I could see, like, a working car, air conditioning, access to healthy foods, childcare and dependents, etc.

But your insecurity is where you buy your clothes?? C'mon. Be real here.

1. Its not all about aesthetics, comfort is important. Youre wearing clothes the majority of the day (Id guess this is true for most people) and I dont want to wear low quality non stretchy clothes

2. No matter how much people dont want it to, looks matter. The way you look is how you present yourself to the world and a big part of the impression you leave

NoxObscuras posted...

Agreed TC. The people who make statements like that are usually applying that money specifically to their situation. Not everyone has the same circumstances

That's only half true. It depends where you live too.

For some, sure 80k isn't enough. But then you also have some who claim its not enough, but spend money like its going out of style (taking wild vacations, buying expensive clothes, etc) and wondering why they can't afford the American dream.

No_U_L7 posted...

1. Its not all about aesthetics, comfort is important. Youre wearing clothes the majority of the day (Id guess this is true for most people) and I dont want to wear low quality non stretchy clothes

2. No matter how much people dont want it to, looks matter. The way you look is how you present yourself to the world and a big part of the impression you leave

Wal-Mart has nice clothes too just fyi. Not everything there is bargain bin shit.

Tyranthraxus posted...

Wal-Mart has nice clothes too just fyi. Not everything there is bargain bin shit.

Poor materials and fit for the most part

No_U_L7 posted...

Poor materials and fit for the most part

I dunno what suits you're wearing but the fabric composition is the same compared to something like Jos A Bank or Men's Wearhouse.

The big dirty secret is that all these places are stocked by the same manufacturer they just slap a different brand label on them before sending them off.

Tyranthraxus posted...

I dunno what suits you're wearing but the fabric composition is the same compared to something like Jos A Bank or Men's Wearhouse.

The big dirty secret is that all these places are stocked by the same manufacturer they just slap a different brand label on them before sending them off.

For suits I wear Suitsupply

I keep a list of my favorite wool millswal mart doesnt have anything from them