PhoenixFlare500 Posted March 6, 2012 Report Share Posted March 6, 2012 What with all the posting about how much different professions make, I'm just curious as to how much people think they need to make to be comfortable. Link to comment Share on other sites More sharing options...
markov79 Posted March 6, 2012 Report Share Posted March 6, 2012 just wondering if we're assuming any household conditions (ie. are we assuming a number of children in the house? , is it household income or individual?, etc). i would assume "no dependents, only your own income"? Link to comment Share on other sites More sharing options...
Clever Posted March 6, 2012 Report Share Posted March 6, 2012 I picked >500k but really I could be just as happy living in a jungle hunting for food Link to comment Share on other sites More sharing options...
PhoenixFlare500 Posted March 6, 2012 Author Report Share Posted March 6, 2012 just wondering if we're assuming any household conditions (ie. are we assuming a number of children in the house? , is it household income or individual?, etc). i would assume "no dependents, only your own income"? Yeah sorry I meant living on your own. Thanks for clearing that up. Link to comment Share on other sites More sharing options...
Outlaw Posted March 6, 2012 Report Share Posted March 6, 2012 I'm fairly certain I would be comfortable at 50-70k. I could live a relatively high-quality life on that income and be able to do the things I want to do at the same time. I could probably get by just fine on 35-50k but things would definitely tighten up as life went on. Realistically, what I would want for an income would be highly contingent on the amount of education and training put into it. For example, if I put in 8+ years of uni plus residency to become a physician, I would want my income to be adjusted accordingly. Link to comment Share on other sites More sharing options...
Curi0user Posted March 6, 2012 Report Share Posted March 6, 2012 I hVe trouble seeing how 50k is comfortable living in this day and age lol. Link to comment Share on other sites More sharing options...
apache Posted March 6, 2012 Report Share Posted March 6, 2012 My single parent raised me up on 25 k and then 18 k after retirement after I was 12... I'm not judging or anything, I think 50 k, especially if you're single, is great, but I find this whole discussion comedic... it's almost as good as a Bill Maher special. My foreign friend's obliviously rich and we were shopping for SUVs today, and he just dropped 80 k cash on some Lexus SUV (I knew his family was rich, but not that rich, he went into the Ashton Marton dealership asking for SUVs, so when I say obliviously rich I mean it, lol). Afterwards though, we both shared the same curry we both cooked together when we got home, and he told me about how he wasn't having the kind of influence he wants (he basically wants to be the next Steve Jobs), and how that was really bothering him... and beyond superficial luxuries we have pretty similar lives, plus he has it better than a doctor, since he doesn't have a "horrible work lifestyle" . There's no real point to that, it's just funny how people will think the rivers will part when they make that 200 k, then again, we tend to focus on what we don't have, so what will people decide they don't have when they get their first big check... ? Just some thoughts to ponder I hVe trouble seeing how 50k is comfortable living in this day and age lol. Link to comment Share on other sites More sharing options...
apache Posted March 6, 2012 Report Share Posted March 6, 2012 Before all the high school ballers chime in... There was an 05 Ferrari for 115 K at the Ashton Martin dealership today... I'm pretty sure a nurse working a surgeons hours (would pay about 180 k before tax on 80 hours a week, as a new grad, 215 k after about 5 years...) plus there'd be no call after that 80 hours could afford that. So you can segway your Lambo into a pick up lines with nurses and hear about her start talking about her Ferrari and how great it is to meet another car enthusiast, roflmao . Link to comment Share on other sites More sharing options...
aaronjw Posted March 6, 2012 Report Share Posted March 6, 2012 I hVe trouble seeing how 50k is comfortable living in this day and age lol. prob because you live in the TO area. and each individual has their own version of comfortable. If that includes materialist things then no, it likely isn't enough Link to comment Share on other sites More sharing options...
Robin Hood Posted March 6, 2012 Report Share Posted March 6, 2012 70k-100k is good. There's no problem in being somehow rich. 100k is the max I want, after it, it would be too much money. Link to comment Share on other sites More sharing options...
Robin Hood Posted March 6, 2012 Report Share Posted March 6, 2012 I'm curious to know medigeek's answer. Link to comment Share on other sites More sharing options...
aaronjw Posted March 6, 2012 Report Share Posted March 6, 2012 I'm curious to know medigeek's answer. infinity I wager Link to comment Share on other sites More sharing options...
zainy1993 Posted March 6, 2012 Report Share Posted March 6, 2012 infinity I wager Even infinity isn't enough for medigreed. I still find the "medigreed" thing hilarious lol. Link to comment Share on other sites More sharing options...
Curi0user Posted March 6, 2012 Report Share Posted March 6, 2012 prob because you live in the TO area. and each individual has their own version of comfortable. If that includes materialist things then no, it likely isn't enough I was raised with that income and it wasnt comfortable. Comfortable to me is a decent house in a safe area, not having to struggle to find money for college/uni, occassional vacations, etc. Link to comment Share on other sites More sharing options...
aaronjw Posted March 6, 2012 Report Share Posted March 6, 2012 I was raised with that income and it wasnt comfortable. Comfortable to me is a decent house in a safe area, not having to struggle to find money for college/uni, occassional vacations, etc. I was raised on about half of that so $50K in retrospect would have seemed like being rich lol Link to comment Share on other sites More sharing options...
Curi0user Posted March 6, 2012 Report Share Posted March 6, 2012 I was raised on about half of that so $50K in retrospect would have seemed like being rich lol Same for the first 10 years of my life. And then we got up to 50. But that was a whole other story, that was dirt poor for us lol. Link to comment Share on other sites More sharing options...
markov79 Posted March 6, 2012 Report Share Posted March 6, 2012 Yeah sorry I meant living on your own. Thanks for clearing that up. Just doing my civic duty and getting informed before casting a vote Link to comment Share on other sites More sharing options...
futurepediatric Posted March 6, 2012 Report Share Posted March 6, 2012 I hVe trouble seeing how 50k is comfortable living in this day and age lol. It's just accounting for living alone though Link to comment Share on other sites More sharing options...
Jochi1543 Posted March 6, 2012 Report Share Posted March 6, 2012 70-100K is great. 50K is alright for a while, but it's difficult to buy a decent place to live and save up for retirement on that amount without strict budgeting, IMO. With 70+, you can do all that and still do things like eat out, go on 2 vacations a year without fretting about money, and you can cover unexpected expenses like car repairs. I used to make like 35K after tax and as soon as it seemed I finally had some extra cash, something would always come up (vehicle repairs, vet expenses...) and then I'd have nothing saved AGAIN. Link to comment Share on other sites More sharing options...
Helljumper_Ty Posted March 6, 2012 Report Share Posted March 6, 2012 think about 100K would allow me to live decently and able to pursue some of my passions like racing. Its an expensive hobby, spent roughly $250 on wheel studs and lug nuts to attach the wheels to the car. I miss having money. Link to comment Share on other sites More sharing options...
Erk Posted March 6, 2012 Report Share Posted March 6, 2012 I hVe trouble seeing how 50k is comfortable living in this day and age lol. It's above the national average, and without dependents making above the national average income is tons of money. I've lived on $30k without dependents and been able to travel internationally every couple months, buy a decent car, rent a pretty large place... with 50 I could pretty much have anything I reasonably wanted, as long as I budgeted well. I'd call that the very definition of "comfortable". Link to comment Share on other sites More sharing options...
jojoluvsu2 Posted March 6, 2012 Report Share Posted March 6, 2012 Interesting question, and very location dependent. Here in T-bay, single with no dependents, 70k would be plenty to live on with a decent house/car/money to travel or play/savings for retirement. Note: the wild card would be student debt repayment. Link to comment Share on other sites More sharing options...
aaronjw Posted March 7, 2012 Report Share Posted March 7, 2012 Trust me, it's very feasible. I don't see how after about 5-10 years of earning that income, I wouldn't be able to afford all those things. By the way, I'm not from Ontario so house prices might be very different where I live. I don't necessarily want a huge mansion, just a somewhat big house (5 bedrooms max). I lol'd 10char Link to comment Share on other sites More sharing options...
aaronjw Posted March 7, 2012 Report Share Posted March 7, 2012 LOL I didn't realize that when I wrote it. I just meant the difference between something like this http://www.google.ca/imgres?q=mansion&um=1&hl=en&client=safari&sa=N&rls=en&biw=1255&bih=601&tbm=isch&tbnid=gACGJNk-4Uc_XM:&imgrefurl=http://www.tripadvisor.com/Hotel_Review-g47788-d238139-Reviews-Glen_Cove_Mansion_and_Conference_Center-Glen_Cove_New_York.html&docid=ttWkYFvyL2lnLM&imgurl=http://media-cdn.tripadvisor.com/media/photo-s/01/0b/7a/2a/front-of-the-mansion.jpg&w=550&h=366&ei=XrFWT7G9A8Oxgwel3OzHCg&zoom=1&iact=hc&vpx=598&vpy=180&dur=929&hovh=183&hovw=275&tx=168&ty=106&sig=104418276506148589197&page=1&tbnh=113&tbnw=158&start=0&ndsp=18&ved=1t:429,r:3,s:0 and my ideal home is something like this http://www.artistahomes.com/index.php?option=com_content&view=article&id=94&Itemid=90 Ok, let's break this down: $300K equals ~$30K monthly. Around $5000 for mortgage for the house I listed above (assuming I saved enough to pay the downpayment initially) and I have around $20k+ left per month. That's more than enough for everything else. I'm not sure about the car payment + insurance for a car around $60-$80k ... but I would still have tons of money left especially if I was in practice for more than 5 years earning that income yearly. were you thinking about paying any taxes on that $300K? Link to comment Share on other sites More sharing options...
larva Posted March 7, 2012 Report Share Posted March 7, 2012 Wait - are you guys lol'ing because you don't think it's possible to have a house/car/travel/shiny things/etc while making 200-300k, or because it's so obvious that you could?? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.